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MESSAGE FROM IAN MEAKINS Chairman of the Board of Directors

In 2017, Rexel posted results in line with its financial targets. We are satisfied with the Group s performance, which reflects the relevance of the objectives presented at Capital Market Day in February 2017: accelerate organic growth, increase selectivity in capital allocation and strengthen financial structure, and finally, improve operational and financial performance.

These results, particularly 13.3 billion euros in sales, up 3.5% on a constant and same-day basis, demonstrate the accuracy of Rexel s strategic choices and its ability to adapt to an economic environment that remains uncertain, even if the underlying trend appears to be generally favorable. The Group remains well-positioned in its sector s high-growth markets: smart home, sustainable mobility, energy management, and large international infrastructure projects.

Furthermore, Rexel is continuing its digital transformation, allocating it 56% of the Group s total investments in 2017. Currently, 14% of sales are generated online (e-commerce and EDI), i.e. 1.9 billion euros, up 13% vs 2016.

With recurring net income up 16.4% to 291.2 million euros, Rexel is proposing a 5% increase in dividends up 0.42 euros this year, representing 44% of its recurring net income, consistent with its payout policy.

On behalf of the Board of Directors, I would like to reaffirm my confidence in the executive team: by capitalizing on its strong position in its markets, its close relationships with its customers and suppliers, its multi-sector expertise, and the skills and expertise of its teams, Rexel is on track to successfully transform its model and continue to accelerate its growth.