Italy's Prysmian H1 revenue rises, lifts FY outlook
Italy's Prysmian H1 revenue rises, lifts FY outlook
Overview
Italy cable maker's H1 revenue grew 7.2% yr/yr, driven by strong organic growth
Adjusted EBITDA for H1 rose 17.6% yr/yr, with margin up to 14.8%
Company raised FY guidance for adjusted EBITDA and free cash flow
Outlook
Prysmian sees FY adjusted EBITDA between EUR2.8 bln and EUR2.9 bln, up from prior guidance
Company expects FY free cash flow between EUR1.65 bln and EUR1.75 bln, raised from prior forecast
Company expects continued profitability in Transmission and Power Grid in H2
Result Drivers
TRANSMISSION GROWTH - Double-digit organic growth and record profitability in Transmission, with margin at 21.2% and key project wins
POWER GRID EXPANSION - Strong organic growth across all regions in Power Grid, with margin improvement and sequential gains
DATA CENTER DEMAND - Industrial & Construction segment saw strong organic growth, driven by data center demand in North America
Company press release: ID:nBIA4z7V9f
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Net Income |
| EUR 584 mln |
|
H1 Adjusted EBITDA |
| EUR 1.33 bln |
|
H1 Free Cash Flow |
| EUR 978 mln |
|
H1 Net Debt |
| EUR 4.08 bln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 8 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the electrical components & equipment peer group is "buy"
Wall Street's median 12-month price target for Prysmian SpA is €153.00, about 33.4% above its July 29 closing price of €114.70
The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 21 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)