Prysmian S.p.a. · MIL:PRY
Prysmian — Prysmian S.P.A. Ord — Q1 2025 Earnings Presentation
29 slides from Prysmian's earnings presentation, May 8, 2025
Slide 1: Q1 2025 Integrated Results
PRYSMIAN Q1 2025 INTEGRATED RESULTS 8.05.2025
Slide 2: Highlights & Group Overview
Q1 2025 INTEGRATED RESULTS HIGHLIGHTS & GROUP OVERVIEW
Slide 3: Q1 2025 Key Highlights
Q1 2025 KEY HIGHLIGHTS Continuing to delivery STRONG GROWTH WITH SOLID MARGINS Solid margins and strong cash generation LTM ESG Performance ADJ. EBITDA 540 518 527 GHG emissions LTM Brought forward from 457 Adj. EBITDA Adj. EBITDA % at standard metal prices (Scope 1&2 vs 2019) the previous 2050 412
Slide 4: Transmission: Excellent Performance, Growth & Margin Improvement
TRANSMISSION EXCELLENT PERFORMANCE, GROWTH & MARGIN IMPROVEMENT Smooth execution and better mix. Backlog at approx. 17 €Bn Q1 RESULTS ADJ. EBITDA SEQUENTIALLY EVOLUTION REVENUES ADJUSTED EBITDA Org. Growth 743 124 124 119 474 62 Adj. Ebitda % Adj. Ebitda % 13.1% 16.9% at standard 14.5% 16.9% at stan
Slide 5: Power Grid: Robust Margin Confirmed
POWER GRID ROBUST MARGIN CONFIRMED Q1 RESULTS ADJ. EBITDA SEQUENTIALLY EVOLUTION REVENUES ADJUSTED EBITDA Org. Growth 852 874 115 116 117 116 Adj. Ebitda % Adj. Ebitda % 14.8% 15.2% at standard 15.4% 15.2% at standard metal prices metal prices Q1 2024 Q1 2025 Q1 2024 Q1 2025 Q4 2024 Q1 2025 Adj. Ebi
Slide 6: Industrial & Construction: Slow Start in January and February, Solid March
INDUSTRIAL & CONSTRUCTION SLOW START IN JANUARY AND FEBRUARY, SOLID MARCH Q1 RESULTS ADJ. EBITDA SEQUENTIALLY EVOLUTION REVENUES ADJUSTED EBITDA Org. Growth 173 185 173 1,923 114 1,193 Adj. Ebitda % Adj. Ebitda % 11.3% 11.6% at standard 12.9% 11.6% at standard metal prices metal prices Q1 2024 Q1 20
Slide 7: Specialties: Sound Sequential Improvement Across Businesses
SPECIALTIES SOUND SEQUENTIAL IMPROVEMENT ACROSS BUSINESSES Q1 RESULTS ADJ. EBITDA SEQUENTIALLY EVOLUTION REVENUES ADJUSTED EBITDA Org. Growth 762 777 85 74 74 59 Adj. Ebitda % Adj. Ebitda % 12.6% 11.5% at standard 9.6% 11.5% at standard metal prices metal prices Q1 2024 Q1 2025 Q1 2024 Q1 2025 Q4 20
Slide 8: Digital Solutions: Positive Start of the Year. Strong Profitability
DIGITAL SOLUTIONS POSITIVE START OF THE YEAR. STRONG PROFITABILITY Q1 RESULTS ADJ. EBITDA SEQUENTIALLY EVOLUTION REVENUES ADJUSTED EBITDA Org. Growth 339 312 42 42 40 32 Adj. Ebitda % Adj. Ebitda % 10.8% 13.2% at standard 13.2% 13.2% at standard metal prices metal prices Q1 2024 Q1 2025 Q4 2024 Q1 2
Slide 9: Q1 2025 ESG Highlights
Q1 2025 ESG HIGHLIGHTS 42.9% revenues linked to sustainable solutions vs 43.1% in FY 2024 Circular economy 18.8% recycled content on PE jacket and copper vs 16.2% in FY 2024 Social Climate 19.5% Executive women ambition ambition -37% reduction of Scope 1&2 GHG Emissions LTM* vs 19.2% in FY 2024 vs 3
Slide 10: Financial Results
Q1 2025 INTEGRATED RESULTS FINANCIAL RESULTS Pier Francesco Facchini Prysmian CFO
Slide 11: Profit & Loss Statement
PROFIT & LOSS STATEMENT Q1 2025 Q1 2024 REVENUES 4,771 3,687 YoY organic growth 5.0% Adj.EBITDA 527 412 % on revenues at current metal prices 11.0% 11.2% % on revenues at standard metal prices 13.1% 12.4% Adj.EBIT 377 312 % on revenues 7.9% 8.5% Adjustments (20) (19) Non monetary items (72) (6) EBIT
Slide 12: Excellent Cash Generation
EXCELLENT CASH GENERATION +998 €M Free Cash Flow 4,126 ( 357 ) ( 1,557 ) 227 210 ( 19 ) 193 847 ( 479 ) 4,884 1,693 31-Mar-24 Acquisition Convertible Cash flow WC Net Financial Dividend Dividend IFRS 16, FX, 31-Mar-25 net debt Bonds, Share operations changes Operative Charges received paid Other net
Slide 13: 2025 Outlook & Closing Remarks
Q1 2025 INTEGRATED RESULTS 2025 OUTLOOK & CLOSING REMARKS
Slide 14: 2025 Guidance Confirmed
2025 GUIDANCE CONFIRMED ADJ. EBITDA 2,300 2025 TARGET (€M) 2,250 2,350 Mid-point FCF 2025 1,000 TARGET (€M) 950 1,050 Mid-point GHG EMISSIONS Scope 1&2 -38% / -40% 2025 vs. 2019 Channell contribution not yet included in the guidance 14
Slide 15: Closing Remarks
CLOSING REMARKS 1. Excellent performance in Transmission CHANNELL Prysmian’s first major acquisition in Digital Solutions 2. Outstanding cash generation at 2024 REVENUES BREAKDOWN approx. €1 billion LTM USA 3. Channell acquisition on track, closing expected in Q2 >90% 4. 2025 outlook confirmed Vault
Slide 16: Appendix
Appendix Oo prysmian 16
Slide 17: Financial Highlights
FINANCIAL HIGHLIGHTS Revenues Adj.EBITDA Q1 2025 Q1 2024 Q1 2025 Q1 2024 organic Adj.EBITDA Adj.EBITDA €M €M €M €M growth Margin Margin TRANSMISSION 743 57.2% 474 124 16.6% 62 13.0% POWER GRID 874 -2.2% 852 116 13.3% 115 13.5% INDUSTRIAL & CONSTRUCTION 1,923 -1.0% 1,193 173 9.0% 114 9.5% SPECIALTIES
Slide 18: 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 743 124 16.6% 733 124 16.9% POWER GRID 874 116 13.3% 759 116 15.2% ELECTRIFICATION 2,815 245 8.7% 2,222 245 11.0% Q1 I&C 1,923
Slide 19: Solid Financial Structure
SOLID FINANCIAL STRUCTURE Average debt maturity of 4.1 years (including Revolving Credit Facility) CURRENT FINANCIAL DEBT MATURITY PROFILE (7) €M Bank Bond Sust. linked RCF (undrawn) Fixed/Variable rate composition 2,544 700 Fixed ~80% 1,200 Variable ~20% 850 SUST. 650 LINKED TL 2022 EUROBOND 3.625%
Slide 20: Profit & Loss Statement
PROFIT & LOSS STATEMENT Q1 2025 Q1 2024 Adjustments and non monetary items on EBIT REVENUES 4,771 3,687 YoY total growth 29.4% Q1 2025 Q1 2024 YoY organic growth 5.0% Non-recurring Items (2) (2) Adj.EBITDA 527 412 Restructuring (6) (19) % on revenues at current metal prices 11.0% 11.2% Other Non-ope
Slide 21: Statement of Financial Position (Balance Sheet)
STATEMENT OF FINANCIAL POSITION (BALANCE SHEET) 31-Mar-25 31-Mar-24 31-Dec-24 Net fixed assets 9,917 5,798 10,097 of which: goodwill 3,388 1,681 3,499 Net working capital 1,489 1,264 890 of which: derivatives assets/(liabilities) 70 45 81 of which: Operative Net working capital 1,419 1,219 809 Provi
Slide 22: Cash Flow Statement
CASH FLOW STATEMENT 31-mar-25 31-mar-24 12 Months (from 1/4/2024 to 31/3/2025) Adj.EBITDA 527 412 2,042 Adjustments (20) (19) (174) EBITDA 507 393 1,868 Net Change in provisions & others (18) (9) (9) Share of income from investments in op.activities (7) (15) (33) Cash flow from operations (before WC
Slide 23: Bridge Consolidation Revenues
Bridge consolidation revenues TRANSMISSION POWER GRID INDUSTRIAL & CONSTRUCTION* 271 2 (4) ( 18 ) 35 5 ( 18 ) 143 22 743 852 Org.growth 874 Org.growth Org.growth 1,776 1,923 474 +57.2% -2.2% -1.0% Q1 2024 Organic Metal Exchange Q1 2025 Q1 2024 Organic Metal Exchange Q1 2025 Q1 2024 Organic Metal Exc
Slide 24: A Truly Public Company, Based on Inclusion
A TRULY PUBLIC COMPANY, BASED ON INCLUSION PRYSMIAN SHAREHOLDING STRUCTURE INSTITUTIONAL INVESTORS 3% Employees and Directors 7.5% Retail 3% Treasury shares 43% ESG investors US 31% UK 26% France 12% 86.5% Rest of EU 11% Italy 6% Germany 5% Institutional Investors Switzerland 3% RoW 6% 24
Slide 25: We Innovate to Support Our Customers and Go Beyond the Value Chain
We innovate to support our Sirocco Extreme customers and E3X Robot to go beyond the value chain Circular economy Alesea Megawatt charging solutions Product Supply chain design digitalization Smart accessories PRY-ID All Ground Selection of innovative solutions 25
Slide 26: Sustainability Development Goals
SUSTAINABILITY DEVELOPMENT GOALS 20 40 60 80 100 CCC B BB BBB A AA AAA 20 40 60 80 100 80 A 76 1 2 3 4 5 2 4 6 8 10 10 20 30 40 We are included in 4.0 6.1 16 200 150 100 50 20 40 60 80 100 D- D C- C B- B A- A 66 58 A- 26
Slide 27: Notes
Notes 1) Adjusted EBITDA margin at the standard metal • 2025: CDP (75 €M) prices calculation takes into account set standard • 2029: EIB 2022 (135 €M); CDP 2023 (120 €M); MB prices for copper (€5,500 per ton), aluminum (€1,500 (150 €M); UCG (150 €M); Encore Wire TL (989 €M); per ton) and lead (€2,00
Slide 28: 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 29: Thank You
THANK YOU The planet’s pathways