Third-Quarter 2019 Sales
REVENUE GROWTH FOR THE 12th CONSECUTIVE QUARTER
SAME-DAY SALES UP 0.9%
FULL-YEAR FINANCIAL TARGETS CONFIRMED
→ SALES OF €3,422.2bn IN Q3
- On a constant and same-day basis, sales up 0.9%, or 1.9% excluding asset disposals and turnaround measures, of which:
- Europe: down 0.7%, or +1.0% excluding branch closures in Germany and Spain
- North America: +2.8%, driven by Canada
- Asia-Pacific: +2.7%
- Organic actual-day growth of 1.9%, including +1.0% from calendar and -0.3% from copper
- Reported sales growth of 3.3%, including currency (+1.7%) and scope (-0.3%) effects
→ SLOWER GROWTH THAN IN Q2 2019 EXPLAINED BY LOWER INDUSTRIAL DEMAND, ESPECIALLY IN THE US AND IN GERMANY, AS WELL AS BUSINESS SELECTIVITY AND EXPECTED UNFAVORABLE BASE EFFECT
→ DIGITAL REVENUE UP 13.2% IN Q3, NOW REPRESENTING 17.5% OF TOTAL SALES AND 26.3% OF SALES IN EUROPE (up 300 bps)
→ FULL-YEAR FINANCIAL TARGETS CONFIRMED
“Rexel posted sales growth for the twelfth consecutive quarter in Q3, demonstrating the continuing effectiveness of the various initiatives we have been implementing over the past three years. The third quarter saw a slowdown in growth, partly due to a more difficult environment in the industrial segment in the US and Germany. It also reflects a conscious decision by the Group to be more selective in our mix of business in order to improve profitability and cash generation. Despite a challenging environment, we remain focused on reaching our full-year financial targets.”
Patrick BERARD, CEO