New Group Profile
REXEL PRESENTS ITS ENHANCED BUSINESS PROFILE AND FINANCIAL OBJECTIVES FOLLOWING THE ACQUISITION OF HAGEMEYER
– Global leadership strengthened with a broader European footprint
– 14.3 billion euros in pro forma1 2007 sales and more resilient business profile
– Experienced management team to implement integration
– Annual synergies at the top end of the previously-disclosed range, equivalent by 2011 to 1.5% of the pro forma 2007 sales of the assets retained2 by Rexel
– 2011 objectives, based on 2007 Restated3 financials:
• Revenue growth of 4% to 6% on a compounded annual basis, with at least half from organic growth
• Increase in Adjusted EBITA4 margin from 5.2% of sales of at least 100 basis points
• Improvement of 70 basis points from 13.2% of sales in working capital requirements
• Reduction of net debt to between 2x and 3x Adjusted EBITDA
Jean-Charles Pauze, Chairman of the management Board and CEO of Rexel, declared:
“By combining Rexel and most of Hagemeyer’s European activities, we are reinforcing our global leadership and creating a more powerful, more resilient and more attractive group. Our strong track record on integrating acquisitions makes us confident that this transaction creates an unrivalled platform for profitable growth and value-creation.”