Nexans: sales up 6.1% to E1,623m
(CercleFinance.com) - Today Nexans published its Q1 2022 results.
Standard sales amounted to 1,623 million euros, up +6.1% organically y-o-y and up 16.3% organically excluding metallurgy, reflecting an acceleration in global electrification trends.
Demand drove strong backlog growth (+19% y-o-y), with an adjusted backlog of 2.4 billion euros for the Generation and Transmission segment.
S&P upgraded its rating for the group to BB+, confirming the group's successful transformation.
"We started the year with exceptionally strong momentum, directly resulting from the implementation of our new strategy combining smart growth (value driven) with our strategic customers and the deployment of our very successful transformation programs, SHIFT and Amplify. We are therefore confident about achieving our 2022 financial guidance", Nexans said.
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