Nexans : Pretty resilient results – new target price of € 44 (vs € 35)
>Half-yearly earnings outpace our expectations excluding one-offs - Nexans’ H1 2020 results beat our forecasts and those of the consensus. Sales at constant non-ferrous metals prices came in at € 2.895bn (€ 2.9757bn estimated, € 2.865 for the consensus) vs € 3.271bn, down 11.5% and 9.8% on an organic basis. This reflects a sharp decline in sales in Q2 (-14.7% organic) compared to Q1 (-0.1%). EBITDA came in at € 162m (€ 150.8m estimated, € 152m for consensus) vs € 195m...Nexans offers cables and cabling systems for the Infrastructure, Industry, Building and Local Area Network markets. Co.'s offering covers the research, design, manufacturing, installation, training, and network supervision and control. Co. operates under three segments: Energy (power cables for energy infrastructures, special cables for industry, and equipment cables for the building market), Telecom (cables for private telecommunications networks, junction components for telecommunications network cables, and copper and optical fiber cables for public telecommunications networks) and Electrical wires (wirerods, electrical wires and winding wires production operations).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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