PRESS RELEASE
2017 FIRST-HALF RESULTS
ð· Organic sales growth1 of 2.4%2 driven by a strong increase in submarine highvoltage operations (c. 40%) and despite a 32% decline for Oil & Gas sector activities3)
ð· Operating margin of 140 million euros, stable versus first-half 2016 (135 million euros) but up 36% on the second half of 2016 (107 million euros)
ð· Net income before tax of 126 million euros, up by 80 million euros of which
65 million euros resulting from the core exposure effect. Net income of
92 million euros versus 29 million euros in first-half 2016
ð· Net debt of 423 million euros (373 million euros at June 30, 2016)
ð· Dividend payment (22 million euros), share buybacks (11 million euros) and acquisitions (12 million euros) in the first half of 2017
Paris La Défense, July 27, 2017 Today, Nexans published its financial statements for the six months ended June 30, 2017, as examined by the Board of Directors at its meeting chaired by Georges Chodron de Courcel on July 26, 2017.
Numerous successes in the Group's various business sectors
The first half of 2017 saw a number of successes for the Group's various business sectors.
For example, Nexans reaffirmed its commitment to the transition to clean energy via a
100 million euro contract it was awarded by the transmission system operator, TenneT,
as part of the DolWin6 offshore wind farm project in the North Sea. Under this contract,
Nexans will supply high-voltage cables capable of carrying a maximum output of
900 MW in order to provide the offshore direct-current link for the wind farm, which is scheduled for completion in 2023. Another example of the Group's work in the area of renewable energy is the expertise and solutions it is providing for Fosen Vind
Europe's largest onshore wind power project, based in Norway which will ultimately double Norway's wind power generation capacity and provide green energy to thousands of Norwegian households.
1
Organic growth is defined as the difference between (i) standard sales for the current period of the current year (year Y)
calculated at constant non-ferrous metal prices, and (ii) standard sales for the same period of the previous year (year Y-1),
calculated at constant non-ferrous metal prices and applying the exchange rates prevailing in year Y and based on the year Y
scope of consolidation.
2
The first-half 2017 sales figure used for like-for-like comparisons corresponds to sales at constant non-ferrous metal prices adjusted for the effects of exchange rates and changes in the scope of consolidation. Exchange rates and changes in the scope of consolidation impacted sales at constant non-ferrous metal prices by a positive 37 million euros and a negative 34 million euros respectively.
3
Sales for Oil & Gas sector activities were estimated by aggregating (i) sales of cables for oil and gas exploration, (ii) sales of umbilical cables, and (iii) sales generated by Asian shipyard activities.
Nexans 2017 First-Half Results - Page 1/13
In the area of resources, BP renewed its trust in Nexans in first-half 2017 by signing a
5-year global framework agreement covering the engineering, procurement and
