+6% organic growth and strong financial performance led by Electrification businesses in H1 2024 2024 guidance upgraded _PRESS RELEASE_ H1 2024 standard sales of €3.5 billion (current sales of €4.2 billion), up +6.1% organically and Q2 2024 standard sales of €1.9 billion, up +9.4% organically Acceleration in Electrification businesses, up +14.1% organically in H1 2024, thanks to continued focus on value-added solutions Record adj. EBITDA of €412 million, up +16.4% year-on-year, adj. EBITDA margin at 11.6% up +96bps Robust Normalized FCF at €189 million, reflecting strong operational performance Balance sheet strengthened with two successful bond issuances Completion of the La Triveneta Cavi's acquisition, enhancing European footprint and product offerings Halden subsea high-voltage plant's extended capacity now operational, bolstering leadership in high-voltage solutions Full-year 2024 guidance upgraded, boosted by robust performance and integration of La Triveneta Cavi Adjusted EBITDA of between €750 and €800 million (€670 - €730 million previously) Normalized Free Cash Flow of between €275 and €375 million (€200 - €300 million previously) Capital Markets Day to be held on November 13, 2024 in London, and US investors day on November 20, 2024 in New York City ~ ~ ~ Paris, July 24, 2024 – Today, Nexans, a global leader in the design and manufacturing of cable systems to power the world, published its financial statements for the first-half of 2024, as approved by the Board of Directors at its meeting on July 23, 2024 chaired by Jean Mouton. Commenting on the Group's performance, Christopher Guérin, Nexans' Chief Executive Officer, said: "The record profitability we have achieved in the first half of 2024 evidences our value growth focus and the strategic direction we have set for Nexans. We have seen robust growth across our Electrification segments, particularly in Generation & Transmission where the strategic expansion of our Halden plant in Norway has already begun to yield benefits. The successful finalization of the acquisition of La Triveneta Cavi in Italy early June marks a significant milestone in our journey. This strategic move expands our Usage capabilities and reinforces our commitment to providing comprehensive, high-quality solutions to our customers globally. Innovation continues to be a driving force behind our success, and our pioneering work, such as the superconducting fault current limiter developed with SNCF Réseau, exemplifies our dedication to pushing technological advancements." H1 2024 KEY FIGURES (in millions of euros) H1 2023 H1 2024 Sales at current metal prices 4,009 4,224 Sales at standard metal prices1 3,322 3,546 Organic growth -0.6% +6.1% Adj. EBITDA 354 412 Adj. EBITDA as a % of standard sales 10.7% 11.6% Specific operating items (27) (12) Depreciation and amortization (87) (100) Operating margin 240 300 Reorganization costs (23) (23) Other operating items (1) 15 Operating income 217 291 Net financial income (loss) (38) (44) Income taxes (45) (71) Net income 134 176 Net debt 229 810 Normalized free cash-flow 281 189 ROCE 21.2% 19.7% H1 2024 BUSINESS PERFORMANCE Sales at standard metal prices reached €3,546 million in H1 2024. Demonstrating solid organic growth of +6.1% at constant scope and currency compared to H1 2023, the Group's strategic initiatives are paying off. Excluding the Other activities segment, which is being strategically scaled down, organic growth stood at +9.0%. The Electrification businesses grew by +14.1% organically, driven largely by the Generation & Transmission segment's strong growth following the Halden plant expansion. Despite a challenging automation market and a high comparison base, the Non-electrification business proved resilient with a slight organic decline of -1.6%. In Q2 2024, Nexans achieved organic growth of +9.4% compared to Q2 2023. Excluding the Other activities, the growth rate accelerated to +13.3%. Showcasing the strength of its core business focus, the Electrification businesses outperformed with +21.3% organic growth. In early June, Nexans successfully completed the acquisition of La Triveneta Cavi, a leading Italian cable manufacturer, for an enterprise value of approximately €520 million. With a robust presence in thirty countries, La Triveneta Cavi's performance in 2023, with current sales of around €800 million underscores the strategic value of this acquisition. The Group is poised to unlock approximately €20 million in annual synergies post-integration, leveraging its unique SHIFT Performance and Prime transformation programs, enhanced operational efficiencies and cross-selling opportunities. Nexans' proven track record of successful integrations inspires confidence in its ability to seamlessly incorporate La Triveneta Cavi into its operations. This strategic move is expected to unlock substantial value, reinforcing the Group's commitment to excellence in electrification. In H1 2024 net acquisitions/disposals had an impact on standard sales of +€8 million reflecting i) the integration of La Triveneta Cavi into the Usage segment from June 1, 2024, ii) the acquisition of Reka Cables since April 2023 bolstering the Distribution and Usage segments, and iii) the divestment of the Telecom Systems business since October 2023 in line with Nexans' vision to become an Electrification Pure Player. Adjusted EBITDA reached €412 million in H1 2024, up by a strong +16.4% versus €354 million in H1 2023. This performance underscored the profitability enhancements realized across all business segments. The adjusted EBITDA margin reached an all-time high of 11.6%, surpassing the previous year's strong performance of 10.7%. This achievement illustrates the Group's strategic focus on operational excellence and value-driven growth. Notably, the €18 million contribution from the SHIFT Prime program and the €4 million contribution from the Amplify program to the Electrification businesses' EBITDA, as compared to H1 2023, exemplify the tangible impact of strategic initiatives on value-added solutions. In H1 2024, specific operating items amounted to €(12) million in H1 2024. They included €(9) million related to share-based payment expenses, and €(4) million related to additional costs on long-term projects impacted by past reorganizations. EBITDA including share-based payment expenses - as per the 2021 Capital Markets Day definition -amounted to €404 million ...