Rexel: reduces annual targets

(CercleFinance.com) - Rexel has announced that it is lowering its targets for 2024 to reflect the negative trend in the environment over the summer, with it now expecting a LFL sales fall of about -2.
5% to -2%.

The electrical supplies distributor now only expects an adjusted EBITA margin of around 5.9%, with cost-cutting actions implemented rapidly, with it focusing on free cash flow conversion, which is now expected to be above 65%.

Rexel posted Q3 2024 sales of E4.76bn, down 2.1% on a same-day basis. On a reported basis, sales rose by 2.1%, thanks to a 3.1% contribution from acquisitions.


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