Financial results

First quarter 2022 financial information

Apr 27, 2022
Nexans 2022 Q1 results

A strong start to the year, paving the way to Nexans’ full potential

  • Strong and selective value growth across all businesses, setting a robust basis for the year 
  • 2022 guidance confirmed 
  • Successfully managing a challenging environment - Auto-harness Ukraine units maintained at 85% capacity in Q1, now back to 100%
  • Implementing the 2022-2024 “Winds of change”– reorganized businesses around six segments
  • Completion of the Centelsa acquisition in Colombia early April 

 

  • Standard sales stood at 1,623 million euros, up +6.1% organically compared to first-quarter 2021 and +16.3% organically excluding Metallurgy, reflecting robust demand across markets and an acceleration in electrification trends globally
  • Demand drove healthy backlog growth (+19% year-on-year) with Generation & Transmission adjusted backlog(1) at 2.4 billion euros up +52% compared to March 2021
  • Excellent customer traction for our services and solutions and customer-focused innovations continued apace as part of our SHIFT Prime and Amplify programs 
  • Safety of our people and continuity of Auto-harnesses operations ensured in the Western Ukraine with units output and delivery capacities maintained at 85% during the quarter and organic standard sales growth of +16% in Auto-harnesses activity 
  • Cost pass through mechanism, successful monitoring of supply chain challenges and disciplined pricing measures supported margins  
  • S&P rating upgraded to BB+ confirming the Group’s successful transformation 
  • 2022 guidance(2) confirmed, supported by selective sales growth and transformation program

Paris, April 27, 2022 – Today, Nexans published its financial information for the first quarter of 2022. Commenting on the Group’s highlights, Christopher Guérin, Nexans’ Chief Executive Officer, said: “During the first quarter, our priority was the safety of the teams working for our Automotive Harnesses business in Western Ukraine. Our sites continued to operate at over 85% of their nominal capacity, and business is now back to normal, which is remarkable in the context of the war. At present, we can only hope for a cessation of hostilities as soon as possible and a return to diplomacy in the country.

Group-wide, we started the year with exceptionally strong momentum, directly resulting from the implementation of our new strategy combining smart growth (value driven) with our strategic customers and the deployment of our very successful transformation programs, SHIFT and Amplify. We are therefore confident about achieving our 2022 financial guidance.

This month we welcomed on-board the world-class cable manufacturer Centelsa in Latin America, a USD339 million Company generating USD29 million in EBITDA, pre-synergy. This marks the first key milestone in Nexans’ strategy to become a Pure player of the sustainable electrification of the world.

 

(1) Adjusted backlog including subsea and land contracts secured but not yet enforced in the former High Voltage & Projects segment.
(2) Guidance confirmed for EBITDA and Normalized free cash flow.

Your Contact

Élodie Robbe-Mouillot

Investor Relations

Elyette Roux

Chief Sales, Marketing & Communications Officer

Press Relations

PR

Contact us

Topics on which you wish to get more informations:

Required fields*

Please check your entry and try again.

An email address must contain a single @

Personal data protector

You have the right to object to the processing of your personal data and/or their use for direct marketing or commercial purposes

Thank you!

Thanks for contacting us. We will be in touch with you shortly.

Error

An error occurred. Please try again.

Close