Rexel: targets updated for 2020
(CercleFinance.com) - Electrical supply distributor Rexel has updated its targets for 2020, now expecting an adjusted EBITA margin of around 4.
1%, while limiting the decline in FY actual day sales to around -7%.
In addition, it now expects cash flow before interest and tax of at least 500 million euros, and now estimates its financial costs at only around 80 million euros (excluding 45.5 million euros in interest on lease obligations) for the current year.
In addition, Rexel has decided to redeem early its 300 million euro bond maturing in 2024, with a coupon of 2.625%, which will reduce recurring financial expenses by approximately eight million euros on an annual basis.
Copyright (c) 2020 CercleFinance.com. All rights reserved.