Prysmian S.p.a. · MIL:PRY
Prysmian — Prysmian S.P.A. Ord — Q3 2025 Earnings Presentation
30 slides from Prysmian's earnings presentation, Oct 30, 2025
Slide 1: 9M 2025 Integrated Results
PRYSMIAN 9M 2025 INTEGRATED RESULTS 30.10.2025
Slide 2: Highlights & Group Overview
9M 2025 INTEGRATED RESULTS HIGHLIGHTS & GROUP OVERVIEW
Slide 3: 9M 2025 Key Highlights
9M 2025 KEY HIGHLIGHTS GROWTH ACCELERATION AND MARGINS EXPANSION. Q3’25 BEST QUARTER EVER ADJ. EBITDA 9M RESULTS 644 605 1,776 14.1 % -39% 540 518 527 €M Adj. EBITDA Adj. EBITDA % at GHG emissions LTM standard metal prices (Scope 1&2 vs 2019) 5.7% 9M 1,022 20.7% 13.8% 12.7% 13.1% 14.5% 14.8% @ Std m
Slide 4: Transmission: Outstanding Performance
TRANSMISSION OUTSTANDING PERFORMANCE Backlog at approx. 16 €Bn. Approx. 3 bn of projects awarded not yet in the backlog Q3 RESULTS 9M RESULTS REVENUES ADJUSTED EBITDA 1,687 2,363 REVENUES Org. Growth Org. Growth 877 152 401 ADJ. EBITDA 603 92 242 15.3% 17.8% @ Std metal 14.5% 17.3% @ Std metal Q3 20
Slide 5: Power Grid: Growth Acceleration and Solid Margin
POWER GRID GROWTH ACCELERATION AND SOLID MARGIN North America and EMEA driving growth Q3 RESULTS 9M RESULTS REVENUES ADJUSTED EBITDA 2,680 2,850 REVENUES Org. Growth Org. Growth 357 375 985 119 125 ADJ. EBITDA 878 15.2% 14.7% @ Std metal 14.9% 15.2% @ Std metal Q3 2024 Q3 2025 Q3 2024 Q3 2025 9M 202
Slide 6: Industrial & Construction: Positive Growth and Margin Expansion
INDUSTRIAL & CONSTRUCTION POSITIVE GROWTH AND MARGIN EXPANSION Excellent performance in North America (10% YOY in Q3), partly offset by other geographies Q3 RESULTS 9M RESULTS REVENUES ADJUSTED EBITDA 4,336 5,652 REVENUES Org. Growth Org. Growth 1,836 1,851 211 212 593 ADJ. EBITDA 435 14.5% 14.5% @
Slide 7: Specialties: Overall Stable Results in Q3
SPECIALTIES OVERALL STABLE RESULTS IN Q3 Automotive and Elevators negatively impacting growth Q3 RESULTS 9M RESULTS REVENUES ADJUSTED EBITDA 2,320 2,281 REVENUES Org. Growth Org. Growth 768 730 251 ADJ. EBITDA 218 72 70 11.1% 11.2% @ Std metal 12.6% 11.4% @ Std metal Q3 2024 Q3 2025 Q3 2024 Q3 2025
Slide 8: Digital Solutions: Excellent Performance
DIGITAL SOLUTIONS EXCELLENT PERFORMANCE Sound contribution from Channell (consolidated from June) Q3 RESULTS 9M RESULTS REVENUES ADJUSTED EBITDA 985 1,192 REVENUES Org. Growth Org. Growth 466 193 88 ADJ. EBITDA 329 121 45 14.3% 19.6% @ Std metal 12.9% 16.9% @ Std metal Q3 2024 Q3 2025 Q3 2024 Q3 202
Slide 9: 9M 2025 ESG Highlights
9M 2025 ESG HIGHLIGHTS 44.4% revenues linked to sustainable solutions vs 43.1% in FY 2024 Circular economy 20.7% recycled content on PE jacket and copper 44.2% of desk workers women hired vs 16.2% in FY 2024 vs 47.5% in FY 2024 20.5% Executive women Social Climate ambition ambition -39% reduction of
Slide 10: Financial Results
9M 2025 INTEGRATED RESULTS FINANCIAL RESULTS Pier Francesco Facchini Prysmian CFO
Slide 11: Profit & Loss Statement
PROFIT & LOSS STATEMENT (7) 9M 2025 9M 2024 REVENUES 14,684 12,362 ADJ. EBITDA BRIDGE YoY organic growth 5.7% (1.4%) Adj.EBITDA 1,776 1,409 % on revenues at current metal prices 12.1% 11.4% Q1 Q2 Q3 9M % on revenues at standard metal prices 14.1% 13.0% ADJ. EBITDA 2024 412 457 540 1,409 Adj.EBIT 1,3
Slide 12: Solid Cash Generation
SOLID CASH GENERATION +859 €M Free Cash Flow 928 210 ( 1,880 ) 239 ( 970 ) 779 226 ( 10 ) ( 566 ) 26 294 5,042 4,318 30-Sep-24 Acquisition Share Buy- Cash flow WC Net Financial Dividend Dividend Hybrid Net cash IFRS 16, FX, 30-Sep-25 net debt Back operations changes Operative Charges received paid B
Slide 13: 2025 Outlook & Closing Remarks
9M 2025 INTEGRATED RESULTS 2025 OUTLOOK & CLOSING REMARKS
Slide 14: Upgrading Outlook 2025
UPGRADING OUTLOOK 2025 2025 ADJ. EBITDA GUIDANCE EVOLUTION ADJ. EBITDA 2,400 2025 TARGET (€M) 2,375 2,425 2,400±25 Mid-point 2,300±50 ~ 2,340±40 FCF 2025 1,075 1,927 TARGET (€M) 1,025 1,125 Mid-point GHG EMISSIONS Scope 1&2 -38% / -40% FY OLD PRYSMIAN CHANNELL FOREX 2025 vs. 2019 2024 FEBRUARY JULY
Slide 15: Q3 Summary
Q3 SUMMARY Excellent performance, with further margin expansion at 14.8% Sound execution and order intake in Transmission Channell acquisition driving margins expansion North America and Transmission driving outlook upgrade 15
Slide 16: Appendix
Appendix 16 prysmian D
Slide 17: On Track for 2028 Targets
ON TRACK FOR 2028 TARGETS 2028 targets Profitability Strong cash flow Superior Solutions enhancement generation shareholder return provider Adj. EBITDA (€bn) Free Cash Flow (€bn) 2024-2028E EPS CAGR Solutions (as % of Revenue) 17
Slide 18: 9M Financial Highlights
9M FINANCIAL HIGHLIGHTS Revenues Adj.EBITDA 9M 2025 9M 2024 9M 2025 9M 2024 organic Adj.EBITDA Adj.EBITDA €M €M €M €M growth Margin Margin TRANSMISSION 2,363 38.3% 1,687 401 17.0% 242 14.4% POWER GRID 2,850 6.0% 2,680 375 13.2% 357 13.3% INDUSTRIAL & CONSTRUCTION 5,652 -0.9% 4,336 593 10.5% 435 10.0
Slide 19: Q3 Financial Highlights
Q3 FINANCIAL HIGHLIGHTS Revenues Adj.EBITDA Q3 2025 Q3 2024 Q3 2025 Q3 2024 organic Adj.EBITDA Adj.EBITDA €M €M €M €M growth Margin Margin TRANSMISSION 877 39.0% 603 152 17.3% 92 15.3% POWER GRID 985 14.8% 878 125 12.7% 119 13.6% INDUSTRIAL & CONSTRUCTION 1,851 2.0% 1,836 212 11.5% 211 11.5% SPECIAL
Slide 20: 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 2,363 401 17.0% 2,319 401 17.3% POWER GRID 2,850 375 13.2% 2,475 375 15.2% ELECTRIFICATION 8,279 807 9.7% 6,618 807 12.2% 9M I
Slide 21: Solid Financial Structure
SOLID FINANCIAL STRUCTURE Average debt maturity of 3.9 years (including Revolving Credit Facility) CURRENT FINANCIAL DEBT MATURITY PROFILE (8) €M Bank Bond Sust. linked RCF (undrawn) Fixed/Variable rate composition 1,466 1,200 Fixed ~80% 850 Variable 650 ~20% 1,000 SUST. LINKED EUROBOND EUROBOND 198
Slide 22: Hybrid Bond – Accounting Treatment
HYBRID BOND – ACCOUNTING TREATMENT Account Debit Credit Account Debit Credit Cash* 1,000 Cash* 1,000 Key terms Equity 1,000 Equity 500 Balance NFD 500 Sheet Issuance Details: No financial debt • Type: subordinated 50% financial debt and 50% component (100% treated equity • Maturity : perpetual as eq
Slide 23: Profit & Loss Statement
PROFIT & LOSS STATEMENT Adjustments and non monetary items on EBIT (7) 9M 2025 9M 2024 (7) 9M 2025 9M 2024 REVENUES 14,684 12,362 Non-recurring Items (16) (7) YoY total growth 18.8% 4.5% YoY organic growth 5.7% (1.4%) Restructuring (16) (59) Adj.EBITDA 1,776 1,409 Other Non-operating Income / (Expen
Slide 24: Statement of Financial Position (Balance Sheet)
STATEMENT OF FINANCIAL POSITION (BALANCE SHEET) (7) 30-Sep-25 30-Sep-24 31-Dec-24 Net fixed assets 10,348 9,410 10,097 of which: goodwill 4,012 3,274 3,499 Net working capital 1,586 1,887 890 of which: derivatives assets/(liabilities) 43 121 81 of which: Operative Net working capital 1,543 1,766 809
Slide 25: Cash Flow Statement
CASH FLOW STATEMENT 30-Sep-25 30-Sep-24 (7) 12 Months (from 1/10/2024 to 30/9/2025) Adj.EBITDA 1,776 1,409 2,294 Adjustments 323 (140) 290 EBITDA 2,099 1,269 2,584 Net Change in provisions & others (52) (30) (22) Net gains realized on disposal of equity accounted companies (392) - (392) Share of net
Slide 26: Bridge Consolidation Revenues
Bridge consolidation revenues TRANSMISSION POWER GRID INDUSTRIAL & CONSTRUCTION* 49 ( 18 ) 160 83 ( 73 ) ( 50 ) 243 ( 129) 645 Org.growth 2,363 2,680 Org.growth 2,850 5,588 Org.growth 5,652 +6.0% -0.9% 1,687 +38.3% 9M 2024 Organic Metal Exchange 9M 2025 9M 2024 Organic Metal Exchange 9M 2025 9M 2024
Slide 27: 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 17.2 200 150 100 50 20 40 60 80 100 D- D C- C B- B A- A 66 58 A- 27
Slide 28: Notes
Notes 1) Adjusted EBITDA margin at the standard metal (excluding debt held by affiliates and debt coming prices calculation takes into account set standard from IFRS 16 - 180 €M and 346 €M respectively - at prices for copper (€5,500 per ton), aluminum (€1,500 30.09.2025): per ton) and lead (€2,000 p
Slide 29: 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 30: Thank You
THANK YOU The planet’s pathways