Ankündigung • Aug 01
Nexans S.A. to Report Fiscal Year 2026 Results on Feb 24, 2027 Nexans S.A. announced that they will report fiscal year 2026 results on Feb 24, 2027 Reported Earnings • Jul 30
First half 2026 earnings released: EPS: €2.75 (vs €3.24 in 1H 2025) First half 2026 results: EPS: €2.75 (down from €3.24 in 1H 2025). Revenue: €4.74b (up 19% from 1H 2025). Net income: €120.0m (down 15% from 1H 2025). Profit margin: 2.5% (down from 3.5% in 1H 2025). Revenue is expected to decline by 4.0% p.a. on average during the next 3 years, while revenues in the Electrical industry in the United Kingdom are expected to grow by 23%. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Jul 07
Now 23% undervalued Over the last 90 days, the stock has risen 6.0% to €134. The fair value is estimated to be €173, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to decline by 0.8% per annum. Earnings are forecast to grow by 25% per annum over the same time period. Buy Or Sell Opportunity • Jun 15
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 26% to €148. The fair value is estimated to be €122, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to decline by 0.4% per annum. Earnings are forecast to grow by 25% per annum over the same time period. Ankündigung • Jun 03
Nexans S.A. (ENXTPA:NEX) completed the acquisition of Republic Wire, Inc. from a family. Nexans S.A. (ENXTPA:NEX) signed an agreement to acquire Republic Wire, Inc. from a family for €680 million on April 27, 2026. The transaction represents a total enterprise value of €680 million, with a further earn-out of up to €43 million potentially payable in 2028 based on performance through year end 2027. The transaction will be financed through a combination of debt and existing cash on balance sheet.
Over the 12 month period through February 2026, Republic Wire generated €520 million in current revenue. The current management team, led by Ron and Jeremy Rosenbeck, is remaining in place and will continue to drive the business performance. Following completion, Republic Wire's experienced management team will continue to lead the business. Nexans expects to maintain Republic Wire's operations at its existing Ohio facilities.
The transaction is expected to close early in the third quarter of 2026, subject to applicable regulatory approvals and other customary closing conditions. The transaction is expected to be immediately EPS accretive before synergies.
PJT Partners LP acted as financial advisor for Nexans S.A. Kimberly Petillo-Dcossard, Mark Gidley, Heather Greenfield of Joseph Rosati White & Case LLP acted as legal advisor for Nexans S.A. Jeremy Hayden, Ben Helwig, Ralph Caruso, Ben Hager of Taft Stettinius & Hollister LLP acted as a Legal advisor and Deloitte Corporate Finance LLC acted as a financial advisor for Republic Wire, Inc. 3CRE served as real estate adviser to Republic Wire, Inc.
Nexans S.A. (ENXTPA:NEX) completed the acquisition of Republic Wire, Inc. from a family on June 1, 2026. Ankündigung • May 23
Nexans S.A. Announces Appointment of Independent Directors Nexans S.A. at Annual Shareholders' Meeting, held on May 21, 2026, approved appointment of Antonio Cammisecra and Thierry Fournier as independent Directors. Upcoming Dividend • May 18
Upcoming dividend of €2.90 per share Eligible shareholders must have bought the stock before 25 May 2026. Payment date: 27 May 2026. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of British dividend payers (5.8%). Higher than average of industry peers (1.1%). Ankündigung • May 17
Nexans Receives Clearance from US Federal Trade Commission for Republic Wire Acquisition Nexans announced that it has received notification from the Premerger Notification Office of the US Federal Trade Commission of early termination of the Hart-Scott-Rodino waiting period for its proposed acquisition of Republic Wire Inc. Early termination permits Nexans to proceed with the proposed acquisition of 100% of the share capital of Republic Wire Inc. Buy Or Sell Opportunity • May 11
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 19% to €167. The fair value is estimated to be €136, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to decline by 1.1% per annum. Earnings are forecast to grow by 18% per annum over the same time period. Valuation Update With 7 Day Price Move • Apr 30
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €158, the stock trades at a forward P/E ratio of 22x. Average trailing P/E is 22x in the Electrical industry in the United Kingdom. Total returns to shareholders of 125% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €126 per share. Ankündigung • Apr 29
Nexans S.A. (ENXTPA:NEX) signed an agreement to acquire Republic Wire, Inc. from a family for €680 million. Nexans S.A. (ENXTPA:NEX) signed an agreement to acquire Republic Wire, Inc. from a family for €680 million on April 27, 2026. The transaction represents a total enterprise value of €680 million, with a further earn-out of up to €43 million potentially payable in 2028 based on performance through year end 2027. The transaction will be financed through a combination of debt and existing cash on balance sheet.
Over the 12 month period through February 2026, Republic Wire generated €520 million in current revenue. The current management team, led by Ron and Jeremy Rosenbeck, is remaining in place and will continue to drive the business performance. Following completion, Republic Wire's experienced management team will continue to lead the business. Nexans expects to maintain Republic Wire's operations at its existing Ohio facilities.
The transaction is expected to close early in the third quarter of 2026, subject to applicable regulatory approvals and other customary closing conditions. The transaction is expected to be immediately EPS accretive before synergies.
PJT Partners LP acted as financial advisor for Nexans S.A. White & Case LLP acted as legal advisor for Nexans S.A. Buy Or Sell Opportunity • Apr 17
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to €139. The fair value is estimated to be €115, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to decline by 1.0% per annum. Earnings are forecast to grow by 18% per annum over the same time period. Ankündigung • Apr 07
Nexans S.A., Annual General Meeting, May 21, 2026 Nexans S.A., Annual General Meeting, May 21, 2026. Reported Earnings • Apr 06
Full year 2025 earnings released: EPS: €4.91 (vs €3.75 in FY 2024) Full year 2025 results: EPS: €4.91 (up from €3.75 in FY 2024). Revenue: €7.81b (up 13% from FY 2024). Net income: €214.0m (up 31% from FY 2024). Profit margin: 2.7% (up from 2.4% in FY 2024). Revenue is expected to decline by 1.1% p.a. on average during the next 3 years, while revenues in the Electrical industry in the United Kingdom are expected to grow by 19%. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 13% per year. Ankündigung • Feb 28
Nexans Announces Resignation of Oscar Hasbún Martínez as Director and Chairman of the Strategy and Sustainable Development Committee, Effective May 20, 2026 Nexans announced the resignation of Mr. Oscar Hasbún Martínez from his position as Director of Nexans, effective May 20, 2026. His resignation also entails the end of his duties as chairman of the Strategy and Sustainable Development Committee. This resignation comes in the context of the reduction of Invexans Limited's stake in Nexans' share capital. Mr. Hasbún Martínez has been serving as the chairman of the Strategy and Sustainable Development Committee since his appointment in May 2019. Declared Dividend • Feb 23
Dividend increased to €2.90 Dividend of €2.90 is 12% higher than last year. Ex-date: 25th May 2026 Payment date: 27th May 2026 Dividend yield will be 2.4%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (59% earnings payout ratio) and cash flows (27% cash payout ratio). The dividend has increased by an average of 22% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 63% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 22
Full year 2025 earnings released: EPS: €4.91 (vs €6.39 in FY 2024) Full year 2025 results: EPS: €4.91 (down from €6.39 in FY 2024). Revenue: €7.81b (down 8.6% from FY 2024). Net income: €214.0m (down 23% from FY 2024). Profit margin: 2.7% (down from 3.3% in FY 2024). Revenue is forecast to stay flat during the next 3 years compared to a 26% growth forecast for the Electrical industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Ankündigung • Feb 20
Nexans S.A. announces Annual dividend, payable on May 27, 2026 Nexans S.A. announced Annual dividend of EUR 2.9000 per share payable on May 27, 2026, ex-date on May 25, 2026 and record date on May 26, 2026. Ankündigung • Jan 22
Nexans Announces Resignation of José Francisco Pérez Mackenna as Director, Accounts, Audit and Risk Committee, the Appointments and Corporate Governance Committee, the Compensation Committee, and the Strategy and Sustainable Development Committee, Effective February 1, 2026 Nexans announced the resignation of Mr. José Francisco Pérez Mackenna from his position as Director of Nexans, effective February 1, 2026. His resignation also entails his departure from the Accounts, Audit and Risk Committee, the Appointments and Corporate Governance Committee, the Compensation Committee, and the Strategy and Sustainable Development Committee. Mr. Pérez Mackenna has informed Nexans that he has accepted an invitation to join the Government of the Republic of Chile as Minister of Foreign Affairs. Ankündigung • Jan 15
Nexans Announces A New Executive Committee Organization, Effective January 15, 2026 Nexans announced a new Executive Committee structure, effective January 15, 2026, comprised of 13 executive members. The new appointments include Nino Cusimano as Chief Legal Officer & Corporate Development Officer; Guillaume Eymery as Chief Strategy & Purchasing Officer; Séverine Grosjean as Chief Human Resources and ESG Officer; Vijay Mahadevan as Executive Managing Director Europe; Luis Ernesto Silva as Managing Director South America; Atilla Kurtis as Managing Director Middle East and Africa; Tim King as Managing Director North America; Vincent Dessale as Managing Director APAC; Pascal Radue as Senior Executive Vice President PWR-Transmission; Vincent Dessale as Chief Executive Markets & Commercial Officer; Elena Fedotova as Chief Business Development Officer Data center & Grid & Connect large projects; and Vijay Mahadevan (acting) as Chief Operations Officer. The new Executive Committee is designed to foster collective success, streamline industrial operations, and anchor a culture of excellence across the Group. Ankündigung • Dec 19
Nexans S.A. (ENXTPA:NEX) completed the acquisition of Electro Cables Inc. Nexans S.A. (ENXTPA:NEX) signature of an agreement to acquire Electro Cables Inc. on October 23, 2025. The acquisition will be fully financed in cash.
For the period ending July 31, 2025, Electro Cables Inc. reported total sales of €125 million.
The transaction is subject to Canadian regulatory approvals and satisfaction of other customary closing conditions. Closing of the transaction is expected to occur in first half of 2026.
Nexans S.A. (ENXTPA:NEX) completed the acquisition of Electro Cables Inc. on December 17, 2025. Ankündigung • Nov 26
Nexans Appoints Vincent Piquet as Chief Financial Officer, Effective January 19, 2026 Nexans announced the appointment of Vincent Piquet as Chief Financial Officer, effective January 19, 2026. He will join the Nexans Executive Committee and will be based in Paris. Vincent brings comprehensive experience across the full scope of the Finance function, spanning operational performance optimization, functional and strategic transformation, as well as substantial exposure to Board-level matters and investors relations. His career has taken him to ten countries, and into highly diverse businesses and organizations, often operating in volatile and fast-changing environments. Vincent joined the Renault Group in 2019 and currently serves as Chief Financial Officer of Ampere, Renault's subsidiary dedicated to electric vehicles and software. Previously, he worked at GE from 2000 to 2019, where he started in internal audit before being promoted successively to Chief Financial Officer of GE Healthcare EAGM (Istanbul), Managing Director of Global Operations for Europe (London), Global Chief Financial Officer of the Oil and Gas Division (London), and Chief Financial Officer of Turbo Machine and Process Solutions (Florence). Vincent is a graduate of ESCP Business School. Ankündigung • Oct 13
Nexans S.A. Announces Chief Executive Officer Changes Nexans S.A. announced that its Board of Directors has resolved to appoint Julien Hueber as the new Chief Executive Officer and to part ways with Christopher Guérin. These decisions will take effect immediately; Christopher will be available to Julien until October 31st, 2025. Julien Hueber, a 55-year-old French citizen, is the Executive Managing Director of PWR Grid & Connect Europe, a EUR 2.6 billion and 23 manufacturing plants business. Julien, a member of the Executive Committee since 2018, joined Nexans in 2002. He has solid experience in supply chain and purchasing, in-depth knowledge of the Asia-Pacific region, particularly China and South Korea, where he spent several years leading the Asia-Pacific region. He then took charge of the global "Industrial Cables – Industry Solutions & Projects" business. The Board determined that Julien Hueber’s experience, skills and personality made him the perfect candidate to lead the Company, notably his extensive knowledge of Nexans, recognized leadership, and strong track record in setting a vision, defining and driving the execution of the strategy and executing the roadmap. His appointment was warmly endorsed by the Board of Directors. The Board would like to express its deep gratitude to Christopher Guérin for his exceptional contribution to Nexans, and in particular during his 7 years as Chief Executive Officer. Beyond the strong financial results, Christopher has profoundly transformed Nexans into a focused leader in sustainable Electrification, giving meaning and direction to its mission. He has brought innovation, responsibility, and simplicity to the heart of the company, while restoring confidence across teams worldwide. His leadership and passion have left a lasting mark on the Group and its people. Buy Or Sell Opportunity • Sep 12
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 34% to €134. The fair value is estimated to be €111, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.7% over the last 3 years. Earnings per share has grown by 18%. For the next 3 years, revenue is forecast to decline by 3.3% per annum. Earnings are also forecast to decline by 3.9% per annum over the same time period. Buy Or Sell Opportunity • Aug 08
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 37% to €135. The fair value is estimated to be €112, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.7% over the last 3 years. Earnings per share has grown by 18%. For the next 3 years, revenue is forecast to decline by 3.2% per annum. Earnings are also forecast to decline by 4.9% per annum over the same time period. Reported Earnings • Aug 04
First half 2025 earnings released: EPS: €8.54 (vs €3.98 in 1H 2024) First half 2025 results: EPS: €8.54 (up from €3.98 in 1H 2024). Revenue: €4.70b (up 11% from 1H 2024). Net income: €372.0m (up 114% from 1H 2024). Profit margin: 7.9% (up from 4.1% in 1H 2024). Revenue is expected to decline by 3.4% p.a. on average during the next 3 years, while revenues in the Electrical industry in the United Kingdom are expected to grow by 17%. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. New Risk • Aug 01
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 6.0% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Jul 17
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 32% to €114. The fair value is estimated to be €94.36, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 6.9%. For the next 3 years, revenue is forecast to decline by 2.3% per annum. Earnings are forecast to grow by 8.9% per annum over the same time period. Ankündigung • Jul 01
Latour Capital Management SAS completed the acquisition of Lynxeo, Société Anonyme from Nexans S.A. (ENXTPA:NEX). Latour Capital Management SAS entered into exclusive negotiations to acquire Lynxeo, Société Anonyme from Nexans S.A. (ENXTPA:NEX) for an enterprise value of €525 million on March 17, 2025. The transaction has approved by the European Commission on May 13, 2025.
Rothschild Martin Maurel led by Nicolas Bonnault acted as financial advisor for Latour Capital Management SAS. Arthur de Baudry d' Asson, Nicolas Lovas, Charles Filleux-Pommerol and Camille Paulhac of Paul Hastings France acted as legal advisor for Latour Capital Management SAS. Weil, Gotshal & Manges LLP, Paris led by Jean-Christophe David acted as legal advisor for Latour Capital Management SAS. The Boston Consulting Group Et Cie led by Olivier Scalabre, Guillaume Vernier acted as due diligence provider for Latour Capital Management SAS. The Boston Consulting Group, Inc. led by Florian Kahn acted as due diligence provider for Latour Capital Management SAS. Interpath (France) SAS led by Florent Steck acted as due diligence provider for Latour Capital Management SAS.J.P. Morgan Securities Plc - Paris Branch acted as financial advisor for Nexans S.A. Bredin Prat & Associes acted as legal advisor for Nexans S.A. Romain Franzetti, Angélique Vibert, Pierre Bouley and Annaelle Lousquy of Berrylaw acted as legal advisor for Latour Capital Management SAS.
Latour Capital Management SAS completed the acquisition of Lynxeo, Société Anonyme from Nexans S.A. (ENXTPA:NEX) on June 30, 2025. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €111, the stock trades at a forward P/E ratio of 16x. Average trailing P/E is 15x in the Electrical industry in the United Kingdom. Total returns to shareholders of 57% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €124 per share. Ankündigung • Jun 03
Nexans S.A. (ENXTPA:NEX) acquired Cables RCT, S.A.U. Nexans S.A. (ENXTPA:NEX) acquired Cables RCT, S.A.U. on June 2, 2025. Cables RCT has generated revenue of €133 million in 2024. Cables RCT’s experienced management team will continue to drive future growth.
Nexans S.A. (ENXTPA:NEX) completed the acquisition of Cables RCT, S.A.U. on June 2, 2025. Ankündigung • May 14
Latour Capital Management SAS agreed to acquire Lynxeo, Société Anonyme from Nexans S.A. (ENXTPA:NEX). Latour Capital Management SAS agreed to acquire Lynxeo, Société Anonyme from Nexans S.A. (ENXTPA:NEX) on May 13, 2025. The transaction has approved by the European Commission. Upcoming Dividend • May 12
Upcoming dividend of €2.60 per share Eligible shareholders must have bought the stock before 19 May 2025. Payment date: 21 May 2025. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of British dividend payers (5.8%). Higher than average of industry peers (2.1%). Ankündigung • Apr 30
Nexans S.A. to Report First Half, 2025 Results on Jul 30, 2025 Nexans S.A. announced that they will report first half, 2025 results on Jul 30, 2025 Ankündigung • Apr 29
Nexans S.A. to Report Q1, 2025 Results on Apr 30, 2025 Nexans S.A. announced that they will report Q1, 2025 results at 7:00 AM, Central European Standard Time on Apr 30, 2025 Ankündigung • Apr 11
Nexans S.A. to Report Q3, 2025 Results on Oct 23, 2025 Nexans S.A. announced that they will report Q3, 2025 results on Oct 23, 2025 Ankündigung • Apr 04
Nexans S.A., Annual General Meeting, May 15, 2025 Nexans S.A., Annual General Meeting, May 15, 2025. Location: le vinci 4 allee de l arche, courbevoie France Declared Dividend • Apr 04
Dividend increased to €2.60 Dividend of €2.60 is 13% higher than last year. Ex-date: 19th May 2025 Payment date: 21st May 2025 Dividend yield will be 3.2%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is well covered by both earnings (41% earnings payout ratio) and cash flows (29% cash payout ratio). The dividend has increased by an average of 23% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Ankündigung • Apr 04
Nexans S.A. announces Annual dividend, payable on May 21, 2025 Nexans S.A. announced Annual dividend of EUR 2.6000 per share payable on May 21, 2025, ex-date on May 19, 2025 and record date on May 20, 2025. Reported Earnings • Mar 31
Full year 2024 earnings released: EPS: €6.39 (vs €5.07 in FY 2023) Full year 2024 results: EPS: €6.39 (up from €5.07 in FY 2023). Revenue: €8.55b (up 9.7% from FY 2023). Net income: €279.0m (up 26% from FY 2023). Profit margin: 3.3% (up from 2.8% in FY 2023). The increase in margin was driven by higher revenue. Revenue is expected to decline by 1.7% p.a. on average during the next 3 years, while revenues in the Electrical industry in the United Kingdom are expected to grow by 12%. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 3% per year. Reported Earnings • Feb 21
Full year 2024 earnings released: EPS: €6.39 (vs €5.07 in FY 2023) Full year 2024 results: EPS: €6.39 (up from €5.07 in FY 2023). Revenue: €8.55b (up 9.7% from FY 2023). Net income: €279.0m (up 26% from FY 2023). Profit margin: 3.3% (up from 2.8% in FY 2023). The increase in margin was driven by higher revenue. Revenue is expected to decline by 2.7% p.a. on average during the next 3 years, while revenues in the Electrical industry in the United Kingdom are expected to grow by 15%. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 9% per year. Ankündigung • Jan 21
Nexans Announces New Organization to Support New Stage of Its Development Nexans announces a new organizational structure, effective from 17 January 2025 under the leadership of Christopher Guérin, Chief Executive Officer. This change is designed to accelerate profitable growth, and aligns with the Group’s ambitions outlined during the recent Capital Markets Day. The new organization positions the Group for the next strategic cycle, and drives innovation in PWR-Grid and PWR-Connect markets. This region-based structure places strong focus on enhanced customer experience and addresses the evolving needs of clients. The new Executive Committee encompasses 15 executive members. This leadership team aims to better adapt and reflect Nexans’ business, commercial, and industrial priorities. Detailed composition of the Executive Committee:CEO Office: Christopher Guérin, Chief Executive Officer; Jean-Christophe Juillard, Deputy Chief Executive Officer; Vincent Dessale, Senior Executive Vice President, Strategic projects and Key accounts. Business Segment: PWR-Transmission, led by Pascal Radue, Senior Executive Vice President PWR-Transmission.PWR-Grid and PWR-Connect Market Divisions (new): PWR-Grid, led by Elyette Roux, Executive Vice President PWR-Grid & Accessories; PWR-Connect, led by Christopher Guérin (interim). PWR-Grid & Connect Regions (new): Europe, led by Julien Hueber, Executive Managing Director PWR-Grid & Connect Europe; South America, led by Luis Ernesto Silva, Managing Director PWR-Grid & Connect South America; (new appointment). Middle East & Africa, led by Atilla Kurtis, Managing Director PWR-Grid & Connect Middle East and Africa; (new appointment). North America, led by Tim King, Managing Director PWR-Grid & Connect North America; (new appointment). Asia Pacific, led by Donny Yu, Managing Director PWR-Grid & Connect Asia Pacific. (new appointment).Group Functions: Chief Financial Officer, Jean-Christophe Juillard; Chief Legal Officer and Secretary General, Nino Cusimano; Chief Human Resources and ESG Officer, Séverine Grosjean; Chief Operations Officer, Vijay Mahadevan (new appointment); Chief Strategy, Innovation and Digital Officer, Guillaume Eymery (new appointment). Ankündigung • Nov 08
Nexans Announces the Business Separation of Its Specialty Industrial Cable Operations, Now Lynxeo Nexans announced the business separation of its specialty industrial cable operations formerly Nexans Industry Solutions & Projects now named Lynxeo, part of the Nexans group. The move will allow Lynxeo to further enhance its role in critical industrial segments. With a heritage of than 100 years serving industrial champions, Lynxeo boasts a global manufacturing presence in Europe Asia, and the United States of America. Buy Or Sell Opportunity • Nov 06
Now 22% undervalued Over the last 90 days, the stock has risen 7.9% to €126. The fair value is estimated to be €161, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.0% over the last 3 years. Earnings per share has grown by 4.6%. For the next 3 years, revenue is forecast to grow by 0.3% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Ankündigung • Oct 09
Nexans Launches Unique Cable Recycling and Recovery Service in France and Europe: CABLELOOP Nexans is launching a unique cable recycling and recovery service in France and Europe: CABLELOOP. Nexans is stepping up its recycling strategy to support the energy transition and address the growing copper shortage. This necessary transformation is creating an opportunity for Nexans to set itself apart in the sector by leveraging its unique capabilities and agility. The company is launching its turnkey CableLoop service: collecting installation cable off-cuts and transporting them to the recycling centre, and then transforming the waste into recycled raw materials. A pioneer in electrification, the Group aims to use a minimum of 30% recycled copper in the manufacturing of its cables by 2030. At a time when demand for electricity is set to increase by 35% by 2050, and the world is heading for a risk of shortages of raw materials - including copper, Nexans is strengthening its key role as a player in the circular economy to speed up the energy and climate transition. By actively investing in the recycling of non-ferrous metals, Nexans is promoting the creation of a sustainable cycle geared towards decarbonized energy: extended life cycles, reuse and recycling will contribute to a circular economy, reducing the use of virgin resources and lowering the carbon footprint created by the electrification of activities. Nexans already recycles over 40,000 metric tons of its own production waste every year. In Europe, this cable sorting and recovery process is partly carried out through the RecyCables joint venture created with Suez in Noyelles-Godault (northwestern France). As well as guaranteeing product traceability, local processing avoids the need to export large quantities of waste from France. With 60 years' experience in recycling cable waste, Nexans is stepping up its circular economy strategy and is launching CableLoop, a unique recycling and recovery service for cable offcuts. Nexans buys used cables - end of construction site electrical wires or obsolete industrial cables, and transforms them into valuable, infinitely reusable resources for its partners, customers, suppliers and the cable industry. Two versions of the service are available: CABLELOOP Enterprises: the service for companies via on-site collection. CABLELOOP Professionals: a new service offered by specialized distributors, for professional customers and electricians who can return their used cables to their branch. With these new recycling loops, Nexans aims to collect more than 800 metric tons of used cables by 2025 and to expand this circular model by developing waste collection and recovery from the industrial ecosystem and from its electrical equipment installation and distribution partners in France and Europe. Nexans will offer tailor-made logistics solutions and simplified, autonomous waste management on a 24-hour web platform together with traceability of the entire chain of operations. Buy Or Sell Opportunity • Sep 03
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to €125. The fair value is estimated to be €98.63, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.0% over the last 3 years. Earnings per share has grown by 4.6%. For the next 3 years, revenue is forecast to grow by 0.7% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Buy Or Sell Opportunity • Aug 08
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 12% to €117. The fair value is estimated to be €96.43, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.0% over the last 3 years. Earnings per share has grown by 4.6%. For the next 3 years, revenue is forecast to grow by 0.7% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Reported Earnings • Jul 26
First half 2024 earnings released: EPS: €3.98 (vs €3.03 in 1H 2023) First half 2024 results: EPS: €3.98 (up from €3.03 in 1H 2023). Revenue: €4.22b (up 5.4% from 1H 2023). Net income: €174.0m (up 32% from 1H 2023). Profit margin: 4.1% (up from 3.3% in 1H 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Electrical industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jul 25
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 44% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. This is currently the only risk that has been identified for the company. Ankündigung • Jul 24
Nexans S.A. to Report Fiscal Year 2024 Results on Feb 19, 2025 Nexans S.A. announced that they will report fiscal year 2024 results on Feb 19, 2025 Buy Or Sell Opportunity • Jul 19
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 6.7% to €104. The fair value is estimated to be €86.25, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.7% over the last 3 years. Earnings per share has grown by 14%. For the next 3 years, revenue is forecast to grow by 1.7% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Ankündigung • Jun 29
Nexans and SNCF Reseau Revolutionize Rail Safety with an Innovative Superconducting Fault Current Limiter Nexans is forming a unique partnership with SNCF Reseau to deploy a superconducting fault current limiter. This technological innovation will secure and optimize electric rail traction on the line between Belfort and Delle, including the cross-border link with Switzerland. Rail power grids are under growing pressure, with the continuing expansion of rail traffic and the upgrades to equipment. Power surges and short-circuit disruptions can cause major disruptions. To address this challenge, Nexans and SNCF Reseau have joined forces to deploy an innovative superconducting current limiter (SFCL). Developed by Nexans, and integrated with the Bussurel substation, a strategic location identified by SNCF Reseau, the SFCL is able to reduce short-circuit currents in standalone mode, regenerating in less than five minutes, without human intervention. This revolutionary technology offers several advantages: Improved network reliability and safety. The SFCL acts as a shock absorber in the event of a problem, limiting current peaks and disruptions to the network when short circuits occur. Optimized infrastructures. In the long term, the SFCL could pave the way for smaller electric traction installations, thereby cutting rail infrastructure costs, while supplying power for more trains. Better service. The SFCL avoids the need for rail works that are inconvenient for users, providing an efficient, cost-effective solution with no impact on the traffic schedule. Faced with the need to modernize power grids and meet growing demands for energy, Nexans is positioning itself as a leader in the development of revolutionary superconductor technologies. These innovations will completely transform the electrification of transport and power distribution, paving the way for a more sustainable, high-performance energy future. Nexans' vision is based on a network of interconnected superconductor systems, able to meet tomorrow's energy challenges. This ambition is reflected in iconic projects such as the superconducting fault current limiter deployed on the Belfort-Delle line, a milestone in the collaboration between the two players, as well as the SuperRail project, to power the Montparnasse-Vouillé substation with superconducting cables. These partnerships illustrate the commitment made by the two players to innovation and sustainable development. Deployment of the superconducting fault current limiter is scheduled for late 2025. This project is a major step forward in rail electrification, paving the way for further innovations to make transport safer, more reliable and more sustainable. Ankündigung • Jun 08
Nexans S.A. (ENXTPA:NEX) acquired La Triveneta Cavi s.p.a. Nexans S.A. (ENXTPA:NEX) signed an agreement to acquire La Triveneta Cavi s.p.a. on February 9, 2024. The transaction represents an acquisition multiple of 5.6x La Triveneta Cavi’s 2023 EBITDA pre-synergies and 4.6x post-synergies and will be high-single-digit accretive to earnings per share (EPS) from year one. Nexans’ financing of the acquisition will have limited impact on leverage. For FY 2023, La Triveneta had a workforce of approximately 700 people and generated current revenues of more than €800 million. Closing of the transaction is subject to regulatory approvals and satisfaction of other customary closing conditions. The European Commission (EC) has given the go-ahead to French electrification company Nexans SA’s (EPA:NEX) agreement to take over Italian industrial cable manufacturer La Triveneta Cavi. As of February 15, 2024, the transaction is expected to be completed in June 2024. The transaction will be financed through debt. The internal legal team of Nexans that followed the operation was led by the Group General Counsel Antonino Cusimano and coordinated with the Legal Manager Doormila Seebaluck. Stefano Valerio and Amélie Gillet as equity partner, Luigi Arturo Bianchi for the corporate governance aspect Stefano Grassani for the antitrust aspects, Filippo Arena for the administrative profiles act as advisor for Gatti Pavesi Bianchi Studio Legale Associato. Alessandro Giovannelli, Lilia Montella , Matteo Bruni and Filippo Noci from Giovannelli e Associati act as legal advisor for La Triveneta Cavi s.p.a. Antonio Albarello , Alberto Albarello and Patrizia Spazzini from Studio Legale Albarello, Spazzini e Associati act as legal advisor for La Triveneta Cavi s.p.a. Véronique Delaittre of Linklaters acted as advisor to Nexans on its €575 million bonds issuance. The net proceeds of this new issuance will be used by Nexans for the financing of the acquisition of La Triveneta Cavi s.p.a, and/or for general corporate purposes of the Group.Nexans S.A. (ENXTPA:NEX) completed the acquisition of La Triveneta Cavi s.p.a. on June 6, 2024. The enterprise value of around €520 million represents a multiple of 5.6x 2023 EBITDA pre-synergies and 4.6x post run rate synergies. Buy Or Sell Opportunity • May 23
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 18% to €112. The fair value is estimated to be €91.60, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.7% over the last 3 years. Earnings per share has grown by 14%. For the next 3 years, revenue is forecast to grow by 0.1% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Upcoming Dividend • May 14
Upcoming dividend of €2.30 per share Eligible shareholders must have bought the stock before 21 May 2024. Payment date: 23 May 2024. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of British dividend payers (5.7%). Higher than average of industry peers (1.9%). Ankündigung • Apr 24
Nexans S.A. to Report Q3, 2024 Results on Oct 24, 2024 Nexans S.A. announced that they will report Q3, 2024 results on Oct 24, 2024 Buy Or Sell Opportunity • Apr 08
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 28% to €99.46. The fair value is estimated to be €80.50, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.7% over the last 3 years. Earnings per share has grown by 14%. For the next 3 years, revenue is forecast to decline by 3.3% per annum. Earnings are forecast to grow by 12% per annum over the same time period. Declared Dividend • Apr 05
Dividend increased to €2.30 Dividend of €2.30 is 9.5% higher than last year. Ex-date: 21st May 2024 Payment date: 23rd May 2024 Dividend yield will be 2.4%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is well covered by both earnings (45% earnings payout ratio) and cash flows (31% cash payout ratio). The dividend has increased by an average of 24% per year over the past 7 years. However, payments have been volatile during that time. EPS is expected to grow by 39% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 27
Full year 2023 earnings released: EPS: €5.07 (vs €5.63 in FY 2022) Full year 2023 results: EPS: €5.07 (down from €5.63 in FY 2022). Revenue: €7.79b (down 6.9% from FY 2022). Net income: €221.0m (down 9.8% from FY 2022). Profit margin: 2.8% (down from 2.9% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 6.5% p.a. on average during the next 2 years, while revenues in the Electrical industry in the United Kingdom are expected to grow by 19%. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Mar 05
Now 21% undervalued Over the last 90 days, the stock has risen 27% to €94.08. The fair value is estimated to be €118, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.7% over the last 3 years. Earnings per share has grown by 14%. For the next 3 years, revenue is forecast to grow by 2.3% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Reported Earnings • Feb 16
Full year 2023 earnings released: EPS: €5.07 (vs €5.63 in FY 2022) Full year 2023 results: EPS: €5.07 (down from €5.63 in FY 2022). Revenue: €7.79b (down 6.9% from FY 2022). Net income: €221.0m (down 9.8% from FY 2022). Profit margin: 2.8% (down from 2.9% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years compared to a 19% growth forecast for the Electrical industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 12% per year. Ankündigung • Feb 10
Nexans S.A. (ENXTPA:NEX) signed an agreement to acquire La Triveneta Cavi s.p.a. Nexans S.A. (ENXTPA:NEX) signed an agreement to acquire La Triveneta Cavi s.p.a. on February 9, 2024. Closing of the transaction is subject to regulatory approvals and satisfaction of other customary closing conditions. The transaction represents an acquisition multiple of 5.6x La Triveneta Cavi’s 2023 EBITDA pre-synergies and 4.6x post-synergies and will be high-single-digit accretive to earnings per share (EPS) from year one. Nexans’ financing of the acquisition will have limited impact on leverage. For FY 2023, La Triveneta had a workforce of approximately 700 people and generated current revenues of more than €800 million. New Risk • Jul 27
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.2% Last year net profit margin: 3.5% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (2.2% net profit margin). Reported Earnings • Jul 27
First half 2023 earnings released: EPS: €3.02 (vs €4.53 in 1H 2022) First half 2023 results: EPS: €3.02 (down from €4.53 in 1H 2022). Revenue: €4.01b (down 7.7% from 1H 2022). Net income: €132.0m (down 33% from 1H 2022). Profit margin: 3.3% (down from 4.5% in 1H 2022). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 1.9% p.a. on average during the next 3 years, while revenues in the Electrical industry in the United Kingdom are expected to grow by 19%. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Ankündigung • Jul 25
Nexans Appoints Pascal Radue as Executive Vice President, Generation and Transmission Business Group, from September 1, 2023 Nexans announced the arrival of Pascal Radue as Executive Vice President, Generation and Transmission Business Group, from September 1, 2023. Pascal Radue has more than 20 years of experience in leading international teams around the world and in a wide range of positions, including Project Management and General Management and Business Transformation. As Nexans aims to extend its momentum in offshore markets and interconnectors, especially in the US and Europe, Pascal Radue will actively contribute to the Group’ s ambition to become a pure player in electrification worldwide. Pascal Radue is from Switzerland, he holds a Master of Engineering (Hons) degree in Naval Architecture from Southampton University in the UK. He started his career with Alstom Power in Belfort, France, in 2001. During his tenure with Alstom and later GE, Pascal held various leadership positions and most recently was the CEO of the GE Hydro business. Pascal Radue will report to Chief Executive Officer, Christopher Guérin. Ankündigung • Jun 28
Nexans S.A. to Report Q3, 2023 Results on Oct 25, 2023 Nexans S.A. announced that they will report Q3, 2023 results at 7:00 AM, Central European Standard Time on Oct 25, 2023 Ankündigung • Jun 20
Nexans Launches New High-Voltage Cable Range for Aircraft Nexans has launched a new high-voltage cable range for aircraft. With an efficiency higher than the previous generation, this cable family is a decisive step to reaching the carbon neutral objective in the aerospace industry by 2050. The need to consume less fuel is rapidly growing, driving the aerospace industry to change mobility technologies to alternative hybrid-electric aircraft. To support the next generation of aircraft, Nexans new high-voltage cables allow for a higher level of power without increasing the conductor's diameter and weight. Previewed at the Paris Air Show, Nexans new high- voltage cables for electrical and hybrid aircraft, and E-VTOL (Electrical Vertical Take-Off and Landing Vehicules) fit the requests from the Aerospace industry to reduce its carbon footprint, and the agenda of the French governement and the European commission to develop an innovative solution to integrate electrical and hybrid engines in aircraft. Nexans high-voltage cables are 20 times more efficient than standard aircraft cables. They can be used from 600V to 6,000V (AC, DC, PWM) when the standard aircraft voltages are ranging from 28V DC to 115V or 230 AC. They have higher power density (power/mass), using a patented design with semi-conductive and high resistivity layers which are extruded as sandwich layers. This guarantees a partial discharge free operation over a wide range of voltages and altitudes. A partial discharge is an electrical discharge that partially bridges a gap between a high-voltage conductor and a low-voltage conductor. Partial discharge causes degradation and can lead to system breakdown. As part of the "Clean Aviation" partnership, Nexans will play a significant role in reaching the program's energy efficiency and emissions goals, leading to a potential reduction of up 90% in emissions varying by the type of aircraft. Nexans' high voltage cables will be produced at its Draveil site in France, which employs 260 people. Upcoming Dividend • May 08
Upcoming dividend of €2.10 per share at 2.6% yield Eligible shareholders must have bought the stock before 15 May 2023. Payment date: 17 May 2023. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of British dividend payers (5.7%). Higher than average of industry peers (2.1%). Buying Opportunity • Apr 26
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 22%. The fair value is estimated to be €96.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 2.7% per annum. Earnings is forecast to grow by 9.0% per annum over the same time period. Reported Earnings • Mar 22
Full year 2022 earnings released: EPS: €5.63 (vs €3.75 in FY 2021) Full year 2022 results: EPS: €5.63 (up from €3.75 in FY 2021). Revenue: €8.37b (up 14% from FY 2021). Net income: €245.0m (up 49% from FY 2021). Profit margin: 2.9% (up from 2.2% in FY 2021). The increase in margin was driven by higher revenue. Revenue is expected to decline by 2.5% p.a. on average during the next 3 years, while revenues in the Electrical industry in the United Kingdom are expected to grow by 23%. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 51% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 16
Full year 2022 earnings released: EPS: €5.64 (vs €3.75 in FY 2021) Full year 2022 results: EPS: €5.64 (up from €3.75 in FY 2021). Revenue: €8.37b (up 14% from FY 2021). Net income: €245.0m (up 49% from FY 2021). Profit margin: 2.9% (up from 2.2% in FY 2021). The increase in margin was driven by higher revenue. Revenue is expected to decline by 2.9% p.a. on average during the next 3 years, while revenues in the Electrical industry in the United Kingdom are expected to grow by 25%. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Ankündigung • Feb 09
Nexans in Talks To Sell Its Telecom Systems Business to Syntagma Capital Nexans SA (ENXTPA:NEX) said it has started exclusive talks to sell its telecom systems business to Belgian private equity fund Syntagma Capital Sprl. The exit from the telecom and data operations is in line with Nexans’ strategy to simplify its activities and amplify its impact in electrification markets, the French firm noted. The financial details of the deal being negotiated were kept under wraps. Ankündigung • Jan 25
Nexans and Trimet Improve the Eco-Balance of Power Cables Trimet and Nexans have developed a new product able to meet the high technical requirements on the mechanical properties and conductivity of the alloy while reducing the product’s carbon footprint. Until now, power cables have been manufactured exclusively on the basis of primary aluminum. Melting and recycling of aluminum scrap requires only a fraction of the energy needed to produce primary aluminum. However, recycled aluminum contains impurities that adversely affect the material’s specific properties. The collaborative project between Nexans and Trimet aimed to coordinate optimized raw material supply and innovative material development. For example, Nexans has refined the sorting of aluminum scrap at its production sites in Europe through RecyCâbles, a Nexans-Suez joint venture, while gearing its collection to recycling for electrical cables. Trimet has closed the material cycle with its recycling concept and used the scrap obtained to develop a high-quality alloy that meets the full range of quality requirements for mechanical and electrical performance. Nexans plans to maximize the use of aluminum rod with recycled aluminum content in 2023. This enables the global company to meet its customers’ growing demand for products with a favorable eco-balance. For its part, Trimet is expanding its range of recycled products in the aluminum wire sector. In so doing, the materials specialist is building on its commitment to decarbonize production while making a further contribution to the energy transition. Ankündigung • Dec 17
Nexans S.A. to Report First Half, 2023 Results on Jul 26, 2023 Nexans S.A. announced that they will report first half, 2023 results on Jul 26, 2023 Ankündigung • Dec 16
Nexans S.A. to Report Q1, 2023 Results on Apr 26, 2023 Nexans S.A. announced that they will report Q1, 2023 results at 7:00 AM, Central European Standard Time on Apr 26, 2023 Buying Opportunity • Nov 16
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 8.3%. The fair value is estimated to be €113, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 17% in 2 years. Earnings is forecast to decline by 6.1% in the next 2 years. Reported Earnings • Jul 28
First half 2022 earnings released: EPS: €4.53 (vs €1.85 in 1H 2021) First half 2022 results: EPS: €4.53 (up from €1.85 in 1H 2021). Revenue: €4.34b (up 16% from 1H 2021). Net income: €197.0m (up 143% from 1H 2021). Profit margin: 4.5% (up from 2.2% in 1H 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 18% compared to a 93% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Ankündigung • Jul 28
Nexans S.A. to Report Fiscal Year 2022 Results on Feb 15, 2023 Nexans S.A. announced that they will report fiscal year 2022 results on Feb 15, 2023 Upcoming Dividend • May 09
Upcoming dividend of €1.20 per share Eligible shareholders must have bought the stock before 16 May 2022. Payment date: 18 May 2022. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of British dividend payers (4.8%). Lower than average of industry peers (2.2%). Reported Earnings • Mar 30
Full year 2021 earnings released: EPS: €3.75 (vs €1.80 in FY 2020) Full year 2021 results: EPS: €3.75 (up from €1.80 in FY 2020). Revenue: €7.37b (up 23% from FY 2020). Net income: €164.0m (up 110% from FY 2020). Profit margin: 2.2% (up from 1.3% in FY 2020). Over the next year, revenue is expected to shrink by 14% compared to a 191% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 17
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: €3.75 (up from €1.80 in FY 2020). Revenue: €7.37b (up 23% from FY 2020). Net income: €164.0m (up 110% from FY 2020). Profit margin: 2.2% (up from 1.3% in FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is expected to shrink by 17% compared to a 238% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Feb 14
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be €96.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. The company has become profitable over the last year. Reported Earnings • Jul 29
First half 2021 earnings released: EPS €1.85 (vs €1.27 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €3.74b (up 27% from 1H 2020). Net income: €81.0m (up €136.0m from 1H 2020). Profit margin: 2.2% (up from net loss in 1H 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 47% per year whereas the company’s share price has increased by 43% per year. Upcoming Dividend • May 12
Upcoming dividend of €0.70 per share Eligible shareholders must have bought the stock before 19 May 2021. Payment date: 21 May 2021. Trailing yield: 1.0%. Lower than top quartile of British dividend payers (4.1%). Lower than average of industry peers (1.8%). Analyst Estimate Surprise Post Earnings • Feb 18
Revenue beats expectations Revenue exceeded analyst estimates by 2.4%. Over the next year, revenue is expected to shrink by 2.3% compared to a 302% growth forecast for the Electrical industry in the United Kingdom. Reported Earnings • Feb 18
Full year 2020 earnings released: EPS €1.80 (vs €2.81 loss in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: €5.98b (down 11% from FY 2019). Net income: €78.0m (up €200.0m from FY 2019). Profit margin: 1.3% (up from net loss in FY 2019). Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. 
