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Rexel SA reported solid Q4 2024 results, with a +3.6% increase to approximately $5126.7 million for the quarter. Rexel said in the press release that the acquisitions of Talley, a telecom & VDV supplier based in Los Angeles, CA, and Electrical Supplies Inc. Miami, FL, completed respectively in June and July 2024 as well as Itesa in France, completed in Oct. 2024, had a “positive net scope effect” of +2.1% on sales and that the improvement compared to Q3 2024 is “mainly driven by United States and Canada, offsetting the still muted situation in Europe notably in electrification.”
The company's full-year global 2024 sales of approximately $20,205.9 million were up +0.7% on a reported basis. Total North American sales were up +0.5% to approximately $8,865.81 million, approximately $7,308 million in the United States and approximately $1,557.8 million in Canada.
Its four electrification product categories (solar, electric vehicle charging infrastructure, HVAC and industrial automation), which representa combined 21% of total sales, decreased -8.2%. The company also reported further growth in digitalization, with digital now representing 32% of total global sales in Q4 2024. Its North American digital sales increased slightly to 22%.
“In softer 2024 conditions than anticipated, especially in Europe, the Rexel teams seized the opportunity to demonstrate how the transformation of the last few years could positively impact the business by deploying advanced services, digital penetration and value solutions to customers, resulting in market share gains in several countries, said Guillaume Texier, CEO, in the press release.
“We leveraged our increased presence in North America, a region with solid prospects in which we have expanded through organic growth and active M&A with nine acquisitions completed since 2021. We are entering 2025 with good momentum on three aspects: market share gains, strong exposure to the positive North American market and optimization projects. This acceleration of our transformation allows us to be confident that we are on track to reach our medium-term ambitions.”