Legrand Announces the Sale of Its Russian Activities
October 12 2023 - 1:30AM
Business Wire
Regulatory News:
Following its decision to disengage from Russia as communicated
on January 25, 2023, and after examining various options, Legrand
(Paris:LR) announces the sale of its Russian operations to a local
industrial player, effective October 4, 20231.
Following this divestiture, Legrand will no longer have any
operations in the Russian market.
Key financial dates:
- 2023 nine-month results: November 8, 2023 “Quiet
period2” starts October 9, 2023
- 2023 annual results: February 15, 2024 “Quiet period2”
starts January 16, 2024
- General Meeting of Shareholders: May 29, 2024
About Legrand
Legrand is the global specialist in electrical and digital
building infrastructures. Its comprehensive offering of solutions
for commercial, industrial and residential markets makes it a
benchmark for customers worldwide. The Group harnesses
technological and societal trends with lasting impacts on buildings
with the purpose of improving life by transforming the spaces where
people live, work and meet with electrical, digital infrastructures
and connected solutions that are simple, innovative and
sustainable. Drawing on an approach that involves all teams and
stakeholders, Legrand is pursuing its strategy of profitable and
responsible growth driven by acquisitions and innovation, with a
steady flow of new offerings—including products with enhanced value
in use (faster expanding segments: datacenters, connected offerings
and energy efficiency programs). Legrand reported sales of €7.0
billion in 2021. The company is listed on Euronext Paris and is
notably a component stock of the CAC 40 and CAC 40 ESG indexes.
(code ISIN FR0010307819). https://www.legrandgroup.com
1 As a reminder, Legrand's activities in Russia represented
about 1.5% of the Group's annual sales in 2022, with an impairment
charge of approximately €150 million recorded on December 31, 2022.
As of June 30, 2023, remaining net balance exposure mainly included
conversion reserves (a latent loss of €46 million). 2 Period of
time when all communication is suspended in the run-up to
publication of results.
Readers are invited to verify the authenticity of Legrand press
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version on businesswire.com: https://www.businesswire.com/news/home/20231011421744/en/
Investor relations Legrand Ronan Marc Tel: +33 (0)1 49 72
53 53 ronan.marc@legrand.com
Press relations TBWA Corporate Tiphaine Raffray Mob: +33
(0)6 58 27 78 98 tiphaine.raffray@tbwa-corporate.com
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