Trading update: Upwards revision in FY 2021 outlook
- FY same day sales growth between 12% and 15% (vs 5%-7%)
- FY adjusted Ebita margin expected to be around 5.7% (vs c. 5.0%)
- H1 2021 results released on July 28th 2021
Rexel is today providing an update on its full-year 2021 outlook
The company experienced better-than-expected business activity during the first half of 2021, with a sequential improvement in Q2, supported by market outperformance in a favorable global environment, both in terms of volume and price. Rexel is demonstrating its ability to capture further pockets of growth, leveraging its profound digital transformation to better serve its customers amidst continuing product scarcity. Rexel is expanding its role in the value chain and managing uneven product availability by providing alternative solutions to its customers, as reflected in our high NPS score. By market, we see robust growth in building renovation, driven by increased demand in building units and number of products as well as sequential improvement in the industrial segment. By geography, we see accelerating trends in all key countries including in North America, with activity now back to its 2019 level.
“As presented during our last Capital Market Day, Rexel is benefiting from an unprecedented convergence of positive trends related to customer needs, supplier offering, societal factors and Rexel’s positioning in its market. This is driven by an accelerated demand for electrification solutions, a continued increase in digitalization, a lean and efficient organization and an improved customer service experience, all resulting in market share gains. Having demonstrated our strong resilience throughout the sanitary crisis, I am very pleased to see that the initiatives taken over the past three years are rewarding us as the industry continues to benefit from long-term growth drivers.”
Patrick Berard, CEO of Rexel