Brief: Prysmian CEO says Encore acquisition to add almost 2 pct point to group's adj EBITDA

Encore Wire

09/05/2024 09:34

May 9 (Reuters) - Prysmian Chief Executive Officer
Massimo Battaini tells analysts in a post-earnings call:
    * PRO FORMA COMBINED ADJUSTED EBITDA WITH ENCORE WIRE
AMOUNTED TO
2.1 BILLION EUROS IN 2023
    * PRO FORMA COMBINED MARGIN ON ADJUSTED EBITDA WITH ENCORE
WIRE AT
11.9% IN 2023, 12.4% CONSIDERING SYNERGIES
    * ENCORE WIRE ACQUISITION PROCESS PROCEEDING, WE DO NOT
EXPECT
MAJOR ISSUES
    * WE'RE WORKING TO CAPTURE EXPECTED SYNERGIES FROM ENCORE
WIRE
ACQUISITION FASTER THAN PREVIOUSLY ANTICIPATED
    * MARGIN ON ADJUSTED EBITDA EXPECTED TO GAIN ALMOST 2
PERCENT
POINTS FROM 2023'S 10.6% ONCE SYNERGIES FROM ENCORE WIRE ARE
CAPTURED

Further company coverage:  PRY.MI 
    

 (Reporting by Milan Newsroom)