Annual Shareholders’ Meeting of May 10, 2007 - Confirmation of Nexans’ first semester outlook; possible improvement of medium-term objectives under consideration
Paris, May 10, 2007 – The Annual Shareholders' Meeting of Nexans, presided by Gérard Hauser, Chairman and CEO, will take place on May 10, 2007, at 4.30 pm in Paris.
Nexans will confirm its outlook for the first semester during the Annual Shareholders' Meeting:
- Sales are expected to show organic growth similar to that recorded in the first quarter of 2007:
+ 15% for its cable businesses, excluding electrical wires,
+ 6% for its business globally inclusive of the electrical wires business as a result of the reduction initiated by the Group in that business.
- The Group’s operating margin* should exceed 7% in the first half of 2007. This significant increase (compared with 4.8% at June 30, 2006) results from growth in fundamentally solid markets such as infrastructure for energy networks and industrial activities (oil & gas, transportation), coupled with a strong demand on the building market which has continued at the same pace as in the second half of 2006.
- Net financial debt at June 30, 2007, should remain stable compared to that recorded at December 31, 2006 (633 million euros), based on the copper price at March 31, 2007.
Nexans takes the opportunity of this Annual Shareholders' Meeting to indicate a possible improvement in its medium-term financial objectives in the case of a confirmation of the perspective of continuity of current market conditions, especially in the building market which is the most sensitive to short term cycles. Any such improvement would be communicated when Nexans publishes its accounts for 2007.
* A management indicator used by the Group to measure its operational performance. It is calculated at constant non-ferrous metals prices.
- May 15, 2007: Payment of dividend
- June 7, 2007: Individual shareholders’ information meeting in Clermont-Ferrand*
- June 19, 2007: Individual shareholders’ information meeting in Lille*
- July 25, 2007: Publication of 2007 first-half sales and results
* provisional dates
With energy as the basis of its development, Nexans, the worldwide leader in the cable industry, offers an extensive range of cables and cabling systems. The Group is a global player in the infrastructure, industry and building markets. Nexans addresses a series of market segments from energy, transport and telecom networks to shipbuilding, oil and gas, nuclear, automotive, electronics, aeronautics, handling and automation. With an industrial presence in more than 30 countries and commercial activities worldwide, Nexans employs 21,000 people and had sales in 2006 of 7.5 billion euros. Nexans is listed on the Paris stock exchange, compartment A of the Eurolist of Euronext. More information on www.nexans.com