Prysmian S.p.a. · MIL:PRY
Prysmian — Prysmian S.P.A. Ord — Q2 2026 Earnings Presentation
31 slides from Prysmian's earnings presentation, Jul 30, 2026
Slide 1: Prysmian's Quarterly Update Q2'26
Prysmian's Quarterly Update Q2'26
Slide 2: Highlights & Group Overview
Highlights & Group Overview Massimo Battaini Prysmian CEO
Slide 3: Q2'26 Key Highlights
Q2’26 Key Highlights Growth Acceleration & Margin Expansion. Best-yet quarter 730€M 45.9 % Adjusted EBITDA Sustainability-linked Revenues 15.4 % -42.0 % Adjusted EBITDA % GHG emissions LTM (Scope 1&2 ) 9.4 % Organic growth & Hyperscalers Unlocking The Next Wave Of Growth 3
Slide 4: Outstanding progress, like never before
Outstanding progress, like never before ADJ. EBITDA EVOLUTION €M 693 699 605 730 ADJ. EBITDA 15.4% 14.5% @ Std metal 10.4% 6.9% FY 2018 1H 2022 Q2 2025 Q2 2026 What took 1 year now takes 1 quarter… 4
Slide 5: Digital Solutions transforms: long-term data center deals unlock growth
Digital Solutions transforms: long-term data center deals unlock growth Long-term visibility, customer commitments and access to the Inside Data centers market over €10 Shifting Optical exposure towards Transformative deals billion data centers & long-term visibility 1.1 Incremental €bn revenues Mor
Slide 6: Transmission: Excellent Performance
TRANSMISSION Excellent Performance Best-in-class margin and solid order intake in Q2. Backlog at €17Bn Q2 RESULTS REVENUES ADJUSTED EBITDA ADJ. EBITDA EVOLUTION +14.3% Org Growth 181 179 179 882 152 146 ADJ. EBITDA 125 743 125 17.1% 21.2% @ Std metal 17.1% 17.8% 20.9% 20.1% 21.2% @ Std metal Q2 2025
Slide 7: Power Grid: Outstanding double-digit growth across all regions
POWER GRID Outstanding double-digit growth across all regions +1.40p.p margin enhancement from Q1; Positive trajectory expected to continue Q2 RESULTS REVENUES ADJUSTED EBITDA +13.0% ADJ. EBITDA EVOLUTION Org Growth 1,206 134 135 134 135 125 ADJ. EBITDA 991 105 107 15.6% 13.8% @ Std metal 15.6% 14.7
Slide 8: Industrial & Construction: Growth acceleration and solid profitability
INDUSTRIAL & CONSTRUCTION Growth acceleration and solid profitability Strong data center driving organic growth (+13.4% in Q2 in North America) and margin expansion Q2 RESULTS REVENUES ADJUSTED EBITDA +9.1% ADJ. EBITDA EVOLUTION Org Growth 228 2,396 212 228 208 202 ADJ. EBITDA 208 196 1,878 14.1% 13
Slide 9: Specialties: Resilient profitability despite market conditions
SPECIALTIES Resilient profitability despite market conditions Q2 RESULTS REVENUES ADJUSTED EBITDA ADJ. EBITDA EVOLUTION -2.4% Org Growth 74 813 70 67 74 64 ADJ. EBITDA 67 61 774 11.4% 10.8% @ Std metal 11.4% 11.2% 10.4% 11.1% 10.8% @ Std metal Q2 2025 Q2 2026 Q2 2025 Q2 2026 Q2'25 Q3'25 Q4'25 Q1'26
Slide 10: Digital Solutions: Excellent Performance, Margin Improvement & Growth acceleration
DIGITAL SOLUTIONS Excellent Performance, Margin Improvement & Growth acceleration Optical business and Channell unlock outstanding growth and margins. Major strides underway as Digital Solutions transforms Q2 RESULTS REVENUES ADJUSTED EBITDA ADJ. EBITDA EVOLUTION +18.0% Org Growth 540 122 122 ADJ. E
Slide 11: 1H 2026 Innovation Highlights
1H 2026 Innovation Highlights 25.0% Recycled content vs 21.8%,FY25 Hollow Core Fiber to make AI Data Centers more sustainable 45.9% Sustainability- linked revenues vs 43.7%,FY25 New burial tool for submarine cables 32.1% New product and Beating solutions vitality 2028 target vs 28.3%,FY25 2 years in
Slide 12: Financial Results
Financial Results Pier Francesco Facchini Prysmian CFO
Slide 13: Profit & Loss Statement
Profit & Loss Statement (7) 1H 2026 1H 2025 ADJ. EBITDA BREAKDOWN [€M] REVENUES 11,239 9,654 YoY organic growth 7.2% Q1 Q2 1H Adj.EBITDA 1,331 1,132 ADJ. EBITDA 2025 527 605 1,132 % on revenues at current metal prices 11.8% 11.7% % on revenues at standard metal prices 14.8% 13.8% Transmission 23 54
Slide 14: Solid Cash Generation LTM
Solid Cash Generation LTM +€978 M Free Cash Flow 328 ( 2,099 ) 268 52 ( 580 ) 216 (8) 295 703 210 4,694 4,079 30-Jun-25 Acquisition Cash flow WC Net Financial Dividend Dividend Hybrid Net cash flow IFRS 16, FX, 30-Jun-26 net debt operations changes Operative Charges received paid Bond from YOFC & Ot
Slide 15: 2026 Outlook & Closing Remarks
2026 Outlook & Closing Remarks Massimo Battaini Prysmian CEO
Slide 16: Accelerating Growth: Upgrading 2026 Outlook
Accelerating Growth: Upgrading 2026 Outlook PREVIOUS OUTLOOK 2,850 ADJ. EBITDA 2,800 2,900 2,625 2,700 2,775 (€M) Mid-point Mid-point 1,350 1,700 1,300 1,400 Mid-point FCF (€M) 1,650 Mid-point 1,750 47% - 49% 47% - 49% Sustainability- as a % of total group revenues linked revenues as a % of total gr
Slide 17: Closing Remarks
Closing Remarks Best-yet quarterly performance Prysmian cements its leadership as underlines success of a one-stop shop for data centers Accelerating Growth strategy Investing for growth Acceleration beyond 2028 targets Increasing 2026 capex to unlock New CMD in 1H27 growth & value creation 17
Slide 18: Appendix
Appendix 18
Slide 19: Q2 Financial Highlights
Q2 Financial Highlights Revenues Adj.EBITDA Q2 2026 Q2 2025 Q2 2026 Q2 2025 organic Adj.EBITDA Adj.EBITDA €M €M €M €M growth Margin Margin TRANSMISSION 882 14.3% 743 179 20.3% 125 16.9% POWER GRID 1,206 13.0% 991 135 11.2% 134 13.6% INDUSTRIAL & CONSTRUCTION 2,396 9.1% 1,878 228 9.5% 208 11.1% SPECI
Slide 20: 1H Financial Highlights
1H Financial Highlights Revenues Adj.EBITDA 1H 2026 1H 2025 1H 2026 1H 2025 organic Adj.EBITDA Adj.EBITDA €M €M €M €M growth Margin Margin TRANSMISSION 1,636 7.3% 1,486 325 19.9% 249 16.8% POWER GRID 2,218 14.5% 1,865 242 10.9% 250 13.4% INDUSTRIAL & CONSTRUCTION 4,556 7.4% 3,801 424 9.3% 381 10.0%
Slide 21: Revenues at Standard Metal Prices
Revenues at Standard Metal Prices Revenues current Revenues Standard Revenues Adj. Ebitda Adj. Ebitda Revenues Adj. Ebitda Adj. Ebitda €M €M margin €M €M margin TRANSMISSION 1,636 325 19.9% 1,573 325 20.7% POWER GRID 2,218 242 10.9% 1,851 242 13.1% ELECTRIFICATION 6,394 554 8.7% 4,621 554 12.0% 1H I
Slide 22: 1H 2026 Sustainability Highlights
1H 2026 Sustainability Highlights 32.1% New Product & Solutions vitality vs 28.3% in FY 2025 45.9% Sustainability-linked revenues vs 43.7% in FY 2025 Innovation 25.0% Recycled content in addressable materials 41.4% of desk workers women hired vs 21.8% in FY 2025 vs 48.4% in FY 2025 21.1% Executive w
Slide 23: Solid Financial Structure
Solid Financial Structure 3.4 Years Average Debt Maturity (Including Revolving Credit Facility) CURRENT FINANCIAL DEBT MATURITY PROFILE (8) €M Bank Bond RCF (undrawn) Fixed/Variable rate composition 1,494 1,200 Fixed ~74% Variable 850 ~26% 725 1,200 345 EUROBOND EUROBOND 3.625% 3.875% 198 100 2026 2
Slide 24: Profit & Loss Statement
Profit & Loss Statement (7) Adjustments and non monetary items on EBIT 1H 2026 1H 2025 REVENUES 11,239 9,654 1H 2026 1H 2025 YoY total growth 16.4% Non-recurring Items (11) (2) YoY organic growth 7.2% Adj.EBITDA 1,331 1,132 Restructuring (40) (8) % on revenues at current metal prices 11.8% 11.7% Oth
Slide 25: Statement Of Financial Position
Statement Of Financial Position (Balance Sheet) (7) (7) 30-Jun-26 30-Jun-25 31-Dec-25 Net fixed assets 11,017 10,560 10,591 of which: goodwill 3,864 4,018 3,645 Net working capital 1,774 1,110 545 of which: derivatives and tax assets/liabilities 163 (62) 109 of which: Operative Net working capital 1
Slide 26: Cash Flow Statement
Cash Flow Statement 12 Months (7) 30-Jun-26 30-Jun-25 (from 7/1/2025 to 6/30/2026) Adj.EBITDA 1,331 1,132 2,597 Adjustments (55) 2 233 EBITDA 1,276 1,134 2,830 Net Change in provisions & others 15 (16) (20) Net gains realized on disposal of fixed assets & equity investments - (29) (361) Other not op
Slide 27: Bridge Consolidation Revenues
Bridge Consolidation Revenues TRANSMISSION POWER GRID INDUSTRIAL & CONSTRUCTION 150 ( 67 ) 626 ( 154 ) 109 29 (2) 14 270 283 Org.growth 1,636 Org.growth 2,218 Org.growth 4,556 1,486 +7.3% 1,865 +14.5% 3,801 +7.4% 1H 2025 Organic Metal Exchange Perimeter 1H 2026 1H 2025 Organic Metal Exchange 1H 2026
Slide 28: Sustainability Development Goals
Sustainability Development Goals 20 40 60 80 100 CCC B BB BBB A AA AAA 20 40 60 80 100 86 AA 77 1 2 3 4 5 2 4 6 8 10 10 20 30 40 We are included in 4.4 6.4 17.6 200 150 100 50 20 40 60 80 100 D- D C- C B- B A- A 45 58 A 28
Slide 29: Notes
Notes 1) Adjusted EBITDA margin at the standard metal 30.06.2026): prices calculation takes into account set standard • 2027: TL 2022 ESG Linked (1,200 €M) prices for copper (€5,500 per ton), aluminum (€1,500 • 2029: EIB 2022 (135 €M); CDP 2023 (120 €M); MB per ton) and lead (€2,000 per ton) over a
Slide 30: Disclaimer
Disclaimer ▪ The managers responsible for preparing the forward-looking statements. This document does company's financial reports, A.Brunetti and not represent investment advice or a S.Invernici, declare, pursuant to paragraph 2 of recommendation for the purchase or sale of Article 154-bis of the C
Slide 31: Thank You
Thank You The planet’s pathways