Press release, Paris, France 5th November 2020
Q3 2020 Financial Information
Turning Adversity into Opportunity
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Solid rebound in Cable businesses and sound execution in High Voltage
Fully operational units, despite lockdowns, to support solid backlog across all businesses
Updated 2020 Guidance1: narrowed EBITDA range to between 320 and 360 million euro, improved Return on Capital Employed (ROCE) and enhanced Free Cash Flow (FCF)
Standard sales of 1,407 million euros in third-quarter 2020, representing organic growth of +5.6% against second-quarter 2020 and -9.8% year-on-year
Cable activity standard sales of 1,249 million euros in third-quarter 2020, representing organic growth of +9.1% against second-quarter 2020 and -8.4% year-on-year
Fully loaded High Voltage Subsea adjusted backlog of 1.5 billion euro2 with visibility beyond 18 months
Paris La Défense, November 5, 2020 Today, Nexans announced its sales figures for the third quarter of 2020. Commenting on the Group's performance, Christopher Guérin, Nexans' Chief
Executive Officer, said: In the midst of adversity, Nexans is demonstrating its ability to accelerate its transformation, further strengthen its resilience, improve cash generation and maintain a healthy financial structure such that, today, we are able to confirm or improve our full-year 2020 guidance. In the third quarter, our businesses held up well, as we effectively executed our strategy, despite the growing impact of the pandemic. We are fully committed to the health and safety of our people and to providing the best services and solutions to our key customers, globally. Also, we confirm Nexans Capital Markets Day, to be held as previously announced, on February 17, 2021. On that occasion, we will further elaborate on the exciting new steps of our strategy.
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2020 Guidance as of 2020 HY Results: EBITDA between 310 and 370 million euro, ROCE between 7% and 10%, and FCF positive
Adjusted subsea backlog at end of September 2020 including contracts secured not yet enforced
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CONSOLIDATED SALES BY SEGMENT
Revenues
(in millions of euros)
