12/05/2022 14:54
Prysmian closed the first quarter of 2022 with growing accounts. In detail, the group active in the cable systems sector for energy and telecommunications closed the first three months of the year with group revenues amounted to 3.68 billion euros, with an organic change of + 11.4% (excluding the Project segment), recording positive performances in almost all business and geographical areas. The figure is higher than the Bloomberg consensus which indicated a turnover of 3.33 billion. In the period under review, the adjusted Ebitda jumped 288 million (+ 35.2%) and the net profit of the group rose to 126 million (+ 65.8%).
As for the forecasts for the full year 2022, the group expects to achieve an adjusted Ebitda in the range of 1,010-1,080 million and to position itself in the upper part of this range, with a significant improvement compared to the 976 million recorded in 2021.
“It was an excellent start to the year with record revenues and profitability – comments the CEO of Prysmian, Valerio Battista. Well-balanced business portfolio and geographic footprint differentiation, together with supply chain management efficiency, are confirmed as drivers of resilience and growth. The Energy and Telecom business segments, in particular, continue to record robust performances, allowing us to counter the impact of inflation, also thanks to selective growth choices. In the Projects segment, where in the first quarter alone we acquired new orders for over € 1.4 billion, activities are expected to accelerate in the second half. We can therefore look with confidence at the objectives we have set for the entire 2022 financial year, forecasting an Adjusted Ebitda in the upper part of the range communicated to the market “.