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Investment > Private equity > Rexel
Rexel    | http://www.rexel.com
France - Investment : 464 million euros - 21,4 %

Rexel
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rexel
2009 Revenues

€11,307 million, (-12.1% as reported, -17.2% on comparable basis and at the same number of days).
2009 EBITA

€450 million, or 4.0% of revenues
Highlights of 2009
• Excellent resilience of operating performances under very challenging economic conditions.
• Financial structure and flexibility have been improved (renegotiation of bank covenants, return to the bond market and renegotiation of the company’s senior credit agreement) to finance possible acquisitions.
Economic conditions
The residential, industrial and commercial end-markets, which had begun to decline in 2008, continued to worsen in early 2009 before stabilizing during the second quarter. The end-user residential (especially in the United States) and industrial (especially in Germany and in several specific segments) markets showed a few signs of turning around at the end of 2009, and offer the company hope for a recovery during the second half of 2010. The end-user commercial market remains under pressure, and is not expected to recover any time before 2011.