Infected by the COVID-19 pandemic, in Q2 FY20, Rexel reported a 17.7% yoy decline in same-store sales (though with a gradual recovery) – which led the group’s adjusted EBITA margin to slip c.136bp during H1 FY20, despite numerous cost-cutting actions. As the uncertainty prevails amidst a probable second wave of the virus pandemic, management has refrained from providing the full-year guidance, but it expects to continue prioritising profitability and free cash flow.
29 Jul 2020
Despite active cost management, H1 FY20 profitability tanks materially
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Despite active cost management, H1 FY20 profitability tanks materially
Rexel SA (RXL:PAR) | 0 0 (-0.6%) | Mkt Cap: 4,449m
- Published:
29 Jul 2020 -
Author:
Mohit Rathi -
Pages:
3
Infected by the COVID-19 pandemic, in Q2 FY20, Rexel reported a 17.7% yoy decline in same-store sales (though with a gradual recovery) – which led the group’s adjusted EBITA margin to slip c.136bp during H1 FY20, despite numerous cost-cutting actions. As the uncertainty prevails amidst a probable second wave of the virus pandemic, management has refrained from providing the full-year guidance, but it expects to continue prioritising profitability and free cash flow.