PARIS, Oct. 7, 2015 (GLOBE NEWSWIRE) -- The deterioration of the macro-economic environment in which Rexel has been operating since it announced its quarterly results on July 29, along with the expected trends for the remainder of the year, have led the Group to revise its financial targets for the full-year.
Rexel now expects to post a drop in sales on a constant and same-day basis of between 2% and 3% in the full-year (vs. the guidance given on July 29 of an organic decline of a maximum of 2% on a constant and same-day basis).
In this context of a revised annual sales forecast, Rexel should generate an adjusted EBITA margin in the full-year of between 4.3% and 4.5% (vs. the guidance given on July 29 of an adjusted EBITA margin of at least 4.8%).
Rexel confirms its ability to generate structurally, as well as in 2015, solid cash-flow of:
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At least 75% of EBITDA before interest and tax,
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About 40% after interest and tax.
Sales in the third quarter reflected the deterioration of the macro-economic environment, with an estimated drop of around 3.5% on a constant and same-day basis (after -0.4% in Q1 and -1.6% in Q2), of which:
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Europe c. -1%,
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North America c. -7%,
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Asia-Pacific c. -1%.
Rexel's management will answer questions relating to the adjustment of its full-year 2015 targets during a conference call to be held today at 9:00 am CET.
All questions relating to the Q3 and 9-month 2015 performance and results by geography will be answered during the usual conference call that follows each release of quarterly results on Friday, October 30 (press release at 7.30 am CET and conference call at 10:00 am CET).
CONFERENCE CALL
To listen to the conference call, please dial-in:
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from France +33 (0)1 70 99 32 08 (code 955615)
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from United-Kingdom +44 (0) 207 162 0077 (code 955615)
ABOUT REXEL GROUP
Rexel, a global leader in the professional distribution of products and services for the energy world, addresses three main markets - residential, commercial and industrial. The Group supports its customers to be at their best in running their business, by providing a broad range of sustainable and innovative products, services and solutions in the field of technical supply, automation and energy management. Rexel operates through a network of some 2,100 branches in 35 countries, with c. 28,000 employees. The Group's sales were €13.1 billion in 2014.
Rexel is listed on the Eurolist market of Euronext Paris (compartment A, ticker RXL, ISIN code FR0010451203). It is included in the following indices: SBF 120, CAC Mid 100, CAC AllTrade, CAC AllShares, FTSE EuroMid, STOXX600. Rexel is also part of the following SRI indices: DJSI Europe, FTSE4Good Europe & Global, EURO STOXX Sustainability, Euronext Vigeo Europe 120 and ESI Excellence Europe. Finally, Rexel is included on the Ethibel EXCELLENCE Investment Register in recognition of its performance in corporate social responsibility (CSR). For more information, visit Rexel's web site at www.rexel.com
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FULL-YEAR 2015 TARGETS ADJUSTED http://hugin.info/143564/R/1957234/713047.pdf
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