Financial information

Nexans posts a solid performance for the first half 2019

Jul 24, 2019

 

  • Sales of 3.432 billion euros, representing +5.0% organic growth[1]
  • EBITDA of 195 million euros[2] for the first half 2019 (versus 153 million euros in first half 2018), up +19% like-for-like
  • Progress of the New Nexans plan in line with expectations,
    contributing +48 million euros to EBITDA before price cost-squeeze
  • Reorganization costs of -182 million euros impacting net income Group share (-116 million euros)
  • Consolidated net debt of 709 million euros at June 30, 2019, up +43 million euros year on year based on like-for-like data
  • Improved EBITDA outlook for 2019 now expected to be between 360 and 390 million euros excluding IFRS 16

 

“ “Our results for the first half of 2019 are very encouraging, which shows that the transition to the "New Nexans" is underway, it is paying off and is under control.
The recovery dynamic is homogeneous across the Group, both in terms of geographical areas and business. After six intense months, our transformation plan delivers significant progress on cost reduction, our Shift program, and selective growth. The greatest encouragement for me is the strength of mobilization and discipline of the teams during this first semester. I am confident in our ability to continue and accelerate our transformation process.” ”

Christopher Guérin

Nexans’ Chief Executive Officer

Presentation and conference call with analysts

Footnote

[1] The first half 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 +5 million euros and -4 million euros respectively.

[2] Consolidated EBITDA is defined as operating margin before depreciation and amortization. The impact of the first-time application of IFRS 16 at June 30, 2019 was +15 million euros on consolidated EBITDA and +132 million euros on consolidated net debt

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