Nexans Adjusts Great Sea Interconnector Project Schedule Without Altering Its 2028 Trajectory
Nexans announced on Monday that a rescheduling of the execution timeline for the Great Sea Interconnector (GSI) contract is currently under review with its client. However, the company clarified that these adjustments do not affect its financial guidance for 2028.
Project Execution and Financial Goals
The electrification specialist indicated that the GSI project is being executed in accordance with its contractual obligations and in line with the milestones set since 2023. Nexans is working closely with its client to explore various options for an adjusted execution schedule, according to the statement. The company specified that while these adjustments may affect the project's delivery date, they do not impact its medium-term financial targets. This lack of impact is due to the robustness of the group's order book and the proactive implementation of actions to offset any potential impact from 2026, the company noted. Nexans will provide its guidance for 2026 during the announcement of its annual results for 2025, scheduled for February 19, 2026.
Confidence in Long-Term Growth Prospects
The group reaffirmed its confidence in the long-term growth prospects of its PWR-Transmission business, independent of the GSI project. This confidence is based on strong structural trends and a solid and diversified order book, according to the statement. Julien Hueber, CEO of Nexans, emphasized that the GSI project continues and that the company remains committed alongside its client to ensure the completion of this infrastructure. The executive indicated that measures initiated from 2026 in response to external developments enable the group to stay aligned with its financial trajectory and its 2028 guidance. He also stated that the PWR-Transmission activity continues to be a lever for value creation for the group.
Global Positioning in Wiring Systems Design
Nexans positions itself as a global player in the design of wiring systems for the energy transition, covering both terrestrial and offshore renewable energies as well as smart cities and homes. The group, present in 41 countries, employs 28,500 staff and reported a standard revenue of 7.1 billion euros in 2024, according to the provided information. The company relies on three main activities: PWR Transmission, PWR Grid, and PWR Connect. Nexans is committed to achieving carbon neutrality by 2050, in line with the Science Based Targets initiative. The group is listed on the Euronext Paris market, compartment A.
