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Press Relations
Laurence FROST
lfrost@brunswickgroup.com
+33 (0)6 31 65 57 06

Investor Relations
Ludovic DEBAILLEUX
ir@rexel.com
+33 (0)1 42 85 76 50

First-Quarter 2025 Sales


Same-day sales up +1.4% in Q1 25, back to positive territory

Sales growth driven by North America, with improving trends in Europe

Active portfolio management with one acquisition and one disposal completed in April

Full-year guidance confirmed amid uncertain macro-political environment

→ Q1 25 sales of €4,825m, up +1.4% on a same-day basis, back to positive territory

  • North America up +3.8% on a same-day basis, driven by good backlog execution of non-residential projects and better momentum in the Proximity business
  • Europe down (0.7)% on a same-day basis, showing positive momentum in all countries following a (3.8)% decline in Q4 24
  • Pricing contributed for 80bps to sales growth

 

→ Active portfolio management with one US acquisition and the disposal of our Finnish operations, prioritizing acquisitions in combination with targeted divestments designed to allocate resources to markets offering the highest value-creation potential for Rexel

→ Continued ramp-up of digital penetration rate, reaching 33% of sales in Q1 25, up +241bps

→ Execution of strategy presented at our June 2024 CMD and deployment of Axelerate 2028, focused on acceleration of operational excellence initiatives to secure mid-term ambitions

2025 guidance confirmed, while continuing to closely monitor direct and indirect effects of tariffs on sales and profitability, particularly in North America

 

Key figures (€m) Q1 2025 YoY change
Sales on a reported basis 4,825.0 +2.5 %
On a constant and actual-day basis (0.4) %
On a constant and same-day basis +1.4 %
Same-day sales growth by geography
Europe 2,407.3 (0.7) %
North America 2,151.2 +3.8 %
 Asia-Pacific 266.6 +1.4 %

Guillaume TEXIER, Chief Executive Officer, said: 

“The first quarter of 2025 had positive momentum, with solid growth in North America, Europe recovering sequentially and price effect improving, allowing us to post positive organic sales growth for the first time in one year. We are happy that we were able to deliver such a performance in an economic environment which remains globally soft and uncertain.

In this context, Rexel accelerated its strategic plan, gaining market share in key countries, implementing cost savings and margin actions, and  being active and agile on capital allocation. All of Rexel’s employees are now fully mobilized around our Axelerate 2028 plan with the goal to enhance value to our customers and deliver on our midterm financial targets.

Even though the new and fast-evolving global tariffs environment creates a level of uncertainty, with both new challenges and new opportunities, we are confident in Rexel’s resilience and agility and confirm our guidance for 2025.”


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Press Relations
Laurence FROST
lfrost@brunswickgroup.com
+33 (0)6 31 65 57 06

Rexel sells Finland operations to Ahlsell


Rexel, a leading distributor of electrical products, solutions and services, has reached an agreement to sell its Finnish operations to Ahlsell, a Nordic regional distributor of installation products, tools and supplies. With 311 employees, Rexel’s Finland operations generated sales of €254 million in 2024.

The divestment of Rexel Finland is fully in line with the Group’s active portfolio management strategy, which prioritizes acquisitions in combination with targeted divestments designed to allocate resources to markets offering the highest value-creation potential for Rexel.

Since 2021, Rexel has acquired approximately €2.7bn1 worth of additional sales (14% of global turnover) and divested €600 million1 (c.3% of global turnover).

The completion of the transaction remains subject to customary regulatory clearance including the approval of the competition authorities.

1sum of turnover at time of acquisition / divestment

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Group Communications
Susan MARRO
susan.marro@rexel.com

Press Relations
Laurence FROST
lfrost@brunswickgroup.com
+33 (0)6 31 65 57 06

Rexel Partners with the ChangeNOW 2025 Summit


Rexel, a leading distributor of electrical products, solutions and services, is a proud Supporting Partner of this year’s ChangeNOW summit, taking place in Paris on April 24-26. This “world expo of solutions for the planet” is due to welcome global leaders and changemakers from more than 10,000 companies, as well as investors, media and the general public. Participating Rexel executives will be sharing our expertise to help shape a more sustainable world.

Championing sustainability in a fast-evolving market

Operating at the heart of the electrical supplies value chain, Rexel is positioned as a champion of sustainability, working with suppliers and customers to accelerate the energy transition. As demand grows for cleaner, more energy efficient solutions, the company is pursuing its purpose of “electrifying solutions that make a sustainable future possible.”

Concretely, Rexel has long been a climate change pioneer, notably being the first in its industry to set SBTi-approved targets, with a comprehensive roadmap for reducing Scopes 1, 2 and 3 emissions and achieving net zero by 2050. The company has earned a CDP “A” rating and an EcoVadis Gold medal for its environmental performance.

Accelerating the energy transition with sustainability expertise and proprietary AI tools

Rexel offers proprietary algorithms driven by AI to help customers understand their emissions and guide them toward the most sustainable solutions. These include, for example, an Environmental Footprint Generator that calculates an EcoScore rating for every product sold from a scale of A-E, a Carbon Tracker Dashboard to help corporate customers understand the impact of their products purchased. In addition, an Eco Boost feature allows customers to view the most sustainable products per category in Rexel’s webshops.  Rexel has also launched Sustainable Selection, a range of more than 100,000 products considered top performers in terms of carbon emissions and circularity, and manufactured by companies committed to the company’s Sustainable Supplier Charter.

Rexel CEO Guillaume Texier will talk about the company’s approach in a ChangeNOW session on Friday April 25 entitled “Unwavering Ambition: The Private Sector in a Shifting Geopolitical Landscape.” This session will take place from 9.30 a.m. to 10.45 a.m. on the Collective Stage.

ABOUT CHANGENOW

ChangeNOW’s mission is to accelerate the ecological and social transition through the implementation of concrete actions that address major environmental and social urgencies. Every year, ChangeNOW organizes the largest event for solutions for the planet. The summit brings together entrepreneurs, investors, change leaders, policymakers, and the general public from around the world in an inspiring and action-oriented format.
As a key facilitator of the ecological and social transition, ChangeNOW federates a global ecosystem of change actors. Additionally, ChangeNOW carries out influential actions aimed at promoting systemic changes in various areas, such as impact-driven recruitment, supporting major educational institutions on ecological and social transition issues, empowering women engaged in the transition, and activating sports as a catalyst for change.
For more information, visit www.changenow.world


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The Rexel Foundation funds energy transition training through France’s national federation of technical colleges

The Rexel Foundation has teamed up with the Fédération Nationale des Écoles de Production, France’s national federation of technical colleges, to raise awareness of energy transition challenges. Through this partnership, a first selection of four schools will prepare students to work as qualified electricians or boilermakers/solderers with an eye on eco-friendly solutions.


An urgent need to address the climate emergency with specific skills in the energy sector

The construction, renovation and maintenance sector is playing a key role in driving the energy transition by installing energy-efficient products and solutions. With the technology constantly evolving, installers need to understand the latest innovations, have the skills to install them and be able to explain the benefits to customers.

The Rexel Foundation was set up to meet this challenge. Created in 2013 under the aegis of the Fondation de France, this philanthropic body focuses on raising public awareness energy transition challenges and supporting skills training to help drive positive change.

A new partnership to raise awareness and train young people

In line with this commitment, the Rexel Foundation is proud to announce a new partnership with the Fédération Nationale des Écoles de Production, France’s national federation of technical colleges. This network of not-for-profit, government-accredited technical colleges aims to help unqualified youths from challenging backgrounds find work, often against a backdrop of poverty or learning difficulties. Its hands-on approach to learning, “Faire pour Apprendre” (“Learning by Doing”) prioritizes teamwork in real-life professional settings.

To kick off the project, the Rexel Foundation will support four schools from the network. One of them is Les Pros d’Avenir in Limoges, which is currently training around 30 students to become qualified electricians or boilermakers/welder. In total, the program should raise awareness among more than 1,800 students in three years.

This partnership illustrates the Rexel Foundation’s concrete commitment to contributing to a more sustainable society, by enabling future young professionals to gain the tools they need to succeed in promising careers.

Patrick Carret, General Director of the Fédération Nationale des Écoles de Production, commented, “Students who receive this training will be motivated to consider product life cycles, recycling and waste reduction in their future careers as independent or salaried contractors.”

Céline Coulibre-Duménil, Secretary-General of the Rexel Foundation and Rexel’s Global Sustainability Director, added, “Companies and consumers have woken up to climate change but still need to make the energy transition a reality. Everyone can play a role. Thanks to this partnership with Écoles de Production, we’re engaging students in this important challenge and enabling them to acquire the skills they need to drive sustainability in their professional and personal lives.”


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Investor Relations
Ludovic DEBAILLEUX
ir@rexel.com
+33 (0)1 42 85 76 50

Press Relations
Laurence FROST
lfrost@brunswickgroup.com
+33 (0)6 31 65 57 06

2024 Universal Registration Document made available


Rexel’s 2024 Universal Registration Document, including the annual financial report for the 2024 financial year, was filed on March 10, 2025 with the French Autorité des marchés financiers (AMF).

The Universal Registration Document notably includes the following information:

  • The report on corporate governance prepared by the Board of Directors (including the compensation policy for corporate officers);
  • The description of the share repurchase plan;
  • The Sustainability Statement; and
  • The reports of statutory auditors and information regarding their fees.

The Universal Registration Document is available on Rexel’s corporate website (www.rexel.com/en) in the “Investors – Regulated Information” section and on the AMF’s website (www.amf-france.org). It is also available at no cost at Rexel’s headquarters, 13, boulevard du Fort de Vaux, 75017 Paris, France.


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Rexel Achieves CDP “A” Rating and SBTi Validation for Scope 3 Goals


Rexel is excited to announce two major milestones in its commitment to combat climate change. The company has been recognized by both CDP and the Science Based Targets initiative (SBTi) for its ambitious environmental goals, further solidifying its position as a leader in environmental sustainability.

CDP “A” Rating
Rexel has earned an “A” rating from CDP. This achievement recognizes the completeness, accuracy and transparency of the information disclosed by Rexel on greenhouse gas emissions, along with climate risks and opportunities. The rating also acknowledges the concrete actions taken by the company to limit its environmental impact. Committed to accelerating the energy transition, Rexel promotes sustainability across its business, from its own operations to the products, services and solutions offered to customers.

Science Based Targets Initiative (SBTi) Approval
In addition, Rexel is proud to announce SBTi approval of its newly expanded sustainability strategy, which includes a 35% reduction in all applicable Scope 3 emissions by 2030, compared to emissions only from the use of products sold previously. The company recently updated its targets to reflect changes in the organization and improved environmental data. Notably, Rexel has grown significantly worldwide, particularly in the United States and in electrification market segments. Rexel can now also calculate emissions on a product-by-product basis, extending beyond the emissions from the use of sold products to include product manufacturing and transportation.

Further, SBTi has approved Rexel’s renewed target to reduce Scopes 1 and 2 emissions by 60%. This approval ensures that Rexel’s ambitious strategy is credible and aligned with the latest climate science as the company achieves N Z by 2050.

Isabelle Hoepfner-Léger, Rexel’s General Secretary, Secretary of the Board of Directors, and Sustainable Development Director, said, “We are thrilled to have achieved a CDP ‘A’ rating and SBTi approval of our updated emissions reduction targets, and I thank all the teams involved in the process. At Rexel, we are actively working to limit climate change by reducing emissions from all areas of our business. As a leading distributor of electrical products, solutions and services, we have an important role to play in sharing environmental information and guiding manufacturers and customers toward the most sustainable options. These latest milestones demonstrate our progress in ‘electrifying solutions that make a sustainable future possible’.”


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Fourth-Quarter Sales & Full-Year 2024 Results


Sales & Ebita margin in line with revised guidance 2024; FCF conversion exceeding objective 

Positive North America momentum balancing softer environment in Europe

Transformation actions gaining momentum throughout 2024 – to be further amplified in 2025

FY 24 sales at €19,285.1m, up +0.7% on a reported basis

  • Same-day sales down (2.4)% in FY 2024; improving trends quarter after quarter
    • Q4 sales of €4,893.1m, down (0.5)% on a same-day basis (up +1.0% on an actual-day basis) thanks to positive momentum in North America, up +3.6%
    • Continued market share gains boosted by best-in-class services which includes digitalization
  • Active acquisitions strategy contributing for +2.9% to FY 24 sales growth

 

→ FY 24 current adjusted EBITA margin at 5.9%, demonstrating resilience in a difficult macro environment 

  • Structural cost actions combined with rapid cost adaptation (FTE down (2.7)% versus volume down (1.5)% yoy), to mitigate impact of sales decline on our profitability

 

  Digital sales penetration at 32% of sales in Q4 24, up +232bps

  • Digital sales now above €6bn in 2024, making Rexel one of the largest digital BtB players
  • Digital sales growth contributed to outperformance and productivity gains

 

→ FY 24 operating income of €845.9 million (vs €1,216.6 million in FY 23), including exceptional items (French Competition Authority fine for €124m against which Rexel has lodged an appeal, Goodwill impairment, acquisitions costs); net income of €341.0 million

 

Free cash flow conversion well above guidance at 76%, confirming our cash-generative model

 

→ Attractive return to shareholders: proposed dividend for 2024 of 1.20€ per share, for a 54% payout ratio, based on recurring net income of €662.3 million in 2024 (vs €823.3 million in 2023)

 

→ Executing our capital allocation strategy with a healthy balance sheet: indebtedness ratio at 1.83x

  • Share buyback: €100m shares repurchased in 2024; €300m since mid-2022
  • M&A: more than €500m of value creative acquisitions completed in 2024
  • Portfolio management: disposal of Rexel business in New Zealand, signed on February 1st, as a result of the continuous strategic review of our portfolio

 

2025 outlook: Stable to slightly positive same-day sales growth, current adjusted EBITA margin at c. 6% and free cash flow conversion at c. 65% (excluding the €124m fine from the French Competition Authority to be paid in 2025)

 

→ Confirmation of Rexel’s medium-term ambitions, driven by solid electrification trends, market outperformance, further transformation of the business model and acceleration of savings programs

Guillaume TEXIER, Chief Executive Officer, said: 

“In softer 2024 conditions than anticipated, especially in Europe, the Rexel teams seized the opportunity to demonstrate how the transformation of the last few years could positively impact the business by deploying advanced services, digital penetration and value solutions to customers, resulting in market share gains in several countries.

We leveraged our increased presence in North America, a region with solid prospects in which we have expanded through organic growth and active M&A with 9 acquisitions completed since 2021. We quickly adapted our cost base across the Group, allowing us to deliver resilient profitability and record high free cash flow conversion.

We are entering 2025 with good momentum on three aspects: market share gains, strong exposure to the positive North American market, and optimization projects. This acceleration of our transformation allows us to be confident that we are on track to reach our medium-term ambitions.”


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Investor Relations
Ludovic DEBAILLEUX
ir@rexel.com
+33 (0)1 42 85 76 50

New date for Rexel’s full-year results


The publication of Rexel’s full-year 2024 results and accompanying conference call, which had initially been scheduled for February 13, 2025, have been brought forward to Wednesday, February 12, 2025 after market close.
This change has been made in response to a large number of results publications in the sector. Timing and connection details will be communicated in the coming days.


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Investor Relations
Ludovic DEBAILLEUX
ir@rexel.com
+33 (0)1 42 85 76 50

Rexel launches faster, more responsive mobile app to put more power in installers’ pockets

Rexel is rolling out a faster and more powerful mobile app in Australia, following launches in France, Austria, UK, the Netherlands and Sweden. This “pocket toolbox” enables installers to consult and order the products they need three times faster than before, thanks to new features, like image-based product recommendations and smart reordering.


More powerful features…

Designed for small and medium installers working on construction sites or facility management systems, Rexel’s new app speeds up access to product information and purchases, helping users make informed decisions and save time on the job.

These new features include:

  • Image-based product recommendations enabling installers to submit a photo of an electrical panel and visualize related products*
  • A repeat purchase assistant displaying past purchases by product category
  • Quick-access buttons to essential features (“Find a product,” “My orders”, “My quotes”, etc.) from the home screen
  • A more powerful product search engine
  • Auto log-in for fast, secure access to a user’s account

…For an improved customer experience

Available anytime, anywhere from a mobile phone or tablet, this new native app was developed by Rexel’s R&D and software development teams in response to customer feedback.

Guillaume Dubrule, Rexel’s Chief Digital & Marketing Officer, commented, “We want to enhance the user experience across all our online and offline touchpoints to help customers build their businesses. This new app puts the best tools in installers’ pockets, enabling them to access Rexel’s expertise fast and at their convenience.”

To gather, analyze and interpret feedback from customers, Rexel has since several years a Voice of Customer team. “This team plays a crucial role in improving customers’ experience by helping us understand their evolving needs and preferences. Our new mobile app, offering fast and intuitive mobile access to our products, is concrete proof of our customer-centric approach,” concluded Guillaume Dubrule.

*available only in France


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Investor Relations
Ludovic DEBAILLEUX
ir@rexel.com
+33 (0)1 42 85 76 50

Press Relations
Laurence FROST
lfrost@brunswickgroup.com
+33 (0)6 31 65 57 06

Rexel’s reaction to the French Competition Authority’s decision on the special price agreement mechanism


Rexel was informed of the operative part of the French Competition Authority’s decision, which considers the so-called special price agreement mechanism (“dérogations”) as anti-competitive and sanctions Rexel, along with Schneider, Legrand and Sonepar. Rexel was ordered to pay a fine of 124 million euros.

Rexel considers that this dérogations mechanism, which is transparent and known to all market players, is a standard commercial discount on the purchase price granted by the supplier to the distributor, leaving it completely free to set its resale prices and offer its customers the most competitive offer.

Rexel will carefully study the Competition Authority’s decision and reserves the right to appeal its decision before the Paris Court of Appeal.


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Investor Relations
Ludovic DEBAILLEUX
ir@rexel.com
+33 (0)1 42 85 76 50

Press Relations
Laurence FROST
lfrost@brunswickgroup.com
+33 (0)6 31 65 57 06