(Boursier.com) — Rexel records the best performance of the week on the SBF120 thanks to a gain of almost 14%. Around 21.4 euros, the title is evolving at the highest point in its stock market history. Investors have welcomed the latest announcements from the world leader in the professional distribution of electrical equipment. The group has indeed indicated that it has exceeded its objectives for the year 2021 thanks to better than expected commercial activity in the fourth quarter as well as its focus on gross margin and cost discipline. The company’s sales growth (at constant days) should thus have reached 15.3% last year (against a forecast of between 12% and 15%), while the adjusted Ebita margin is estimated at 6, 2% for 2021 against a forecast of 5.7%.
“We are starting 2022 with strong order books both at Rexel and our customers, driven by healthy underlying demand and projects that were postponed from last year due to low labor availability. -work and tensions in the supply chain”, underlined the group.
Following these announcements, JP Morgan upgraded the file from 25 to 27 euros while maintaining its ‘overweight’ opinion.
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