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Cables supplier will present four business lines during its Capital Markets Day Prysmian will today present plans to focus its strategy around four, as opposed to three, segments to “align with market dynamics of renewable transmission, power grid, electrification and digital solutions”. Details of the strategic plan will be announced during Prysmian Groups Capital Markets Day (CMD), which will be held in Naples. Prysmian will reshape its business into four new segments from the existing three. The first, which is the renewable transmission segment, includes the submarine power and the land HVDC business units, currently belonging to the projects segment. The second, power grid, includes HVAC business unit, also previously in projects, and power distribution and overhead lines, currently in the energy segment. The third, electrification, includes industrial and construction (former trade and installer) and specialties (formerly in Industrial and NWC), currently in the energy segment. The fourth, digital solutions, includes the business units fibre and optical cables, connectivity, multimedia and inside plant cables. Prysmian expects to increase adjusted EBITDA from €1.49bn in 2022 to €2bn by 2027, with a target range of +/- €100m. The strategy anticipates the selective acceleration of investments to meet growing demand, in particular in the segments of renewable transmission and power grid, over the period 2023-2027. Capital expenditure will grow to €2.7bn and free cash flow is expected to grow to €900m to €1bn in 2027 from €559m in 2022. |
