Electrical distributor Rexel reported 2023 sales of €19.2 billion, up 2.4%. Sales were down 1.6% in the fourth quarter 2023.
Profit in 2023 was €774.7 million.
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In the fourth quarter, the four product categories related to electrification (solar, electric vehicle charging infrastructure, HVAC and industrial automation), represented 23% of sales and decreased by 2% as a result of a challenging comparable base. Other factors included a negative price effect in solar panels and lower demand, especially on solar activity in Europe, where low electricity prices have temporarily reduced the immediate payback from installing photovoltaic solutions.
Electrification trends in North America remain positive, with an increasing contribution of reshoring trends in several industrial sectors.
In the fourth quarter, digital sales represented 30% of sales.
Sales in North America, which make up 42% of revenues, were up 0.4% in the fourth quarter. Europe sales were down 2.8%. Asia-Pacific sales were down 1.4%.
