Rexel in the 1st quarter
Rexel generated sales of 3,315.0 m EUR in the first quarter of 2019, an increase of 3.1% compared to the previous year; mainly due to dynamic growth in the US (+ 9.8%), China (+ 8.2%) and some key markets in Europe (France + 2.7%, Benelux + 13.3%, Scandinavia + 6.8%). Sales were as follows: 55% were made in Europe, 37% in North America and 8% in Asia / Pacific.
The decline in Germany (-19.9%), UK (-7.5%) and Spain is mainly due to the large number of branch closures in Q4-2018 and this quarter.
The outlook for the full year has been confirmed, with sales growth of 2-4% and an adjusted EBITA of plus 5-7%.