In Piazza Affari sales on Prysmian which, after the purchases recorded in yesterday’s session, is currently down 2.52% today, thus finding itself at 38.62 euros per share.
Yesterday the group led by Paolo Gallo presented the record accounts for 2022, a period closed with marked growth in profitability and revenues.
In detail, Prysmian achieved revenues of over 16 billion euros in 2022, with organic growth of over 14%. In this sense, the jump in revenues is attributable to the growth of businesses most exposed to the trends of energy transition, electrification and digitization.
The group’s Ebitda stood at 1.38 billion, a marked increase compared to the 927 million achieved in 2021; while net income jumped by 63.4% reaching 504 million euro compared to the 308 million obtained in the previous year; with earnings per share of €1.9.
The generation of cash flows also allowed for a significant reduction in net financial debt which at the end of 2022 amounted to 1.4 billion against 1.7 billion at the end of 2021.
For 2023, the group’s guidance estimates an Adjusted Ebitda in a range between €1,375 million and €1,525 million; with a Free Cash Flow between €450 and €550 million.
Furthermore, the company has launched an investment plan for the period 2023-2025, providing for investments of up to approximately 500 million euros a year, as well as adjustments to production capacity and the new submarine cable plant in the USA.
Meanwhile, Equita analysts maintain a Hold rating (“keep in portfolio”) on Prysmian, with a target price set at 40.5 euros.
Following the results presented, Prysmian’s Board of Directors has proposed the distribution of a 2023 dividend, relating to the 2022 financial year, equal to 0.6 euro per share and for a total amount of 158 million euro. With this in mind, the coupon will be detached on 24 April 2023 and paid on 26 April.