PARIS (Reuters) - Electrical supplies distribution company Rexel raised its 2022 financial guidance on Thursday, unveiling targets for the 2022-2025 period that included share buybacks worth 400 million euros ($417.5 million).
For 2022, Rexel is now targeting same-day sales growth of between 7% and 9%, up from its earlier range of 4% to 6%.
"Rexel is poised today to power up its profitable growth story," Chief Executive Guillaume Texier said in a statement.
It also forecast for 2022 an adjusted EBITA (earnings before interest, tax and amortisation) margin of about 6.7%, including 50 basis points of positive one-off effects, up from a previous target of above 6%.
Targets unveiled for the 2022-2025 period include share buybacks worth 400 million euros and acquisitions the company said would add up to 2 billion euros of sales.
It also aims for a yearly dividend payout of at least half its recurring net income for that period.
($1=0.9581 euros)