Nexans: sales decline in 1Q, electrification continues

Nexans sees its sales fall slightly in the first quarter of 2023 due to the decline in aluminum and copper prices. The group is refocusing on electrification by progressively abandoning its telephone and data cable activities.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

Nexans’ first-quarter sales fell slightly, mainly due to the drop in the price of raw materials such as aluminum and copper, which are used to manufacture the electrical cables sold by the group.

The world’s second-largest cable company reported first-quarter revenues of €2.03 billion, down 1.4% compared with the first three months of 2022. “Copper and aluminum prices in the first quarter of 2023 were lower than in the first three months of 2022,” the group recalled.

But excluding the price effect, taking into account “standard” prices, at 5,000 euros per ton of copper and 1,200 euros per ton of aluminum for comparison purposes, “standard” sales rose by 3.1% to 1.67 billion euros, compared with 1.62 billion last year. “In fact, variations in metal prices on the markets have no influence on the group’s performance, since we pass on the real value of prices to our customers,” says the group, which prefers to communicate on standard sales rather than on those reflecting variations in metal prices.

In the first quarter, Nexans accelerated its development to become a “pure player” in electrification, a strategic refocusing on electrical cable announced since 2021, which is gradually leading it to abandon the cable business related to telephony and data. In particular, the group announced its intention to acquire Reka Cables, a Finnish company.

In addition, it has “recently” entered into exclusive negotiations with a Belgium-based private equity fund, Syntagma Capital, for the sale of its Telecom Systems business (about 180 million euros in revenues by 2022), a statement said. “This proposed transaction, once completed, will mark Nexans’ exit from the Telecom Infrastructure and Cables and LAN Systems businesses,” the group said.

The special telecommunications business will now be part of the power generation and transmission division, as more and more submarine high-voltage projects require telecom fibers embedded in power transmission cables, the group said, adding that it will no longer report on the telecom and data segment.

The Italian industrial cable manufacturer posted revenue above €5bn in the third quarter, driven by high-voltage cable demand, and adjusted its 2025 guidance upward.
The Thai group targets energy distributors and developers in the Philippines, as the national grid plans PHP900bn ($15.8bn) in investments for new transformer capacity.
Scatec strengthened growth in the third quarter of 2025 with a significant debt reduction, a rising backlog and continued expansion in emerging markets.
The French industrial gas group issued bonds with an average rate below 3% to secure the strategic acquisition of DIG Airgas, its largest transaction in a decade.
With a 5.6% increase in net profit over nine months, Naturgy expects to exceed €2bn in 2025, while launching a takeover bid for 10% of its capital and engaging in Spain’s nuclear debate.
Austrian energy group OMV reported a 20% increase in operating profit in Q3 2025, driven by strong performance in fuels and petrochemicals, despite a decline in total revenue.
Equinor reported 7% production growth and strong cash flow, despite lower hydrocarbon prices weighing on net results in the third quarter of 2025.
The former EY senior partner joins Boralex’s board, bringing over three decades of audit and governance experience to the Canadian energy group.
Iberdrola has confirmed a €0.25 per share interim dividend in January, totalling €1.7bn ($1.8bn), up 8.2% from the previous year.
A new software developed by MIT enables energy system planners to assess future infrastructure requirements amid uncertainties linked to the energy transition and rising electricity demand.
Noble Corporation reported a net loss in the third quarter of 2025 while strengthening its order backlog to $7.0bn through several major contracts, amid a transitioning offshore market.
SLB, Halliburton and Baker Hughes invest in artificial intelligence infrastructure to offset declining drilling demand in North America.
The French energy group announced the early repayment of medium-term bank debt, made possible by strengthened net liquidity and the success of recent bond issuances.
Large load commitments in the PJM region now far exceed planned generation capacity, raising concerns about supply-demand balance and the stability of the US power grid.
The termination of a strategic contract with Dutch grid operator TenneT triggered the administration of Petrofac’s holding company, reigniting tensions with creditors.
Algeria has removed Rachid Hachichi from the leadership of Sonatrach, two years after his appointment, replacing him with Noureddine Daoudi, former head of the National Agency for the Valorisation of Hydrocarbon Resources.
Portugal’s Galp Energia reported an adjusted net profit of €407 million in Q3, driven by higher refining margins and strong contribution from liquefied natural gas.
Air Liquide signs agreement to acquire NovaAir, strengthening its presence in India’s industrial gas market by expanding its national footprint.
Voltalia's Q3 2025 revenue rises to €164.7mn, fuelled by a sharp increase in services activity, while energy sales decline due to currency effects and lower prices.
Altano Energy secured €81mn ($85.7mn) to construct two onshore wind farms and three photovoltaic plants in southern Spain, reinforcing its multi-technology generation strategy.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.