Legrand raises its 2026 outlook as data-centre demand reshapes the group
The French electrical-equipment maker now expects 20 to 22 percent sales growth excluding currency effects, with data centres contributing about a third of turnover.
French electrical and digital infrastructure group Legrand has raised its 2026 sales outlook for the second time this year after nine-month revenue exceeded market expectations. The company now expects total growth excluding currency effects of 20 to 22 percent and organic growth of 11 to 13 percent, above the ranges published in July.
Reuters reports nine-month sales of 8.33 billion euros and organic growth of 12.7 percent. A company-provided analyst consensus had expected 8.08 billion euros and 10.1 percent organic growth. Those comparisons show the scale of the beat, but they remain company results and market estimates rather than a prediction that current growth will continue indefinitely.
The equipment behind AI capacity
The larger story is Legrand's changing business mix. Data centres now account for about one third of group turnover and grew by nearly 40 percent over nine months, according to management figures reported by Reuters. The company supplies power distribution, busways, uninterruptible power, cooling, racks and monitoring rather than the chips or software usually associated with artificial intelligence.
Legrand's own September investor presentation placed data centres at 32 percent of 2026 sales, energy-transition products at 22 percent and essential building infrastructure at 46 percent. That makes the group less dependent on traditional wiring and building products, although those activities still represent almost half of sales and cannot be treated as incidental.
Acquisitions add speed and integration risk
Acquisitions are another engine. Reuters says seven deals announced in 2026 are expected to add about 8 percent to annual sales. Acquisition-led expansion can accelerate access to specialist technology and regional customers, but investors will still need to watch integration costs, cash generation and whether purchased growth translates into durable margins.
The demand case also carries constraints. Data centres require large amounts of electricity, cooling and land, and community resistance is increasing in some markets. Legrand argues that efficiency products are part of the answer. That is a commercial position, not proof that every facility using its equipment has a lower environmental impact.
A stronger outlook with physical constraints
For now, the verified result is a stronger nine-month performance and a higher full-year range. The strategic signal is equally important: a company long associated with building electrics is increasingly tied to the physical infrastructure of cloud computing and AI. The next test will be whether that shift remains profitable as capacity expands and scrutiny of data-centre resource use grows.
Sources & context
Reporting and reference material used for this article. Context sources do not independently confirm every news claim.
- Legrand ↗Primary company results, published 5 November 2026: nine-month performance and revised annual objectives.
- Reuters ↗Independent business reporting, published 5 November 2026: analyst consensus, business mix, data-centre growth and acquisitions.
- Legrand Capital Markets Day ↗Primary strategic context, published 29 September 2026: 2026 sales mix, data-centre offering and 2030 framework.
Written for WHIF from the linked material. This article does not claim on-the-ground reporting. Our editorial standards.