Net debt and asset impairments for 2015
Paris, January 26, 2016
Nexans announces, prior to the publication of its 2015 full year results on February 18th, 2016, that:
- Its net consolidated debt shall at 2015 year end be close to 200 million euros, reflecting a decrease of approximately 250 million euros over one year, after approximately 100 million euros of cash out for restructuring.
- The Group shall record asset impairments of approximately 150 million euros
(of which roughly two thirds of goodwill and intangible assets and one third of tangible and deferred tax assets), following amongst other factors the new drop of the prices of commodities (in particular Oil & Gas and mining) over the second semester 2015. This non cash charge shall impact in similar proportions the net consolidated result of the Company.
Nexans brings energy to life through an extensive range of cables and cabling solutions that deliver increased performance for our customers worldwide. Nexans’ teams are committed to a partnership approach that supports customers in four main business areas: Power transmission and distribution (submarine and land), Energy resources (Oil & Gas, Mining and Renewables), Transportation (Road, Rail, Air, Sea) and Building (Commercial, Residential and Data Centers). Nexans’ strategy is founded on continuous innovation in products, solutions and services, employee development, customer training and the introduction of safe, low-environmental-impact industrial processes.
In 2013, Nexans became the first cable player to create a Foundation to introduce sustained initiatives for access to energy for disadvantaged communities worldwide.
Nexans is an active member of Europacable, the European Association of Wire & Cable Manufacturers, and a signatory of the Europacable Industry Charter. The Charter expresses its members' commitment to the principles and objectives of developing ethical, sustainable and high-quality cables.
We have an industrial presence in 40 countries and commercial activities worldwide, employing close to 26,000 people and generating sales in 2014 of 6.4 billion euros. Nexans is listed on NYSE Euronext Paris, compartment A.
For more information, please consult: www.nexans.com