North America has develop into the leading market for the electrical infrastructure specialist this year, driven by nearly 40% growth in its data center business, which now accounts for the majority of the group’s sales.
Data centers now represent just over a quarter of revenue, a level comparable to Schneider Electric. Legrand generated €2.4 billion in revenue from this segment this year, boosted by strong growth in the United States, which accounts for 45% of the global data center market. This represents a significant increase compared to the €700 million generated in 2020.
While the French competitor’s EBITDA is on a similar order of magnitude to Legrand’s revenue, the margins and growth prospects for 2030 appear close for both players, with an expected organic growth rate of 7 to 10% for Schneider.
Adjusted operating income reached €2 billion in 2025, with a margin of 20.7%, among the best in the sector. This year, Legrand managed to convert an amount greater than its net income into free cash flow.
The Limoges-based group continues its acquisition strategy, completing seven acquisitions in 2025 for a total of €1.3 billion, with two new deals announced alongside the publication of its results this week. At the same time, Legrand raised €1.5 billion in debt, but overall debt remains below accumulated reserves.
This is a consistent strategy to strengthen its presence in the data center market, where Legrand remains a relatively small player. Benoît Coquart indicated that the group is monitoring 400 companies.
For the coming year, Legrand is targeting revenue growth of 10 to 15%, including organic growth of 4 to 7%. Within this organic growth, the group anticipates a 10 to 20% increase in data center-related activities. This suggests the group does not anticipate a recovery in the infrastructure segment, which remains under pressure.
These results also provide an opportunity to unveil the five-year plan to 2030. Legrand is aiming for average annual growth of around 10%, bringing its revenue to €15 billion. The group is beginning to confirm expectations related to its potential in data centers, after a period of slow revenue growth, with a CAGR of 1.84% between 2022 and 2024.
