Financial results
2020 Full Year Results
Feb 17, 2021
“ Despite the unprecedented global health and economic crisis, 2020 was a tipping point for Nexans, as we demonstrated our ability to accelerate the company’s transformation, outperforming our financial performance both in ROCE and free cash flow, resulting in a 10-year low net debt. Our efforts, in the second semester, were focused on our long-term ambition, defining our new purpose to “Electrify the future”, our new values, our new ESG & Carbon neutrality commitment.
It’s full steam ahead that we will announce today our new strategic chapter up to 2024, and 2021 will be a year of acceleration of our new strategic moves on Electrification. Nexans is starting 2021 confident and with ambitious goals. ”
Christopher Guérin
Nexans’ Chief Executive Officer[1] To neutralize the effect of fluctuations in non-ferrous metal prices and therefore measure the underlying sales trend, Nexans also calculates its sales using standard prices for copper (new standard price at 5,000 €/t) and aluminum.
[2] The full year 2019 sales figure used for like-for-like comparisons corresponds to sales at standard non-ferrous metal prices, adjusted for the effects of exchange rates and changes in the scope of consolidation. Exchange rates and changes in the scope of consolidation impacted sales at standard non-ferrous metal prices by -€197m and -€45m respectively.
[3] Consolidated EBITDA is defined as operating margin before depreciation and amortization.
[4] 12 months operating margin on end of period capital employed excluding antitrust provision.
[5] The estimated Covid-19 impact included in the net loss corresponds to (i) the amount after tax of the EBITDA estimated loss, (ii) the depreciation of deferred taxes losses in Europe reflecting the update of business plans in Automotive, and (iii) the sanitary expenses spent to protect employees and maintain the activity.
[6] Excluding M&A and equity operations.
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