(Boursier.com) — Nexans fell 0.6% to 97.15 euros on Friday, while in the first half, the financial performance of all activities reached record levels… EBITDA was thus up 38% compared to the same period of 2021. Electrification activities contributed 97% of the EBITDA increase compared to the same period of the previous year, with a comparable distribution between structural and cyclical effects, and the acquisition of Centelsa . EBITDA margin increased by +190 basis points compared to the first half of 2021 to reach 9.1% (vs. 7.1%) thanks to SHIFT and Amplify in the Applications business and new capacities in the Generation segment. energy and Transmission.
ROCE stood at 17.4%, compared to 14.2% in June 2021.
Normalized free cash flow generation reached 104 million euros, thanks to the high EBITDA and despite a negative change in working capital due in part to the rise in the price of copper.
Nexans raises its guidance for the 2022 financial year
The group is now targeting an EBITDA range between 560 and 590 million euros (previously between 500 and 540 million euros) and normalized free cash flow generation between 200 and 250 million euros (previously between 150 and 200 million euros).
Among the latest brokers’ opinions, JPMorgan is now targeting a price of 83 euros, Oddo BHF has revalued the file from 90 to 95 euros while remaining ‘neutral’, while SG has adjusted the title to ‘keep’, while raising its target price of 90 to 100 euros. Morgan Stanley had previously raised its price target to 89 euros on the cable…
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