Nexans sales rise 21.4% in third quarter as organic growth accelerates
Key Facts
Nexans reported third-quarter 2026 sales at standard metal prices of 1,698.2 million euros, up 21.4% overall, according to its official disclosure released on October 22. The company compared the figure with restated sales of 1,398.7 million euros in the same period a year earlier. Organic sales growth reached 9.0%, with acquisitions and currency movements providing additional support to the group's revenue expansion. Changes in the group's scope, including acquisitions, contributed 9.6% to quarterly sales growth, according to the breakdown in the disclosure. Currencies contributed 2.8%, with sales during the period benefiting from organic business growth, an expanded group perimeter and a positive foreign-exchange impact.
Sales at standard metal prices totaled 4,946.7 million euros in the first nine months of 2026, according to Nexans' disclosure. Restated comparable sales were 4,492.2 million euros in the same period a year earlier, bringing the overall increase to 10.1%. The group recorded organic growth of 3.9% over the nine months, alongside a 5.6% contribution from acquisitions. Currencies also contributed 0.6% to sales growth during the period, the company said. The group's organic sales growth had reached 1.5% in the first half of 2026, according to its results statement for that period. Organic growth therefore accelerated in the third quarter compared with its first-half pace, while the nine-month performance encompassed both periods.
Power Grid led organic sales growth among the segments listed in the official investor presentation, posting a 14.8% increase in the third quarter. Connect also delivered organic growth of 10.5% over the same period, joining Grid in supporting the group's performance. Nexans linked Grid's performance to large solar projects across several regions where it operates. Demand drivers identified by the company included projects in South America, as well as projects in the Middle East and Africa. The official presentation singled out Turkey and Morocco among the markets where large-scale solar projects supported Power Grid activity during the quarter.
By contrast, Transmission sales declined organically by 4.0% in the third quarter, according to Nexans' investor presentation. The segment's adjusted order backlog stood at 7.8 billion euros at the end of September, according to the official nine-month statement. The company said subsea projects were the main driver of the backlog, which provides a backdrop to the Transmission business's performance. Commenting on the quarterly performance, Chief Executive Julien Hueber said it inherently reflected "the timing and mix of activity." Hueber reaffirmed the company's continued balanced approach to the period ahead. The guidance published with the first-half results excluded execution of the Great Sea Interconnector project during 2026, an assumption the company included in its annual outlook at the time.
In group developments, Nexans announced the successful issuance of 500 million euros in bonds in September, according to its nine-month disclosure. In the same disclosure, it said the integration of Republic Wire in the United States was proceeding as planned. In market developments ahead of the quarterly sales announcement, Nexans shares rose 2.5% on October 12, 2026, according to Investing.com. The move followed a rating upgrade by Jefferies, according to the report published that day. The firm's recommendation on the French cable maker moved from "hold" to "buy" ahead of the third-quarter performance disclosure.
With the announcement of its nine-month performance, Nexans reaffirmed its financial guidance for full-year 2026, according to its official statement. It maintained its adjusted earnings before interest, taxes, depreciation and amortization range at 770–840 million euros. It also kept its free cash flow guidance at 235–325 million euros for the same year. The reaffirmation of both ranges follows the period covered by the sales disclosure, retaining the annual targets the company had announced. Nexans' financial calendar set February 24, 2027, as the date for announcing its full-year 2026 results.