Information on share capital and voting rights – July 2024

The 2024 half-year financial report of Nexans has been filed with the AMF (Autorité des Marchés Financiers). It is available to the public in accordance with applicable laws and can be downloaded on Nexans website and on the AMF website.

This half-year financial report includes in particular the condensed consolidated financial statements as at June 30th, 2024, the half-year activity report, the declaration of the person responsible for the half-year financial report and the statutory auditors’ report.

• H1 2024 standard sales of €3.5 billion (current sales of €4.2 billion), up +6.1% organically and Q2 2024 standard sales of €1.9 billion, up +9.4% organically
• Acceleration in Electrification businesses, up +14.1% organically in H1 2024, thanks to continued focus on value-added solutions
• Record adj. EBITDA of €412 million, up +16.4% year-on-year, adj. EBITDA margin at 11.6% up +96bps
• Robust Normalized FCF at €189 million, reflecting strong operational performance
• Balance sheet strengthened with two successful bond issuances
• Completion of the La Triveneta Cavi’s acquisition, enhancing European footprint and product offerings
• Halden subsea high-voltage plant’s extended capacity now operational, bolstering leadership in high-voltage solutions
• Full-year 2024 guidance upgraded, boosted by robust performance and integration of La Triveneta Cavi
  • Adjusted EBITDA of between €750 and €800 million (€670 – €730 million previously)
  • Normalized Free Cash Flow of between €275 and €375 million (€200 – €300 million previously)
• Capital Markets Day to be held on November 13, 2024 in London, and US investors day on November 20, 2024 in New York City.

Today, Nexans, a global leader in the design and manufacturing of cable systems to power the world, published its financial statements for the first-half of 2024, as approved by the Board of Directors at its meeting on July 23, 2024 chaired by Jean Mouton. Commenting on the Group’s performance, Christopher Guérin, Nexans’ Chief Executive Officer, said:

“The record profitability we have achieved in the first half of 2024 evidences our value growth focus and the strategic direction we have set for Nexans. We have seen robust growth across our Electrification segments, particularly in Generation & Transmission where the strategic expansion of our Halden plant in Norway has already begun to yield benefits.

The successful finalization of the acquisition of La Triveneta Cavi in Italy early June marks a significant milestone in our journey. This strategic move expands our Usage capabilities and reinforces our commitment to providing comprehensive, high-quality solutions to our customers globally.

Innovation continues to be a driving force behind our success, and our pioneering work, such as the superconducting fault current limiter developed with SNCF Réseau, exemplifies our dedication to pushing technological advancements.”

Nexans will publish its first-half 2024 earnings on Wednesday, July 24th, 2024 at 7:00am CEST. The press release and presentation will be available on our website.

Christopher Guérin, CEO, and Jean-Christophe Juillard, Deputy CEO & CFO, will host an audio webcast in English starting at 9:00am CEST on July 24th, 2024.

Please find the access details:

Webcast link

Audio dial-in, we suggest connecting 5-10 minutes prior to start time of the conference call.

• International switchboard: +44 (0) 33 0551 0200
• France: +33 (0) 1 70 37 71 66
• United Kingdom: +44 (0) 33 0551 0200
• United States: +1 786 697 3501

Confirmation code: Nexans

A replay will be available on our website after the conference.

• Nexans has taken a significant leap forward in its electrification strategy by completing the acquisition of the iconic Italian company La Triveneta Cavi, with recognized excellence in the European medium- and low-voltage cable segments.
• La Triveneta Cavi boasts 700 skilled employees across 4 production units and generates over 800 million euros in sales.
• Nexans, with its proven track record of integrating new players, is poised to accelerate La Triveneta Cavi’s growth in key sectors such as building wire, fire-resistant cables, and renewable energy solutions.

Nexans, a leader in the global energy transition, today announces the completion of its acquisition of La Triveneta Cavi, one of the European leader in medium- and low-voltage cables. The acquisition is a significant leap forward in Nexans’ strategy to become an electrification pure player. La Triveneta Cavi brings a rich heritage of innovation, cutting edge manufacturing and logistics and a seasoned management team to further accelerate Nexans’ value creation in electrification.

Based in Italy since 1965, La Triveneta Cavi primarily manufactures low-voltage cables for building, infrastructure, fire-retardant cable systems and renewable energy applications across 30 countries. The company operates a best-in-class, vertically integrated network with three cable production units featuring highly efficient logistic capabilities, in addition to a world class “in-house” copper drawing facility. The company boasts a workforce of approximately 700 skilled employees and has generated current revenues of more than 800 million euros over the last twelve months.

The enterprise value of around 520 million euros represents a multiple of 5.6x 2023 EBITDA pre-synergies and 4.6x post run rate synergies. It will be high-single-digit accretive to earnings per share (EPS) from year one. Nexans’ financing of the acquisition will have limited impact on run rate leverage to remain ≤1.0x.

(1) Calculated based on all shares with voting rights, including treasury shares stripped of voting rights (Art. 223-11 of AMF General Regulations).
(2) For information, excluding treasury shares stripped of voting rights, excluding liquidity contract.

Provision of Nexans articles of association requiring shareholders to declare the crossing of threshold other than the legal thresholds: yes.

Extract of article 7 of Nexans articles of association: “Fully paid up shares may be registered or bearer at the option of the shareholder. In addition to the legal obligation to inform the company when certain fractions of the share capital are held, any natural or legal person and/or shareholder owning a number of shares in the company equal to or greater than 2 % of the share capital or voting rights must notify the company of the total number of shares held, within a period of fifteen days from the time the threshold is crossed, by registered letter with acknowledgement of receipt. A further notification must be sent, in accordance with the conditions hereof, each time that a multiple of 2 % is reached.“