Rexel, a distributor of energy products and services, reported its second-quarter 2022 sales were €4.7 billion, up 12% on a same-day basis. North American sales were up 17.2% year-over-year at €1.98 billion.
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Net income in the first half-year was €459.8 million, up 69.9% compared to the prior-year period.
“I am very pleased that Rexel again posted record results in H1 2022, demonstrating the robustness of our business model in an environment still marked by solid demand, but also high product cost increases and continued supply-chain challenges. The electrification trends that we have highlighted during our Capital Market Day are clearly at play and benefiting us,” Rexel CEO Guillaume Texier said.
Rexel reported that results were driven by electrification trends, increased digital penetration, volume growth in North America and higher non-cable selling prices in all geographies.
Ian Heller is the Founder and Chief Strategist for Distribution Strategy Group. He has more than 30 years of experience executing marketing and e-business strategy in the wholesale distribution industry, starting as a truck unloader at a Grainger branch while in college. He’s since held executive roles at GE Capital, Corporate Express, Newark Electronics and HD Supply. Ian has written and spoken extensively on the impact of digital disruption on distributors, and would love to start that conversation with you, your team or group. Reach out today at iheller@distributionstrategy.com.