Posted by: Windfair Editors
Nexans Publishes Q1 Financial Information
Official Press Release Nexans:
2020 first quarter financial information
Stable Group sales in unprecedented crisis / Transformation program reinforced and implemented group-wide / Paving the way for a stronger Nexans
Standard sales of 1,569 million euros in the first-quarter 2020, representing organic growth of -0.1% year-on-year (YoY) Strong backlog in Subsea (1.6 billion euros) with no delays in project execution China back to full operations, Europe and North America impacted by partial lockdowns Strong actions to cope with the sanitary crisis and to preserve liquidity: • Increased cost reduction targets and strict cash management • Proposed cancelation of dividend payment to shareholders • Reduced fixed compensation by 30% reduction for... ... More: Official Press Release Nexans
