Rexel : The decline in prices in Q2 a concern, overshadowing the resilience of the margin
>Q2 2024: sequential improvement on volumes, but prices into negative territory - Rexel reported its H1 2024 earnings yesterday morning. For Q2 alone, the organic decline in sales was 2.4% (consensus at -1.5%), of which a volume effect of -0.9% (after +2.3% in Q3 2023, -1.5% in Q4 2023, -3.1% in Q1 2024), marking a sequential improvement. Conversely, prices excluding cables were negative at -1.1%, while they were flat in Q1. According to management, less than 10%...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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