(Boursier.com) — Nexans camped on 91 euros this Friday, while the standard turnover stood at 6.5 billion euros in 2023, the current turnover standing at 7.8 billion euros, with an increase profitability and excellent cash generation. Nexans has thus achieved all of its objectives, set out last July, confirming once again this year the scale of its transformation… Adjusted EBITDA (record) climbs to 665 million euros (+8% compared to 2022) and the adjusted EBITDA margin is 10.2%. EBITDA including share-based payments was €652 million above the target. The priority remains on value-added solutions (SHIFT Prime) generating +20 million euros of additional EBITDA in Electrification activities…
Dividend up 10%
Normalized free cash flow stood at €454 million, reflecting strict management of working capital requirements and the increase in the adjusted order book for the Power Generation & Transmission business.
Management highlights the maintenance of a solid balance sheet with a net debt of 214 million euros and a leverage ratio of 0.4x. The group is proposing a 10% increase in the dividend to 2.30 euros per share.
The 2024 guidance announced involves an adjusted EBITDA of between 670 and 730 million euros and a normalized free cash flow of between 200 and 300 million euros. Among brokers’ opinions, JP Morgan is ‘neutral’ on Nexans with an adjusted target of 89 to 96 euros.
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