Despite interest, many consumers in the U.S. have not taken steps to become energy-efficient.
Latest In Rexel
The global electrical distributor announced two acquisitions during the quarter.
Philips Lighting CEO Rudy Provoost will take the helm in 2012.
Organic sales increased 1.3 percent.
Electrical distributor Rexel acquires three companies and enters two markets.
Electrical distributor Rexel reported sales decline of 3.6 percent in the U.S.
CEO: Electrical supplies distributor starting to see 'encouraging signs in its business.'
HCL Asia was part of Rexel's electronics division.
Fourth quarter sales for the electrical supplies distributor fell 15.2%.
Growth in mature and emerging markets are in electrical distributor's 2010-2012 plans.
U.S. sales for Rexel dip 34.8% in the quarter and 31.7% in the first nine months.
Paris-based electrical distributor Rexel Inc. reported sales of €5.6 billion (US$7.9 billion) fell 17.9% on an organic same-day basis in the first half. Sales were down 6.4% on a reported basis.
At constant copper prices, sales would have decreased by 13.7%.
A 20.2% drop in organic sales in the second quarter followed a 15.4% drop in the first quarter. The distributor reported continued weakness in all of its end-markets. The company has also streamlined its branch network - closing 224 branches in the past 12 months.
The sales decline in the second quarter included 4 percentage points due to lower copper-based cables prices; at constant copper price, sales would have decreased 16.1% in the second quarter.
In North America, 31% of the company's sales, first-half sales ...
At constant copper prices, sales would have decreased by 13.7%.
A 20.2% drop in organic sales in the second quarter followed a 15.4% drop in the first quarter. The distributor reported continued weakness in all of its end-markets. The company has also streamlined its branch network - closing 224 branches in the past 12 months.
The sales decline in the second quarter included 4 percentage points due to lower copper-based cables prices; at constant copper price, sales would have decreased 16.1% in the second quarter.
In North America, 31% of the company's sales, first-half sales ...
Paris-based electrical distributor Rexel reported first quarter sales of €2.8 billion (US$3.8 billion), an increase of 11.7% over the prior year. The acquisition of Hagemeyer in 2008 accounts for most of the sales growth. On a constant and same-day basis, sales were down 15.4%.
Profit fell to €0.9 million, compared with €62.5 million in the first quarter of 2008. Costs associated with restructuring resulted in a charge of €30.4 million.
Rexel's underlying profitability remains sound although it was more severely impacted by the economic downturn in the quarter than at the end of 2008, CEO Jean-Charles Pauze said. "In the face of a deteriorating environment, Rexel is reinforcing its cost-adjustment program, ...
Profit fell to €0.9 million, compared with €62.5 million in the first quarter of 2008. Costs associated with restructuring resulted in a charge of €30.4 million.
Rexel's underlying profitability remains sound although it was more severely impacted by the economic downturn in the quarter than at the end of 2008, CEO Jean-Charles Pauze said. "In the face of a deteriorating environment, Rexel is reinforcing its cost-adjustment program, ...
Paris-based electrical distributor Rexel reported sales for 2008 were down 0.8% on a constant and same-day basis. Actual sales growth, including acquisitions, was up 20.2%. Including acquisitions, profits for the year was up 61%.
The distributor reported that sales in the fourth quarter fell 6.7%; the drop in copper-based cables prices accounted for about one-third of the decline.
In the fourth quarter, Rexel recorded a net loss.
In 2008, Rexel completed its acquisition of Hagemeyer's European business.
Outlook
Rexel said it expects a "marked drop" in 2009 sales, due to volume declines and the lower copper price.
The distributor says it has started a "cost-saving plan" of at least €110 ...
The distributor reported that sales in the fourth quarter fell 6.7%; the drop in copper-based cables prices accounted for about one-third of the decline.
In the fourth quarter, Rexel recorded a net loss.
In 2008, Rexel completed its acquisition of Hagemeyer's European business.
Outlook
Rexel said it expects a "marked drop" in 2009 sales, due to volume declines and the lower copper price.
The distributor says it has started a "cost-saving plan" of at least €110 ...
France-based electrical distributor Rexel reported organic sales growth of 0.4% in the third quarter 2008, with year-to-date organic growth of 1.6%. Profit year-to-date
Rexel recorded year-to-date sales of €9.43 billion (US$11.8 billion).
CEO Jean-Charles Pauze said: Rexel recorded a solid third quarter and year-to-date performance in a challenging environment. Our profitability and cash flow attest to the resilience of Rexel's business model.
"As we had expected for the second half of the year, our major markets are slowing down. We have continued to implement measures to attain our targeted EBITA margin of around 5.4% in 2008 even if our sales are slightly lower than anticipated due to the deterioration of the economic environment and the ...
Rexel recorded year-to-date sales of €9.43 billion (US$11.8 billion).
CEO Jean-Charles Pauze said: Rexel recorded a solid third quarter and year-to-date performance in a challenging environment. Our profitability and cash flow attest to the resilience of Rexel's business model.
"As we had expected for the second half of the year, our major markets are slowing down. We have continued to implement measures to attain our targeted EBITA margin of around 5.4% in 2008 even if our sales are slightly lower than anticipated due to the deterioration of the economic environment and the ...
Paris-based Rexel reported sales of €3.7 billion (US$5.7 billion at current exchange rate) for the second quarter 2008, an increase of 27.3% over the same period 2007. The company reported organic growth of 2.3%. Profit was €196.9 million (US$306.5 million), compared with a reported loss of €30.1 million (US$46.9 million) a year ago.
For the first six months ended June 30, 2008, sales were €6 billion (US$9.4 billion), an increase of 12.9% from the same period a year ago. Profit increased 72.1% to €259 million (US$403.9 million).
Rexel experienced organic growth in all three geographic zones for the first half of 2008. In Europe, sales increased 2.3%, led by strong performance in Scandinavia and Germany. North America posted a 0.5% ...
For the first six months ended June 30, 2008, sales were €6 billion (US$9.4 billion), an increase of 12.9% from the same period a year ago. Profit increased 72.1% to €259 million (US$403.9 million).
Rexel experienced organic growth in all three geographic zones for the first half of 2008. In Europe, sales increased 2.3%, led by strong performance in Scandinavia and Germany. North America posted a 0.5% ...
UK-based Wolseley plc, distributor of plumbing and heating products to professional contractors and supplier of building materials, reported overall revenues were up 1% while profits were down 28% for the first 11 months ended June 30, 2008. Wolseley is the parent company of Ferguson and Stock Building Supply in the U.S.
The deterioration in some of our key markets continues and it is likely that conditions will get tougher still,"CEO Chip Hornsby said. "In these unprecedented circumstances, driving cost reduction, enhancing cash flow and closely managing the balance sheet remain key priorities."
As a result of difficult market conditions, the distributor's board recommended no final dividend payment to stockholders for 2008, a move that will result in a cash ...
The deterioration in some of our key markets continues and it is likely that conditions will get tougher still,"CEO Chip Hornsby said. "In these unprecedented circumstances, driving cost reduction, enhancing cash flow and closely managing the balance sheet remain key priorities."
As a result of difficult market conditions, the distributor's board recommended no final dividend payment to stockholders for 2008, a move that will result in a cash ...
Paris-based electrical distributor Rexel completed the sale of parts of Hagemeyer to Sonepar ahead of schedule, completing the deal June 30. Rexel also sold its German business to Sonepar in exchange for all of Sonepar's activities in Sweden.
Rexel acquired Dutch distributor Hagemeyer NV in March in a $4.7 billion deal that included plans to sell Hagemeyer's North American, Asian-Pacific and selected European businesses to Sonepar within six months of the acquisition.
The completion of the deal allows the businesses to move forward with the creation of action plans to improve business performance and achieve desired synergies, Rexel CEO Jean-Charles Pauze said.
Sonepar told MDM earlier this year that it will likely keep Hagemeyer's North American ...
Rexel acquired Dutch distributor Hagemeyer NV in March in a $4.7 billion deal that included plans to sell Hagemeyer's North American, Asian-Pacific and selected European businesses to Sonepar within six months of the acquisition.
The completion of the deal allows the businesses to move forward with the creation of action plans to improve business performance and achieve desired synergies, Rexel CEO Jean-Charles Pauze said.
Sonepar told MDM earlier this year that it will likely keep Hagemeyer's North American ...
Rexel reported 3.1% organic growth (on a constant and same-day basis) for the first quarter 2008, with profit up 27.2% from the year-ago period.
Sales in the first quarter were €2.5 billion, compared with €2.4 billion a year ago.
Sales were up 3.7% in Europe, led by Northern Europe and the United Kingdom. North America had growth of 1.2%. In Asia-Pacific, growth was 8.2%.
In the quarter, Rexel completed its acquisition of Dutch distributor Hagemeyer ...
Sales in the first quarter were €2.5 billion, compared with €2.4 billion a year ago.
Sales were up 3.7% in Europe, led by Northern Europe and the United Kingdom. North America had growth of 1.2%. In Asia-Pacific, growth was 8.2%.
In the quarter, Rexel completed its acquisition of Dutch distributor Hagemeyer ...
Now that Rexel has completed its purchase of Dutch electrical distributor Hagemeyer NV, the next step in the deal -to sell Hagemeyer's North American, Asian-Pacific and some European assets to competitor Sonepar -will take place in the next six months, Rexel CEO Jean-Charles Pauze said.
Pauze was commenting in an online video interview, posted by the company through the EuroBusiness Media site. (Interview, Transcript)
Pauze said the combination of Rexel and Hagemeyer is "historic." "Not only are we reinforcing our position worldwide, but we are becoming a very strong No. 2 in ...
Pauze was commenting in an online video interview, posted by the company through the EuroBusiness Media site. (Interview, Transcript)
Pauze said the combination of Rexel and Hagemeyer is "historic." "Not only are we reinforcing our position worldwide, but we are becoming a very strong No. 2 in ...
