Nexans: S&P Global Ratings upgrades Nexans to BB

PRESS RELASE _

NEXANS: S&P GLOBAL RATINGS UPGRADES NEXANS TO BB+

• Nexans solid results, successful transformation and sound balance sheet support rating upgrade to BB+
• New record low Net Debt at 74 million euros
• Outstanding Free Cash Flow of 179 million euros
  

Paris, February 16, 2022 – Today, Nexans is proud to announce that S&P upgraded Nexans’ rating to BB+ from previously BB.

In 2021, the Group exceeded expectations, notably reaching 179 million euros free cash flow and a new record low net debt at 74 million euros, supported by strict working capital management and cash generation mindset.

Nexans’ rating raised to BB+ on the Group’s long-term issuer credit and senior unsecured notes. Outlook remains stable.

Commenting on the news, Jean-Christophe Juillard, Nexans’ Chief Financial Officer, said: “S&Ps rating upgrade evidences the Group’s successful transformation strengthening its Balance Sheet since 2019. As Nexans is building its new strategic roadmap to become an Electrification Pure Player, this recognition is key to support our ambition.”

Rating is available on S&P Global Ratings website www.spglobal.com/ratingsdirect and on Nexans website www.nexans.com/finance

About Nexans

For over a century, Nexans has played a crucial role in the electrification of the planet and is committed to electrify the future. With around 25,000 people in 42 countries, the Group is leading the charge to the new world of electrification: safe, sustainable, renewable, decarbonized and accessible to everyone. In 2021, Nexans generated 6.1 billion euros in standard sales.
The Group is a leader in the design and manufacturing of cable systems and services across four main business areas: Building & Territories, High Voltage & Projects, Industry & Solutions and Telecom & Data.
Nexans is the first company of its industry to create a Foundation supporting sustainable initiatives bringing access to energy to disadvantaged communities worldwide. The Group pledge to contribute to carbon neutrality by 2030.

Nexans. Electrify the future.

Nexans is listed on Euronext Paris, compartment A.
For more information, please visit www.nexans.comwww.nexans.com

Contacts:        

Investor relations Aurélia Baudey-Vignaud Tel.: +33 (0)1 78 15 03 94 aurelia.baudey-vignaud@nexans.com	Communication Minaa El Baz Tel.: +33 (0)1 78 15 04 65 minaa.el_baz@nexans.com
Elodie Robbe-Mouillot Tel.: +33 (0)1 78 15 03 87 elodie.robbe-mouillot@nexans.com

 

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• NEXANS_S&P GLOBAL RATINGS UPGRADES NEXANS TO BB+