French cable manufacturer Nexans upgrades its guidance for operating income and free cash flow after strong selective sales growth in the third quarter.

The company now expects earnings before interest, taxes, depreciations and amortizations in 2022 to amount to EUR 580-600m against the previously estimated EUR 560-590m, while analysts probed by Bloomberg News expected EUR 579.8m.

Guidance for adjusted free cash flow is raised to EUR 225-275m from EUR 200-250m.

Q3 sales have grown by 19% to EUR 1.64m.

Organic growth came to 10.3% in Q3, up from 6.7% in the first quarters of the year.

However, Q3 growth in the high-voltage business Generation & Transmission has waned significantly, to 4.3% from 17.2% in the year’s first nine months.

The quarter’s growth was particularly driven by increased organic growth within construction and industry.

Meanwhile, Nexans has also signed a new credit facility of EUR 800m.