Legrand Raises 2026 Outlook as AI Data-Centre Demand Surges — What the Numbers Reveal

November 5, 2026 — French electrical-infrastructure supplier Legrand has raised its full-year sales outlook after strong demand from data centres helped lift its first-nine-month results. The development illustrates how investment in artificial intelligence is reaching beyond chipmakers into the equipment that powers and cools computing facilities.

What changed in Legrand’s forecast?

Legrand now expects 2026 sales growth of 20%–22% excluding currency effects, compared with its earlier 16%–19% range. Within that, it forecasts organic growth of 11%–13%, up from 8%–10%. These are company forecasts, not completed full-year results.

In its November 5 nine-month earnings announcement, Legrand reported sales of €8.329 billion, organic growth of 12.7%, and adjusted operating margin after acquisitions of 20.8%. The company said organic sales in data centres grew by close to 40%. Acquisitions contributed 8.3% to growth during the period.

Why the AI infrastructure boom matters

Data centres need more than processors. Electrical distribution, backup power, racks and thermal management are essential to deploying computing capacity at scale. Legrand’s results suggest that suppliers of this less-visible infrastructure can benefit as large technology companies expand their facilities. But strong demand does not guarantee that today’s growth rates will persist: construction schedules, customer spending, electricity availability and local opposition can change project economics.

Reuters reported that data centres now account for roughly one-third of Legrand’s revenue. It also reported comments from chief executive Benoît Coquart that resistance to data-centre development may encourage demand for more efficient equipment. That is a possible commercial opportunity, not proof that opposition will increase Legrand’s sales.

What investors should watch next

Two measures deserve particular attention: how much of future growth comes from existing operations rather than acquisitions, and whether the company maintains its profitability as it expands. Legrand retained its 2026 adjusted operating margin target of 20.5%–21.0% after acquisitions. The company’s figures are unaudited interim-period disclosures; the revised annual outlook remains subject to execution and market conditions.

Sources

Editorial note: No third-party image or event footage is reproduced in this report. Figures and forecasts are attributed to their respective sources.

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