Improved operational performance
Since 2017, the Group has undergone in-depth transformations in key countries with the intention to improve profitability, especially in the United States, the United Kingdom, and Spain. In the United States, Rexel changed its organization in early 2018 from a national banner-based approach to a regional multi-banner approach focusing on eight key regions (Northwest, Northeast, Midwest, Southeast, Florida, Gulf Central, Mountain Plains, and California).
The prioritization of service quality, in particular by the opening of branches/counters (62 in 2017-2019), and the improvement of inventory management to ensure better product availability resulted in 14 branch openings in 2019 (3 in France, 9 in the U.S. and 2 in New Zealand).
Selective capital allocation
In 2019, the Group also strengthened its financial structure and increased its agility by improving its debt ratio by 20 basis points and reducing its debt by nearly 69 million euros.
In 2020, the Group continued its strategy of refocusing on its core business with the sale of its Gexpro Services subsidiary in the United States in February. Specialized in the provision of customized integrated solutions, Gexpro Services was acquired in 2006 and operated primarily in the United States.