Rexel: H1 RNI down a quarter
(CercleFinance.com) - Rexel has reported a 25.
1% drop in H1 2024 recurring net income (RNR) to E340.8m, with an adjusted EBITA margin down around 1.3 point to 6%, on sales that fell 1.4% to E9.63bn.
On a constant working-day basis, sales for the electrical equipment distributor slipped 3.5%, although improved over the period (to -2.4% in Q2), helped by a more favourable comparison basis effect for electrification products.
Faced with political uncertainties and a more competitive market, Rexel confirms its full-year targets, albeit with LFL sales growth and adjusted EBITA margin expected at the lower end of the initial target range.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
1% drop in H1 2024 recurring net income (RNR) to E340.8m, with an adjusted EBITA margin down around 1.3 point to 6%, on sales that fell 1.4% to E9.63bn.
On a constant working-day basis, sales for the electrical equipment distributor slipped 3.5%, although improved over the period (to -2.4% in Q2), helped by a more favourable comparison basis effect for electrification products.
Faced with political uncertainties and a more competitive market, Rexel confirms its full-year targets, albeit with LFL sales growth and adjusted EBITA margin expected at the lower end of the initial target range.
Copyright (c) 2024 CercleFinance.com. All rights reserved.