REXEL :REXEL DIVESTS ITS OPERATIONS IN LATIN AMERICA
(Thomson Reuters ONE) -
REXEL DIVESTS ITS OPERATIONS IN LATIN AMERICA
Rexel announces today the sale of its operations in Latin America to Sonepar for
an enterprise value of 51 million USD (c. 47 million euros at the latest
exchange rate).
This divestment is part of Rexel's previously-announced disposal plan in order
to reallocate its resources to its most profitable activities. The main terms
and financial impacts of the disposal plan were announced at the presentation of
the 2014 full-year results on February 12, 2015.
Rexel currently operates in 3 countries in Latin America: Brazil, Chile and
Peru.
Combined, these three countries' contribution to Rexel's 2014 consolidated sales
amounted to 256.8 million euros (down 3.8% year-on-year on a constant and
actual-day basis), representing about 2% of consolidated Group sales. Their
contribution to Rexel's 2014 adjusted consolidated EBITA was a loss of 3.3
million euros (vs. a profit of 0.8 million euros in 2013).
With regards to Brazil, which represents almost 60% of Rexel's operations in
Latin America on the basis of its 2014 consolidated sales, Rexel estimates that
its value-creation prospects are no longer in line with its initial investment
criteria and growth expectations, and do not justify maintaining its presence in
the country.
Chile and Peru, which form the rest of Rexel's business in Latin America and
whose combined sales amount to around 100 million euros, are markets whose size
remains relatively small and limited in scope. Therefore, Rexel decided to sell
its operations in Chile and Peru, simultaneously with the Brazil divestment, and
discontinue its operations across Latin America.
The divestment of all of its operations in Latin America will allow Rexel to
refocus its managerial efforts on its three main geographies (Europe, North
America and Asia-Pacific) and continue its targeted acquisition policy in these
regions.
As a reminder, based on full-year 2014 consolidated accounts, the disposal plan
announced on February 12, 2015, once fully completed, should have the following
financial impacts:
* A reduction of around 5% in the Group's consolidated sales,
* A positive contribution of c. 20bps to the Group's adjusted EBITA margin,
* A moderate increase in the Group's free cash flow before interest and tax.
Based on full-year 2014 consolidated accounts, the divestment of Latin America
would have the following financial impacts:
* A reduction of 2% in the Group's consolidated sales,
* A positive contribution of 8bps to the Group's adjusted EBITA margin,
* A slight increase in the Group's free cash flow before interest and tax.
The divestment of Latin America thus represents about 40% of the whole disposal
plan, which should be completed by the end of 2016.
This transaction should result in an estimated loss of about 70 million euros,
before tax.
The transaction remains subject to approval by the relevant anti-trust
authorities.
ABOUT REXEL GROUP
Rexel, a global leader in the professional distribution of products and services
for the energy world, addresses three main markets - industrial, commercial and
residential. The Group supports customers around the globe, wherever they are,
to create value and run their businesses better. With a network of some 2,200
branches in 38 countries, and c. 30,000 employees, Rexel's sales were ?13.1
billion in 2014.
Rexel is listed on the Eurolist market of Euronext Paris (compartment A, ticker
RXL, ISIN code FR0010451203). It is included in the following indices: SBF 120,
CAC Mid 100, CAC AllTrade, CAC AllShares, FTSE EuroMid, STOXX600. Rexel is also
part of the following SRI indices: DJSI Europe, FTSE4Good Europe & Global, EURO
STOXX Sustainability, Euronext Vigeo Europe 120 and ESI Excellence Europe.
Finally, Rexel is included on the Ethibel EXCELLENCE Investment Registers in
recognition of its performance in corporate social responsibility (CSR). For
more information, visit Rexel's web site at www.rexel.com
CONTACTS
FINANCIAL ANALYSTS / INVESTORS
Marc MAILLET +33 1 42 85 76 12 marc.maillet(at)rexel.com
Florence MEILHAC +33 1 42 85 57 61 florence.meilhac(at)rexel.com
PRESS
Pénélope LINAGE +33 1 42 85 76 28 penelope.linage(at)rexel.com
Brunswick: Thomas KAMM +33 1 53 96 83 92 tkamm(at)brunswickgroup.com
Rexel divests its operations in Latin America:
http://hugin.info/143564/R/1917193/685805.pdf
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: REXEL via GlobeNewswire
[HUG#1917193]
Unternehmensinformation / Kurzprofil:
Datum: 30.04.2015 - 07:34 Uhr
Sprache: Deutsch
News-ID 389681
Anzahl Zeichen: 5852
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Kategorie:
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