Nexans
NEX
ISIN FR0000044448 / Valor 1242479
Nexans
UMushroom community rating:
About company
Nexans is a global player in the cable and optical fiber industry, focusing on the design, manufacture, and distribution of products that are essential for the development and operation of electrical grids and telecommunications networks. The company has recently been involved in significant projects that underscore its expertise and capacity in the field. For instance, it has been selected by a leading Italian utility to deliver a comprehensive suite of low- and medium-voltage underground cables, emphasizing its commitment to sustainability by using 100% low-carbon aluminum in the production process at its Italian factory in Battipaglia. Additionally, Nexans has secured a first call-off under a 2GW TenneT framework agreement, involving the engineering, procurement, construction, and installation (EPCI) of high-voltage direct current (HVDC) cables for offshore grid connection systems, BalWin3 and LanWin4, which will transmit a total of 4 Gigawatts of offshore wind energy to Germany. The company is also engaged in the RENOV research project, aiming to develop innovative recycling solutions for cross-linked industrial plastics used in power cables and accessories, highlighting its involvement in advancing sustainable manufacturing practices within its industry sector.
Summarized from source with an LLMView SourceSector: TechnologyLatest Results (04.04.2026):
Nexans — Q4 2025 / FY 2025: The group delivered a strong set of results for fiscal year 2025 (with particularly high momentum in Q4 2025). FY 2025 standard sales were €6.10bn (current prices €7.81bn) with organic growth of +8.3% (Q4 organic +11.8%). Adjusted EBITDA rose to €728m (+27.3%) with a margin of 11.9% of standard sales. Free cash flow was €344m, net debt fell to €266m and the Board will propose a €2.90 dividend per share. The company has reclassified its Industry & Solutions businesses as discontinued operations (IFRS 5) and is in exclusive talks to sell Autoelectric as part of its portfolio rotation.
Top‑line & growth
FY 2025 sales at standard metal prices: €6,098m (+10.1% vs. 2024) with organic growth +8.3%; Q4 2025 standard sales €1.6bn and organic growth +11.8%. Strong outperformance driven by PWR‑Transmission (very high growth) while PWR‑Grid and PWR‑Connect were in line with mid‑term guidance.
Profitability
Adjusted EBITDA €728m (+27.3% y/y); adjusted EBITDA margin 11.9% of standard sales (+161 bps). Net income from continuing operations €219m (+31.1%); Group net income €358m (+26.6%). Basic EPS €8.08 (+26.4%).
Cash, leverage & balance sheet
Free cash flow €344m (vs €177m in 2024), cash conversion 47.3%. Net debt €266m (down €415m year‑on‑year) and leverage 0.36x (trailing adjusted EBITDA). Debt profile diversified with no maturities before 2027.
Capital allocation & shareholder returns
Board proposes dividend €2.90 per share for FY 2025 (+11.5% vs 2024), payout ratio ~41.9%. Continued investment: capex €383m (6.3% of standard sales) focused on PWR‑Transmission assets.
Portfolio rotation & M&A
Industry & Solutions (Amercable, Lynxeo, Autoelectric) classified as discontinued ops under IFRS 5; exclusive negotiations announced for sale of Autoelectric (expected closing mid‑2026). Two targeted acquisitions in 2025 (RCT Cables, Electro Cables); Nexans signals stepped‑up M&A as a growth lever.
2026 guidance
Full‑year 2026 guidance for continuing operations: adjusted EBITDA €730–810m and free cash flow €210–310m. Management expects H1 2026 to be softer than H2; guidance excludes the Great Sea Interconnector execution and not‑completed acquisitions.
Sustainability & operational metrics
Progress on E3 model: recycled copper content 19.3% (toward 2028 target 25%). GHG reductions ahead of interim targets: −49% (Scope 1&2) and −40% (Scope 3). ROCE 21.3% (up 330bps).
Accounting note
IFRS 5 reclassification: Industry & Solutions businesses are shown as discontinued operations in both 2025 and 2024 comparatives — FY 2025 guidance and continuing‑ops metrics exclude these discontinued activities. Refer to Nexans’ appendices for full details.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
7037 M
Market cap (USD)
155,302
Daily traded volume (Shares)
104.8 / 102.9
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
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Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
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EPS (USD)
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Ratings & reviews
Andreas Kienast
Andreas Kienast
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