France · Delayed Price · Currency is EUR Rexel Earnings Call Transcripts
Fiscal Year 2026
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The meeting reviewed strong 2025 financial results, confirmed stable dividends, and approved all resolutions, including director renewals and free share plans. Strategic focus remains on digitalization, sustainability, and operational efficiency amid global uncertainties.
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Q1 2026 delivered solid growth across all regions, driven by strong pricing, data centers, and solar activity, with limited impact from the Middle East crisis. Full-year guidance is confirmed, and backlog and digital sales are at record highs.
Fiscal Year 2025
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Delivered resilient 2025 results with 2.5% same-day sales growth, 6% adjusted EBITDA margin, and 76% free cash flow conversion, outperforming guidance. North America led growth, data centers surged, and digital/AI initiatives accelerated. 2026 guidance targets continued growth and margin expansion.
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Q3 2025 sales rose 3% on a same-day basis, led by North America and high-growth segments like data centers and broadband. Guidance for slightly positive full-year sales growth and a 6% adjusted EBITDA margin is confirmed, with digital and AI transformation ongoing.
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H1 2025 saw accelerating sales growth, resilient profitability, and strong cash flow, led by North America and digital transformation. Europe remained weak but market share gains continued in France, while five acquisitions strengthened the portfolio. Guidance for 2025 is confirmed.
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The meeting reviewed resilient 2024 results despite a challenging environment, with stable dividends, strong digital and sustainability progress, and the launch of a new strategic plan. All resolutions, including Board renewals and compensation, were approved.
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Q1 2025 saw a return to growth with 1.4% same-day sales increase, strong digital adoption, and robust North American performance. Guidance for 2025 is confirmed despite tariff and pricing uncertainties, with margin and volume impacts closely monitored.
Fiscal Year 2024
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2024 saw resilient performance amid tough markets, with EBITDA margin at 5.9% and strong free cash flow. North America drove growth, while Europe lagged, but market share gains and digital initiatives support a positive mid-term outlook.
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Q3 sales grew 2.1% reported, driven by acquisitions, but European market weakness and PV declines led to a downward revision of full-year guidance. EBITDA margin is now expected at 5.9%, with cost savings and headcount reductions underway.
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H1 2024 saw resilient performance with €9.6bn sales, 6% EBITDA margin, and record free cash flow, despite weak European markets. Guidance for 2024 is confirmed at the lower end, with stable pricing and continued cost actions expected to support margins.
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Strong growth and profitability improvements were achieved through electrification, digitalization, and disciplined M&A, with a focus on value-added services and sustainability. The strategy targets 5–8% annual sales growth, EBITDA margin above 7%, and increased exposure to high-growth adjacencies, supported by robust capital allocation and operational excellence.