PARIS — Rexel today reported its second-quarter and first-half of 2026 results.
“Rexel achieved very strong results in the first half of 2026, and I would like to thank all our teams worldwide for making this performance possible,” said Guillaume Texier, General Manager. “In an unstable geopolitical environment, we fully capitalized on the positioning we have built over the years around the structural trends of electrification in Europe and North America, enabling us to achieve revenue growth exceeding our initial expectations. This momentum, combined with higher selling prices and rigorous cost management, allowed us to achieve a very solid profitability level of 6.2%. These results, and the visibility we have for the remainder of the year, lead us to raise our growth and profitability targets for 2026. Beyond 2026, the ambitious transformation projects undertaken as part of our Axelerate 28 strategic plan are progressing well and paving the way for achieving our medium-term objectives. These include the development of value-added services, the continued deployment of digital and artificial intelligence tools, as well as an active acquisition strategy, with three deals already completed this year.”
HIGHLIGHTS:
- Accelerated sales growth in Q2 across all regions
- Adjusted EBITA margin up approximately 40 bps to 6.2% in H1 2026
- 2026 targets raised
KEY FACTS:
Sales of €9,989 million in H1 2026, up 5.1% at constant exchange rates, with sequential acceleration driven by strategic investments in high-growth segments
- Q2 sales amounted to €5,252M, up 6.7% on a like-for-like basis, with positive momentum in all regions
- Sequential acceleration driven by value-added services in North American data centers and electrification solutions in Europe
- Positive volumes in all regions for the first time since Q2 2023, with Europe back in positive territory
- Favorable trend in sales prices in all regions
Three strategic acquisitions in North America, strengthening our value-added service offering and our industrial automation activities, including the acquisition of Dee Electronics, finalized on July 10
Adjusted EBITA margin of 6.2%, an increase of approximately +40bps, compared to 5.8% reported in H1 2025
- The effect of operational leverage and higher selling prices, combined with the successful execution of our cost-saving plans and the accretive effect of portfolio management operations
- Unadjusted current EBITA margin for H1 2026 at 6.4%, including a one-time positive effect from copper
Operating result for H1 2026 of €605M (vs €506M in H1 2025), including exceptional items (restructuring, asset impairment, capital gains on disposals)
Net income for the first half of 2026 of €342M, up +31%; recurring net income up sharply by +12.6% to €347M
Goals :
- 2026 targets raised : Like-for-like sales growth of around 5% (vs. 3-5% previously), adjusted current EBITA margin of at least 6.2% (vs. around 6.2%) and free cash flow conversion above 65% (unchanged)
- Rexel’s medium-term ambitions are confirmed with the implementation of the Axelerate 2028 strategic plan.