Sees 2024 normalized EBITDA 670-730 mln eur (Il Sole 24 Ore Radiocor) - Paris, 24 Apr - French tubes maker Nexans said that its first quarter sales came in at 1.692 billion euros at standard metal prices, the strongest first three months of the year in history, compared with 1.674 billion a year ago and representing 2.8% organic growth and an increase of 5.4% from the fourth quarter.

Growth was driven by the Electrification business that saw 6.7% organic growth to 1.025 billion euros while Generation & Transmission saw a 33.9% jump in sales to 257 million euros, but they were down 8.2% from the fourth quarter.

Nexans saw a record adjusted backlog for Generation & Transmission, mainly subsea-driven, at 6.7 billion euros, up 10.2% compared to December 2023.

It confirmed its guidance for 2024 with an adjusted EBITDA of 670-730 million euros and a normalized free cash flow of 200-300 million euros.

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(RADIOCOR) 24-04-24 08:00:16 (0080) 5 NNNN