Nexans 2020 Full Year Results

CEW Nexans logo 400

Feb 23, 2021

Nexans published its financial statements for the year ended December 31, 2020, as approved by the Board of Directors at its February 16, 2021 meeting chaired by Jean Mouton.

In full-year 2020:

Resilient standard sales[1] of 5,713 million euros, down by -8.6% organically[2]

Steady EBITDA[3] of 347 million euros reflecting successful Group transformation, EBITDA rate of 6.1% in 2020 against 6.4% in 2019

Outperformance in ROCE[4] at 10.2% end of December 2020

Strong turnaround in net income of 80 million euros, including a negative 102 million euros of estimated Covid-19 impact[5] and the positive gains on divestments for 142 million euros (107 million euros net of tax), compared to a net loss of -118 million euros in 2019

Outstanding Free Cash Flow[6] of 157 million euros, exceeding expectations and reflecting new Group norm of strict working capital management and cash generation focus

A 10-year low net debt of 179 million euros at December 31, 2020, demonstrating Nexans’ commitment to maintaining sound liquidity and improving cash conversion

Cable laying vessel Aurora and US High-Voltage cable plant Charleston operational mid-2021

Proposed dividend of 0.70 euro per share

Nexans has successfully anchored its transformation by unlocking value and setting a strong financial footing across the Group.

  • 2021 EBITDA outlook between 410 and 450 million euros
  • Best-in-class operating working capital, structural improvement at 5% of current sales in December 2020
  • Early repayment of French State backed 280 million euros term loan (“PGE”) and 250 million euros 2021 Bond
  • Nexans steered for growth, will host a historical Virtual Capital Market Day at 14.00 CET

Go HERE for more information

Related Articles

Changing Scene

  • Nominations Open for BCEA Awards

    Nominations Open for BCEA Awards

    The purpose of this award is to recognize projects that have demonstrated design and/or construction excellence, energy efficient buildings, or new uses of technology.  It is not intended that the project size (financial or dimensional) be a significant criteria for selection of the award winner.  The governing criteria for award selection should. Read More…

  • BCCA’s Apprenticeship Services Project hits $10M Milestone

    BCCA’s Apprenticeship Services Project hits $10M Milestone

    The British Columbia Construction Association (BCCA) announced today that it has now issued $10M in financial incentives to small and medium-sized construction industry employers through its Apprenticeship Services project, with $4M more still available to applicants. The project provides employer participants with cash incentives to hire and register first-year apprentices in up to 39 Red… Read More…

Peers & Profiles

  • Graybar Canada’s Customer Appreciation BBQ’s

    Graybar Canada’s Customer Appreciation BBQ’s

    Taken from Graybar Canada Linkedin Post Enjoy a glimpse of the wonderful moments from Graybar Canada’s recent customer appreciation BBQs! The company was grateful for the smiles and connections made with our amazing customers and vendors. They are looking forward to the next gathering! Source Read More…

  • Electrozad Chatham Kent Branch Exceptional Effort Cleans Up Community

    Electrozad Chatham Kent Branch Exceptional Effort Cleans Up Community

    Article taken from Linkedin Post Electrozad is thrilled to spotlight their Chatham Branch and recognize their exceptional efforts in cleaning up their community. The team took time to coordinate a community clean-up around their branch. This is a commendable initiative that not only helps maintain the cleanliness and hygiene around the branch but also contributes… Read More…

Copper US Dollar Price Per Pound