Nexans: returns to profit in H1
(CercleFinance.com) - Nexans has reported H1 2021 sales of 3,112 million euros at standard metal prices, representing an organic increase of 12% against H1 2020, reflecting both demand and a favourable price/mix management.
The group says it has benefited from sound commercial momentum and maintained selective growth within its businesses to reinforce the strength of its order book for the year and beyond.
Against this backdrop, Nexans' H1 EBITDA came in at 222 million euros, up 37% y-o-y. Nexans thus recorded net profit of 81 million euros over the period, a far cry from the 55 million euros loss in H1 2020.
The Group also says that it is well on track to complete its "New Nexans" transformation plan, having exceeded expectations in H1 2021.
As such, Nexans has raised its outlook for 2021, now expecting 2021 EBITDA of 430 to 460 million euros (vs. 410 to 450 million euros previously), FCF of 100 to 150 million euros (before mergers, acquisitions and capital operations), and ROCE of 13% to 15% (vs. 12.5% to 14.5% previously).
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