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Strengthening Branches, the Recycling Option Is Available 39% in 2005 5 calendar 6 Publication of the 1st 2008 quarterly results May 15, 2008 . General Meeting of Shareholders May 20, 2008 in Paris. Publication of the 2nd 2008 quarterly results No. As an industry expert to professional contractors and end users of electrical equipment, Rexel develops its Rexel has been included since January 2, 2008 in the NEXT 150 stock July 31, 2008 . proficiency every year in the area of energy-saving products and renewable energy products. With a concern for exchange index of NYSE Euronext, which represents the segment of the market trends and for their clients’ energy consumption reduction needs, Rexel’s employees play a significant medium to large market capitalization stocks listed on Euronext. As from Shareholder Meetings 2 role in advising, training and increasing their awareness, whether they be small contractors, large industrial or Feb. 26, 2008, Rexel will also benefit from the Deferred Settlement Service May 22, 2008 in Marseille. to Rexel’s shareholders commercial customers. (SRD). With a capitalisation exceeding one billion euros and a daily volume of June 17, 2008 in Rennes . LEADING DISTRIBUTOR WORLDWIDE OF ELECTRICAL SUPPLIES exchange of over one million euros, Rexel meets the SRD eligibility criteria. September 18, 2008 in Strasbourg. Investors can therefore defer the settlement of their transactions on Rexel May 2008 shares until the end of the month. In addition to the NEXT 150 index, Rexel message from the Chairman During a holiday period, if the children is part of the SBF 120, SBF 250, CAC Mid100 and CAC AllShares indexes. collected and returned used batteries to In the United States Since 2007, Rexel, Inc.’s clients have been Figures a branch, they received a gift. In 2007 sales of low consumption able to use their lighting product, battery collection and recovery service. Available share performance until April 4, 08 – base 100 as at April 4, 07 further information lighting sources accounted for By involving their employee’s families, when products are purchased in the agenda about 52% if the Group’s sales vs. Rexel Hailongxing is promoting sustainable 110 2007 ANNUAL REPORT: Strengthening branches, the recycling option is available 39% in 2005. They now exceed growth. Our 2007 Annual Report through two systems: the “Recyclepak” that of incandescence lighting 95 provides information on the of our global leadership package and its prepaid collection solution Rexel group’s key figures sources. or an “à la carte” service allowing the and events for the year handling of significant volumes with regular 80 2007. The report is available collections. Share price as at on request by mail, or can April 4, 2007: €16.50 Dear Shareholder, 65 be downloaded from our In Canada In the Group website: www.rexel.com In 2007 Westburne, one of Rexel’s Continued roll out of the ethics guide Share price on April 4, 2008: €11.07 2007 was a year of solid performance and Our profitable growth strategy will now be applied Canadian companies, and Philips 50 reinforcement of our global leadership. In a difficult with the same determination to a broadened and more During 2007 Rexel circulated its ethics ent Zylberman. Lighting, partnered to promote energy 04/04/07 08/02/07 11/30/07 04/04/08 environment, Rexel demonstrated the relevance of its balanced base, thus gaining in power and resilience. guide for employees in 16 languages. REXEL PEER INDEX WITHOUT REXEL & HAGEMEYER SbF 120 saving lighting systems. The cooperation Based on the principles of integrity, business model and the efficiency of its strategy by Composite index of the average rates of Peer shares (Grainger, Premier Farnell, Solar, Electrocomponents, Wesco, achieving strong growth: sales up +15.1%, operating In 2008 and in the medium term, Rexel is better translated to the manufacturer setting up respect and dialogue supported by Wolseley) in local currency. contact us profit exceeding our objectives with 16.2% growth, positioned to operate in structural growth areas, dedicated sales forces, training experts Rexel, the guide is in line with a global shareholding structure share information Email: gross operating margin of 6.1%, cash flow up 37.4% including the industrial market, emerging countries, in the branches, and creating a magazine ethics process encouraging employees [email protected] and net profit, before IPO costs, increased by 65.3% and key accounts. for clients. to “ask the right questions” in their work, ISIN: FR0010451203 from 2006. towards all of the Group’s stakeholders. 2% Telephone: I hope that this second letter to our shareholders will In China In order to facilitate management and Rexel employees Listing place: NYSE Euronext Rexel Hailongxing, Rexel’s Chinese Toll-free: 0800 666 111 With the acquisition of most of 2007 was also the year in which provide enough information to help you understand employee dialogue, a network of ethics (toll free from a fixed-line phone subsidiary based in Beijing launched an Market: Eurolist by NYSE Euronext - Compartiment A “Hagemeyer’s European businesses, Rexel we launched our offer to acquire why Rexel is more than ever prepared to increase its correspondents has been set up in each initiative in 2007 to collect and recycle in France) is more than ever prepared to increase Hagemeyer, the third-largest actor performance and to create value. country. Sector: industrial suppliers in the industry, which was completed used batteries at its three sites. To 24% 74% Internet: its performance and create value. encourage initial support and use of this Public Ray investment* First listing: April 4, 2007 “ in the first quarter of 2008. It is a Jean-Charles Pauze service, Rexel Hailongxing developed a www.rexel.com historic milestone in the industry of electrical supply Chairman of the Management Board Number of shares (as at December 31, 2007): 255,993,827 heading: finance promotion for their employees’ children. distribution business and for the Rexel Group. After Market capitalization (as at December 31, 2007): €3.2 bn Mail: the transfer to Sonepar of Hagemeyer’s businesses in North America, Asia-Pacific as well as selected assets Indexes (since January 22, 2002): Shareholder Relations Service 189-193, bd Malesherbes in Europe, we will increase our size by one third, thus NEXT 150, SBF 120, SBF 250, CAC MID 100, creating a group with 14.3 billion euros in sales, and a * mainly made up of Clayton, Dubilier & Rice, Eurazeo 75017 Paris, France and Merrill Lynch Global Private Equity CAC AllShares leader in many European markets. YOUR questions YOUR QUESTIONS break-down of 2007 pro forma sales * contents WHY IS REXEL’S GOOD OPERATING PERFORMANCE NOT REFLECTED IN ITS STOCK PRICE? No.1 new profile. pages 2-3 WHAT IS THE DIVIDEND AMOUNT FOR FY 2007 AND WHEN WILL IT BE PAID? North America strategy in action. page 4 35% Rexel’s stock price reflects the current market concern in terms of sector and geography exposure. From a sector point of • Photo credits: Michel Labelle, Arno Massee (Hagemeyer), Jean-Erick Pasquier (Agence Rapho), Laur The dividend proposed to the approval of the Shareholders’ Meeting dated May 20, 2008, amounts to €0.37 our commitments. page 5 view, Rexel realized in 2007, approx. 62% of its business in construction and 38% in industry. Residential and commercial per share. This represents a ratio of 30% of the net profits before I.P.O.-related. The dividend, if approved, will Rexel shares at a glance. page 6 construction are central to the growth prospects of developed economies and are broadly dependent on interest rates, savings be paid on June 30, 2008. and consumption trends, which are now the subject of highly differentiated scenarios. In addition, Rexel achieved 45% of its No.2 No.1 2007 sales in North America, where recession risks are high. With the acquisition of most of Hagemeyer’s European business, Europe Pacific Asia North America’s share of overall sales is reduced from 45% to 35% and the weight of Europe increased from 48% to 59%, 59% 6% which is a favourable factor of business resilience. * Excluding ACE, Chile and specific businesses managed by the Group (Citadel, Conectis, etc.). …see you soon! Annual synergies amounting to 1.5% of Hagemeyer’s acquired sales by 2011 2003-2007: in short outstanding performance 4 2 With Hagemeyer, The merger of the two players, whose areas By 2011, the expected synergies should of expertise are complementary, allows to account for 1.5% of the acquired sales, i.e. SALES (€bn) United States achieve significant synergies to reduce costs, approx. 50 million euros per year. 14.3 improve operational efficiency and increase sales. Simultaneously, the new Group will have 10.7 branches a reinforced profile, a reinforced sales network and broader Rexel, Inc. is betting on Ongoing concentration of purchasing from marketing and added value service capabilities 6.7 Cedar Park in Texas. A selected suppliers, rationalisation of back- to take full advantage of the market potential. rapidly growing town, new financial goals office functions, optimisation and convergence 50 miles northwest of Austin, Cedar Park has of the logistics and I.T. infrastructures. plans for large medical and 2003 2007 2007PF (1) commercial projects. The Strategic partnerships with suppliers branch opened late 2007 on By combining most of Hagemeyer’s European businesses with that of Rexel, An experienced management team to implement the integration +12% 2 Average annual growth rate a 743 m site and includes a the Group reinforces its global leadership and becomes more powerful, Rexel has set up an experienced team to In the past, Rexel has demonstrated its ability warehouse, showroom and offices. more resilient and more attractive. With its strong trackrecord in successful lead the integration of Hagemeyer’s retained to materialize the benefits of its acquisitions, OPERATING RESULT (€m) integration of past acquisitions, Rexel is convinced that this combination will European businesses and be ready to seize with rapid company integration (more than ensuring competitiveness % of sales provide an unparalleled source of profitable growth and value creation.
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