Nexans – Update on Covid-19
Paris La Défense, March 24th, 2020 - Nexans is closely monitoring the Covid-19 pandemic and managing its consequences, to ensure the best possible outcome in the interest of our People, our Customers and business partners and all our stakeholders.
The Executive Committee and the entire management team globally, are fully engaged in managing the crisis and are focusing on these main key objectives:
- Workforce Protection;
- Supply Chain & Production Continuity;
- Customer Engagement;
- Preserving our financial liquidity.
At this stage, as several governments have taken, and continue to take, restrictive measures which may affect our supply chain and production schedule worldwide and given the overall uncertainty, it is too early to assess the impacts on the Group results. We must, therefore, suspend our 2020 Guidance, as announced on February 20th, until the global situation, dictated by the pandemic outbreak, firms up.
Nexans is a key driver for the world’s transition to a more connected and sustainable energy future. For over 120 years, the Group has brought energy to life by providing customers with advanced cable technologies for power and data transmission. Today, Nexans goes beyond cables to offer customers a complete service that leverages digital technology to maximize the performance and efficiency of their critical assets. The Group designs solutions and services along the entire value chain in four main business areas: Building & Territories (including utilities and emobility), High Voltage & Projects (covering offshore wind farms, subsea interconnections, land high voltage), Telecom & Data (covering data transmission, telecom networks, hyperscale data centers, LAN), and Industry & Solutions (including renewables, transportation, oil and gas, automation, and others).
Corporate Social Responsibility is a guiding principle of Nexans’ business activities and internal practices. In 2013 Nexans was the first cable provider to create a Foundation supporting sustainable initiatives bringing access to energy to disadvantaged communities worldwide. The Group’s commitment to developing ethical, sustainable and high-quality cables also drives its active involvement within leading industry associations, including Europacable, the NEMA, ICF and CIGRE.
Nexans employs nearly 26,000 people with an industrial footprint in 34 countries and commercial activities worldwide. In 2019, the Group generated 6.7 billion euros in sales.
Nexans is listed on Euronext Paris, compartment A.
For more information, please visit: www.nexans.com
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