Nexans gives 2028 outlook in push for electrification (updated)

Nexans SA

13/11/2024 07:18

(Adds quote in paragraph 3, background in paragraph 4)
       Nov 13 (Reuters) - Nexans  NEXS.PA  unveiled a financial
guidance for 2028 ahead of its Capital Markets Day event on
Wednesday, as the French cable specialist shifts towards
electrification.
    The group expects to reach adjusted earnings before
interest, taxes, depreciation and amortization (EBITDA) of 1.15
billion euros ($1.22 billion) in 2028, give or take 75 million,
it said.
    "The new strategic roadmap will focus on amplifying its
position in Electrification through new tech solutions, and new
market segments, amplified by artificial intelligence," Nexans
said in a statement.
    The 120-year-old grid cabling company is betting on the
electrification of everything as countries switch to greener
energy, requiring more of its cables and power connectors.
($1 = 0.9424 euros)

 (Reporting by Nathan Vifflin in Gdansk; editing by Milla Nissi)
 ((nathan.vifflin@thomsonreuters.com; +48 58 769 67 13;))