Rexel, a leading global player in the distribution of electrical supplies, today announced its financial results for the second quarter and the first half of 2024. The company demonstrated resilient profitability and record free cash flow generation despite a challenging market environment.
Key Highlights:
– Q2 2024 Sales: Increased by 1.8% on a reported basis, driven by strategic M&A activities in Europe and North America.
– H1 2024 Sales: Totaled €9,629.7 million, a decrease of 3.5% on a same-day basis, with a gradual improvement observed in Q2.
– Digital Sales: Reached 31% of total sales in Q2, up 290 basis points, enhancing future productivity gains.
– Profitability: Adjusted EBITA margin held steady at 6.0%, supported by cost management and productivity initiatives.
– Free Cash Flow: Achieved a record €335.5 million, demonstrating the robustness of Rexel’s business model.
– M&A Activity: Completed acquisitions of Talley and Wasco, and signed agreements to acquire Electrical Supplies Inc and Itesa, reinforcing market positions.
Guillaume Texier, Chief Executive Officer, commented, “Rexel’s performance in the first half of 2024 underscores the strength and adaptability of our business model. We are confident in our ability to navigate the complex market conditions and achieve our 2024 outlook.”
Further details of Rexel’s Q2 & H1 2024 results can be found in the H1 2024 financial report available below
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