Rexel SA

RXL

Equity

ISIN FR0010451203 / Valor 3015581

Euronext - Euronext Paris (2025-03-14)

EUR 25.17+2.65%

Rexel SA
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About company

Rexel SA is a leading company in multichannel distribution for the energy sector, providing sustainable and innovative solutions to professional customers worldwide. With a focus on supporting customers in their energy needs, Rexel offers a wide range of products and services to meet the demands of the industry. As a key player in the energy world, Rexel is dedicated to providing quality solutions and expertise to its customers, ensuring their success in an ever-evolving market.

Summarized from source with an LLMView SourceSector: Technology

Sales Performance

In the fourth quarter of 2023, Rexel SA reported a decline in sales by 2.8% due to a challenging base effect from electrification and specifically solar activity. However, for the full year, sales in Europe amounted to €9,619.1 million, reflecting a 2.2% increase on a reported basis compared to 2022. On a constant and same-day basis, sales increased by 5.1%, driven by a positive volume contribution from electrification products and a positive price effect on non-cable products.

Gross Profit

Rexel SA's gross profit for 2023 amounted to €4,876.4 million, marking a slight increase of 0.2% on a reported basis compared to the previous year. The adjusted gross margin stood at 25.5%, down 74 basis points from the previous year. However, when restated for the one-off inventory price inflation on non-cable products in 2022, the gross margin showed an improvement of 24 basis points.

EBITA

In 2023, Rexel SA's EBITA was reported at €1,285.9 million, a decrease of 4.4% on a reported basis compared to 2022. The adjusted EBITA margin decreased from 7.5% in 2022 to 6.8% in 2023. Despite a positive net scope effect of €35.4 million, the EBITA was negatively impacted by a foreign exchange currency effect of €25.7 million.

Net Income

Rexel SA's net income for 2023 stood at €774.7 million, down from €922.3 million in 2022. This resulted in earnings per share of €2.57, compared to €3.04 in the previous year. The recurring net income was €823.3 million, reflecting a 9.7% decrease, primarily due to a challenging comparable base as last year's earnings benefited from high inflation tailwinds on non-cable products.

Outlook and Trends

Rexel SA's sales performance in 2023 was influenced by various factors, including electrification trends and digital sales growth. Digital sales represented 38.1% of Europe sales, up 213 basis points year-on-year. The company also noted positive trends in North America, driven by reshoring trends in several industrial sectors, while facing challenges in Europe due to lower demand in the solar activity sector.

Summarized from source with an LLMView Source

Key figures

1.78%1Y

36.7%3Y

239%5Y

Performance

30.6%1Y

33.7%3Y

42.4%5Y

Volatility