Third-quarter & 9-month 2012 results
REPORTED SALES UP 7.2% IN Q3 AND 6.8% IN THE 9 MONTHS
RESILIENT PERFORMANCE IN A CHALLENGING ENVIRONMENT
FULL-YEAR PROFITABILITY AND CASH-FLOW TARGETS CONFIRMED
NEW STRATEGIC ACQUISITION IN THE US
Solid growth in reported sales
• Reported sales up 7.2% in Q3 and up 6.8% in the 9 months
• Strong contribution from acquisitions and positive currency effect more than offset the decrease in organic sales
Resilient performance in increasingly challenging conditions
• Q3: Reported EBITA up 3.9% and Adjusted EBITA1 margin of 5.6%
• 9 months: Reported EBITA up 8.2% and Adjusted EBITA1 margin of 5.6%
Full-year profitability and cash-flow targets confirmed
New strategic acquisition in the US: MUNRO DISTRIBUTING COMPANY
Rudy PROVOOST, Chairman of the Management Board and CEO, said:
“In the past quarter, we demonstrated the resilience of our business model despite a challenging environment. Supported by acquisitions and driven by our Energy in Motion initiatives, Rexel posted solid growth in reported sales and reported EBITA. The strategic acquisition of Munro announced today is a further demonstration of our commitment to increase our footprint in the US market and expand our offer in Energy Efficiency solutions.
In an increasingly uncertain macroeconomic context, we target mid- to high- single-digit growth in reported sales and reported EBITA for the year and confirm our targets of profitability and cash generation with an adjusted EBITA margin of 5.7% and free cash-flow before interest and tax of around €600m.”