+6% organic growth and strong financial performance led by
Electrification businesses in H1 2024
2024 guidance upgraded
_PRESS RELEASE_
"
"
"
"
"
"
"
"
"
H1 2024 standard sales of ¬3.5 billion (current sales of ¬4.2 billion), up +6.1% organically and Q2 2024 standard sales of ¬1.9 billion, up +9.4% organically
Acceleration in Electrification businesses, up +14.1% organically in H1 2024, thanks to continued focus on value-added solutions
Record adj. EBITDA of ¬412 million, up +16.4% year-on-year, adj. EBITDA margin at 11.6%
up +96bps
Robust Normalized FCF at ¬189 million, reflecting strong operational performance
Balance sheet strengthened with two successful bond issuances
Completion of the La Triveneta Cavi's acquisition, enhancing European footprint and product offerings
Halden subsea high-voltage plant's extended capacity now operational, bolstering leadership in high-voltage solutions
Full-year 2024 guidance upgraded, boosted by robust performance and integration of
La Triveneta Cavi o Adjusted EBITDA of between ¬750 and ¬800 million ( ¬670 - ¬730 million previously)
o Normalized Free Cash Flow of between ¬275 and ¬375 million ( ¬200 - ¬300 million previously)
Capital Markets Day to be held on November 13, 2024 in London, and US investors day on
November 20, 2024 in New York City
~~~
Paris, July 24, 2024 Today, Nexans, a global leader in the design and manufacturing of cable systems to power the world, published its financial statements for the first-half of 2024, as approved by the Board of Directors at its meeting on July 23, 2024 chaired by Jean Mouton. Commenting on the
Group's performance, Christopher Guérin, Nexans' Chief Executive Officer, said:
The record profitability we have achieved in the first half of 2024 evidences our value growth focus and the strategic direction we have set for Nexans. We have seen robust growth across our
Electrification segments, particularly in Generation & Transmission where the strategic expansion of our Halden plant in Norway has already begun to yield benefits.
The successful finalization of the acquisition of La Triveneta Cavi in Italy early June marks a significant milestone in our journey. This strategic move expands our Usage capabilities and reinforces our commitment to providing comprehensive, high-quality solutions to our customers globally.
Innovation continues to be a driving force behind our success, and our pioneering work, such as the superconducting fault current limiter developed with SNCF Réseau, exemplifies our dedication to
