Nexans: 2% organic sales growth in Q3
(CercleFinance.com) - Nexans announces Q3 2018 sales of 1,613 million euros, against 1,544 million euros in Q3 2017.
At constant metal prices, organic growth reached 1.9% (+6.1% excluding the high voltage segment and projects).
While high-voltage activities and projects fell by 16%, particularly due to the postponement of contracts and awards in H1, the group announced significant organic growth for building cables (+11.5%).
In this context, the cable manufacturer expects operating profit of around 185 million euros over FY 2018, corresponding to an EBITDA of approximately 325 million euros.
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At constant metal prices, organic growth reached 1.9% (+6.1% excluding the high voltage segment and projects).
While high-voltage activities and projects fell by 16%, particularly due to the postponement of contracts and awards in H1, the group announced significant organic growth for building cables (+11.5%).
In this context, the cable manufacturer expects operating profit of around 185 million euros over FY 2018, corresponding to an EBITDA of approximately 325 million euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.