Yahoo Finance Rexel selected for inclusion in the CAC 40 ESG index
Rexel selected for inclusion in the CAC 40 ESG index
Rexel, a worldwide expert in the multichannel professional distribution of products and services for the energy world, has been selected for inclusion in Euronext's CAC 40 ESG index from Friday 16th September, after market close. The index groups the French companies among those figuring in the CAC Large 60 that demonstrate best practices in environmental, social and governance (ESG) issues.
Inclusion in this index is a recognition of Rexel's longstanding commitment to sustainable development, which is at the heart of its strategy. As a distributor of electrical supplies, Rexel notably plays a key role in the electrification and energy transition, both in its own activities and by supporting its customers to implement energy efficiency solutions and accelerate the promotion of green products and services. More particularly, in close relationship with suppliers, Rexel brings expertise and solutions to its customers in markets such as HVAC, solar energy, electric vehicles and industrial automation to lower energy costs and reduce CO2 emissions.
For more than 15 years, Rexel has been committed to a sustainable approach in ESG. On the environmental front, this has resulted in ambitious objectives, presented at our last Capital Markets Day in June. Rexel set itself the target of reducing its absolute greenhouse gas (GHG) emissions by 60% for scopes 1 and 2 and 45% for scope 3 by 2030. These targets, set in relation to 2016, have been validated by the Science Based Targets initiative (SBTi) Net-Zero Standard, and part of the Group's funding is linked to the achievement of environmental targets. In addition, the Group has also included ESG criteria in the variable compensation of management, notably on targets related to climate, diversity across the organization and for the leadership team, ethics, reduction in workplace accidents and stakeholder engagement.
A signatory of the United Nations Global Compact since 2011, Rexel is already included in a number of ESG indices, including FTSE4Good, Dow Jones, Sustainability Index Europe, Euronext Vigeo Europe 120 and Eurozone 120, as well as the STOXX® Global ESG Environmental Leaders. Its extra-financial performance is also recognized by the main rating agencies such as MSCI, CDP Climate Change, EcoVadis, Sustainalytics and the S&P Global Sustainability Yearbook 2022.
ABOUT REXEL GROUP
Rexel, worldwide expert in the multichannel professional distribution of products and services for the energy world, addresses three main markets: residential, commercial, and industrial. The Group supports its residential, commercial, and industrial customers by providing a tailored and scalable range of products and services in energy management for construction, renovation, production, and maintenance. Rexel operates through a network of more than 1,900 branches in 24 countries, with more than 26,000 employees. The Group’s sales were €14.7 billion in 2021.
Rexel is listed on the Eurolist market of Euronext Paris (compartment A, ticker RXL, ISIN code FR0010451203). It is included in the following indices: SBF 120, CAC Mid 100, CAC AllTrade, CAC AllShares, FTSE EuroMid, and STOXX600. Rexel is also part of the following SRI indices: FTSE4Good, Dow Jones Sustainability Index Europe, Euronext Vigeo Europe 120 and Eurozone 120, STOXX® Global ESG Environmental Leaders, and S&P Global Sustainability Yearbook 2022, in recognition of its performance in terms of Corporate Social Responsibility (CSR).
For more information, visit www.rexel.com/en.
CONTACTS
FINANCIAL ANALYSTS / INVESTORS
Ludovic DEBAILLEUX | +33 1 42 85 76 12 |
PRESS
Sara DU REAU | +33 6 60 31 77 72 | Sara.dureau@rexel.com |
Brunswick: Thomas KAMM | +33 1 53 96 83 92 |
DISCLAIMER |
The Group is exposed to fluctuations in copper prices in connection with its distribution of cable products. Cables accounted for approximately 17% of the Group's sales and copper accounts for approximately 60% of the composition of cables. This exposure is indirect since cable prices also reflect copper suppliers' commercial policies and the competitive environment in the Group's markets. Changes in copper prices have an estimated so-called "recurring" effect and an estimated so called "non-recurring" effect on the Group's performance assessed as part of the monthly internal reporting process of the Rexel Group: i) the recurring effect related to the change in copper-based cable prices corresponds to the change in value of the copper part included in the sales price of cables from one period to another. This effect mainly relates to the Group’s sales; ii) the non-recurring effect related to the change in copper-based cable prices corresponds to the effect of copper price variations on the sales price of cables between the time they are purchased and the time they are sold, until all such inventory has been sold (direct effect on gross profit). Practically, the non-recurring effect on gross profit is determined by comparing the historical purchase price for copper-based cable and the supplier price effective at the date of the sale of the cables by the Rexel Group. Additionally, the non-recurring effect on EBITA corresponds to the non-recurring effect on gross profit, which may be offset, when appropriate, by the non-recurring portion of changes in the distribution and administrative expenses.
The impact of these two effects is assessed for as much of the Group’s total cable sales as possible, over each period. Group procedures require that entities that do not have the information systems capable of such exhaustive calculations to estimate these effects based on a sample representing at least 70% of the sales in the period. The results are then extrapolated to all cables sold during the period for that entity. Considering the sales covered. the Rexel Group considers such estimates of the impact of the two effects to be reasonable.
This document may contain statements of future expectations and other forward-looking statements. By their nature, they are subject to numerous risks and uncertainties, including those described in the Universal Registration Document registered with the French Autorité des Marchés Financiers (AMF) on March 10, 2022 under number D.22-0083.These forward-looking statements are not guarantees of Rexel's future performance, Rexel's actual results of operations, financial condition and liquidity as well as development of the industry in which Rexel operates may differ materially from those made in or suggested by the forward-looking statements contained in this release. The forward-looking statements contained in this communication speak only as of the date of this communication and Rexel does not undertake, unless required by law or regulation, to update any of the forward-looking statements after this date to conform such statements to actual results to reflect the occurrence of anticipated results or otherwise.
The market and industry data and forecasts included in this document were obtained from internal surveys, estimates, experts and studies, where appropriate, as well as external market research, publicly available information and industry publications. Rexel, its affiliates, directors, officers, advisors and employees have not independently verified the accuracy of any such market and industry data and forecasts and make no representations or warranties in relation thereto. Such data and forecasts are included herein for information purposes only.
This document includes only summary information and must be read in conjunction with Rexel’s Universal Registration Document registered with the AMF on March 10, 2022 under number D.22-0083, as well as the financial statements and consolidated result and activity report for the 2021 fiscal year which may be obtained from Rexel’s website (www.rexel.com).
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