Rexel: 2019 earnings up 50.3% at E203.8m

(CercleFinance.com) - Rexel has reported FY 2019 sales of 13,742.
3 million euros, up 2.8% as reported.
On a comparable basis and on a constant number of days, sales increased by 1.4%.

Its gross margin rose by 36 basis points from the previous year to 25.0% of sales. FY 2019 adjusted EBITA rose by 5.1% to 685.1 million euros. Meanwhile, its adjusted EBITA margin increased by 18 basis points to 5.0% of sales.

Net income increased by 50.3% to 203.8 million euros (against 135.6 million euros in 2018). Recurrent net income amounted to 341.2 million euros, up 7.5%.

For 2020, at comparable consolidation scope and exchange rates the group expects adjusted EBITA that is up by 2% to 5%, around a 65% conversion of free cash flow and a further improvement of its gearing (net debt/EBITDAaL).


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