Prysmian Group’s financial results
In the first nine months of 2024, Prysmian reported revenues of 12,362 million euros, with a slight organic contraction of -1.4%. However, net profit showed a significant improvement, reaching 634 million euros, compared to 588 million in the same period of the previous year.
This increase was accompanied by a profit attributable to the shareholders of the parent company, which rose to 619 million.
EBITDA growth and quarterly performance
A positive aspect is represented by adjusted EBITDA, which registered an increase of 9.6%, reaching 1,409 million euros. In the third quarter, adjusted EBITDA showed an impressive increase of 32%, reaching 540 million, while sales increased by 19%, reaching 4.54 billion euros. Profit for the quarter was 217 million, an increase of 28% compared to the previous year.
Future strategies and confirmation of growth
Massimo Battaini, CEO of Prysmian, highlighted how the company is improving margins and cash generation. The results obtained highlight Prysmian’s favorable position to pursue organic growth and further improve margins. The solid performance in the Transmission and Power Grid sectors, together with the improved margin in Industrial & Construction, are positive signs for the future.
In addition, the acquisition of Encore Wire had a positive impact, confirming the cultural affinity between companies. Prysmian has also confirmed its forecasts for 2024, updated in the first half of the year, and is preparing to present new ambitious objectives during the next Capital Markets
Day in New York.