Rexel announced FY15 results in line with our expectations and the guidance provided in October last year. Annual revenue was down 2.1% at CER, pulled down by lower copper prices ($5,800 per tonne in Q1 vs c.$4,700 in Q4 15), weaker industrial activity in North America (28% drop in the O&G segment), challenging construction activity in France and weaker macro-economic conditions in China. Both the biggest markets, North America (-5.2%) and France (-2.3%), registered a decline. However, th
25 Feb 2016
A challenging year ahead
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A challenging year ahead
Rexel SA (RXL:PAR) | 0 0 (-0.6%) | Mkt Cap: 4,449m
- Published:
25 Feb 2016 -
Author:
Nishant Choudhary -
Pages:
3
Rexel announced FY15 results in line with our expectations and the guidance provided in October last year. Annual revenue was down 2.1% at CER, pulled down by lower copper prices ($5,800 per tonne in Q1 vs c.$4,700 in Q4 15), weaker industrial activity in North America (28% drop in the O&G segment), challenging construction activity in France and weaker macro-economic conditions in China. Both the biggest markets, North America (-5.2%) and France (-2.3%), registered a decline. However, th