April 23, 2020 / 5:48 AM / a month ago

BRIEF-Rexel Q1 Sales Down 3.3% To EUR 3.23 Bln

April 23 (Reuters) -

* 2019 DIVIDEND CANCELLED; SUFFICIENT AVAILABLE LIQUIDITY TO NAVIGATE THE CURRENT TURMOIL

* SAME-DAY SALES DOWN 27.8% IN WEEK OF MARCH 23, WHEN NORTH AMERICA STARTED ENTERING LOCKDOWN, AND DOWN 27.7% IN FIRST 15 DAYS OF APRIL

* AT THE END OF MARCH, 94% OF OUR BRANCHES AND ALL DISTRIBUTION CENTERS WERE OPEN

* 20% CUT IN CEO AND BOARD MEMBER COMPENSATION AS OF APRIL

* Q1 SALES OF €3.225BN, REFLECTING A SOLID START TO THE YEAR UNTIL COVID-19-RELATED DISRUPTION FROM MID-MARCH

* AT MARCH 31, 2020, THE LIQUIDITY STOOD AT EUR 1.13BLN Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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