Prysmian Group: Revenues up +4.8% and significantly FY 2023 guidance upgrade

SIGNIFICANT FY 2023 GUIDANCE UPGRADE:

• + €175 MLN ADJUSTED EBITDA and + €100 MLN FCF

NEW TARGETS:

• ADJUSTED EBITDA AT €1,575-€1,675M
• FREE CASH FLOW AT €550-650M

CAPITAL MARKET DAY ON 5 OCTOBER 2023

• Sales at €8,003M, organic growth at +4.8%
• Adjusted EBITDA up to €878M (+25.6% vs 1H 2022)
• Margins sharply up to 11.0% vs 8.8% in 1H 2022
• Group net profit increase to €405M (+56.4%)
• Strong cash generation with LTM Free Cash Flow at €567M

FOCUS ON THE BUSINESSES

• Projects: sales and margins on the rise (organic growth at +23.5%; margins at 11.0%). €5.4 bn orders received YTD
• Energy: organic growth driven by grid hardening and renewables (+3.4%)
• Telecom: volume slowdown (organic growth at -5.2%), resilient margins (14.8%)

CO₂ EMISSIONS (SCOPE 1&2) -9.8% vs 1H 2022. New targets approved by SBTi

INVESTMENT GRADE RATING assigned by S&P Global Ratings