Nexans: updates FY 2020 outlook
(CercleFinance.com) - Nexans has announced Q3 2020 sales of 1,407 million euros at constant metal prices, representing organic growth of +5.
6% compared with Q2 2020 and -9.8% y-o-y.
Sales of its Cable business totalled 1,249 million euros at constant metal prices in Q3 2020, representing organic growth of 9.1% compared Q2 2020 and -8.4% y-o-y.
Its adjusted order backlog reached 1.5 billion euros in the submarine High Voltage business, with visibility exceeding 18 months.
Q3 revenue reported a significant rebound in the Cable business (compared with Q2 2020), with most markets recording a recovery in demand.
Nexans has updated its annual outlook for 2020, having tighted its target range: the group expects EBITDA of 320-360 million euros (vs. 310-370 million euros previously).
Copyright (c) 2020 CercleFinance.com. All rights reserved.
6% compared with Q2 2020 and -9.8% y-o-y.
Sales of its Cable business totalled 1,249 million euros at constant metal prices in Q3 2020, representing organic growth of 9.1% compared Q2 2020 and -8.4% y-o-y.
Its adjusted order backlog reached 1.5 billion euros in the submarine High Voltage business, with visibility exceeding 18 months.
Q3 revenue reported a significant rebound in the Cable business (compared with Q2 2020), with most markets recording a recovery in demand.
Nexans has updated its annual outlook for 2020, having tighted its target range: the group expects EBITDA of 320-360 million euros (vs. 310-370 million euros previously).
Copyright (c) 2020 CercleFinance.com. All rights reserved.