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Rexel Q4 Adj. EBITA Up 8.7%; Sales Rise 5.4% On Constant, Same-day Basis

Rexel (RXLSF.PK) reported fourth-quarter EBITA of 162.4 million euros, an increase of 5.5% over prior year. The company reported a net loss of 58.6 million euros, for the quarter. Adjusted EBITA rose 8.7% year-over-year to 159.3 million euros. Recurring net income increased 32.2% to 83.0 million euros.

In the fourth quarter, Rexel posted sales of 3.40 billion euros, down 1.5% on a reported basis. On a constant and same-day basis, sales were up 5.4%, including a 1.6% positive effect due to the change in copper-based cable prices.

Rexel will propose to shareholders a dividend of 0.42 euros per share, 2 cents higher compared to last year. The dividend, payable in cash early in July 2018, will be subject to approval at the Annual Shareholders' Meeting to be held in Paris on May 24, 2018.

In 2018, consistent with the medium-term ambition, the company targets at comparable scope of consolidation and exchange rates: sales up in the low single digits (on a same-day basis); a mid- to high-single-digit increase in adjusted EBITA; and a further improvement of the indebtedness ratio.

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