Financial information

Third quarter 2021 financial information

Nov 3, 2021

  • Steady sales growth despite challenging supply chain environment
  • 2021 guidance confirmed
  • First M&A milestone of Nexans 2022-2024 strategic ambition to Electrify the Future

 

  • +8.2% year-on-year standard[1] revenue organic growth[2] in the first nine months of 4,494 million euros, reflecting dynamic recovery and selective growth in line with SHIFT transformation and despite challenging supply chain environment. In the third quarter, Group standard sales up +0.4% compared to third quarter 2020 at 1,382 million euros
  • Current sales land at 5,448 million euros in the first nine months of the year, up +27.2% alongside copper price inflation
  • Successful monitoring of supply chain challenges with no material margin impact due to raw material shortage and cost inflation
  • Demand drives healthy backlog growth (+9% year-on-year) across all businesses; with Subsea High-Voltage adjusted backlog at 1.5 billion euros[3]
  • Nexans Aurora inauguration and Charleston US high voltage plant commissioned to support the energy transition.
  • Nexans 2022-2024 strategic ambition to Electrify the Future: groundwork initiated with the agreement to acquire Centelsa in Colombia[4]
  • Confirmed 2021 guidance  supported by selective sales growth, fixed costs reductions and SHIFT Performance program achievements

Paris, November 3, 2021 – Today, Nexans published its financial information for the third quarter of 2021. Commenting on the Group’s achievements, Christopher Guérin, Nexans’ Chief Executive Officer, said: “Nexans confirms its solid trajectory and topline momentum supported by new value creation levers around its mission: Electrify the future. Thanks to our amplified solutions, we have initiated our strategic ambition 2022-2024 and reached first successes as our backlog is steadily up year-on-year and we confirm our 2021 financial guidance upgraded in July. Nexans has a sound and clear roadmap to become the Pure player of Electrification. In the last weeks, we have:

  • Inaugurated with our key stakeholders our new vessel Nexans Aurora, an important enabler to build a safer, more sustainable and inclusive global energy system. This leading-edge vessel will contribute to unlocking the huge potential of offshore renewable energy and subsea interconnection alongside our unique subsea cable manufacturing plant in Charleston, USA.
  • Reached a first milestone of our new strategic ambition by announcing September 10th a Share Purchase Agreement with Xignux SA to acquire Centelsa4, a premium cable maker in Latin America. This world class and iconic South American operation will further contribute to Nexans’ ability to serve renewable projects in the Andean Region.
  • Continued to launch innovations to support further value creation while also reinforcing our ESG commitments by hosting Nexans’ second Climate Day and proposing the election of Laura Bernardelli as an independent director to the shareholders' meeting.

Nexans strives to best serve customer needs while engaging in a better future and focusing on value growth for all its stakeholders.

Footnotes

[1] To neutralize the effect of fluctuations in non-ferrous metal prices and therefore measure the underlying sales trend, Nexans also calculates its sales using standard prices for copper (standard price at 5,000 €/t) and aluminum (standard price at 1,200 €/t).
[2] The first nine months of 2021 sales figure used for like-for-like comparisons corresponds to sales at standard 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 standard non-ferrous metal prices by +€5m and -€152m respectively.
[3] Adjusted subsea backlog including contracts secured not yet enforced.
[4] Subject to regulatory approval.
[5] Guidance confirmed for EBITDA, ROCE and FCF.

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