September 30, 2020

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Prysmian S.P.A. Results at 30 June 2018

”The first half of the year recorded positive business performances leading to a good organic revenue growth,” stated CEO Valerio Battista. “Profitability was affected by the impact of provisions for the Western Link project; net of such provisions, the profitability of the Projects business was stable.

The most significant contribution to Adjusted EBITDA was attributable to the margins improvement of the Telecom business. The integration with General Cable started in record times, with the launch of the new organisation, just ten days after the closing on 6 June 2018, and the rapid start of works for the procurement area and of the organisational streamlining. Expected synergy targets were thus confirmed at €150 million, with impacts as early as 2018 year-end results. For the remainder of this year, we confirm the forecasts for full-combined adjusted EBITDA in the range between €860 and €920 million.”

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