Rexel Reports Third-Quarter 2023 Results

PARIS — Rexel today announced its third quarter 2023 financial results.

Highlights:

• Further growth in a more mixed market environment: +2.6%
• Volumes up +2.3%, with solid performance in North America and Europe
• Full-Year 2023 guidance confirmed
• Sales of €4,665.1m [USD $4940.81M] in Q3 2023, up +2.6% on a same day basis
• Volumes up +2.3% on the back of high electrification comparable base and more mixed market environment, demonstrating the strength of Rexel’s market positioning
• Favorable pricing environment on non-cable products, up +1.3% in the quarter
• Full-Year 2023 guidance confirmed: Resilient growth, sustained profitability and strong cash generation thanks to Rexel’s strategic action plans
• Well on track to achieve our 2025 ambition; an update on Rexel’s strategic roadmap will be presented at a Capital Markets Day in June 2024
• Completion of the Wasco acquisition on September 1^st, giving Rexel exposure to the fast-growing Dutch HVAC market, driven by energy efficiency regulations
• Successful issuance of a €400m Sustainability Linked Bond maturing in 2030, at a competitive rate of 5.25%

Quarter after quarter, the Rexel teams demonstrate their ability to deliver consistent profitable growth. It is particularly satisfying that this growth was achieved this past quarter despite a less favorable environment and on the back of a particularly high 2022 comparable base.

2023 is unfolding according to plan and we confirm our Full-Year guidance, which we upgraded in July. The second half should provide further affirmation that the Group’s transformation is delivering results. Our relentless focus on cash generation, efficiency and margin optimization is paying off, while our initiatives on fast-growing electrification segments, advanced services and digital are building differentiation and mid-term growth potential. ~Guillaume Texier, Chief Executive Officer of Rexel

For the full report, click here, scroll down, and download the press release.