Rexel's Net Income Up 61 Percent in 2008

Rexel, one of Hagemeyer's two European parent companies, today reported 2008 financial results that include a 61 percent gain in net income before other income and expenses. Rexel is a major worldwide distributor of electrical supplies that is based in Paris; it bought Hagemeyer in March 2008 and divested the U.S. operations of Hagemeyer to Sonepar. What Rexel kept were Hagemeyer's Professional Products & Services operations (including PPE distribution) in Belgium, the Czech Republic, Estonia, Finland, most of Germany, Latvia, Lithuania, the Netherlands, Norway, Poland, Russia, Spain, and the United Kingdom.

The company did well in 2008: 12.862 billion euros in sales, down 0.2 percent from 2007. Fourth quarter sales were 3.424 billion euros, down 5.9 percent from 2007. Net income was up 61 percent from 2007 to 2008, with 230.2 million euros the total for 2008's net income before other income and expenses. {Non-recurring charges of 125 million euros produced a 2008 net loss of 63 million euros.)

The Rexel CEO, Jean-Charles Pauze, said the company outperformed the market in key regions and "succeeded in improving its gross margin, maintaining its underlying profitability, and generating strong cash flow." He also said Rexel will implement a plan this year to reduce costs by at least 110 million euros and focus its efforts on maximizing cash. Rexel will hold its annual shareholders meeting on May 20.

Product Showcase

  • Magid® D-ROC® GPD412 21G Ultra-Thin Polyurethane Palm Coated Work Gloves

    Magid’s 21G line is more than just a 21-gauge glove, it’s a revolutionary knitting technology paired with an advanced selection of innovative fibers to create the ultimate in lightweight cut protection. The latest offering in our 21G line provides ANSI A4 cut resistance with unparalleled dexterity and extreme comfort that no other 21-gauge glove on the market can offer! Read More

  • Safety Knives

    The Safety Knife Company has developed a quality range of safety knives for all industries. Designed so that fingers cannot get to the blades, these knives will safely cut through cardboard, tape, strapping, shrink or plastic wrap or a variety of other packing materials. Because these knives have no exposed blades and only cut cardboard deep, they will not only protect employees against lacerations but they will also save product. The Metal Detectable versions have revolutionary metal detectable polypropylene knife bodies specifically for the food and pharmaceutical industries. This material can be detected and rejected by typical detection machines and is X-ray visible. Read More

  • HAZ LO HEADLAMPS

    With alkaline or rechargeable options, these safety rated, Class 1, Div. 1 Headlamps provide long runtime with both spot and flood options in the same light. Work safely and avoid trip hazards with flexible hands-free lighting from Streamlight. Read More

Featured

Artificial Intelligence

Webinars