2019 HALF-YEAR FINANCIAL REPORT
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NEXANS | 2019 HALF-YEAR FINANCIAL REPORT
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Contents
2019 HALF-YEAR FINANCIAL REPORT
1 SIGNIFICANT EVENTS OF FIRST-HALF 2019 ..................................................................................................... 3
1.1 GOVERNANCE ................................................................................................................................................. 3
1.2 REPAYMENT OF THE 2,5% 2019 OCEANE BONDS ........................................................................................... 3
1.3 FINANCING OF THE AURORA CABLE LAYING VESSEL ........................................................................................... 4
2 OPERATIONS DURING FIRST-HALF 2019 .......................................................................................................... 4
2.1
2.2
2.3
2.4
OVERVIEW ...................................................................................................................................................... 4
2019-2021 TRANSFORMATION PLAN ................................................................................................................ 5
ANALYSIS BY BUSINESS ................................................................................................................................... 5
OTHER ITEMS IN THE FIRST-HALF 2019 CONSOLIDATED INCOME STATEMENT ...................................................... 8
3 OUTLOOK FOR 2019 ........................................................................................................................................... 10
4 RISK FACTORS AND MAIN UNCERTAINTIES .................................................................................................. 11
5 RELATED-PARTY TRANSACTIONS................................................................................................................... 12
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS SIX MONTHS ENDED JUNE 30,2019 ... 14
Consolidated income statement ............................................................................................................................ 15
Consolidated statement of comprehensive income ............................................................................................... 16
Consolidated statement of financial position ......................................................................................................... 17
Consolidated statement of changes in equity ........................................................................................................ 19
Consolidated statement of cash flows ................................................................................................................... 20
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS: ....................................................... 21
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ................................................................. 21
NOTE 2. SIGNIFICANT EVENTS OF THE PERIOD ......................................................................................... 25
NOTE 3. OPERATING SEGMENTS .................................................................................................................. 26
NOTE 4. SALES ................................................................................................................................................. 28
NOTE 5. OTHER OPERATING INCOME AND EXPENSES ............................................................................. 28
NOTE 6. NET ASSET IMPAIRMENT ................................................................................................................. 29
NOTE 7. OTHER FINANCIAL INCOME AND EXPENSES................................................................................ 29
NOTE 8. INCOME TAXES.................................................................................................................................. 29
NOTE 9. EARNINGS PER SHARE .................................................................................................................... 30
NOTE 10. GOODWILL ......................................................................................................................................... 30
NOTE 11. EQUITY ............................................................................................................................................... 31
NOTE 12. PENSIONS, RETIREMENT BONUSES AND OTHER LONG-TERM BENEFITS .............................. 32
NOTE 13. PROVISIONS ...................................................................................................................................... 33
