Rexel consolidated sales for the second quarter of 2006 were 2.105 billion euros, or $2.669 billion, up 13.6%, taking into account acquisitions, divestitures and the favorable impact of exchange rate fluctuations. On a comparable structure, exchange rate and trading day basis, sales were up 13.9% from the same period last year.
For the six months of 2006, sales were 4.072 billion euros, or $5.163 billion, up 15.2% compared to the same period last year. On a comparable structure, exchange rate and trading day basis, sales were up 11.7%.
Sales in North America were up 19% for the quarter and 16.9% for the first half of the year. European sales were up 11% for the quarter and 8.6% for the half. Asia-Pacific sales were up 8.8% for the quarter and 7.5% for the half.
"Our commercial dynamism and favorable markets led us to post a high growth also enhanced by inflation on raw materials. External growth strategy was effective and allowed us to integrate ElettroBergamo and CLS, two mid-size companies, complementary and accretive on earnings," said Jean-Charles Pauze, Rexel Chairman and CEO.
Sales in Europe were supported by developments in cables. In France and the UK, strong sales were driven by the small electrical contractors segment.
North America sales growth was high, notably in the U.S., where sales were strong in the Rocky Mountain and Gulf of Mexico divisions. In Canada, Western regions and Quebec are driving sales increases. The slowdown of the residential market was offset by improvements in commercial and industrial end markets.
In the Asia-Pacific, activity in commercial and industrial projects balanced residential market weakness in Australia. Project sales increased in New Zealand.