Legrand SA (ENXTPA:LR) will look for acquisitions. During the company?s 2023 full year results conference call, Mr. Benoît Coquart, Chief Executive Officer said that ?We will do it both organically and inorganically. And we will do it inorganically.

That's what we've been doing. If you look at the past 2 acquisitions we made in the U.S., ZPE Systems was -- which we announced a couple of months back was in a datacenter. Encelium, the small acquisitions we did about 6 months ago, was in the lighting controls so highly correlated to energy efficiency.

So it could be inorganically and organically. Does it mean that we will make big acquisition, i.e. somebody amounting EUR 500 million or EUR 600 million or EUR 700 million and EUR 1-point-something billion in terms of EV, big question mark?. ?But to make a long story short, I confirm that we have -- we don't have a high leverage, 1.0 that we would love to, let's say, 1.5% to 2%, and that the priority is to actively look at acquisitions.

But if we don't have enough good ideas, we could always consider buying back some shares?. ?We pay the fair prices. We entertain a relationship with some people for 10 or 15 years.

So not all acquisitions are EUR 100 million and EUR 150 million in terms of sales. Some of them are small ones, if you take MSS, it's EUR 10 million of sales. So it's quite small.

But I can tell you with a pretty high level of confidence that we will do additional acquisitions in the coming quarters. Will there be in datacenter a question mark, but we'll do some other acquisitions indeed?.