Financial results

H1 2022: Record-high financial performance

Jul 27, 2022
2022 Nexans H1 results

Paris, July 27, 2022 – Today, Nexans published its financial statements for the first-half of 2022, as approved by the Board of Directors at its meeting on July 26, 2022 chaired by Jean Mouton.

  • Record-high EBITDA, net income and ROCE performances, underpinned by strong momentum and Nexans’ transformation platform. 
  • The combination of transformation plan & strategic choices prove their efficiency & relevance:
    • The Amplify & SHIFT programs deliver an additional 25 million euro EBITDA impact;
    • Outstanding high quality 2.2 billion euro adjusted Generation & Transmission backlog up 51% versus end-June 2021,
    • Closing of Centelsa acquisition, in line with Electrification Pure Player strategy,
    • Preferred bidder for EuroAsia interconnector, awarded BorWin6 and Revolution offshore wind projects.
  • Latest strategic investments Charleston plant and Nexans Aurora vessel fully operational.
  • Full-year 2022 Guidance upgraded: 
    • EBITDA range of 560-590 million euros (from 500-540 million euros),
    • Normalized Free Cash Flow between 200 and 250 million euros (from 150-200 million euros).
  • Carbon neutrality targets validated by the SBTi.

“ The third energy revolution has started with the acceleration in the development of renewable energies, the urgent renewal of the electrical grid, and the electrification of the daily usage. This secular trend towards decarbonization and digitalization will benefit us as an Electrification pure player.

But it is not just a growth story, Nexans is entering into a new era of structural performance, generated by our disruptive transformation platform. This platform will enable us to constantly deliver sustainable results and has equipped our units to be recession-proof.

With an improvement in our EBITDA of +38%, a solid and healthy backlog and a structural transformation, we are able to raise our financial guidance for 2022. ”

Christopher Guérin

Nexans’ Chief Executive Officer

First-half 2022 key figures

(in millions of euros) H1 2021 H1 2022
Sales at current metal prices
Sales at standard metal prices1 
  Organic growth
EBITDA
  EBITDA as a % of standard sales
Operating margin
Reorganization costs
Other operating items
Operating income
Net financial expense
Income taxes
Net Income
3,735
3,112
+12.0%
222
7.1%
145
(33)
55
168
(34)
(52)
81
4,342
3,401
+5.1%
308
9.1%
220
(19)
62
263
(14)
(51)
199
Net debt
Normalized free cash-flow
112
132
346
104

 

1 Standard copper standard price of €5,000/ton.

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