Nexans' half year results: Operating Profit maintained despite a difficult economic environment

Paris, September 12, 2001 - Nexans  Board of Directors met on September 11, 2001, under the chairmanship of Gérard Hauser, to review the group's accounts for the first half of the year.

Commenting on these results, the Chairman declared:

"Sales for the first half came to 2,536 million euros. This represents a rise, at constant non ferrous-metals price, of 5.5% over the same period in 2000, to sales of 2,320 million euros.

Despite the depressed economic climate in North America, and thanks to good performance in infrastructure markets, operating profit came to 79 million euros as of June 30, 2001, which was stable compared to the first half of 2000.

Net income came to 19 million euros. As announced at the time of the IPO, this figure is less than that of the first half of 2000 owing to an increase in financial costs and a high effective tax rate during this period. The figure recorded on June 30th is not representative of the expected annual result. Second half net income will be significantly higher than the first half of the year.

In a difficult economic environment, due to the partial spread of the North American recession to Europe, we are confident in Nexans? capacity to pursue its growth policy and maintain its objective of reaching, for the entire 2001 fiscal period, operating profit close to that of the year 2000 resulting from the adjustments made as well as the energetic cost reduction programmes undertaken".