(CercleFinance.com) – Legrand has decided to withdraw from Russia and is examining its various options to ensure the transfer of its activities under the best conditions.
Legrand’s activities in Russia represented approximately 1.5% of the Group’s annual sales in 2022.
As of December 31, 2022, the Group’s balance sheet exposure relating to its activities in Russia, including translation reserves, amounted to approximately €200 million. Of this amount, nearly €150 million will be recorded in the 2022 consolidated financial statements as asset impairment, with no impact on the Group’s adjusted operating income.