2021-12-08
http://w3.windfair.net/wind-energy/pr/39206-prysmian-q3-results-energy-transition-cables-finances-investment-order-book-intake-usa

News Release from Prysmian Group

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Results for the first nine months of 2021 recovered sharply

Record order book at €4 billion Order intake at €2.3 billion YTD, with an acceleration in the USA

Image: PixabayImage: Pixabay

The Board of Directors of Prysmian S.p.A. has approved today the Group's consolidated results for the first nine months of 2021.

“The results for the first nine months of 2021 confirmed we have returned to pre-pandemic levels,” commented Chief Executive Officer Valerio Battista. “The recovery was positive across all businesses at a global level, with signs of further improvement in the third quarter. In particular, the Energy segment continued to show resilience and good recovery capacity. Telecom improved as well, driven by the demand recovery, chiefly in the USA, and by a better demand-supply balance in China. Projects resumed positive organic growth, with projections for a strong recovery in the fourth quarter. The strong organic sales growth was accompanied by a marked increase in Adjusted EBITDA and an improvement of margins, achieved also thanks to our customer focus and operating efficiencies that limited the impact of the increase in raw material prices and shipping costs. The recent mega projects in the United States have brought the total value of projects acquired year-to-date to €2.3 billion, confirming the leading role our Group is playing in the energy infrastructure development and upgrade plans. Although we confirm the prudence inherent in our management approach, I am confident we will be able to achieve the high end of the Adjusted EBITDA target range (€920 million-€970 million) set for FY 2021”.

To read all about the results, please visit the Prysmian website.

Source:
Prysmian Group
Author:
Press Office
Link:
www.prysmiangroup.com/...
Keywords:
Prysmian, Q3, results, energy transition, cables, finances, investment, order book, intake, USA



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