Rexel : Interim sales slightly better, margin in line, very positive FCF. No guidance for 2020
>Figures in line or better than expected in H1 - Revenues came in at € 6,046m for the first six months, reflecting an organic contraction on a constant number of trading days of 10.6%, (we were forecasting € 5,897m, -12.5%), with Q2 at € 2,820m (-17.7%). In Q1, sales contracted by 3.3%, and at the start of April, they were -28%. In Q2, Europe declined by 16.7%, North America by 23.0% and Asia-Pacific by 0.6%. Operating profit (adjusted EBITA) came in at € 199.3m, i.e....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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