Rexel Full-Year Report 2022
Guillaume TEXIER, Chief Executive Officer, said: “Rexel had another excellent year in 2022, performing above the upgraded guidance it provided in Q3 and confirming that Rexel can consistently deliver in terms of profitability, agility and resilience. The Group’s record results enable it to pay an all-time high dividend to shareholders. The indebtedness ratio, below 1 time for the first time ever, leaves ample room for value-creating acquisitions and further share buybacks. 2022 was also the year that saw a step change in electrification trends worldwide.”
Highlights
- FY 22 sales of €18,701.6m, up +14.1% on a same day basis, driven by both volume and prices. Sales growth boosted by accelerating electrification trends in Europe.
- Q4 22 sales of €4,802.3m, up +12.3% on a constant and same-day basis
- FY adj. EBITA of €1,368.5m, up +35.7% and adjusted EBITA margin at 7.3% (up +118 bps) from robust activity coupled with our more efficient organization. Adj. EBITA margin includes 66 bps of positive one-off effects from inventory price inflation on non-cable products, net of higher performance-linked bonuses
- Recurring net income up +58.6% in FY 2022 to €911.8m, reaching a new all-time high, leading to a record dividend of €1.20 per share.
- Record positive Free Cash Flow before interest and tax of €873.3m in FY 2022 (€680.6m in 2021). Lowest-ever full-year indebtedness ratio at 0.96x. Rating upgraded in 2022 by both S&P and Moody’s.