BN 07/30 06:51 *REXEL CEO SEES 2H RESTRUCTURING COSTS RISING TO EU37 MILLION
BN 07/30 06:49 *REXEL CEO SAYS COMPANY WILL CONDUCT PORTFOLIO REVIEW IN 2H
BN 07/30 06:49 *REXEL CEO SAYS COMPANY WILL CONDUCT PORTFOLIO REVIEW IN 2H
Rexel CEO Says Company Will Conduct Portfolio Review in 2H
2014-07-30 07:23:48.947 GMT
By Francois de Beaupuy
July 30 (Bloomberg) -- Rexel CEO Rudy Provoost says review
will look at all options to deal with persistently-low
profitability of some geographies or business units. CEO also
says on call to journalists:
* review is part of initiatives discussed with co.’s new board
* Rexel will invest more aggressively in 2H to accelerate
expansion in specific high-growth areas, digital multi-
channel platform, logistics
* 2H restructuring expenses will rise to EU37m vs EU23m in 1H
* Europe will remain “a very challenging place” in 2H with
difficult conditions in France in particular, and limited
tailwinds in other countries.
* sees further increase in sequential growth in North America
in 2H, Brazil and Australia to remain uncertain
NOTE: Rexel Cuts 2014 Sales, Adj. Ebita Margin Targets on
Uncertainty {NSN N9IFKO6JTSE8 <go>}
Link to Statement: {NSN N9IFBP3V2801 <go>}
Link to Company News:{RXL FP <Equity> CN <GO>}
For Related News and Information:
First Word scrolling panel: {FIRST<GO>}
First Word newswire: {NH BFW<GO>}
To contact the editor responsible for this story:
Francois de Beaupuy at +33-1-5365-5051 or
fdebeaupuy@bloomberg.net
2014-07-30 07:23:48.947 GMT
By Francois de Beaupuy
July 30 (Bloomberg) -- Rexel CEO Rudy Provoost says review
will look at all options to deal with persistently-low
profitability of some geographies or business units. CEO also
says on call to journalists:
* review is part of initiatives discussed with co.’s new board
* Rexel will invest more aggressively in 2H to accelerate
expansion in specific high-growth areas, digital multi-
channel platform, logistics
* 2H restructuring expenses will rise to EU37m vs EU23m in 1H
* Europe will remain “a very challenging place” in 2H with
difficult conditions in France in particular, and limited
tailwinds in other countries.
* sees further increase in sequential growth in North America
in 2H, Brazil and Australia to remain uncertain
NOTE: Rexel Cuts 2014 Sales, Adj. Ebita Margin Targets on
Uncertainty {NSN N9IFKO6JTSE8 <go>}
Link to Statement: {NSN N9IFBP3V2801 <go>}
Link to Company News:{RXL FP <Equity> CN <GO>}
For Related News and Information:
First Word scrolling panel: {FIRST<GO>}
First Word newswire: {NH BFW<GO>}
To contact the editor responsible for this story:
Francois de Beaupuy at +33-1-5365-5051 or
fdebeaupuy@bloomberg.net