Nexans : Update preview – Focus on earnings rather than the top line - CMD postponed – Buy (vs Neutral) - target price € 54 (vs € 44)
>Full-year targets likely to be confirmed - Sales still forecast down unsurprisingly. After an organic decline of around 10% in H1, we expect a further decline in business in H2. The group will continue to be penalised by the building (50% of the B&T division), T&D (8% of turnover), and industrial activities, which represent 60% of the I&S division (the harnesses activity dedicated to the automotive sector confirms a pick-up in business), and also by the High Voltage ...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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