Rexel S.A.

Rexel distributes low and ultra-low voltage electrical products to contractors, industrial and commercial customers (industrial and commercial companies, municipalities, public entities, parts manufacturers and panel builders). Its products are used for new installations, or maintenance & repair of existing installations. Its products covers Electrical Installation Equipment, Conduits and Cables, Lighting, Security & Communication, Climate Control, Tools, White & Brown Products. Co. also offers services to its customers, such as logistics & distribution, technical assistance & training. Co. operates mainly in four geographical areas: Europe, North America, Asia-Pacific and Latin America.
  • TickerRXL
  • ISINFR0010451203
  • ExchangeEuronext Paris
  • SectorElectronic & Electrical Equipment
  • CountryFrance

Analysts

1 director bought

A director at Rexel SA bought 51,910 shares at 11.194EUR and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board me...

Rexel - Assemblée générale des actionnaires du 23 mai 2019

Proxinvest publiera une étude analysant les résolutions proposées lors de la tenue de l’assemblée générale des actionnaires. Vous pouvez l'acquérir dès à présent et elle vous sera adressée par ResearchPool une fois publiée.

Rexel – Proxinvest Corporate Governance Rating ® : B

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Alain William ...
  • Alfred Glaser
  • Anis Zgaya
  • Charles Lepetitpas
  • Christophe Chaput
  • Delphine Brault
  • Geoffroy Michalet
  • Jean-François Granjon
  • Khaled Ben Amor
  • Louis Boujard
  • Nicolas David
  • Olfa Taamallah
  • Philippe Ourpatian
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 02/21/2019

...

Remi Ramadou

REXEL- 2Q18 Comments

Rexel, the French distributor of electrical products, held a conference call today to comment on what proved to be satisfactory 2Q18 results. After a mixed first quarter marked by a deterioration of profitability, good sales volume across most regions and productivity measures in the US enabled the group to improve its adjusted-reported EBITA margin by 20bps to a decent 4.8% in Q2.

Remi Ramadou

REXEL- Rating Report

Headquartered in Paris and listed on NYSE Euronext (market cap. of €3.8bn), Rexel S.A. is a global distributor of low and ultra-low voltage electrical products. The group supplies various customers (top 10 customers accounted for less than 4% of 2017 sales) - from local electricians to medium and large contractors in construction and public work - which install electrical products in 3 end-markets: industrial (33% of sales), commercial building (45%) and residential building (22%).

Remi Ramadou

Rexel 1Q18 - Miss on EBITA margin, but full-year guidance still achievable

Rexel, the French distributor of electrical products, released mixed 1Q18 results. While sales growth (at comparable scope, exchange rates and same-day basis) was 3.9%, in line with market expectations, reported EBITA was down 4.8% to €127m, representing a 30bps decline in margin to 4.0% which was below consensus (by 30bps).

Rexel SA - December 2017 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Rexel SA - September 2017 (LTM): Peer Snapshot

Peer Snapshot:  Rexel SA - September 2017 (LTM) 15 November 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Sep-17 FYE Dec-15 FYE Dec-16 LTM Jun-17 FYE Jan-16 FYE Dec-16 LTM Sep-17

Alfred Glaser ...
  • Delphine Brault

Rexel : Positive road show with management and adjustment of our forecasts

>Road show with the CEO and CFO: a wide variety of topics - In particular, we have identified digitisation, the US project, the recovery of several other countries, the economic environment and cycle, the role of Amazon, the trend in debt and the management of cost inflation and productivity. Digitisation is a key theme and one that features in most of the investments undertaken (>60% of capex): Rexel currently generates 16% (€ 2.1bn) of sales via digital channels, an...

Alfred Glaser ...
  • Delphine Brault

Rexel : Roadshow positif avec le management et ajustement de nos prévisions

>Roadshow avec le CEO et le CFO : des sujets multiformes - Nous avons notamment répertorié la digitalisation, le chantier US, le redressement de plusieurs autres pays, la conjoncture et le cycle, le rôle d’Amazon, l’évolution de l’endettement et la gestion de l’inflation des coûts et la productivité. La digitalisation est un sujet majeur et se retrouve dans la plupart des investissements engagés (>60% des Capex) : Rexel vend 16% (2.1 Md€) par voies digitales actuellem...

Alfred Glaser ...
  • Delphine Brault

Rexel : The recovery continues but a lot of work remains

>Q4: good and not-so good - Sales and organic growth exceeded our expectations, while the adjusted EBITA margin was in line (€ 3,497m reported, +1.9% organic growth, 5.0% margin; Oddo Securities estimate: € 3,441m, +0.3% and 5.0% respectively). The net loss was worse than expected (-€ 26m vs Oddo Securities estimate: +€ 55m) due to heavy restructuring charges and asset write-downs. FCF was weak in Q4 (€ 245m vs Oddo Securities estimate: € 368m and € 329m in Q4 2017) ...

Alfred Glaser ...
  • Delphine Brault

Rexel : Le redressement se poursuit, mais les chantiers sont nombreux

>Le T4 a apporté du bon et du moins bon - Le CA et la croissance organique ont dépassé nos attentes, la marge d'EBITA ajustée a été en ligne (publication de 3 497 M€, +1.9% de croissance organique, marge de 5.0% ; nous attendions 3 441 M€, +0.3% et 5.0% resp.). Le résultat net a été pire que prévu (-26 M€ contre +55 M€ attendus par nous) à cause de fortes charges de restructuration et de dépréciation d’actifs. Le FCF a été un point faible du T4 (245 M€ vs 368 M€ atte...

Alfred Glaser ...
  • Delphine Brault

Rexel : Q4 sales a bit better, operating profit in line, FCF a bit weak. 2019 guidance corresponds to consensus expectations

>Better sales in Q4, in line at operating level - Revenues and organic growth (same day basis) came in a shade above our and the consensus estimates (€ 3,497m of sales reported, +1.9% org growth vs our € 3,441m and +0.3% estimate). The adjusted EBITA came in in line at €173m or 5.0% margin, up 27bp on a comparable basis. We expected € 172m, a 5.0% margin (consensus: 4.9%). EBITDA totalled € 198m vs our estimate of € 203m and the consensus forecast of € 196m. Growth wa...

1 director bought

A director at Rexel SA bought 51,910 shares at 11.194EUR and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board me...

Alain William ...
  • Alfred Glaser
  • Anis Zgaya
  • Charles Lepetitpas
  • Christophe Chaput
  • Delphine Brault
  • Geoffroy Michalet
  • Jean-François Granjon
  • Khaled Ben Amor
  • Louis Boujard
  • Nicolas David
  • Olfa Taamallah
  • Philippe Ourpatian
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 02/21/2019

...

Alain William ...
  • Alfred Glaser
  • Anis Zgaya
  • Charles Lepetitpas
  • Christophe Chaput
  • Delphine Brault
  • Geoffroy Michalet
  • Jean-François Granjon
  • Khaled Ben Amor
  • Louis Boujard
  • Nicolas David
  • Olfa Taamallah
  • Philippe Ourpatian
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 21/02/2019

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Aurelien Sivignon
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean-François Granjon
  • Martial Descoutures
  • Pierre Corby
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF Small & MIDCAP MORNING NEWS - 02/14/2019

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Aurelien Sivignon
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean-François Granjon
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Pierre Corby
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF Small & MIDCAP MORNING NEWS - 14/02/2019

...

Alexandre Iatrides ...
  • Alfred Glaser
  • Aurelien Sivignon
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Jean Sassus
  • Jean-Baptiste Rouphael
  • Jeremy Garnier
  • Nicolas Thorez
  • Oussema Denguir
  • Pierre Corby
  • Steven Gould
  • Valentin Pernet

ODDO BHF Small & MIDCAP MORNING NEWS - 02/13/2019

...

REXEL sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of REXEL (FR), a company active in the Electrical Components & Equipment industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date January 25, 2019, the closing price was EUR 10.20 and its potential was estimated at EUR 11.20.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Rexel - Assemblée générale des actionnaires du 23 mai 2019

Proxinvest publiera une étude analysant les résolutions proposées lors de la tenue de l’assemblée générale des actionnaires. Vous pouvez l'acquérir dès à présent et elle vous sera adressée par ResearchPool une fois publiée.

Rexel – Proxinvest Corporate Governance Rating ® : B

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Jehanne Leroy

Proxy Report - 24/05/2018

ITEM 9: The Board of Directors meeting of February 20, 2017 decided to terminate the duties of Catherine Guillouard as Deputy CEO due to a divergence of views regarding the strategy. Therefore, under item 9, it is proposed to approve her severance payment of €1,627,076, i.e. 24 months of annual remuneration, which exceeds our 12-month ceiling. Moreover, performance conditions of this severance were not sufficiently challenging as they allowed a 100%-vesting with a 60% achievement of the target. ITEM 8: Although the company’s disclosure on its 2017 annual bonus is one of the best of the French...

Jehanne Leroy

Proxy Report - 02/05/2018

Le Conseil d’administration de Rexel, lors de sa séance du 20 février 2017, a décidé de mettre fin aux fonctions du Directeur Général Délégué, Catherine Guillouard, en raison de divergences de vue sur la stratégie. Ainsi, en résolution 9, il est proposé d'approuver ses rémunérations 2017, ainsi que son indemnité de départ de 1 627 076 €, représentant 24 mois de rémunération annuelle, ce qui excède notre limite de 12 mois. De plus, les conditions de performance permettant l'octroi de cette indemnité n'étaient pas exigeantes (en cas d'atteinte moyen de 60% des objectifs, 100% de l'indemnité étai...

Valérie GASTALDY

Short term view - REXEL : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €10.800. The background trend would be questioned should prices rise above €11.990.

Valérie GASTALDY

Analyse court terme - REXEL : Les prix baissent.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 10,800 €. La tendance de fond serait remise en cause en cas de franchissement de 11,990 €.

Valérie GASTALDY

Analyse court terme - REXEL : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 10,800 €. La tendance de fond serait remise en cause en cas de franchissement de 11,990 €.

Valérie GASTALDY

Short term view - REXEL : The background trend is clearly bearish.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €10.800. The background trend would be questioned should prices rise above €11.990.

Jérôme VINERIER

Analyse moyen terme - REXEL : Le mouvement se poursuit.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 8,500 €, puis 7,500 €. Le franchissement de 13,706 € remettrait en cause la suite de la baisse.

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