- Electrocomponents, listed on the London Stock Exchange, had revenue of £1.95 billion (approximately ‘2.27 billion) in its last financial year ended 31 March 2020.
- Electrocomponents is a group specialising in the distribution of industrial and electronic products and solutions through six operating brands: RS Components, Allied Electronics & Automation, RS Pro, OKdo, DesignSpark and IESA.
Lindsley Ruth, Chief Executive Officer of Electrocomponents, believes that his group “performed well in its fiscal year ending March 31, 2020, despite an uncertain economic environment and the impact of the COVID-19 pandemic which began to affect trading volumes towards the end of the fiscal year”.
|
2020 |
2019 |
Change |
Like-for-like change |
|
|
Revenue |
£1,953.8m (~ 2276 M€, $2,542m) |
£1884.4m (~ 2196 M€, $2,451m) |
3,7% |
2,2% |
|
Operating profit |
£205.3m (~ 239 M€, $267m) |
£201.0m (~ 234 M€, $261m) |
2,1% |
|
|
Profit before tax |
£199.6m (~ 233 M€, $260m) |
£195.2m (~ 227 M€, $254m) |
2,3% |
# Background to the COVID-19 pandemic
All the distribution centres of the Electrocomponents Group are operational. However, demand levels were affected in April and May by the extension of COVID-19 containment measures in its main markets.
– Group sales at constant scope decreased by 14% in the first eight weeks of the new fiscal year ending March 31, 2021.
◦ The EMEA region recorded a decrease of 18%, Northern Europe a decrease of 19%, Southern Europe a decrease of 21% and Central Europe a decrease of 13%.
◦ The Americas recorded a 10% decline in sales on a like-for-like basis.
◦ Asia-Pacific recorded a 2% decline in sales on a like-for-like basis.
– At the Group level, the rate of decline in sales decreased slightly in May, as containment rules began to ease in some of its key markets.
