PRESS RELEASE
2016 FIRST-HALF RESULTS
ð· Operating margin up 42% year on year to 135 million euros with organic sales volume growth of 0.2%1 (2%2 in the second quarter); 22% increase in EBITDA3
to 203 million euros;
ð· Net debt scaled back by 158 million euros over 12 months to 373 million euros at June 30, 2016;
ð· Return to net profit : 29 million euros.
Paris, July 28, 2016 Today, Nexans published its financial statements for the six months ended June 30, 2016, as approved by the Board of Directors at its meeting chaired by Georges Chodron de Courcel on July 27, 2016.
During the first half of 2016, Nexans notched up a number of commercial successes in its key business areas.
For example, in the energy infrastructure sector, it won a contract worth around
245 million euros to connect the Beatrice Offshore Wind Farm to the Scottish grid.
Nexans' high-voltage subsea and land cables will help meet the growing energy demands in the region as once it is fully operational the wind farm could provide the electrical needs of over 450,000 British households.
Also during the period, as part of a turnkey project worth around 75 million euros carried out for BKK Nett AS a leading Norwegian power company Nexans achieved two world records when it supplied and installed the world's longest and deepest
420 kV XLPE (cross-linked polyethylene) insulated submarine cable system in Western
Norway.
In the natural resources sector, Nexans has been selected to supply power cables for the Umm Al Houl Water and Power Project in Qatar an integrated power and desalination plant that will materially increase the country's power generation
Nexans is expanding the international coverage of its umbilical cables with a new project in Australia for OneSubsea. Nexans umbilical cables and connector interfaces will also be used in the development of the Greater Enfield project, an offshore oil field operation with an expected production capacity of 69 million barrels of oil equivalent.
1
The first-half 2015 sales figure used for like-for-like comparisons corresponds to sales at constant non-ferrous metal prices adjusted for the effects of exchange rates and changes in the scope of consolidation. The currency effect on sales at constant non-ferrous metal prices amounted to a negative 88 million euros and changes in the scope of consolidation had a negative
24 million euro impact.
2
The second-quarter 2015 sales figure used for like-for-like comparisons corresponds to sales at constant non-ferrous metal prices adjusted for the effects of exchange rates and changes in the scope of consolidation. The currency effect on sales at constant non-ferrous metal prices amounted to -48 million euros and changes in the scope of consolidation had a -13 million euro impact.
3
EBITDA is defined as operating margin before tax, depreciation and amortization.
Nexans 2016 First-Half Results- page 1/12
The Group was also successful in the telecommunications sector during the first half of
