Prysmian’s financial results for the first nine months of 2024
Prysmian recently published financial results for the first nine months of 2024, showing group revenues of 12,362 million euros. Despite a slight decline in organic growth, which amounted to -1.4%, net profit showed a significant improvement, rising to 634 million euros, compared to 588 million in the same period of the previous year.
In addition, the profit attributable to the shareholders of the parent company increased to 619 million.
EBITDA growth and quarterly performance
Another positive aspect is represented by adjusted EBITDA, which registered an increase of 9.6%, reaching 1,409 million euros. In the third quarter alone, adjusted EBITDA rose by 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 the 2024 guidance
Massimo Battaini, CEO of Prysmian, emphasized that the company is continuing to improve margins and cash generation. The results obtained show that Prysmian is well positioned to pursue organic growth and improved margins. The company confirmed its guidance for 2024 and announced that the next Capital Markets Day will take place in New York City, followed by Encore Wire‘s visit to McKinney
, Texas.
In addition, Battaini highlighted the importance of the recent acquisition of Encore Wire, which had a positive impact on business performance. The cultural synergy between the two companies has been fundamental to the improvement of margins in Industrial & Construction, a sector that has shown significant growth
.
Economic context and impacts on the market
Despite Prysmian’s positive results, the economic environment remains complex, with a negative ending for Piazza Affari and other European stock exchanges. Investors are closely monitoring the trend in GDP and inflation, in addition to the quarterly results of the main technology companies. For example, the recent news of Super Micro’s 30% crash on Wall Street, following the resignation of Ernst & Young as auditor, has raised
concerns in the market.
In Germany, inflation accelerated beyond expectations, with consumer prices rising by 2.4% on a harmonized basis in October. The luxury sector is also showing signs of growth, with Prada announcing an 18% increase in net revenues, thanks to an exceptional performance of the Miu Miu brand
.