The 2024 half-year financial report of Nexans has been filed with the AMF (Autorité des Marchés Financiers). It is available to the public in accordance with applicable laws and can be downloaded on Nexans website and on the AMF website.
This half-year financial report includes in particular the condensed consolidated financial statements as at June 30th, 2024, the half-year activity report, the declaration of the person responsible for the half-year financial report and the statutory auditors’ report.
H1 2024 Financial Report
Download the report (PDF – 893KO)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.”
More information
Nexans will publish its first-half 2024 earnings on Wednesday, July 24th, 2024 at 7:00am CEST. The press release and presentation will be available on our website.
Christopher Guérin, CEO, and Jean-Christophe Juillard, Deputy CEO & CFO, will host an audio webcast in English starting at 9:00am CEST on July 24th, 2024.
Please find the access details:
Audio dial-in, we suggest connecting 5-10 minutes prior to start time of the conference call.
- International switchboard: +44 (0) 33 0551 0200
- France: +33 (0) 1 70 37 71 66
- United Kingdom: +44 (0) 33 0551 0200
- United States: +1 786 697 3501
Confirmation code: Nexans
A replay will be available on our website after the conference.
| Date | Total number of shares | Total number of voting rights | |
| Theorical (1) | Exercisable (2) | ||
| May 31st, 2024 | 43,753,380 | 43,753,380 | 43,747,572 |
(1) Calculated based on all shares with voting rights, including treasury shares stripped of voting rights (Art. 223-11 of AMF General Regulations).
(2) For information, excluding treasury shares stripped of voting rights, excluding liquidity contract.
Provision of Nexans articles of association requiring shareholders to declare the crossing of threshold other than the legal thresholds: yes.
Extract of article 7 of Nexans articles of association: “Fully paid up shares may be registered or bearer at the option of the shareholder. In addition to the legal obligation to inform the company when certain fractions of the share capital are held, any natural or legal person and/or shareholder owning a number of shares in the company equal to or greater than 2 % of the share capital or voting rights must notify the company of the total number of shares held, within a period of fifteen days from the time the threshold is crossed, by registered letter with acknowledgement of receipt. A further notification must be sent, in accordance with the conditions hereof, each time that a multiple of 2 % is reached.“