Nexans: Q1 sales flat in comparable terms
(CercleFinance.com) - Nexans has posted Q1 2020 sales of 1,569 million euros at constant metal prices, with organic growth of -0.
1% on a comparable basis, which is of course in the unprecedented context of the Covid-19 pandemic, it said.
During this crisis, the cable manufacturer says that it has taken strong measures to significantly reduce its working capital requirement and preserve its cash flow. Non-core investments will be minimised.
Nexans says that it has suspended its forecasts for 2020, which it says will be updated when the situation becomes clearer, and that its board of directors has decided not to propose a dividend payment for 2019 at its next general shareholder meeting.
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