Nexans Sa · EURONEXT:NEX
Nexans Sa — 9M 2026 Earnings Presentation
32 slides from Nexans Sa's earnings presentation, Oct 22, 2026
Slide 1: 9M 2026: Strong delivery of Nexans' business model as a Pure Player in Electrification
9M 2026 Strong delivery of Nexans’ business model as a Pure Player in Electrification
Slide 2: Safe Harbour
SAFE HARBOUR This presentation contains forward-looking statements which are subject to various expected or unexpected risks and uncertainties that could have a material impact on the Company’s future performance. Readers are also invited to visit the Group’s website where they can view and download
Slide 3: 9M 2026 Trading Update
S E C T I O N O 1 9M 2026 Trading Update 9M 2026 FINANCIAL INFORMATION | Page 3 Nexans 2026 © All right Reserved
Slide 4: 9M and Q3 2026: Electrification trends drive strong growth momentum
9M and Q3 2026 Underlying trends of Electrification drives strong growth momentum GROUP 9M 2026 GROUP Q3 2026 BOND ISSUANCE U.S. EXPOSURE €4,947m €1,698m €500m 5-YEAR BOND ISSUANCE INTEGRATION PROGRESSING IN GROUP GROUP FIXED RATE OF 4.25% LINE WITH OUR ROADMAP STANDARD SALES STANDARD SALES ACCESSOR
Slide 5: Scale Value Creation via Industrial & Operational Excellence
Scale Value Creation via Industrial & Operational Excellence Through strategic Capex previously announced and coming on line in the near term TRANSMISSION GRID METALLURGY Additionnal 525 HVDC Medium-voltage Technology Greenfield 80,000 t New high-voltage tower New site Recycled copper processing cap
Slide 6: Scale value creation via M&A excellence
Scale value creation via M&A excellence Allocating our acquired capacity to high-added value verticals Electro Cables Mutualization of footprint to serve attractive verticals in North America. Synergies on track INCREASING OUR EXPOSURE TO Reka Cables STRATEGIC VERTICALS Grid capacity extension in Fi
Slide 7: Solid momentum in PWR-Grid & PWR-Connect, PWR-Transmission normalized as expected
9M and Q3 2026 Solid momentum in PWR-Grid & PWR-Connect, while PWR-Transmission top line normalized as expected STANDARD SALES (€m) Strong Electrification growth, organic above mid-term guidelines GROUP ELECTRIFICATION Solid momentum in PWR-Grid and PWR- +3.9% 9M 2026 Q3 2026 9M 2026 Q3 2026 ORGANIC
Slide 8: PWR-Transmission: organic growth normalized and continued focus on profitability
PWR-TRANSMISSION Organic growth normalized as expected and continued focus on profitability Organic growth normalization continued as expected, 9M 2026 Q3 2026 following two years of particularly strong momentum STANDARD SALES (m€ ) +3.6% Q3 organic growth of -4.0% reflected a high comparison basis,
Slide 9: PWR-Grid: strong growth supported by capacity ramp-up and broad-based demand
PWR-GRID Strong growth supported by capacity ramp-up and broad-based demand 9M 2026 Q3 2026 STANDARD SALES (m€ ) Strong organic growth well-above mid-term guidelines +7.5% driven by : 1,066 • Progressive ramp-up of additional capacity and efforts 991 to improve operational efficiency in Europe, whic
Slide 10: Medium-Voltage Accessories Capacity Expansion in Europe and the U.S.
Medium-Voltage Accessories Capacity Expansion in Europe and the U.S. Increasing exposure to a highly profitable and dynamic market U.S. BROWNFIELD IN REPUBLIC WIRE FACILITY Increasing exposure to Data Center and Grid verticals Reducing lead times by up to c.60% Building a more resilient local supply
Slide 11: PWR-Connect: double-digit organic growth in Q3 and acquisition integration
PWR-CONNECT Double-digit organic growth in Q3 & successful integration of recent acquisitions 9M 2026 Q3 2026 STANDARD SALES (m€ ) High organic growth of +10.5% in Q3 2026 supported by: +21.9% • Signals of recovery in some countries in Europe 2,125 and remarkable momentum across other regions includ
Slide 12: 9M 2026 Key Financials
S E C T I O N O 2 9M 2026 Key Financials 9M 2026 FINANCIAL INFORMATION | Page 12 Nexans 2026 © All right Reserved
Slide 13: 9M 2026 Standard sales bridge
9M 2026 Standard sales bridge in €m +10.1% +5.6% +0.6% 4,947 +3.9% 4,492 Incl. Republic Wire Incl. Electro Cables Electrification +5.3% Cables RCT Other Activities(2) -5.2% 9M 2025(1) Organic Scope FX 9M 2026 (1) 9M 2025 restated in compliance with IFRS 5 linked to the portfolio rotation. See append
Slide 14: Republic Wire strengthening PWR-Connect's U.S. footprint
Republic Wire strengthening PWR-Connect’s U.S. footprint Integration progressing in line with our roadmap, synergies started materializing Capacity Extension 30% capacity increase, operating 7 days a week, with 2 new lines installed as planned Data centers Product offering integrated into Nexans’ po
Slide 15: €500m bond issuance successfully completed
€500m bond issuance successfully completed Attractive fixed-rate, refinancing of the Republic Wire bridge term loan €500m 4.25% 5 years BB+ AGGREGATE FIXED MATURITY S&P CREDIT RATING PRINCIPAL AMOUNT ANNUAL RATE SEPTEMBER 2031 CONFIRMED, STABLE OUTLOOK Strong investor demand Attractive fixed-rate fu
Slide 16: Outlook
S E C T I O N O 3 2026 Outlook 9M 2026 FINANCIAL INFORMATION | Page 16 Nexans 2026 © All right Reserved
Slide 17: 2026 Guidance Confirmed
GUIDANCE 2026 CONFIRMED ADJUSTED EBITDA FREE CASH FLOW €770M – €840M €235M – €325M This guidance does not assume execution of the Great Sea Interconnector project in 2026 but includes the load of MI line at the end of 2026 This guidance takes into account the contribution of Republic Wire starting 1
Slide 18: Appendices
Appendices 9M 2026 FINANCIAL INFORMATION | Page 18 Nexans 2026 © All right Reserved
Slide 19: 2026 quarterly information by segment
2026 quarterly information by segment CURRENT SALES STANDARD(1) SALES (3) (3) (3) (3) (3) (3) (3) (3) (in millions of euros) Q1 2026 Q1 2025 Q2 2026 Q2 2025 Q3 2026 Q3 2025 9M 2026 9M 2025 (in millions of euros) Q1 2026 Q1 2025 Q2 2026 Q2 2025 Q3 2026 Q3 2025 9M 2026 9M 2025 PWR-Transmission 359.3 3
Slide 20: 9M 2026 standard sales: scope and exchange rate impact
9M 2026 standard sales Impact of scope changes & exchange rates on standard(1) sales Organic 9M 2025(2) Scope Currency 9M 2026 growth (in millions of euros) PWR-Transmission 1,114.5 - 57.3 (16.8) 1,155.0 PWR-Grid 991.5 - (5.2) 79.5 1,065.8 PWR-Connect 1,742.6 253.0 (14.4) 143.6 2,124.7 Subtotal Elec
Slide 21: Q3 and 9M 2025 Pro Forma Bridge (IFRS 5)
Q3 and 9M 2025 Pro Forma Bridge (IFRS 5) BRIDGE Q3 2025 STANDARD SALES Q3 2025 Q3 2025 IFRS 5 Pro Forma (in millions of euros) Reported Restatements* & Restated PWR-Transmission 367.6 - 367.6 PWR-Grid 314.4 - 314.4 PWR-Connect 551.1 - 551.1 Non-Electrification (Industry & Solutions) 167.2 (167.2) -
Slide 22: 2028 guidance
2028 guidance GROUP ORGANIC SALES 2024-2028 CAGR (ELECTRIFICATION) 3-5% ADJ. EBITDA €1,150m (+/- €75M) FCF CONVERSION(1) >45% ROCE >20% DIVIDEND PAYOUT(2) 30% LEVERAGE(3) ≤ 1.0x (1) FCF pre-M&A and equity operations / Adj. EBITDA assuming flat change in WC (2) Share of recurring net income (3) Rati
Slide 23: Financial trajectory toward 2028
Financial trajectory toward 2028 Agility and discipline across the board Adjusted EBITDA €1,150m (m€) (+/- €75m) Volume growth Mix premium Operational excellence Volume growth Competitiveness €728m Mix premium Industrial excellence Commercial Growth Quality of Execution + Additional M&A Backlog FY 2
Slide 24: Nexans' value creation model, Global Electrification Pure Player
Nexans’ value creation model, Global Electrification Pure Player A model of profitable growth & solid cash generation OUR GROWTH OUR VALUE CREATION OUR CAPITAL ALLOCATION TARGETED M&A PWR-GRID & PWR-CONNECT TARGETED M&A L PWR-GRID & PWR-CONNECT O W SELECTIVE ORGANIC GROWTH L E ADJUSTED EBITDA FREE C
Slide 25: Diversified end-markets and balanced geographic footprint
Diversified end-markets and balanced geographic footprint 16% 53% NORTH AMERICA EUROPE €682m €2,367m 13% 2% OTHERS OTHERS 38% PWR-CONNECT 40% PWR-CONNECT €6.1Bn €728m 2025 2025 STANDARD ADJUSTED SALES EBITDA 22% 27% 28% 30% 10% PWR-TRANSMISSION PWR-TRANSMISSION PWR-GRID PWR-GRID MIDDLE EAST & 14% AF
Slide 26: Nexans at a glance
Nexans at a glance A global player of energy transition ELECTRIFICATION BUSINESSES 2025 OUR PURPOSE €6 .1bn WE ELECTRIFY THE FUTURE STANDARD SALES OUR VALUES 12,830 PWR-TRANSMISSION PWR-GRID PWR-CONNECT DEDICATED PIONNEERS PEOPLE UNITED 39 OUR PROMISE SCALE-UP TO STEP-UP COUNTRIES OTHER (MAINLY META
Slide 27: Our strategy: Electrifying the future
Our strategy Electrifying the future Distributed Distributed generation generation (Utilityscale) (Private) Offshore Onshore wind Residential wind Datacenters Solar Infrastructure Hydro Industrial Centralized Transmission Distribution Usage generation subsea and land Commercial Nuclear Mobility PWR-
Slide 28: Copper production capacity
Copper production capacity Recycled copper an increasing part of the mix CATHODES & MILLBERRY up to 240kt ROD 240kt COPPER SCRAP up to 80kt NCCCR(1) project will unlock recycling capacity for Nexans starting in 2027, with flexibility between Inputs Outputs scrap refining volumes and Source: Nexans d
Slide 29: Nexans ESG Ratings
Nexans ESG Ratings CLIMATE & SUPPLIER ENGAGEMENT(1) A A- as of 2026 WATER Ratings go from D - (lowest) to A (highest) Nexans’ continuous ESG 78 progress is (2) as of Sep 2026 Ratings go from 0 (lower) to 100 (higher) positioning the Group among the top Ratings go from CCC (lowest) to AAA (highest) a
Slide 30: Sustainability: carbon emissions reduction
Sustainability In our compass SCOPE 3 EMISSIONS UPSTREAM SCIENCE BASED INITIATIVE (SBTi) TARGETS VS 2019 BASE YEAR 2025 -49% PURCHASE OF FREIGHT Scopes 1&2 RAW MATERIALS SCOPE 1 EMISSIONS DIRECT -40% Scope 3 Carbon emissions reduction (in %) -30% -30% -42% -40% INDUSTRIAL APPROVED OPERATIONS Mainly
Slide 31: Glossary
Glossary Adjusted PWR-Transmission backlog: Backlog adjusted for Organic growth: Standard sales growth as a percentage of prior- Sales at current non-ferrous metal prices: Net sales (at secured but not yet implemented Subsea, Land and Special year standard sales. Organic growth is a measure of growt
Slide 32: Financial Calendar and Contact
Financial Calendar and Contact FINANCIAL CALENDAR February 24, 2027: 2026 full-year results Audrey Bourgeois VP Investor Relations +33 1 78 15 00 43 audrey.bourgeois@nexans.com