Legrand reaps more than a billion euros in profits

The activity of the Legrand company has increased. The French were anxious to optimize their electrical installations as much as possible to reduce their consumption, they bought more thermostats, connected products to better regulate the temperature in their homes, the same for companies. The French are not the only ones, Legrand has seen its sales increase in Europe, but also in the United States. Legrand also sold a lot of products for data centers, computer data centers.

Admittedly, the French group has seen its costs increase in electricity, transport and raw materials. He has somewhat passed on the price increase to his rates. Its growth was also somewhat hampered by problems with the supply of electronic components, but it is progressing by almost 20%. Nevertheless, Legrand manages to generate a profit of one billion euros, it is 10% more than in 2021 and it is above all better than expected. On the Paris Stock Exchange, the Legrand title was on the rise.

Employees will benefit from these good results

The group paid a tax-free bonus of more than 1,000 euros to its 5,000 French employees last year. there is also profit-sharing and participation which, according to the management, represents, for each, more than a month and a half’s salary. Right now the mandatory annual negotiations are taking place and it’s quite tense. The management offers a little more than 5% increase in remuneration when the employees ask for double it.

Legrand is one of the few CAC 40 groups whose headquarters are in the provinces (in Limoges) and intends to stay there even if the group claims to be penalized because of SNCF connections, delays and the removal of trains are weighing on activity. To the point that Benoît Coquart, the general manager of Legrand, complained about it to Jean-Pierre Farandou, the boss of the SNCF. The railway company promised to be vigilant. Legrand should therefore remain in Limoges for some time, where the company has been established for more than a century. It has 2,000 employees, it is the first employer in the city, in other words an institution.