Earnings calls of companies listed in France ·
French earnings calls, November 2026: Legrand, Veolia and Bouygues raise 2026 targets
Legrand said it raised its fiscal year 2026 organic growth target to 11%-13% from 8%-10%. Veolia and Bouygues also said they improved or slightly raised their 2026 guidance on calls held on 5 November 2026.
An update from FactIQ, written from company statements in earnings calls of companies listed in France. What is FactIQ?
Key figures
- Legrand, organic sales growth target, fiscal year 2026
- 11%-13%stated by the chief executive; raised from 8%-10%
- Legrand, data-center revenue growth guidance, fiscal year 2026
- 35%–40%stated by the chief executive; after growth close to 40% in fiscal year 2025
- Veolia, expected organic EBITDA growth, fiscal year 2026
- 5%-6%stated by the chief executive; EBITDA improved 5.1% in the nine months
- Bouygues, Equans current operating profit from activities margin target, fiscal year 2026
- at least 5.5%stated by the chief financial officer; raised from at least 5.2%
Legrand raised its 2026 sales targets as data-center demand grows
On its call for the third quarter of fiscal year 2026, Legrand's chief executive said:
- Legrand raised its fiscal year 2026 sales growth target excluding currency effects to 20%-22%. It raised its organic growth target to 11%-13% from 8%-10%. It expects acquisitions to add around 8%.
- Legrand raised its fiscal year 2026 data-center revenue growth guidance to 35%–40%. Data-center sales grew close to 40% in fiscal year 2025.
- Legrand's midterm assumption is for the data-center market to grow about 15%-20% a year from 2027 through 2030.
- Legrand kept its adjusted operating margin target at 20.5%-21% of sales after acquisitions.
Veolia expects organic EBITDA growth of 5%-6% in 2026
Veolia's chief financial officer said EBITDA (earnings before interest, taxes, depreciation and amortisation) improved 5.1% in the nine months, in line with annual guidance. The chief executive said Veolia is very confident that fiscal year 2026 organic EBITDA growth will be 5%-6%. The chief executive also said:
- Veolia had signed EUR 570 million of disposals year to date at an average valuation multiple of 10.4x. It plans to dispose of EUR 2 billion of assets by mid-2028.
- Veolia reached EUR 294 million of efficiency gains by the end of September, against a EUR 350 million target for fiscal year 2026.
Bouygues raised its profit guidance slightly, helped by Equans
Bouygues' chief financial officer said the group raised its fiscal year 2026 COPA (current operating profit from activities) guidance slightly. Group sales for the first nine months were stable at constant exchange rates. The chief financial officer also said:
- Equans sales rose 2% year-on-year in the third quarter of 2026.
- Equans raised its fiscal year 2026 COPA margin target to at least 5.5%, from at least 5.2%.
- Signing of the SFR deal is targeted in the coming weeks or months.
- European data-center activity paused in 2025 but showed significant renewed momentum in 2026.
Source: Earnings calls of companies listed in France.