Rexel : Reasonable Q1 sales down -3.3% (vs -4%e), but -27.7% in early April
>Q1 slightly less negative than expected - Reported sales reached € 3,225m, which is slightly above our forecast (€ 3,177m) and that of the consensus (€ 3,092m). The organic decline on a same-day basis came to -3.3% vs. our forecast of -4.0% and the consensus of -7.6%. Each of the major regions lost momentum: Europe with -1.5%, North America with -4.8% and Asia-Pacific with -8.3%. The weakest link in Q1 was China, which posted a -24.4% drop in sales; this is not as st...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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