Rexel SA (RXL:EN Paris) of Paris reported first quarter sales of €3,154m ($4.16 billion USD). The automation distributor’s sales were down 2.3 percent compared to the same period in 2012 on a reported basis. On a constant and same-day basis, Rexel’s sales trends improved sequentially (-3.7% vs.-4.7% in Q4 2012), according to a company press release, and were driven by improved growth in the U.S. market (+2.8% on a constant and same-day basis).
“Rexel’s first quarter performance proved resilient in a challenging environment, excluding a strong negative calendar impact,” said Rudy Provoost, chairman of the management board and CEO. “Organic sales grew sequentially in comparison with the last quarter of 2012, driven by increased revenue in the recovering US market, while gross margin further improved year-on-year and operating costs were strictly controlled.”
Provoost went on to say that Rexel’s organic growth trend is “likely to remain negative in the second quarter, with an expected return to growth in the second half, helped by improving indicators in North America and fast-growing countries.”Tagged with tED