Legrand SA

Good morning, ladies and gentlemen, and welcome to today's Legrand 2026 nine-month results conference call. For your information, this conference is being recorded. All participants are in a listen-only mode. Later, there will be a question-and-answer session. At this time, I would like to hand the call over to CEO Mr. Benoît Coquart and CFO Mr. Franck Lemery. Please go ahead, sir.

Thank you. Good morning, everybody. So Franck Lemery, Ronan Marc, and I are happy to welcome you to Le Grand 9 Months 2026 results, conference call, and webcast. This morning, as usual, we published our press release, financial statements, and the slideshow that we will refer to during the call. After a few opening remarks, we will comment on the results in more detail. Let me start on page four with the key highlights for the first nine months. First, Legrand delivered very strong sales growth of plus 22% excluding currency effects, together with excellent profitability. Second, we continue to actively execute our development strategy with seven acquisitions announced since the beginning of the year, all in buy-in energy and digital transition markets. Third, we are revising our FY2026 targets upwards, Last, a short reminder of our new highly value-creating 2030 ambitions. Moving to pages 6 and 7, I will start with an overview of sales. Sales reached 8.3 billion euros in the first nine months of 2026, up 22.1% excluding currency effects. This performance comprises organic growth of plus 12.7%, driven by data centers at close to plus 40% as well as energy transition solutions and growth from acquisitions with a positive scope effect of plus 8.3%. Based on acquisitions announced and their likely dates of consolidation, the overall impact of acquisitions would be around plus 8% for the full year. The exchange rate effect was minus 2.1% over the first nine months Based on average exchange rates in October 2026, the full-year effect would be around minus 1% in 2026. On page 7, you will find the key takeaways by geography on a life-for-life basis. Europe was down 0.9% over nine months and grew plus 2.4% in the third quarter in a building market that remains mixed. North and Central America increased sharply Thank you very much. I will now hand over to Franck for more color on our financial performance.

Thank you Benoît and good morning everyone. I will start on page 8 with adjusted operating profit and margin. Profitability is excellent over the 9 first months of 2026 with an adjusted operating margin of 20.8%. The profitability remained high. despite continued cost inflation and this reflects our strong execution including discipline pricing, solid productivity and the contribution from recent acquisition. It's a solid performance with adjusted operating profit growing plus 20% in value. Going now to page nine and value creation. First, the net profit attributable to the group reached 1.1 billion euro at 12.8% up 29.6% versus 2025. This increase was primarily driven by higher operating profits, a corporate income tax of 27.5% and an unfavorable change in financial results. Second, free cash flow increased by 15.9% to 1 billion euros. representing 12.1% of sales. That's it for the key financial topics. I will now hand back to Benoît.