Rexel in 1st quarter 2015

Rexel made a turnover of EUR 3,286.2 m in the 1st quarter 2015, 1% less than in the prior year (EUR 3,319.1 m).Net profits fell by 52% to EUR 20.7 m.

In Europe (54% of corporate turnover) the figure stood at EUR 1,785.5 m, 0.3% less than in the prior year. France (EUR 589 m) fell by 3.6%, mainly due to a heavy decline in cable sales. In the United Kingdom the photovoltaic sector crashed (-24%), with turnover falling by 1.2% to EUR to 276.2 m. In Germany EUR 194.9 m (-1.4%) was made, in Scandinavia EUR 220.4 m (+7.6%) and in the rest of Europe EUR 505 m (+1,4%).

In North America (34% of corporate turnover) the turnover fell by 1.4% to EUR 1,128.5 m with USA: EUR 860.1 m (-1.4%); Canada: EUR 268.4 m (-1.5%)

The Asia /Pacific region (EUR 307.6 m; 10% of corporate turnover) lost 2.9%, and all countries were affected by the drop. China: EUR 104.8 m (-5.0%); Australia: EUR 121.8 m (-7.6%); New Zealand: EUR 28.5 m (-6.5%).

In Latin America (2% of corporate turnover) turnover fell by 1.1% to EUR 64.6 m. Rexel has already announced that this section with its main countries of Brazil, Chile and Peru is to be sold to Sonepar in order to be able to concentrate on Europe, North America and Asia/Pacific. The sale price is said to amount to EUR 47 m. The deal still awaits the approval of the cartel authorities.

The net loss amounted to EUR 2,652.5 m at the end of the 1st quarter, 10.3% more than in the corresponding period of the prior year. The group employed 29,804 people worldwide (-0.9%), the number of branches fell by 1.9% in comparison with the prior year to 2.214.