Floss, February 2020. With a sales revenue of 464 million euros, the Nexans autoelectric group improved on its 2018 results by nearly 2%, despite a worldwide decline in car sales. This development is primarily based on volume increases at two German OEMs and among customers on the US market.
Business relating to fittings for electric and hybrid vehicles was up around 20% on 2018, and the automotive supplier expects a further rise this year and beyond. The reason for this positive outlook lies in several series-production launches planned for this year, as well as a major contract that was secured at least a year ago. The management believes the company has established additional expertise in this segment, which particularly encompasses high-voltage cables and storage cabling.
As at the end of 2019, the group employed over 10,500 staff, some 500 of whom were based in Germany.
The company so far expects sales revenue to keep growing in 2020, though new trade disputes and further spreading of the coronavirus may negatively impact on worldwide automotive sales volumes.
