PRESS RELASE _
NEXANS STEERED FOR GROWTH
Steady EBITDA performance and net income turnaround unlocking value creation
Outperformance in ROCE and free cash flow, 10-year low Net Debt, setting strong financial footing
Nexans transformation anchored
In full-year 2020, amidst the global pandemic:
o Resilient standard sales1 of 5,713 million euros, down by -8.6% organically2
o Steady EBITDA3 of 347 million euros reflecting successful Group transformation, EBITDA rate of
6.1% in 2020 against 6.4% in 2019
o Outperformance in ROCE4 at 10.2% end of December 2020
o Strong turnaround in net income of 80 million euros, including a negative 102 million euros of estimated Covid-19 impact5 and the positive gains on divestments for 142 million euros (107 million euros net of tax), compared to a net loss of -118 million euros in 2019
o Outstanding Free Cash Flow6 of 157 million euros, exceeding expectations and reflecting new
Group norm of strict working capital management and cash generation focus o A 10-year low net debt of 179 million euros at December 31, 2020, demonstrating Nexans'
commitment to maintaining sound liquidity and improving cash conversion o Cable laying vessel Aurora and US High-Voltage cable plant Charleston operational mid-2021
o Proposed dividend of 0.70 euro per share
Nexans has successfully anchored its transformation by unlocking value and setting a strong financial footing across the Group.
o
2021 EBITDA outlook between 410 and 450 million euros o
Best-in-class operating working capital, structural improvement at 5% of current sales in December
2020
o
Early repayment of French State backed 280 million euros term loan ( PGE ) and 250 million euros
2021 Bond o
Nexans steered for growth, will host a historical Virtual Capital Market Day at 14.00 CET
Paris, February 17, 2021
Today, Nexans published its financial statements for the year ended December
31, 2020, as approved by the Board of Directors at its February 16, 2021 meeting chaired by Jean Mouton.
Commenting on the Group's 2020 results, Christopher Guérin, Nexans' Chief Executive Officer, said:
Despite the unprecedented global health and economic crisis, 2020 was a tipping point for Nexans, as we demonstrated our ability to accelerate the company's transformation, outperforming our financial performance both in ROCE and free cash flow, resulting in a 10-year low net debt. Our efforts, in the second semester, were focused on our long-term ambition, defining our new purpose to Electrify the future , our new values, our new ESG & Carbon neutrality commitment.
It's full steam ahead that we will announce today our new strategic chapter up to 2024, and 2021 will be a year of acceleration of our new strategic moves on Electrification. Nexans is starting 2021 confident and with ambitious goals.
1
To neutralize the effect of fluctuations in non-ferrous metal prices and therefore measure the underlying sales trend, Nexans also calculates its sales
