Rexel Reports Profit For FY21

Rexel SA (RXLSF.PK), a French electrical, heating, lighting, and plumbing equipment company, on Friday posted a turnaround to profit for the fiscal 2021, amidst rise in sales, supported by a market recovery and its five acquisitions reported last year.

For the fiscal 2021, the Paris-headquartered firm posted a net income at 597.6 million euros, compared with a loss of 261.3 million euros, posted for the fiscal 2020.

Recurring net income of the firm posted at 575 million euros as against 277.7 million euros.

Operating income for the 12-month period registered at 911.8 million euros, compared with a loss of 3.4 million euros, year-over-year basis.

Owing to higher demand, the French equipment firm posted its adjusted EBITA and reported EBITA at 906 million euros and 963.7 million euros, respectively, compared with 526.4 million euros and 537 million euros.

Rexel said it will propose a cash dividend of 0.75 euros per share. The dividend is payable in early June.

Guillaume Texier, CEO, commented: “Rexel’s record results in 2021 attest to the success of our recent transformation. ..Our 5 acquisitions of 2021, most notably Mayer and a utility distribution business in Canada, representing more than 1 billion euros of sales in a full year, are also contributing more than anticipated.”

Reported sales on a constant and same-day basis, were registered at 14.69 billion euros, versus 12.59 billion euros.

Looking ahead, for the fiscal 2022, the company expects to record same-day sales growth between four percent and six percent. It also anticipates adjusted EBITA margin above six percent and free cash flow conversion above 60 percent for the year.

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