Rexel: Despite difficult market conditions, optimistic quarterly report
Rexel realized a turnover of EUR 3,160.6 m in the 1st quarter 2016, 1.4% less than last year.
EBITA amounted to EUR 113.8 m, which is 10.0% less than in the 1st quarter 2015, while the operating result stood at EUR 93 m and 11.4% below last year. Net profits stood at EUR 38.8 m, a plus of 67.5%.
In Europe EUR 1,795.1 m was realized, a slight plus of 0.3% compared to 2015, while in France the increase was 2.5%, although the improvement in the construction industry will not have any effect until the later quarters. In the United Kingdom there was a drop of 1.1%, and Germany was 3% down.
In North America EUR 1,074.60 m was realized, minus 4.4%; in the Asia-Pacific region turnover stood at EUR 284.45 m, a drop of 2.2% compared to last year.
On the whole there was satisfaction at Rexel with these developments, although varying problems are arising in the different regions of the world, e.g. trends in copper prices, oil and gas markets and currency exchange relationships.
However, there are also bright spots such as the recovery in the construction industry in a few European countries, which will lead to additional activities in the second half-year.