Legrand (LGE.FR): Data Centre Growth Lifts Profit Targets and Acquisition Push

French electrical and digital building infrastructure company Legrand (LGE.FR) raised its medium-term profitability outlook, citing strong data center demand. The company now projects average adjusted operating margins above 20% for the five-year period ending 2030, up from around 20% in 2024. Data centers accounted for 26% of Legrand’s 2025 revenues and could reach 40%, with AI transformation driving expansion. Revenues rose 9.6% to €9.48 billion ($11.26 billion), and adjusted operating profit grew 10.5% to €1.96 billion. For 2026, the company expects sales growth of 10%–15% and adjusted operating margins of 20.5%–21%, with a proposed dividend of €2.38 per share on 2025 results. Legrand acquired Green4T (Brazil) and Kratos Industries (U.S.) this year and completed seven new-energy and digital acquisitions in 2025, adding €500 million in incremental revenues and maintaining strong margins. CEO Benoit Coquart said the firm regularly evaluates nearly 400 companies, focusing on energy and digital transitions, and anticipates continued double-digit growth in the global data center market through the end of the decade, with Europe expected to follow U.S. momentum.