Nexans

News aus der Elektroindustrie

Nexans has sold its Berk-Tek division, a leading cable manufacturer...

Nexans has sold its Berk-Tek division, a leading cable manufacturer in the United States (factories in Pennsylvania and North Carolina) to Leviton; one of the best known manufacturers in the lighting and cable sector in the US.

Nexans received USD 202 m (EUR 177 m); last year Berk-Tek had sales of USD 163 m (EUR 143 m).

Both companies have been working closely together since 2013, so this merger is now the logical consequence.

A final OK by the competition watchdog is expected in the 3rd quarter of this year.

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04
May

Nexans achieved sales of 1,538 m EUR in the first quarter of 2018, based on current metal prices (minus 2% compared to the previous year).

Nexans achieved sales of 1,538 m EUR in the first quarter of 2018, based on current metal prices (minus 2% compared to the previous year).

Calculated with constant metal prices, sales amount to 1,028 m EUR (down 9.6% on the previous year).

Arnaud Poupart-Lafarge, the CEO comments on the results as follows:
Cable activities have now picked up pace after a disappointing start to 2018, pointing to a gradual improvement as the year goes on.Also during the first three months of the year, under our new organizational structure, we have started to implement our "Paced for Growth" strategic plan, whose targets are confirmed.
 

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Nexans's strategy for 2018-2022 is focused  on growth.

Nexans's strategy for 2018-2022 is focused  on growth.

The latest strategic plan 2015-2017 "Nexans in motion " delivered the expected results. The ROCE has doubled from 5.5% to over 11% in 3 years, despite the various global crises.
But new societal challenges also create opportunities such as the energy transition, eco-mobility and data transmission.

By 2022, Nexans is seeking to increase its revenue from its current operations by 25%, to increase EBITDA by ~ 50% to ~ EUR 600 m, and ROCE of more than 15%.

With a healthy balance sheet, this should enable sales of EUR 1.5 to 2 bn.
 

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