Q3 2025 Prysmian SpA Earnings Call Transcript
Key Points
- Prysmian SpA (PRYMF) achieved a record EBITDA of EUR605 million in Q2 2025, surpassing previous records.
- The company reported a significant margin improvement to 14.5%, indicating strong performance across all business segments.
- Free cash flow over the last 12 months reached EUR1 billion, confirming solid cash flow generation.
- Prysmian SpA (PRYMF) is making strides in sustainability, with a 30% reduction in CO2 emissions compared to 2019 levels.
- The company is expanding its technological leadership with innovations like hollow core fiber technology, enhancing its growth prospects.
- The company faced an adverse foreign exchange impact in Q2 2025, affecting financial results.
- There is a softening in the automotive space, impacting the specialties segment's EBITDA margins.
- Prysmian SpA (PRYMF) experienced a negative impact from exchange rates and a softening in the residential elevator business in the US.
- The company is still in the process of disposing of two factories in the automotive space, indicating ongoing restructuring challenges.
- The backlog in transmission is slightly down sequentially, raising concerns about future order intake.
Thank you. Good morning and welcome to the first half, 25 result call. I'm very excited to show the results achieved in quarter 2, 25 above the EUR600 million. This set a new record for the company EBITDA. The last best quarter was quarter 2, 24, the first quarter after the consolidation anchor wire, EUR540 million, but EUR605 million is definitely an outstanding performance that is beaten and outperform the past results. It is true there is some EUR10 million plus from China perimeter changer.
But there is also an adverse ForEx impact in our quarter 2, 25 results versus the previous EUR540 million of quarter 3, 24. Amazing is the 14.5% in margins, indicating a significant accretion of margin across all business segment, transmission, power grid, but also INC and digital solution.
The organic growth in the first half posted a nice 4%, which is basically coming across all the ceme of business. EUR1 billion is the free cash flow over the last 12 months, confirming that we are solid in delivering
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