Rexel: reduction in annual targets

(CercleFinance.com) - Rexel announces that it has lowered its targets for 2024 to 'reflect the negative evolution of the environment during the summer', and is now aiming for like-for-like sales growth of between around -2.
5% and -2%.

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

For its third quarter of 2024, Rexel posted sales of 4.76 billion euros, down 2.1% on a constant-day basis. On a reported basis, sales rose by 2.1%, thanks to a +3.1% contribution from acquisitions.

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