Second Quarter Sales & Half-Year 2019 Results
SAME-DAY SALES GROWTH OF +2.4% IN Q2 2019
ADJUSTED EBITA UP +2.0% IN H1 2019, IN LINE WITH PLAN
FULL-YEAR 2019 TARGETS CONFIRMED
→ SALES OF €3.484bn IN Q2
- On a constant and same-day basis, sales up 2.4%, of which:
- Europe: -0.9%, or up +1.7% excluding branch closures in Germany and Spain
- North America: +6.8%, driven by project business in the US and Canada
- Asia-Pacific: +3.4% or up +4.5% restated for the impact of the disposal in Australia
- Organic actual-day growth of 1.8%, including -0.6% from calendar and -0.2% from copper
- Reported sales growth of 3.3%, including currency (+1.8 %) and scope (-0.3%) effects
→ ADJUSTED EBITA UP 2.0% IN H1 2019, DESPITE UNFAVORABLE CALENDAR EFFECTS TO BE REVERSED IN H2
→ NET INCOME UP 70.6% IN H1 2019 AND RECURRING NET INCOME UP 9.6%
→ FULL YEAR GUIDANCE CONFIRMED
“I am pleased with Rexel’s solid first-half performance, with continued organic sales growth in most key markets and profitability growth according to plan. This marks the 11th consecutive quarter of improved organic sales, demonstrating that Rexel has returned to sustainable growth.
Rexel also showed in the first half of the year its regained capacity to adjust rapidly to adverse conditions both in the macro-economic environment and in specific markets.
This improved operational flexibility makes me confident in our ability to deliver our 2019 targets, with the company increasingly focused on operating leverage and continuing its digital transformation journey.”
Patrick Berard, Chief Executive Officer