Legrand has raised its 2030 sales growth and profitability targets and set out an expanded data centre roadmap.
The updated ambitions for 2027 to 2030 call for organic sales growth of 6% to 8% a year, alongside an average annual contribution from acquisitions of about 5%. Divestments over the period are expected to represent €0.5 billion to €1.0 billion of sales.
Adjusted operating margin should average 21% to 22% of sales after acquisitions and including restructuring expenses. Free cash flow is expected to average 13% to 15% of sales, with cash conversion above 100% on average.
Capital allocation will continue to focus on acquisitions, dividends and selective share buybacks. About 60% of free cash flow is to be directed to acquisitions on average, while the leverage ratio target will remain between 1.5 times and 2.5 times net debt to EBITDA.
Data centre push
A central part of the update was Legrand's data centre business, which is expected to generate more than €3 billion of sales in 2026. That would make the segment one of the group's main growth engines as demand rises for infrastructure linked to artificial intelligence workloads and denser computing environments.
Legrand said it has built a broad position in the sector through organic growth and acquisitions. Its data centre offering spans critical power, physical compute infrastructure, monitoring and control systems, cooling, and testing and lifecycle services.
Critical power accounts for 35% of data centre sales, according to the company's breakdown. Physical compute infrastructure and compute infrastructure monitoring, management and control each represent 25%, while advanced cooling makes up 5% and testing and lifecycle services 10%.
Executives described a market changing rapidly as operators deal with higher rack densities, faster deployment schedules and shifts in power architecture. Legrand's open-architecture approach and integration work are intended to address those requirements across large-scale data centre projects.
The group also outlined its view of a shift towards Low Voltage Direct Current architectures, a roadmap aimed at supporting the next generation of AI data centres at gigawatt scale.
Broader roadmap
Benoît Coquart, Chief Executive Officer, presented Legrand's wider strategy through 2030 around three business areas: data centres, which account for 32% of sales; energy transition, at 22%; and essential infrastructures for buildings, at 46%.
The energy transition business is tied to electrification, while the buildings division remains the largest part of the portfolio. Together, the three areas reflect where Legrand sees long-term demand from digitalisation, electrification and structural investment in buildings.
Legrand said it had exceeded the growth and profitability commitments outlined at its 2024 Capital Markets Day, citing innovation, customer experience, pricing and acquisitions.
The group reported sales of €9.5 billion in 2025, providing context for the scale of its latest targets. A data centre business generating more than €3 billion in 2026 would represent a substantial share of revenue even before any further expansion under the new plan.
Regional example
Legrand also used Malaysia as an example of how it is building regional data centre operations. The market, it said, illustrates its ability to combine local manufacturing, engineering and project execution with acquisitions in a fast-growing geography.
That reflects a broader data centre approach, with targeted deals used to widen the product range and strengthen the company's position in local markets. The strategy sits alongside efforts to serve customers needing equipment and systems across multiple parts of the data centre stack.
Brian DiBella, President and Chief Executive Officer of Legrand North & Central America, led the section on market trends, customer needs and growth opportunities in data centres. Blandine Antoine, Executive Vice President Products and Technology, and Rebecca Gilstrap, Data Centre Strategy and Products Senior Director, outlined the company's technology offering across power and digital infrastructure.
Franck Lemery, Chief Financial Officer, presented the updated financial ambitions underpinning the strategy. "Organic sales growth with a CAGR of +6% to +8% complemented by a yearly scope effect from acquisitions of around +5% on average, and divestments over the period representing €0.5 billion to €1.0 billion of sales," he said.