9M 2023 PAVING THE WAY FOR ROBUST PERFORMANCE
2023 GUIDANCE CONFIRMED
_PRESS RELEASE_
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Standard sales of 4,921 million euros in the first nine months of 2023, +3.4% organically year-on-year excluding Other Activities
Generation & Transmission upturn, up +17.8% organically in the third quarter of 2023
Strategic investment in a third cable-laying vessel to address robust demand; Halden plant expansion progressing well
Distribution & Usage reaping rewards of structural improvements as a result of SHIFT and
Amplify transformation platforms
2023 guidance confirmed o EBITDA between 610 and 650 million euros o Normalized Free Cash Flow of between 220 and 300 million euros
Canada and France metallurgy facilities awarded the Copper Mark label for responsible copper production
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Paris, October 25th, 2023 Today, Nexans announced its financial information for the third quarter of
2023. Commenting on the Group's highlights, Christopher Guérin, Nexans' Chief Executive Officer,
said: In the face of geopolitical and economic uncertainty, we are committed to maintaining and improving our performance and we confirm our full-year guidance, which we upgraded last July.
In the third quarter, Generation & Transmission segment grew organically by +17.8%, marked by an upturn in our Charleston unit, which is now fully ramped up. In order to bolster our installation capabilities, we have decided to invest in a new ultra-modern, technologically advanced, cable-laying vessel, expected to be operational by 2026. In the meantime, the Halden plant's expansion in Norway is on-track for completion in early 2024.
Distribution, up +2.9% organically compared to the first nine months of 2022, benefitted from growing investments in renewable energy projects and expanding investments in power grids to support urbanization and renovation trends, particularly in Europe and North America.
Usage sales amounted to 1,286 million euros, down -6.1% organically compared with the first nine months of 2022 reflecting the anticipated normalization in North America, while Non-electrification sales were up +17.7% in the first nine months of the year, supported by continued momentum in
Automation, Mining, and Automotive Harnesses.
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CONSOLIDATED SALES BY SEGMENT
9M 20221
