First-Quarter 2021 Sales
STRONG START TO THE YEAR WITH SAME
DAY SALES UP +8.6%
GROWTH DRIVEN BY ROBUST BUSINESS MODEL, HEALTHY DEMAND AND ACCELERATING RECOVERY
POSITIVE PRICING ENVIRONMENT TO ACCELERATE IN COMING QUARTERS
→ Sales of €3,331.2m in Q1 2021, up +8.6% on a same day basis
- Positive momentum in all geographies, leveraging our multichannel set up, increasing demand for
electrical products and the improving health situation in many markets - China up +60.1% (+140bps contribution to group same day sales growth), first country to recover from COVID-19 crisis, paving the way for other geographies
- Positive pricing contribution in cable (+290bps) and non cable (+240bps) products ; trend expected to accelerate in coming quar ters
→ Activity above pre-crisis level for the first time: same day sales growth +5.4% above Q1 2019
→ Full capacity to capture the recovery thanks to our agile business model leveraging our intact branch
network and further boost in digital adoption
→ Digital revenue in Q1 2021 represented 22.6% of total sales, up 242 bps despite tough base effect as digital activity surged in the pandemic last year
→ FY 2021 guidance confirmed
“I am extremely pleased with the strong start to the year, demonstrating the relevance of the strategy we presented at our Capital Market Day and reflecting robust underlying demand from increasing electrical usage and the energy transition. The strong quarter also demonstrates the continuing increased effects of our deep digital transformation, as substantiated by the growth in digital sales penetration, now at 22.6% of sales. Our teams further demonstrated their agility and ability to adapt to a constantly changing environment, to react and deal with certain end markets still deeply affected by the pandemic as well as sudden price increases and scarcity of products. In this context, the role of the distributor in the value chain is again reinforced as we support customers in better managing the situation. Our Q1 sales together with trends we have seen in April reinforce our confidence in achieving our full year targets and medium term ambition.”
Patrick Berard, CEO of Rexel