Rexel Reports a Solid Start to the Year

PARIS — Rexel today reported its first quarter 2026 financial results.

Rexel had a strong start to 2026, returning to growth in all three of our regions. North America remains our primary driver, supported by strong momentum in our high-growth segments, leveraging our unique value proposition in the data center market. We also expect an increased contribution from Asia Pacific and Europe to this positive momentum in 2026. The ongoing conflict in the Middle East has increased global macroeconomic uncertainties, but it also demonstrates that our transformation is paying off, making Rexel more agile. While seizing the opportunities related to electrification, driven by rising energy costs for our customers, we have also taken steps to offset the impact of these increases on our operating expenses. Building on this strong start to the year, we confirm our outlook for the full year and remain confident in our ability to deliver profitable growth, while continuing to implement our Axelerate 2028 roadmap. ~Guillaume Texier, General Manager

→ Sales of €4,736.9M in Q1 2026 [USD 5,551.65M], up +3.4% at constant exchange rates

• North America continues its solid growth trajectory, with sales up +5.8% on a like-for-like basis, mainly driven by high-growth segments (data centers and broadband infrastructure)
  • The double-digit growth in the order book (vs. Dec. 2025) provides good visibility
• Europe is continuing its gradual recovery, with a rebound in electrification that could provide an additional source of growth in the context of the crisis in the Middle East.
• An excellent start to the year in Asia-Pacific, driven in particular by strong momentum in the solar and battery sectors in Australia
• Higher-than-expected price effect (Middle East, second wave of tariffs) offsetting a temporary weakness in volumes (bad weather in North America and Europe, temporary delay of major projects, selectivity of margins)

→ Steady growth in digital penetration rate, reaching 36% of sales in Q1 2026, up +217bps

→ Acquisition of Techno-Contact 360 in Canada, finalized on April 20, strengthening our expertise in electrical distribution, industrial automation, data centers and services

→ Rapid adaptation to the uncertain environment, with a proven ability to capture demand from energy transition markets, pass on price increases, and offset rising energy costs

→ 2026 targets confirmed: like-for-like sales growth of 3% to 5%, adjusted current EBITA margin of approximately 6.2% and free cash flow conversion above 65%