Nexans shares posted the biggest rise in the SBF 120 index on Thursday morning on the Paris Bourse, in the wake of its annual results, which came in at the top of the range, and its solid outlook for 2024.

At around 10:00 a.m., the cable manufacturer's shares were up 6.6%, ahead of Renault (+6%) and Pernod Ricard (+5.5%), whose publications were also welcomed by the market.

Nexans announced this morning that it had achieved a "robust" performance in 2023 and had met all its targets, which it had raised last July, thus confirming the scale of its transformation.

Its adjusted operating profit (Ebitda) reached a record 665 million euros (+8% compared with 2022), while Ebitda - which includes share-based payments - stood at 652 million euros for the year.

In a reaction note, analysts at Oddo BHF point out that this latest performance is slightly higher than the 610 to 650 million euro range that the Group had set itself as a target.

In other good news, Nexans intends to propose a dividend to its shareholders, up 10% to 2.30 euros per share.

Despite the current macroeconomic uncertainties, the company says it is approaching the 2024 financial year with confidence, and forecasts adjusted Ebitda of between 670 and 730 million euros this year.

By way of comparison, analysts at Oddo were anticipating a figure of between 650 and 700 million euros.

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