Value-Driven Growth Model Sets Strong Foundation for the Year
26 Aprile 2023 - 7:00AM
Value-Driven Growth Model Sets Strong Foundation for the Year
PRESS RELASE
VALUE-DRIVEN GROWTH MODELSETS STRONG FOUNDATION FOR THE YEAR
- First-quarter 2023 standard
sales of 1,674 million euros, up
+2.2% organically year-on-year
and
+6.5% excluding Other
activities
- Distribution segment
benefiting from expanding grid investments in Europe and North
America and renewable energy projects more globally
- Accelerating
innovation and
deployment of
solutions:
+100%
growth in Connected Objects and
40 million euros
investment in
Autun plant for Fire
Safety Technology
- Healthy
adjusted backlog1 for
Generation & Transmission at 3.2 billion
euros, up +32% compared to March
2022 with unique risk-reward
model
-
2023 guidance
confirmed underpinned by strategic focus on
value-driven growth
and Nexans’ transformation
platform
- Step-up in
Electrification Pure Player strategic
roadmap:
- Exclusive negotiations to divest
Telecom Systems
- Antitrust clearance obtained for
Reka Cables acquisition in Finland - closing of the transaction
imminent
- Revised S&P outlook
from Stable
to
Positive, with BB+ rating
confirmed
~ ~ ~
Paris, April
26th,
2023 – Today, Nexans published
its financial information for the first quarter of
2023. Commenting on the Group’s performance, Christopher
Guérin, Nexans’ Chief Executive Officer, said:
“We continued our momentum from a successful
2022 and began 2023 with a strong start. Our success can be
attributed to our strategic approach that combines value-driven
growth with a focus on our key customers.
We are proud to announce that our recent
innovations and solutions have led to exceptional development, with
a growth rate of over 100% in Connected Objects in just one
quarter. Furthermore, we are investing 40 million euros in our
Autun plant in France over the next three years to accelerate the
deployment of our Fire Safety technology.
We are continuing to pursue our strategy of
inorganic regional growth in the Electrification market, with the
Reka Cables acquisition in Finland to be finalized imminently. We
actively work towards a safer and more sustainable world by
applying our E3 performance model of economics, engagement, and the
environment to all of our business decisions.
We are confident that we will achieve our 2023
financial objectives thanks to a resilient electrification tailwind
and our proven ability to execute on our commitments, even in
uncertain times.”
CONSOLIDATED SALES BY SEGMENT
|
(in millions of euros) At standard
metal prices Copper reference at €5,000/t |
Q1 20222 |
Q1
2023 |
|
Organic growth Q1
2023 vs. Q1
2022 |
Sequential growth
Q1 2023 vs.
Q4 2022 |
|
Electrification |
927 |
942 |
|
-0.1% |
-1.3% |
|
Generation & Transmission |
246 |
200 |
|
-10.7% |
-25.8% |
|
Distribution |
242 |
277 |
|
+7.1% |
+10.5% |
|
Usages |
439 |
465 |
|
+1.5% |
+6.9% |
|
Non-electrification (Industry &
Solutions) |
367 |
449 |
|
+22.3% |
+14.3% |
|
Total Group (excl. Other
activities) |
1,294 |
1,391 |
|
+6.5% |
+3.2% |
|
Other activities |
329 |
282 |
|
-14.4% |
-13.2% |
|
Total Group |
1,623 |
1,674 |
|
+2.2% |
+0.0% |
~ ~ ~
A webcast is scheduled today at 9:00 a.m. CET.
Please find below the access details:
Webcast
https://channel.royalcast.com/landingpage/nexans/20230426_1/
Audio dial-in
- 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
About Nexans
For over a century, Nexans has played a crucial
role in the electrification of the planet and is committed to
electrifying the future. With around 28,000 people in 42 countries,
the Group is leading the charge to the new world of
electrification: safe, sustainable, renewable, decarbonized and
accessible to everyone. In 2022, Nexans generated 6.7 billion euros
in standard sales. The Group is a leader in the design and
manufacturing of cable systems and services across four main
business areas: Generation & Transmission, Distribution,
Usages, and Industry & Solutions. Nexans was the first company
in its industry to create a Foundation supporting sustainable
initiatives bringing access to energy to disadvantaged communities
worldwide. The Group pledged to contribute to carbon neutrality by
2030.
Nexans. Electrify the future.
Nexans is listed on Euronext Paris, compartment
A.For more information, please visit
www.nexans.com
Contacts:
|
Investor relationsElodie
Robbe-Mouillotelodie.robbe-mouillot@nexans.com |
CommunicationEmmanuel
Guinotemmanuel.guinot@nexans.com |
NB: Any discrepancies are due to rounding
This press release contains forward-looking
statements which are subject to various expected or unexpected
risks and uncertainties that could have a material impact on the
Company’s future performance.
Readers are invited to visit the Group’s website
where they can view and download the 2022 Universal Registration
Document, which includes a description of the Group’s risk
factors.
1 Pro forma adjusted backlog, including Special Telecom.2 Pro
forma sales at standard non-ferrous metal prices. The detailed
impact of changes is set out in the appendix to this press
release.
- Nexans_First quarter 2023 Press release
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