- Standard sales of €5,226 million in the first nine months of 2024, up +4.0% organically year on year and up +6.9% excluding Other activities
- Electrification businesses up +7.9% organically in the third quarter of 2024, reflecting early-bird strategic investments in the Generation & Transmission segment
- Strong adjusted backlog for Generation & Transmission, mainly subsea-driven, at €6.2 billion, up +19% compared to September 2023
- Expansion of manufacturing capacities through investments in onshore high-voltage and the production of low-carbon medium-voltage cables in France
- Strategic investment agreement in France to increase copper production and recycling capacity across Europe
- Ambitious Net-Zero 2050 climate targets approved by the Science Based Targets initiative
- Full-year 2024 guidance as updated in July 2024 confirmed
- Adjusted EBITDA of between €750 and 800 million
- Normalized Free Cash Flow of between €275 and 375 million
- Capital Markets Day to be held on November 13, 2024 in London and virtually, and US investors day on November 20, 2024 in New York City
Nexans, a global leader in the design and manufacturing of cable systems to power the world, announces its financial information for the first nine months of 2024. Commenting on the Group’s highlights, Christopher Guérin, Nexans’ Chief Executive Officer, said:
“The first nine months of 2024 have laid strong foundations for a robust financial year. Our Electrification businesses continue to drive growth, up +7.9% organically in the third quarter of 2024, showcasing that early strategic investments in Generation & Transmission are already yielding benefits.
In order to reinforce the positioning of our electrification strategy and keep pace with increasing electricity demand, we have decided to invest €90 million in onshore high-voltage capacity at our French and Belgian plants and €15 million in the production of low-carbon medium-voltage cables in France. In addition, Nexans continues to lead the way in the circular economy with a strategic investment agreement at the Lens plant, enabling the recycling of over 80,000 metric tons per year.
As we look ahead, I am confident that our continued focus on performance and strategic execution will drive long-term value for all stakeholders. At our upcoming Capital Markets Day in November, where we will further outline the initiatives that will shape Nexans’ trajectory in the years to come.”