Nexans: revises FY targets
(CercleFinance.com) - Nexans now expects flat sales in organic terms in 2018, with a consolidated EBITDA that could reach 350 million euros, compared with 411 million euros in 2017, taking into account the recent deterioration of the outlook for high-voltage projects for the second half of the year.
For the first half of 2018, the cable manufacturer anticipates a slight decline in sales, with an EBITDA of 150 million euros. It has already started to take corrective action to offset the negative impact of the fall in sales in 2018.
In addition, Nexans has decided on a share buyback program of up to 500,000 shares, particularly to reduce its share capital in order to limit the future dilutive impact of the current capital increase as part of the employee shareholding plan.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
For the first half of 2018, the cable manufacturer anticipates a slight decline in sales, with an EBITDA of 150 million euros. It has already started to take corrective action to offset the negative impact of the fall in sales in 2018.
In addition, Nexans has decided on a share buyback program of up to 500,000 shares, particularly to reduce its share capital in order to limit the future dilutive impact of the current capital increase as part of the employee shareholding plan.
Copyright (c) 2018 CercleFinance.com. All rights reserved.