Nexans reported a weak start to the year, including a 4.6% organic sales decline driven by HV Cables. The decline was also due to the IFRS implementation and the context of a challenging comparison basis. H2 18 should be better for HV Submarine and the order books point toward a gradual improvement. We consider a lack of visibility should prevail in the following months, due to management change, while the 2018 guidance (according to the strategic plan) now looks more challenging.
04 May 2018
Dead money for a while?
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Dead money for a while?
Nexans SA (NEX:PAR) | 0 0 0.3% | Mkt Cap: 1,953m
- Published:
04 May 2018 -
Author:
Lionel Pellicer -
Pages:
3
Nexans reported a weak start to the year, including a 4.6% organic sales decline driven by HV Cables. The decline was also due to the IFRS implementation and the context of a challenging comparison basis. H2 18 should be better for HV Submarine and the order books point toward a gradual improvement. We consider a lack of visibility should prevail in the following months, due to management change, while the 2018 guidance (according to the strategic plan) now looks more challenging.