Nexans announced that organic growth in 2017 accelerated to 8.2% in the second half of the year from 2.4% in the first half.  Growth was led by a strong 45% increase in sales by the submarine high-voltage business, continuing a trend that was also a feature of first half performance.

Commenting on the Group's performance in 2017, Arnaud Poupart-Lafarge, Nexans’ Chief Executive Officer, said, "Our 2017 results are in line with our forecasts, with sustained growth in the submarine high-voltage business and an increase in operating margin compared with 2016.”

The high-voltage projects business enjoyed robust 34.3% organic growth thanks to the efficient execution of submarine high-voltage contracts for which sales were up 44.9%.

Nexans also reported that the decision has been made to convert the Goose Creek, South Carolina, plant to submarine cable manufacturing to meet this business’ need for additional capacity in a cost-efficient manner while also enabling the plant to return to profit.

Organic growth in the submarine cables business stood at 44.9%. The plants are operating at full capacity and installation activity was at an historic high in 2017, at nearly double the 2016 level, creating the need for a second cable laying ship.