Paris-based electrical distributor Rexel had sales of €13 billion (US$17.8 billion) in fiscal 2013, down 3.3 percent on a reported basis and down 2.7 percent on a same-day basis.
Profit for the year was down 33.8 percent to €211 million (US$288 million).
Excluding the 0.8 percent negative impact due to the change in copper-based cable prices, sales were down 1.9 percent on a constant and same-day basis.
In the fourth quarter, Rexel’s sales were €3.3 billion (US$4.5 billion), down 4.4 percent year-over-year on a reported basis and down 0.9 percent year-over-year on a constant and same-day basis.
Excluding the 0.8 percent negative impact due to the change in copper-based cable prices, sales were nearly stable, Rexel reported, on a constant and same-day basis.
In the fourth quarter, sales in Europe were down 3.6 percent on a reported basis and by 1.4 percent on a constant and same-day basis.
Sales in North America in the fourth quarter were down 3.7 percent on a reported basis and broadly stable on a constant and same-day basis. Both the U.S. and Canada were affected in the quarter by severe weather conditions that continued in January.
In the U.S., sales grew by 0.4 percent in the quarter, confirming the recovery in residential end-markets, according to Rexel, and improved trends in the industry. The U.S. saw its fourth consecutive quarter of growth, resulting in 2.1 percent growth for the full year.
In Canada, sales were down 2.3 percent in the quarter. In the full year, despite the significant impact of lower sales to the mining industry in the first three quarters of the year, sales saw a 3.4 percent drop on a constant and same-day basis, which Rexel noted was “resilient.”
In the fourth quarter, sales in Asia-Pacific were down 10.7 percent on a reported basis. On a constant and same-day basis, sales were down 1.5 percent.
Sales were down 9.1 percent on a reported basis in Latin America, and up by 3.5 percent on a constant and same-day basis.
“With respect to 2014, the evolution of our sales and margin will be closely tied to the speed and magnitude of the recovery in Europe and the U.S. nonresidential end-market,” said Rudy Provoost, chairman of the management board and CEO.
