Sales are up +2.4% to 19,153.4 ME in 2023 year-on-year on a reported basis, and +4.3% on a like-for-like and constant-day basis.
In Q4, sales were down by (1.6)% to €4,725.3m year-on-year on a reported basis, and by (1.4)% on a like-for-like and constant-day basis.
The adjusted EBITA margin of 6.8% in 2023 is down by -71 bps compared with 2022, or stable adjusted for non-recurring items that benefited the 2022 margin. Adjusted EBITA came to €1,300.1m (vs. €1,378.2m on a comparable basis in 2022), and reported EBITA to €1,285.9m.
Net income for the year came to €774.7m (vs. €922.3m in 2022). Recurring net income amounted to 823.3ME in 2023, down (9.7)% on 2022.
' We are now targeting, for 2024, on a like-for-like basis: stable to slightly positive constant-day sales growth, with a high base effect in the 1st half, an adjusted EBITA margin of between 6.3% and 6.6%, and a free cash flow conversion in excess of 60% ' says the group.
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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 
