Rexel : Croissance révisée en baisse en 2020 et en hausse en 2021
>Ajustements de nos chiffres, surtout en 2020 - Le T1 a été en ligne avec nos attentes (-3.3% organiques) mais le début du T2 à -28% nous entraine sous nos estimations antérieures. Nous prévoyons désormais un recul de -8% du CA annuel (vs -4%) et une marge d’EBITA ajusté de 4.1% (vs 4.6%). Pour 2021 en revanche, nous tablons désormais sur un rebond du CA de 4.5% (vs 3.2%) et une marge de 4.8% (inchangée). Le groupe estime que la reprise pourrait être lente et progress...Rexel distributes low and ultra-low voltage electrical products to contractors, industrial and commercial customers (industrial and commercial companies, municipalities, public entities, parts manufacturers and panel builders). Its products are used for new installations, or maintenance & repair of existing installations. Its products covers Electrical Installation Equipment, Conduits and Cables, Lighting, Security & Communication, Climate Control, Tools, White & Brown Products. Co. also offers services to its customers, such as logistics & distribution, technical assistance & training. Co. operates mainly in four geographical areas: Europe, North America, Asia-Pacific and Latin America.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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