Nexans: cuts net loss in H1
(CercleFinance.com) - Nexans has announced a net loss (group share) of 55 million euros for the first half of 2020, compared to a loss of 116 million euros a year ago, despite an estimated negative impact of 75 million euros due to Covid-19 in 2020.
The cable manufacturer's EBITDA amounted to 162 million euros, representing a margin of 5.6% (compared to 6% in the first half of 2019) for sales at constant metal prices of 2,895 million euros, i.e. an organic contraction of 9.8%.
Nexans has reintroduced its outlook for 2020, i.e. EBITDA of between 310-370 million euros, positive free cash flow generation and a pre-tax return on capital employed (ROCE) of between 7% and 10%.
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