Quarterly Comment: NEXANS
​Nexans, the French manufacturer of electrical cables, has published mixed 2H16 results with organic sales down c. 2.5-3% yoy to €2.15bn (at constant metal price). As expected, the industry segment (representing 26% of sales) continued to weigh on results due to weak shipbuilding and O&G activities. Following an exceptionally strong first semester, the D&I’s performance (25% of sales) was soft with organic sales down 3% as deliveries of LAN cables normalized, and building in Europe further declined. More...
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