Trading update: Upwards revision in FY 2021 outlook
29 Giugno 2021 - 07:30AM
Trading update: Upwards revision in FY 2021 outlook
Trading
update:
Upwards revision in FY 2021
outlookFY same day sales growth between 12% and
15% (vs 5%-7%)FY adjusted EBITA margin expected to be around 5.7%
(vs c. 5.0%)H1 2021 results released on July 28th 2021
Rexel is today providing an update on its
full-year 2021 outlook.
The company experienced better-than-expected
business activity during the first half of 2021, with a sequential
improvement in Q2, supported by market outperformance in a
favorable global environment, both in terms of volume and price.
Rexel is demonstrating its ability to capture further pockets of
growth, leveraging its profound digital transformation to better
serve its customers amidst continuing product scarcity. Rexel is
expanding its role in the value chain and managing uneven product
availability by providing alternative solutions to its customers,
as reflected in our high NPS score. By market, we see robust growth
in building renovation, driven by increased demand in building
units and number of products as well as sequential improvement in
the industrial segment. By geography, we see accelerating trends in
all key countries including in North America, with activity now
back to its 2019 level.
Those business trends, combined with Rexel’s
focus on passing on price increases and strong cost discipline,
lead Rexel to revise upwards its outlook. We now anticipate for
full-year 2021:
- same-day sales
growth of between 12% and 15% compared to 2020, implying a level of
activity between c. 5% and c. 8% above 2019. We anticipate the
second half of the year will benefit from the recovery in the US,
whose comparable base will be favorable, and from stimulus spending
both in North America and in Europe, as well as a positive pricing
contribution. However, we expect to continue to face volatility
both in demand, as the sanitary crisis is not yet over, and in
global supply, as the “new normal’ is affected by many
bottlenecks.
- an adjusted
Ebita margin of circa 5.7%, confirming the positive impact of an
increased penetration of digital sales on our profitability.
Rexel will issue its half-year results on July
28th 2021, and we expect H1 2021 to show same-day sales growth of
circa 19% and adjusted Ebita margin of c. 5.6% for the period.
Patrick Berard, CEO of Rexel, stated: “As
presented during our last Capital Market Day, Rexel is benefiting
from an unprecedented convergence of positive trends related to
customer needs, supplier offering, societal factors and Rexel’s
positioning in its market. This is driven by an accelerated demand
for electrification solutions, a continued increase in
digitalization, a lean and efficient organization and an improved
customer service experience, all resulting in market share gains.
Having demonstrated our strong resilience throughout the sanitary
crisis, I am very pleased to see that the initiatives taken over
the past three years are rewarding us as the industry continues to
benefit from long-term growth drivers.”
ABOUT REXEL GROUP
Rexel, worldwide expert in the multichannel
professional distribution of products and services for the energy
world, addresses three main markets - residential, commercial and
industrial. The Group supports its residential, commercial and
industrial customers by providing a tailored and scalable range of
products and services in energy management for construction,
renovation, production and maintenance.Rexel operates through a
network of more than 1,900 branches in 25 countries, with more than
24,000 employees. The Group’s sales were €12.6 billion in 2020.
Rexel is listed on the Eurolist market of Euronext Paris
(compartment A, ticker RXL, ISIN code FR0010451203). It is included
in the following indices: SBF 120, CAC Mid 100, CAC AllTrade, CAC
AllShares, FTSE EuroMid, STOXX600. Rexel is also part of the
following SRI indices: FTSE4Good, Dow Jones Sustainability Index
Europe, Euronext Vigeo Europe 120, STOXX® Global ESG Environmental
Leaders, 2021 Global 100 Index, S&P Global Sustainability
Yearbook 2021, in recognition of its performance in terms of
corporate social responsibility (CSR). Rexel is rated A- in the
2020 CDP Climate Change assessment and ranked in the 2020 CDP
Supplier Engagement Leaderboard.For more information, visit
www.rexel.com/en.
CONTACTS
FINANCIAL ANALYSTS /
INVESTORS
Ludovic DEBAILLEUX |
+33 1 42 85 76 12 |
ludovic.debailleux@rexel.com |
PRESS
Brunswick: Thomas KAMM |
+33 1 53 96 83 92 |
tkamm@brunswickgroup.com |
- 2021 06 29 Trading Update 2021
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