2024 Guidance upgraded
- H1 2024 standard sales of €3.5 billion (current sales of €4.2 billion), up +6.1% organically and Q2 2024 standard sales of €1.9 billion, up +9.4% organically
- Acceleration in Electrification businesses, up +14.1% organically in H1 2024, thanks to continued focus on value-added solutions
- Record adj. EBITDA of €412 million, up +16.4% year-on-year, adj. EBITDA margin at 11.6% up +96bps
- Robust Normalized FCF at €189 million, reflecting strong operational performance
- Balance sheet strengthened with two successful bond issuances
- Completion of the La Triveneta Cavi’s acquisition, enhancing European footprint and product offerings
- Halden subsea high-voltage plant’s extended capacity now operational, bolstering leadership in high-voltage solutions
- Full-year 2024 guidance upgraded, boosted by robust performance and integration of La Triveneta Cavi
- Adjusted EBITDA of between €750 and €800 million (€670 – €730 million previously)
- Normalized Free Cash Flow of between €275 and €375 million (€200 – €300 million previously)
- Capital Markets Day to be held on November 13, 2024 in London, and US investors day on November 20, 2024 in New York City.
Today, Nexans, a global leader in the design and manufacturing of cable systems to power the world, published its financial statements for the first-half of 2024, as approved by the Board of Directors at its meeting on July 23, 2024 chaired by Jean Mouton. Commenting on the Group’s performance, Christopher Guérin, Nexans’ Chief Executive Officer, said:
“The record profitability we have achieved in the first half of 2024 evidences our value growth focus and the strategic direction we have set for Nexans. We have seen robust growth across our Electrification segments, particularly in Generation & Transmission where the strategic expansion of our Halden plant in Norway has already begun to yield benefits.
The successful finalization of the acquisition of La Triveneta Cavi in Italy early June marks a significant milestone in our journey. This strategic move expands our Usage capabilities and reinforces our commitment to providing comprehensive, high-quality solutions to our customers globally.
Innovation continues to be a driving force behind our success, and our pioneering work, such as the superconducting fault current limiter developed with SNCF Réseau, exemplifies our dedication to pushing technological advancements.”