Nexans and SNCF Réseau revolutionize rail safety with an innovative superconducting fault current limiter

• Nexans and SNCF Réseau are once again joining forces in superconductivity to increase the safety and reliability of the rail network.
• Developed by Nexans and installed by SNCF Réseau, the superconducting fault current limiter (SFCL) is a world first on the rail market. It limits disruptions to the power supply of the rail network using a standalone system to reduce short-circuit currents.
• Designed to supply power for trains in the Belfort area (Burgundy-Franche-Comté region in France), this innovative limiter improves the availability of electrical installations.

Nexans, a leader in the design and manufacture of cable systems and services, is forming a unique partnership with SNCF Réseau, infrastructure manager of the French rail network, to deploy a superconducting fault current limiter. This technological innovation will secure and optimize electric rail traction on the line between Belfort and Delle, including the cross-border link with Switzerland.

A revolutionary solution for a more efficient rail network

Railway power grids are under growing pressure, with the continuing expansion of rail traffic and the upgrades to equipment. Power surges and short-circuits can cause major disruptions. To address this challenge, Nexans and SNCF Réseau have joined forces to deploy an innovative superconducting current limiter (SFCL).

Developed by Nexans, and integrated with the Bussurel substation, a strategic location identified by SNCF Réseau, the SFCL is able to reduce short-circuit currents in standalone mode, regenerating in less than five minutes, without human intervention.

This revolutionary technology offers several advantages:

• Improved network reliability and safety. The SFCL acts as a shock absorber in the event of a problem, limiting current peaks and disruptions to the network when short circuits occur.
• Optimized infrastructures. In the long term, the SFCL could pave the way for smaller electric traction installations, thereby cutting rail infrastructure costs, while supplying power for more trains.
• Better service. The SFCL avoids the need for rail works that are inconvenient for users, providing an efficient, cost-effective solution with no impact on the traffic schedule.

A partnership to support the energy transition in rail transport

Faced with the need to modernize power grids and meet growing demands for energy, Nexans is positioning itself as a leader in the development of revolutionary superconductor technologies. These innovations will completely transform the electrification of transport and power distribution, paving the way for a more sustainable, high-performance energy future.

Nexans’ vision is based on a network of interconnected superconductor systems, able to meet tomorrow’s energy challenges. This ambition is reflected in iconic projects such as the superconducting fault current limiter deployed on the Belfort-Delle line, a milestone in the collaboration between the two players, as well as the SuperRail project, to power the Montparnasse-Vouillé substation with superconducting cables. These partnerships illustrate the commitment made by the two players to innovation and sustainable development.

Deployment of the superconducting fault current limiter is scheduled for late 2025. This project is a major step forward in rail electrification, paving the way for further innovations to make transport safer, more reliable and more sustainable.

• Nexans is investing €4.5 million in its Draveil site to double production capacity of medical cables in response to growing demand.
• The NEWSENSE® micro-cables will be produced by machines entirely designed and manufactured by Nexans.
• Building on the expertise and know-how of the Draveil workforce, the Group is developing its cable offering dedicated to minimally invasive surgical technologies, pushing the limits of miniaturization.

A leading designer and manufacturer of cable systems and services, Nexans has announced a €4.5 million investment in its Draveil site outside Paris to double its production capacity for medical cables.

With this investment, Nexans will be able to meet growing demand for medical micro-cables used in invasive surgery, a fast-growing market expected to achieve annual growth of 5% a year over the next five years. These cables are used in particular for transcatheter technology and cardiovascular electrophysiology, as well as for monitoring sensors and endoscopy cable solutions.

Through this investment, Nexans will be able to develop its NEWSENSE range of medical cables in a new workshop expanding the existing facilities at the Draveil site. The Group is reaffirming its commitment to manufacturing in France, particularly for products requiring a high level of expertise, as it is the case in the medical field.

These cables meet the most stringent quality standards and will be manufactured on machines specially designed and built by the engineering teams at Nexans Draveil, as they seek to continuously push back the limits of miniaturization. As these machines do not yet exist on the market, they wil further sharpen the competitive edge of Nexans, allowing it to consolidate its position as an industrial leader in cutting-edge technologies.

Delivering the speed and efficiency necessary to stay competitive in this niche market, these machines also meet the highest standards of reliability and quality, with the use of optical control technology to inspect the cables on the production line.

With this investment, Nexans will be able to develop its offering for medical OEMs, a field in which the company has over 30 years’ experience. With a dedicated plant and laboratory, Nexans is setting the standard in the supply of micro-cables for devices used in medical exploration as well as in diagnosis and treatment, greatly improving comfort for both healthcare professionals and patients alike.

• Nexans has taken a significant leap forward in its electrification strategy by completing the acquisition of the iconic Italian company La Triveneta Cavi, with recognized excellence in the European medium- and low-voltage cable segments.
• La Triveneta Cavi boasts 700 skilled employees across 4 production units and generates over 800 million euros in sales.
• Nexans, with its proven track record of integrating new players, is poised to accelerate La Triveneta Cavi’s growth in key sectors such as building wire, fire-resistant cables, and renewable energy solutions.

Nexans, a leader in the global energy transition, today announces the completion of its acquisition of La Triveneta Cavi, one of the European leader in medium- and low-voltage cables. The acquisition is a significant leap forward in Nexans’ strategy to become an electrification pure player. La Triveneta Cavi brings a rich heritage of innovation, cutting edge manufacturing and logistics and a seasoned management team to further accelerate Nexans’ value creation in electrification.

Based in Italy since 1965, La Triveneta Cavi primarily manufactures low-voltage cables for building, infrastructure, fire-retardant cable systems and renewable energy applications across 30 countries. The company operates a best-in-class, vertically integrated network with three cable production units featuring highly efficient logistic capabilities, in addition to a world class “in-house” copper drawing facility. The company boasts a workforce of approximately 700 skilled employees and has generated current revenues of more than 800 million euros over the last twelve months.

The enterprise value of around 520 million euros represents a multiple of 5.6x 2023 EBITDA pre-synergies and 4.6x post run rate synergies. It will be high-single-digit accretive to earnings per share (EPS) from year one. Nexans’ financing of the acquisition will have limited impact on run rate leverage to remain ≤1.0x.

• Nexans has officially opened the newly expanded section of its high voltage subsea cable plant in Halden, Norway to support the increased demand globally for electrification and the energy transition.
• Nexans’ investment created more than 100 jobs and will be able to deliver 525kV HVDC and 420kV HVAC subsea cables.
• The plant incorporates the most advanced cable production technology to date and features a second extrusion tower which will allow the plant to insulate four cables simultaneously in addition to the two existing lines – the tallest building in Norway and the country’s first skyscraper.
• The Halden plant also celebrates its 50th anniversary, marking a key milestone in Nexans’ 109 year history in Norway.

Nexans, a leader in the world’s transition to a more connected and sustainable future has officially opened its newly expanded section of its high voltage subsea cable plant in Halden, Norway to support the increased demand globally for electrification and the energy transition. The expansion project will support key projects including Nexans’ frame agreement with TenneT signed last year.

The construction for the expansion of the plant began in November 2021 and incorporates some of the most advanced cable production technology which will be able to deliver subsea cables up to 525kV for High Voltage Direct Current (HVDC) and 420kV for High Voltage Alternating Current (HVAC). The 34,000 square meter expansion more than doubles the capacity of the plant for HVDC extruded cables. It also features a 152.89 meter tall second extrusion tower which will allow the plant to insulate four cables simultaneously in addition to the two existing lines and qualifies as Norway’s tallest building and first skyscraper. The tower will be focused on the production of HVDC cables for offshore wind farms, but can serve both HVDC and HVAC applications. 100 more people have been hired and trained to support the increase in production from the facility and local indirect jobs will also be created to support the supply chain in Europe and globally. This brings the total employment of the plant up to around 1,000 employees on site.

The Halden plant also celebrates its 50th anniversary. Having been originally built in 1974 to support the Skagerrak 1 and 2 interconnector projects in cooperation with Statnett, the facility has been involved in projects across the globe. The first extrusion tower was built in 1992 to incorporate the first high voltage XLPE insulated cables into Nexans’ portfolio. The plant also features a state-of-the-art testing facility for high voltage components as well as its own slip to load cables directly onto cable laying vessels such as Nexans’ CLV Aurora, C/S Skagerrak, and Nexans’ newest vessel under construction, the CLV Electra.

Nexans announces today the success of a bond issuance in an aggregate principal amount of €575 million with a 5-year maturity and an annual interest rate of 4.125%.

Nexans has taken a significant leap forward with this bond issuance, which will be used to finance the acquisition subject to regulatory approvals from the relevant authorities announced in February 2024 of La Triveneta Cavi, an iconic player in the European medium- and low-voltage cable segments, and/or for general corporate purposes of the Group.

Nexans seized the opportunity offered by an active and favourable market environment and the transaction has been welcomed by institutional fixed income investors in France and abroad, confirming the market’s confidence in the Group’s credit quality.

The bonds are rated BB+ by Standard & Poor’s and are admitted to trading on the regulated market of Euronext in Paris as from its issue date.

• Nexans and energy company Equinor strengthen their long-term collaboration with a four-year contingency and preparedness contract.
• Nexans’ unique and extensive repair expertise covers all types of existing cables
• The contract includes assistance from a team of Nexans experts and the provision of a vessel to meet the intervention requirements.

Nexans has signed a contingency and prepardness contract with international energy company Equinor.

As an international energy group committed to creating long-term value for a low-carbon future. Equinor has a long-standing relationship with Nexans which has resulted in a number of pioneering projects.

Nexans is extending this collaboration through a 4-year agreement that includes turnkey repair services for various cable systems. Equinor will manage and operate the contract on behalf of the Pipeline Repair and Subsea Intervention (PRSI) Pool members. The agreement covers approximately 3,000 km of cable.

To ensure Equinor’s assets’ normal functioning, Nexans will provide its unique expertise of performing complex turnkey repairs on all types of cables (XLPE, mass impregnated or oil-filled cables).

In the case of a cable system failure, Nexans will offer its expertise of installing and maintaining submarine cable systems by mobilizing highly-skilled teams to assess the fault and perform any necessary repairs. Nexans is committed to finding the most suitable solution and intervene as quickly as possible, ensuring continuity of power transmission. The areas of operation are located in Northern Europe but can be broadened according to the clients’ needs.

Upon recommendation of the Appointments and Corporate Governance Committee, the Nexans Board of Directors has resolved today to propose to the shareholders’ meeting to be held on May 16th, 2024: (i) the renewal of Jane Basson as an independent director and (ii) the appointment of Tamara de Gruyter as an independent director succeeding to Sylvie Jéhanno who is leaving the Board due to her increasing other engagements.

In addition, Tamara de Gruyter is appointed Censor, effective today. In such role she will attend all Board of Directors meetings and be bound by the same obligations as directors.

Tamara de Gruyter is President Portfolio Business and member of the executive board at Wärtsilä, a leading company in Finland.

She began her career in 1996 at LIPS which was acquired in 2002 by Wärtsilä. Tamara held various managerial positions within the company both in the Marine as well as Services Business. She had been Managing Director for 2 joint-ventures in China as well as for Wärtsilä’s pump business in Singapore. Upon returning to Europe, she has held various Vice President positions before becoming Chief Transformation Officer end of 2019. Tamara has been a member of Wärtsilä’s executive board since 2020 as President of Marine Systems and Head of Portfolio Business. Since January 1st, 2024, Tamara took up the role of President Portfolio Business. She is also a member of the Board of Directors of Combient Oy.

Tamara is a graduate of the Haarlem Polytechnic and holds a Bachelor in Shipbuilding Engineering.

In addition, the European Work Council has appointed Elisabetta Iaconantonio, General Accounting Specialist at the Pioltello site in Italy, as Director representing employees, succeeding to Bjorn Erik Nyborg. The Board of Directors thanks Bjorn Erik for his engagement over the past years, welcomes Elisabetta and wishes her every success in her new role.

• Nexans secures first call-off under 2GW TenneT framework agreement
• The project involves the EPCI of HVDC cables for the BalWin3 and LanWin4 offshore grid connection systems. Transmitting in total 4 Gigawatts (GW) of offshore wind energy from the North Sea to Wilhelmshaven in Germany (Lower Saxony).
• This key project reinforces Nexans’ position as a leader in the European offshore wind market

Nexans, leader in the design and manufacturing of cable systems and services has secured the first call-off under the TenneT framework agreement awarded in April 2023.

This project involves the Engineering, Procurement, Construction, and Installation (EPCI) of high-voltage direct current (HVDC) cables for the BalWin3 and LanWin4 grid connection systems. Transmitting in total 4 Gigawatts (GW) of offshore wind energy from the North Sea to Wilhelmshaven in Germany (Lower Saxony).

Nexans will be utilizing its new 525 kV HVDC XLPE cable technology and implementing an innovative “four bundle” cable laying method for the first time in the Group’s history for the project installed by its new cable laying vessel.

Nexans announces today the success of a bond issuance for an aggregate principal amount of EUR 350 million with a 6-year maturity and an annual interest rate of 4.25%.

This transaction has been welcomed by a diversified base of institutional fixed income investors in France and abroad and four times oversubscribed. The strong demand allowed Nexans to tighten a low coupon for a 6-year maturity with regard to market conditions.

Nexans seizes the opportunity offered by a favorable and well-oriented market environment to refinance in advance its outstanding EUR 200 million 2.75% bonds due April 5, 2024. The remaining part of the net proceeds will be allocated to general corporate purposes.

The bond is rated BB+ by Standard & Poor’s and is admitted to trading on the regulated market of Euronext in Paris as from its issue date.

• Nexans has taken a significant leap forward in its electrification strategy by signing an agreement to acquire the iconic Italian company La Triveneta Cavi, with recognized excellence in the European medium- and low-voltage cable segments, employing 700 people across 4 production units and generating above 800 million euros in sales.
• The Group will leverage its integrated business model and proven integration capabilities to accelerate La Triveneta Cavi’s growth in the building wire, fire-retardant and renewable energy sectors.

Nexans announces the signing of a landmark agreement to acquire iconic La Triveneta Cavi, with recognized excellence within the European medium- and low-voltage segments. Based in Italy, La Triveneta Cavi primarily manufactures low-voltage cables for building, infrastructure, fire-retardant cable systems and renewable applications across 30 countries.

Founded in 1965 by Ermenegildo Scalabrin, Gastone Massignan and Bruno Gobetti, the company employs a workforce of approximately 700 people and generated current revenues of more than 800 million euros over the last twelve months. La Triveneta Cavi operates a vertically integrated and best-in-class industrial footprint in Italy, including three cable production units featuring efficient logistical capabilities in Brendola and Tolentino, as well as one in-house copper drawing facility in Montecchio Maggiore.

Outstanding strategic benefits of this transaction include:

• Strategy execution: The proposed acquisition is a significant leap forward in Nexans’ strategy to become an electrification pure player, adding a widely recognized player with a long standing tradition of best-in-class innovation and industrial platforms, as well as a highly experienced management team with a strong track record.
• Customers benefits: Enhancing Nexans’ building cable portfolio to address the major market shift toward fire safety: global demand for fire safety cables is expected to grow at a c.+13% CAGR over the 2021-2030 period. Demand will continue to be supported by new safety regulations, electricity demand growth, and new build and renovation trends. Nexans will further develop La Triveneta Cavi’s experience in fire-retardant capabilities to expand the Group’s global fire safety offer.
• A high-value transaction for Nexans’ shareholders: The addition of La Triveneta Cavi will generate synergies and thereby value for shareholders. These synergies are expected to be captured through the integration of La Triveneta Cavi’s operations into Nexans, along with the deployment of Nexans’ proven proprietary programs, SHIFT Performance and SHIFT Prime, to enhance customer centricity and value-added solutions.

The transaction represents an acquisition multiple of 5.6x La Triveneta Cavi’s 2023 EBITDA pre-synergies and 4.6x post-synergies and will be high-single-digit accretive to earnings per share (EPS) from year one. Nexans’ financing of the acquisition will have limited impact on leverage.

Closing of the transaction is subject to regulatory approvals and satisfaction of other customary closing conditions.