Nexans up after 'solid beat', FY 2026 guidance hike

Nexans SA

29/07/2026 08:06

** Shares in Nexans NEXS.PA rise 7% after the French cable maker posted its H1 figures and  raised core profit guidance driven by strong electrification business and M&A boost
** It expects adjusted EBITDA to come between €770-840 million ($878-958 million) compared to the previous forecast of €730-810 million
**J.P.Morgan flags that the upgrade is mainly linked to recent M&As
** With the acquisition of Electro Cables in Canada and Republic Wire in the U.S., sales in the region grew to around €1 billion from €350 million in six months, the group's CEO said
** JPM adds that Nexans reported a "solid headline beat" with organic growth of +1.5% and adjusted EBITDA of €388 million coming ahead of its expectations
** Shares on track for their best day since April
($1 = €0.8771)
     
     

(Reporting by Mathias de Rozario in Gdansk)
((mathias.derozario@thomsonreuters.com))