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Rexel Q3 Sales Rise, Confirms FY19 Outlook - Quick Facts

Rexel SA (RXLSF.PK), a French distributor of electrical supplies, reported Thursday that its third-quarter sales were 3.42 billion euros, up 3.3 percent from last year on a reported basis. On a constant and same-day basis, sales were up 0.9 percent.

The results reflected solid sales momentum in Canada, key European countries and China.

In the quarter, sales in Europe increased 0.8 percent on a reported basis, while sales on a constant and same-day basis were down 0.7 percent.

Sales in France were up 3.3 percent, with continuing good momentum in commercial and residential markets, while industrial is growing at a slower pace.

Sales in North America grew 7.7 percent on a reported basis and went up 2.8 percent on a constant and same-day basis, mainly driven by Canada.

In the third quarter, sales in Asia-Pacific were down 0.1 percent on a reported basis.

Looking ahead for fiscal 2019, the company continues to expect a 2 percent to 4 percent same-day sales growth, excluding an estimated unfavorable impact of 1 percent from branch closures in Germany and Spain, and a 5 percent to 7 percent increase in adjusted EBITA.

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