Rexel : Presentation – First-Quarter 2024 Sales

First-quarter 2024 sales

April 30, 2024

Key highlights

Q1 2024 highlights

• Q1 24 sales down (4.6)% on a same-day basis at €4,707.4m, in line with expectations
• • Resilience of our non-residential markets and industrial automation activity, especially in North America
  • High base effect on electrification in Europe, notably solar
• Non-cableselling prices, excluding electrification, up +0.7%
• Further market share gains in our key countries (notably France, Germany and Switzerland) demonstrating the solidity of our model
• Further growth in digital sales, now representing 31% of sales in Q1 24, up +273bps

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Core ED business: Resilience with positive pricing

	% Mix	SD sales	ow Price	ow Volume
	2024	growth
Core ED	63%	-0.8%	+0.7%	-1.5%
Electrification	22%	-11.7%	-1.9%	-9.8%
Cable	15%	-8.2%	-9.4%	+1.2%
Total	100%	-4.6%	-1.5%	-3.1%

• Resilient core ED business, down a limited 0.8%
• • Positive pricing contribution
  • Positive volume in non-residential and industrial automation in North America
• Electrification, representing 22% of sales, down 11.7% in the quarter. Price deflation limited to temporary situation in China and solar panels
• Positive volumes on cable

4

Electrification: Continued medium-term momentum but short-term slowdown; quarter impacted by strong base effect

• Electrification affected by
• • High comparable base effect: Peak of demand in electrification in H2 2022 & Q1 2023, up circa +30% and contributing for almost 50% of Group sales growth
  • Lack of visibility on pricing, energy prices and government regulations in some countries: temporary "wait and see" effect
  • Short term impact in industrial automation in China (oversupply situation)
• Easier electrification base effect in H2
• Longer term growth drivers remain intact, driven by net zero agendas and government policies: double-digitgrowth over two years

Same-day sales growth in electrification

+31%	-12%
				+16%
					+5%
						-2%
Q1 23	Q1 24	Q2 23	Q3 23	Q4 23
	Q1	Q2	Q3	Q4

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Further leveraging our transformation

• Continued focus on margin resilience, leveraging the key initiatives of the Power Up 2025 plan
• • Focus on customer targeting and value-addedthrough services, driving market share and volume gains
  • Excellent ability to pass through price increases
  • Increased digital penetration driving improved internal efficiency
  • Very disciplined cost management, with focus on temp employees and staff adaptation, strict cost control
• 2024 outlook confirmed

6

Active capital allocation deployment

• Executing our capital allocation strategy
• • In line with our objectives to acquire up to €2bn of sales, Rexel completed end-April the signing of the acquisition of Itesa, reinforcing its position in the attractive security & communication business in France
  • • €78m of sales 2023 through a network of 15 branches
    • Specialized in Video & Alarm activities
    • EPS-accretivein year 1 & value creation in year 2
  • €23m shares repurchased in Q1 24

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Q1 2024 sales review

Q1 sales supported by significant M&A contribution

		+3.0%	€5,010m
€4,928m
		-0.8%
	-0.5%				€4,707m
			-4.6%
			-1.5%
			Actual-day evolution
				-6.0%

Q1 2023	Forex	Acquisitions Disposals	Q1 2023	Organic	Calendar	Q1 2024
			comparable	same-day

Q1 24 reported sales down 4.5%:

• Negative forex and same-day sales growth
• Positive contribution from Wasco acquisition

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Stable non-cable selling prices;

volume resilience in North America in the quarter

Group

-4.6%

5,010	4,707
Q1 23	Q1 24

Selling price evolution

Non-cable:	Cable:
0.0%	-1.5%

Non-cable price up +0.7% ex. electrification (mostly PV panels & Ind Automation in China)

North America

(42% Group sales)

-1.1%
2,049	1,996
Q1 23	Q1 24

Europe

(52% Group sales)

-6.9%
2,648
	2,426
Q1 23	Q1 24

Asia Pacific

(6% Group sales)

-7.7%

313	286
Q1 23	Q1 24

NB: Sales in €m are presented on a comparable basis

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