Third-Quarter 2021 Sales: Solid performance
Same-day sales up +11.5% vs Q3 2020
Price discipline in an inflationary environment
Building on a strong US platform with the Mayer acquisition
Guidance confirmed
→ Sales of €3,555.1m in Q3 2021, up +11.5% on a same-day basis
- All geographies above pre-crisis level (+6.7% vs Q3 2019)
- Same-day sales growth largely benefiting from positive pricing on both cable (contribution: +6.3%) and non-cable products (contribution: +5.2%)
- Confirmed ability to pass on price increase in all geographies and more specifically in Europe where price increases on non-cable products have accelerated in Q3 2021
- Excellent performance in France, good sales in Central Europe, still room for further recovery in North America. Volumes above pre-crisis level in Europe; still behind in North America and Asia Pacific
- Digital same-day sales up +21.6% in Q3, now representing 22.4% of total sales (and 33.2% in Europe), up +183 bps compared to Q3 2020
→ Leveraging data, optimized supply chain and expertise to navigate the current supply environment – limited impact of product availability to date
→ Agreement to acquire Mayer (USD1.2bn sales over the last 12 months through end-August 2021, 68 branches, 1,200 FTE) for an Enterprise Value of USD456m. A new chapter for Rexel, scaling its local presence in the Southeastern part of the US
→ 2021 guidance confirmed ; on track to achieve mid-term ambition
“With a solid third-quarter performance, Rexel grew above its pre-crisis levels for the third consecutive quarter, demonstrating its ability to capture demand in renovation markets, electrification and the energy transition.
The current environment, marked by inflation and limited product scarcity, is a great opportunity for Rexel to demonstrate the strength of its model and the depth of its offer to better serve its customers. This quarter’s performance makes us very confident in our ability to reach our 2021 objectives.
These robust numbers show that we now have a strong platform on which we can build, as we are doing with Mayer, a great company whose acquisition marks a step-change for Rexel in one of its key geographies, North America.”
Guillaume Texier, CEO of Rexel