Prysmian up on new copper US tariff scheme giving competitive advantage

Prysmian SpA

31/07/2025 11:22

** Shares in Italy's Prysmian PRY.MI rise as much as 4.6% after the announcement of new copper tariff set-up in the U.S. which sets levies on foreign-made cables

** CEO Massimo Battaini told analysts the new copper tariff would increase costs for importers of cables from countries such as Mexico, India, Korea, which until were exempted from the 50% levy

** "We will not suffer the same cost disadvantage that those importers are going to suffer," he said, presenting Prysmian's second-quarter results and guidance upgrade for 2025, adding this will allow them to keep prices high

** A Milan-based trader confirms stock is up as the copper tariffs benefit the group with plants in the U.S.

** Shares are up 3.2% to 70.7 euros ($80.87) at 0953 GMT, after rising as much as 4.6%, highest since February 19

** Including today's rise, stock up 14.21% YTD

** Equita says strong results are driven by group's Power Grid and Digital Solutions divisions, with adjusted EBITDA rising 32% y/y

** Brokerage notes slight decline in key Transmission business backlog to 16 billion euros from 17 billion euros in the first quarter, despite overall solid results

** "We do not expect any significant changes in our estimates and consensus estimates from the results," Equita adds

($1 = 0.8743 euros)

 (Reporting by Laura Contemori, Claudia Cristoferi)

 ((Laura.contemori@thomsonreuters.com))