Nexans posts a solid performance for the first half 2019

  • Sales of 3.432 billion euros, representing +5.0% organic growth
  • EBITDA of 195 million euros for the first half 2019 (versus 153 million euros in the first half 2018), up +19% like-for-like
  • Progress of the New Nexans plan in line with expectations, contributing +48 million euros to EBITDA before price cost-squeeze
  • Reorganization costs of -182 million euros impacting net income Group share (-116 million euros)
  • Consolidated net debt of 709 million euros at June 30, 2019, up +43 million euros year on year based on like-for-like data
  • Improved EBITDA outlook for 2019 now expected to be between 360 and 390 million euros excluding IFRS 16

Commenting on the Group’s first-half 2019 results, Christopher Guérin, Nexans’ Chief Executive Officer, said:
“Our results for the first half of 2019 are very encouraging, which shows that the transition to the "New Nexans" is underway, it is paying off and is under control. The recovery dynamic is homogeneous across the Group, both in terms of geographical areas and business. After six intense months, our transformation plan delivers significant progress on cost reduction, our Shift program, and selective growth. The greatest encouragement for me is the strength of mobilization and discipline of the teams during this first semester. I am confident in our ability to continue and accelerate our transformation process.”

Your Contact

Kash Ansari Marketing - Europe
kash.ansari@nexans.com

About Nexans

As a global leader in advanced cabling and connectivity solutions, Nexans brings energy to life through an extensive range of best-in-class products and innovative services. For over 120 years, innovation has been the company’s hallmark, enabling Nexans to drive a safer, smarter and more efficient future together with its customers. Today, the Nexans Group is committed to facilitating energy transition and supporting the exponential growth of data by empowering its customers in four main business areas: Building & Territories (including utilities, smart grids, e­mobility), High Voltage & Projects (covering offshore wind farms, submarine interconnections, land high voltage), Telecom & Data (covering data transmission, telecom networks, hyperscale data centers, LAN), and Industry & Solutions (including renewables, transportation, Oil & Gas, automation, and others). Corporate Social Responsibility is a guiding principle of Nexans’ business activities and internal practices. In 2013 Nexans became the first cable provider to create a Foundation supporting sustainable initiatives bringing access to energy to disadvantaged communities worldwide. The Group’s commitment to developing ethical, sustainable and high-quality cables drives its active involvement within several leading industry associations, including Europacable, The National Electrical Manufacturers Association (NEMA), International Cablemakers Federation (ICF) or CIGRE to mention a few. Nexans employs more than 26,000 people with industrial footprint in 34 countries and commercial activities worldwide. In 2017, the Group generated 6.4 billion euros in sales. Nexans is listed on Euronext Paris, compartment A. For more information, please consult: www.nexans.com