Nexans (NEX) AGM 2026 summary

Opening remarks and agenda

• AGM opened with a review of 2025 performance, themed presentations on data centers, digital transformation, climate strategy, and board membership renewals and appointments.

• CEO and CFO presented 2025 highlights, 2026 outlook, financial results, and Q1 2026 sales.

• Updates included climate roadmap, corporate governance, compensation, and statutory auditors' reports.

• Electronic voting system used for resolutions, with tablets provided to attendees for secure and efficient voting.

• Legal formalities completed, quorum confirmed at 76.21%, enabling all agenda items to be addressed.

Financial performance review

• 2025 saw record financial results: standard sales of €6.1bn, current sales of €7.8bn, organic growth of 11.6%, and adjusted EBITDA margin of 13.3%.

• FY 2025 organic growth at +8.3%, standard sales €6,098m, adjusted EBITDA €728m (11.9% margin).

• ROCE above 20%, leverage at 0.36, and strong cash generation with €808m from operations.

• Major acquisitions included Electro Cables Inc. (Canada), Cables RCT (Spain), and Republic Wire (US, closing expected Q3 2026); disposal of Nexans Autoelectric underway.

• Transmission and Grid segments drove profitability, with Transmission sales doubling since 2023 and a backlog of €7.7bn.

Strategic initiatives and plans

• Intensify program focuses on industrial excellence, commercial expansion, and targeted acquisitions, especially in the U.S.

• Intensification phase (2024–2028) focused on scaling operations, M&A, and value creation.

• Data centers identified as a key growth driver, aiming to double market share by 2028 and reach double-digit sales contribution; global market set to double by 2030.

• Major investments in new plants (Morocco, France, Belgium), modernization of facilities, fleet expansion, and launch of a new transmission ship.

• AI integration through the SHIFT program to enhance operational efficiency, decision-making, and resilience.