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Energy supplies distributor Rexel raises 2022 financial guidance

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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)

(Reporting by Sudip Kar-Gupta; Editing by Clarence Fernandez)

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