Nexans comes out on top at the close of this year's first quarter, growing revenue by 8 percent.

The French cable company's Q1 top line grew to EUR 1.62bn from EUR 1.50bn from the same period last year.

Prior to the interim report release, Bloomberg News compiled analyst forecasts averaging EUR 1.53bn.

In a statement on the quarterly report, the cable maker attributes the advance to both solid market demand as well as increasing electrification globally.

"Group-wide, we started the year with exceptionally strong momentum, directly resulting from the implementation of our new strategy combining smart growth (value driven) with our strategic customers and the deployment of our very successful transformation programs, SHIFT and Amplify. We are therefore confident about achieving our 2022 financial guidance," writes Nexans Chief Executive Christopher Guérin.

Nexans also has activities in Ukraine, which needless to say have been hit by the war in the country, where much of the group's attention during the period has been directed toward staff safety, the company writes.

Investors have responded positively to the financial statement by sending the share price up by 2.4 percent to EUR  84.05 in Paris trading.

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