Third-Quarter 2020 Sales
GOOD RECOVERY WITH SAME-DAY SALES DOWN 4.2%
ROBUST PERFORMANCE SUPPORTED BY BEST-IN-CLASS CUSTOMER SERVICE AND DIGITAL OPERATIONS
CONTINUED DISCIPLINE ON OPEX AND FOCUS ON CASH FLOW MANAGEMENT
→ SALES OF €3,157.8M IN Q3 2020
- On a constant and same-day basis, sales down 4.2% in Q3 20, recovering sharply from -17.7% in Q2 20.
- Gradual improvement, with progressive recovery in Europe and Asia-Pacific, while North America is lagging with very diverging trends between regions/markets.
→ DIGITAL VALUE PROPOSITION IS A BUSINESS ENABLER; DIGITAL REVENUE IN Q3 20 REPRESENTING 20.5% OF TOTAL SALES (INCLUDING 30.6% OF DIGITAL SALES IN EUROPE), UP 261 bps COMPARED TO Q3 2019
→ VISIBILITY STILL TOO LOW TO PROVIDE FY 2020 GUIDANCE, BUT MID-TERM OPPORTUNITIES REMAIN ATTRACTIVE
→ GROUP ACHIEVEMENTS AND PRIORITIES REMAIN BEST-IN-CLASS CUSTOMER SERVICE (NPS IMPROVEMENT), DIGITAL TRANSFORMATION (INCREASE IN DIGITALLY CONNECTED CUSTOMERS), PROFITABILITY MANAGEMENT (COST FLEXIBILITY) AND FREE CASH FLOW GENERATION
“During this COVID-19 crisis, I am very pleased at Rexel’s ability to showcase its best-in-class customer service and expanding the offering of digital solutions. Thanks go to our employees who quickly adapted to ensure business continuity working under a regime of high-level sanitary protection requirements. As a result, I am proud of our solid Q3 sales growth which shows a strong recovery from the previous quarter, albeit with very divergent trends between markets and regions. In an environment that remains uncertain, Rexel will continue to be agile and to adapt to the business mix evolution. We will continue to focus on profitability and free cash flow generation, as demonstrated in our first-half results. The benefits of our digital transformation position us to continue our journey as a true leader in providing multichannel solutions for every customer segment.”
Patrick Berard, CEO of Rexel