Leading the bright future of electrical distribution
28 July 2021
Hal year financial report was authorized for issue by the Board of Directors held on July 27, 2021
1 Key Highlights
An excellent Q2 and H1 performance, demonstrating the strength of our model
Sales growth acceleration: Q2 21 sales +9.6% above Q2 19 (Q1 21 was +5.4% above Q1 19), outperforming the market
Ability to ensure business continuity in an environment impacted by
lower availability of products/components
Growth driven by proximity and a pick-up in industrial demand
Increased pricing contribution in Q2 21 with additional price increases to be announced in H2
Same-day sales in North America are back to pre-crisis levels, with a strong pricing contribution and robust demand in proximity
Volumes in North America are still 15% below Q2 2019 level, leaving room for further recovery
Q2 21 Same-day sales growth
+32.3% vsQ220
Or +9.6% vs Q2 2019
NPS score in key countries
Improving
Robust 5.6% Adj Ebita margin in H1 21, leveraging our digital evolution
Compared to end 2020
and our focus on customer service, price management and FTE
DIGITAL SALES PENETRATION IN Q2 21
control in a recovery phase
reaching an indebtedness ratio1 between 1.5x and 2x depending on
33.2%inEurope
Rapid deleveraging thanks to strong FCF, bolstering our confidence in
M&A opportunities
up +44 bps
1. Net debt / EBITDAaL ratio as calculated under the SCA terms
3
Proven agility in a disrupted market environment
Price increase
acceleration
Increasing scarcity of
products
Uneven recovery
in end-markets
• People management and tools to limit potential •
Active inventory management
lag in passing on price increase
•
Sales force training
Strong focus on price revision clause in our contracts
•
Support customers in finding alternative choices, •
Collaborating with suppliers on new structural
leveraging our multi-banner model In the US
solution launches (connected drum)
• Increasing supply chain planning
•
Increasing digital interaction with suppliers
•
Allocate adequate resources
•
Increased usage of telephone & web
•
Agility in procurement to cope with change in
•
Increased statistical credit risk to manage
mix
Further market outperformance and high NPS ranking
4
Sharp improvement in key financial aggregates in H1 2021
SAME-DAY SALES GROWTH
+19.9% vsH120
Or +7.6% vs H1 19
FCF BEFORE
INTEREST & TAX
€116.3m
vs. H1 20 at €176.8m
vs. H1 19 at €(17.3)m
GROSS MARGIN
25.6%
Up +99bps vs. H1 20
Up +59 bps vs H1 19
NET DEBT
€1,523m
vs. €1,690m in H1 20
vs. €2,173m in H1 19
ADJUSTED EBITA MARGIN
5.6%
Up +232bps vs. H1 20
Up +99bps vs. H1 19
LOWEST INDEBTEDNESS RATIO SINCE IPO IN 2007
1.79x
vs. 2.59x in H1 20
vs. 2.86x in H1 19
5
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Rexel SA published this content on 28 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2021 06:32:05 UTC.
Rexel is the world's leading professional distributor of electrical equipment. Present in 19 countries, the Group offers electrical products and solutions to professionals for buildings and for residential, industrial, and tertiary infrastructures, through a multi-brand network of 1,972 outlets. The products and solutions marketed by the group are in response to demands for electrical equipment, lighting, security, climate control, communication, industrial automation, and energy savings. The activity is organized around 3 markets:
- tertiary: malls, sports facilities, hospitals, airports, etc.;
- industry: system integrators, production site builders and equipment producers;
- residential: comfort, security, and home automation.
Net sales are distributed geographically as follows: Europe (50.2%), North America (43%) and Asia/Pacific (6.8%).
REXEL 
