PRESS RELEASE
2017 FULL-YEAR RESULTS
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Nexans in Motion plan completed after a third year of progress
Organic growth1 of 5.1%2 driven by submarine high-voltage operations
Operating margin of 272 million euros, reflecting a 30 million growth
(+16% at constant FX and scope)
Operating cash flow of 277 million euros, up 53 million euros versus 2016
Attributable net income of 125 million euros versus 61 million euros in 2016
Net debt of 332 million euros, an increase of 121 million euros after share buybacks and dividends (34 million euros) and acquisitions (22 million euros);
leverage ratio (EBITDA/net debt) of 0.9 versus 0.8 at end-2016
Recommended dividend of 0.7 euro per share versus 0.5 euro in 2016
Paris, February 15, 2018 Today, Nexans published its financial statements for the year ended December 31, 2017, as approved by the Board of Directors at its
February 14, 2018 meeting chaired by Georges Chodron de Courcel.
I - Overview of 2017
Organic growth accelerated to 8.2% in the second half of the year from 2.4% in the first half, despite slowdowns in businesses in South America and in Oil & Gas business in
Asia.
Growth was led by a strong 45% increase in sales by the submarine high-voltage business, continuing a trend that was also a feature of first half performance, and by a second half recovery in cable sales to the building industry and energy operators.
In this environment, the performances of the project-based businesses helped to drive a 30 million euro increase in the Group's consolidated operating margin (to
272 million euros in 2017 from 242 million euros in 2016) and a 36 million euro increase in EBITDA3 (to 411 million euros from 375 million euros).
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 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 negatively impacted sales at constant non-ferrous metal prices by 26 million euros and 57 million euros respectively.
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