FINANCIAL AND ACCOUNTING INFORMATION as compared to 2016, mainly due to the increasing EBITA weight in the sales of China whose gross margin is In 2017, EBITA amounted to €12.1 million, down 15.6%, lower than the average. on a reported basis, as compared to €14.3 million in 2016. Distribution & administrative expenses In 2017, on a reported basis, distribution and On a constant basis, adjusted EBITA decreased administrative expenses amounted to €220.4 million, by 22.4% from 2016 and adjusted EBITA margin down 0.2% as compared to €220.8 million in 2016, decreased by 30 basis points to 0.9% of sales. reflecting current inflation compensated by lower Excluding South East Asia operations, adjusted bad debt expenses, especially in China. EBITA would have increased by 28.7% from 2016 and adjusted EBITA margin would have increased by On a constant basis, adjusted distribution and 24 basis points to 1.4% of sales. administrative expenses increased by 2.1% in 2017, representing 16.9% of sales, a 14 basis-point decrease as compared to 17.0% in 2016. Other operations YEAR ENDED DECEMBER 31, (in millions of euros) 2017 2016 Change in % REPORTED Sales 0.0 0.0 N/A Gross profit 0.0 0.1 N/A Distribution and administrative expenses (32.9) (27.3) 20.7% 5 EBITA (33.0) (27.2) 21.4% as a % of sales N/A N/A YEAR ENDED DECEMBER 31, (in millions of euros) 2017 2016 Change in % CONSTANT BASIS ADJUSTED FINANCIAL DATA Sales 0.0 0.0 N/A Gross profit 0.0 0.1 N/A as a % of sales N/A N/A Distribution and administrative expenses (32.9) (27.0) 21.8% as a % of sales N/A N/A EBITA (33.0) (26.9) 22.5% as a % of sales N/A N/A This segment mostly includes unal located recognized lower management fees invoicing to corporate-hosted expenses. In 2017, other operations operating segments as compared to 2016. REXEL 2017 – REGISTRATION DOCUMENT 207