+6% organic growth and strong financial performance led by Electrification businesses.
2024 Guidance upgraded
Financial results
24 July 2024
2 min
building and a tree
  • 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.

More information

Financial results

H1 2024 earnings press release

pdf 501Ko 24 July 2024
Financial results

H1 2024 earnings presentation

pdf 10Mo 24 July 2024
Nexans to release first-half 2024 earnings on July 24th, 2024
Financial results
25 June 2024
1 min

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.

First quarter 2024 financial information
Good start to the year
Financial results
24 April 2024
2 min
building and a tree

Nexans, a global leader in the design and manufacturing of cable systems to power the world, announces its financial information for the first quarter of 2024.

  • First quarter 2024 standard sales of €1,692 million, up +2.8% organically year-on-year and up +4.7% excluding Other activities
  • Electrification businesses up +6.7% organically, reflecting double digit growth in Generation & Transmission segment and an acceleration in electrification trends globally
  • Record adjusted backlog for Generation & Transmission, mainly subsea-driven, at €6.7 billion, up +10.2% compared to December 2023
  • Electrification Pure Player profile further strengthened
    • Landmark agreement to acquire iconic La Triveneta Cavi in Italy – closing of the transaction expected in Q2
    • Latest strategic investment in Halden subsea high voltage plant operational, doubling manufacturing capacities in Norway
  • Strong balance sheet maintained: successful completion of a €350 million bond issue
  • E3 performance model at the heart of Nexans: People engagement reaching a record 78% rate
  • Full-year 2024 guidance confirmed
    • Adjusted EBITDA of between €670 and 730 million
    • Normalized Free Cash Flow of between €200 and 300 million
  • Capital Markets Day to be held on November 13, 2024 in London

Commenting on the Group’s first quarter highlights, Christopher Guérin, Nexans’ Chief Executive Officer, said: “2024 is off to a good start with record first quarter standard sales. Our Electrification businesses drive growth, up +6.7% organically year-on-year, supported by double-digit growth in Generation & Transmission, coupled with sustained momentum in Distribution and Usage segments. We are accelerating our Electrification pure player strategy with the planned acquisition of the iconic La Triveneta Cavi which will enhance our portfolio in Italy and will have a high-single-digit accretive impact on earnings per share from year one.

This quarter reflected strong trends in Electrification, the strength of our solutions, as well as the engagement of our teams reaching a record 78% rate, showing that Engagement leads to performance.

We remain committed to delivering value to our shareholders and customers as we continue to execute our strategy, and we are confident in our ability to achieve another year of performance.

Know more

Download the documents

Nexans delivers robust performance in 2023
Financial results
15 February 2024
3 min
  • 2023 standard sales of €6.5 billion, €7.8 billion current sales, strong profitability expansion and excellent cash generation.
  • Nexans delivered on all its objectives, which were upgraded last July, confirming the depth of its transformation year after year:
    • Adj. EBITDA at a historic high of €665 million, up +8% year-on-year, and adj. EBITDA margin at 10.2%; EBITDA including share-based payments at €652 million, outperforming target
    • Focus on value added solutions (SHIFT Prime) generating +€20 million incremental EBITDA in its Electrification businesses
    • Outstanding Normalized FCF at €454 million, reflecting strict management of working capital and Generation & Transmission’s adjusted backlog growth
  • Strong balance sheet maintained with net debt at €214 million and a 0.4x leverage ratio.
  • Proposed dividend up +10% to €2.30 per share.
  • Electrification Pure Player profile strengthened by M&A and investments:
    • Acquisition of Reka Cables in Finland with integration progressing ahead of plan, finalization of the divestment of Telecom Systems activity
    • MoU signed to expand medium voltage capacities in Morocco and serve the booming demand for the grid in the region
    • Halden high-voltage plant capacity extension completed early 2024 and new cable-laying vessel construction on track to deliver record Generation & Transmission adjusted backlog of €6.1 billion
  • Continued progress in CSR performance: -36% decrease in Scope 1, 2 and 3 GHG emissions ahead of SBTi targets.
  • Full-year 2024 guidance announced:
    • Adj. EBITDA of between €670 and 730 million
    • Normalized Free Cash Flow of between €200 and 300 million
  • Capital Markets Day to be held on November 13th, 2024.
Building & tree

Full press release

Nexans, a global leader in the design and manufacturing of cable systems to power the world, announces its financial results for the fiscal year 2023. The results were approved by the Board of Directors on February 14, 2024.

Download the report (PDF – 1MO)

Nexans’ robust performance in 2023 once again demonstrated the scale of our disciplined transformation since 2019. We delivered a record adj. EBITDA margin, and exceeded normalized free cash flow generation expectations. I would like to thank all our employees, who are the driving force behind our journey.

We made considerable progress on our sustainability agenda with GHG emissions at –36% versus 2019 (Scopes 1, 2 and 3), extending the deployment of our E3 performance model across our units.

On the acquisition front, we finalized a high-quality acquisition, with Reka Cables in Finland, and exited the Telecom Systems business, strengthening the Group’s profile, now resolutely focused on sustainable Electrification. The recent announcement of the signed agreement to acquire La Triveneta Cavi in Italy, with recognized excellence within the European low-voltage segment, is an additional milestone in our journey to become a global Electrification Pure Player.

Despite the ongoing macroeconomic uncertainties, we are entering 2024 with confidence and expect another year shaped by strong performance.

Christopher Guérin
Christopher Guérin

CEO, Nexans