Finance

2019 first quarter financial information

May 2, 2019

 

  • Consolidated sales for first quarter 2019: 1,664 million euros, up +7.7%[1] on an organic basis compared to first quarter 2018
  • +10.1% organic sales growth for cable and wire activities[2], reflecting a buoyant start to the year
  • A sharp -8.0% contraction in sales for the High Voltage & Projects segment, reflecting low industrial workloads for land high voltage projects (with sales down -21.1% for that sector), and a -2.4% sales decline in the submarine sector due to the impact, as expected, of project scheduling
  • On-schedule progress for the “New Nexans” plan, with the rollout of the SHIFT transformation program

 

“ The first quarter of 2019 marked the go-live of the “New Nexans” plan, which we launched last November. The transformation program is being rolled out as scheduled and we expect to start reaping measurable benefits as from the first half of the year. First quarter growth was primarily the result of a favorable basis of comparison with first quarter 2018 and was not detrimental to the margin. This trend is expected to strengthen our pricing power for part of our business over the short and medium term. ”

Christopher Guérin

Nexans' Chief Executive Officer

Conference call

A conference call  has been organized on May 2.
To listen to the conference, you can download the MP3 recording of this call on the right.

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mp3 - 6.1 MB

Audio recording of the conference call Q1 02052019

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Footnote

[1] The first quarter 2019 sales figure used for like-for-like comparisons corresponds to sales at constant non-ferrous metal prices adjusted for the effects of exchange rates and changes in the scope of consolidation. Exchange rates and changes in the scope of consolidation impacted sales at constant non-ferrous metal prices by a positive +5 million euros and a negative -2 million euros respectively.

[2] The cable and wire activities include all the businesses except High Voltage & Projects.

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