Nexans exited 2022 with substantial growth in both revenue and, especially, earnings.

The company managed to increase organic growth by 6.3% last year while earnings before interests, taxes and amortizations (EBITDA) jumped a whopping 29.6%, coming in at a total of EUR 599.5m.

Operating earnings are at the very top of the guidance, and the EBITDA performance is a new record, informs Nexans.

According to Bloomberg News, analysts guided for an operating result of EUR 598.2m.

EBITDA margins grew by 130 basis points to reach 8.9% against 7.6% in 2021, and sales at standard metal prices climbed to EUR 6.7bn, up from EUR 6.1bn.

In 2023, Nexans guides for EBITDA of EUR 570-630m, and the median of EUR 600m exceeds analyst consensus of EUR 598,5m, reports Bloomberg.

Nexans’ backlog within Generation & Transmission segments, which includes high voltage cable projects, reached an all-time high at EUR 3.5bn at the end of December 2022, which is a 51% bump from the year before.