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MDM Interview: Services in Alternative Energy, Efficiency Drive Rexel

Recent controversy surrounding the funding of solar energy companies, led by the bankruptcy filing of Fremont, CA-based Solyndra, hasn’t swayed Rexel Holdings USA, the U.S. subsidiary of Paris, France-based Rexel Group and No. 3 on MDM’s top 25 electrical distributors list, away from the alternative energy market. Chris Hartmann, executive vice president and CEO of Rexel Holdings USA, recently spoke with Associate Editor Jenel Stelton-Holtmeier about how the company has shifted to meet changing market needs, the future of alternative energy and the challenges Rexel and the electrical distribution industry will face going forward.

MDM: How has business been for Rexel?

Chris Hartmann: Right now, things are going fairly well. Similar to all businesses in our industry we certainly faced some tough challenges over the past few years. But year-to-date in 2011 same store sales are up over 10 percent, which we’re very pleased with because a little bit more than ...

Rexel
Top Distributor Sectors
Rexel Sales Up 2.3% in Second Quarter
Electrical distributor Rexel reported sales decline of 3.6 percent in the U.S.
Top Distributor Sectors
Rexel Sales Down 17.9% in First Half
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 ...
Top Distributor Sectors
Rexel 1Q Sales Up 11.7%
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, ...
Top Distributor Sectors
Rexel Sales Down 0.8% in 2008
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 ...
Top Distributor Sectors
Rexel Organic Growth at 1.6% Year-to-Date
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 ...
Top Distributor Sectors
Rexel Organic Growth at 2.3% in 2Q
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% ...

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