French cable manufacturer Nexans has announced a rescheduling of activities that will lead to changes in the delivery timeline of the Great Sea Interconnector (GSI) project.
In a press release issued on Tuesday to the French stock market, the company said it was providing further clarification on the execution of its contract for the major electricity interconnection.
“Nexans is executing the project in accordance with its contractual obligations, and in line with the milestones defined since 2023,” the company said, adding that a rescheduling of activities is currently under discussion with its customer. “Nexans is therefore working closely with its customer to evaluate the best available options for a revised execution schedule.”
Delivery date affected, guidance unchanged
The company acknowledged that the revised schedule will affect the project’s delivery date. However, it stressed that the changes will not impact Nexans’ financial guidance for 2028.
According to the press release, this is due to the group’s sizeable order backlog and proactive measures planned from 2026 onwards to offset any potential impact.
Nexans said it will publish its 2026 guidance together with its full-year 2025 financial results on 19 February 2026, reiterating its commitment to delivering the project in close cooperation with its customer.
Confidence in long-term outlook
Beyond the GSI project, Nexans said it remains confident in the long-term growth prospects of its PWR-Transmission business, citing favourable structural trends and a strong, diversified order book.
Chief executive Julien Hueber said the Great Sea Interconnector project is continuing and described it as critical infrastructure.
“We are fully committed to supporting our customer in bringing this project to completion,” Hueber said, adding that the company is managing the situation with “strong discipline in execution”.
He noted that mitigating actions planned from 2026 in response to external developments allow Nexans to remain on track with both its financial trajectory and its 2028 guidance.
“Supported by long-term structural demand and a solid backlog, Nexans’ PWR-Transmission business remains a strong driver of value creation,” Hueber said, adding that the group remains focused on disciplined delivery.