Rexel: adjusted EBITA margin falls in first half
(CercleFinance.com) - Rexel has announced recurrent net income that is down 50.
7% at 82.5 million euros for the first six months of 2020, with adjusted EBITA that is down 36.6% at 199.3 million euros, representing a margin that is down 136 basis points at 3.3%.
The electrical equipment distributor saw its sales fall by 11.1% to 6,045.6 million euros. On a like-for-like basis and at a constant number of days, sales fell by 10.6%, with an unfavourable effect of 0.5% due to changes in the price of copper-based cables.
As the current environment remains volatile, with visibility over H2 2020 and 2021 remaining low, particularly in view of the growing risk of a second wave of the Covid-19 pandemic in several countries, Rexel is still suspending its FY financial targets.
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