Prysmian S.p.a. · MIL:PRY
Prysmian — Prysmian S.P.A. Ord — 1H 2025 Earnings Presentation
32 slides from Prysmian's earnings presentation, Jul 31, 2025
Slide 1: Prysmian 1H 2025 Integrated Results
PRYSMIAN 1H 2025 INTEGRATED RESULTS 31.07.2025
Slide 2: Highlights & Group Overview
1H 2025 INTEGRATED RESULTS HIGHLIGHTS & GROUP OVERVIEW
Slide 3: 1H 2025 Key Highlights
1H 2025 KEY HIGHLIGHTS CONTINUING MARGINS EXPANSION ADJ. EBITDA QUARTERLY EVOLUTION 605 1,132 13.8 % -38 % €M 540 518 527 Adj. EBITDA Adj. EBITDA % at GHG emissions LTM 457 standard metal prices (Scope 1&2 vs 2019) 4.0 % 979 Adj. Ebitda % €M 12.7% 13.8% 12.7% 13.1% 14.5% at standard metal prices Org
Slide 4: 1H 2025 Business Highlights
1H 2025 BUSINESS HIGHLIGHTS UNMATCHED SYNERGISTIC PORTFOLIO EXPOSED TO SECULAR MARKET TRENDS TRANSMISSION POWER GRID ELECTRIFICATION DIGITAL SOLUTION Monna Lisa & Several agreements across Stargate Expanded Connectivity Pikkala Europe to strengthen the grid datacenter with Channell and W&B New 245 k
Slide 5: Transmission: Excellent Performance, Growth & Margin Improvement
TRANSMISSION EXCELLENT PERFORMANCE, GROWTH & MARGIN IMPROVEMENT Capacity expansion, flawless execution and better mix. Backlog at approx. 16 €Bn Q2 RESULTS 1H RESULTS REVENUES ADJUSTED EBITDA 1,084 1,486 REVENUES Org. Growth Org. Growth 743 249 ADJ. EBITDA 125 610 88 150 Adj. Ebitda % Adj. Ebitda %
Slide 6: Power Grid: Growth Acceleration and Margin Expansion
POWER GRID GROWTH ACCELERATION AND MARGIN EXPANSION Q2 RESULTS 1H RESULTS REVENUES ADJUSTED EBITDA 1,802 1,865 REVENUES Org. Growth Org. Growth 950 991 134 250 ADJ. EBITDA 123 238 Adj. Ebitda % Adj. Ebitda % 14.7% 15.6% at standard 14.8% 15.4% at standard metal prices metal prices Q2 2024 Q2 2025 Q2
Slide 7: Industrial & Construction: Solid Margin Expansion in Q2
INDUSTRIAL & CONSTRUCTION SOLID MARGIN EXPANSION IN Q2 Q2 RESULTS 1H RESULTS REVENUES ADJUSTED EBITDA 2,500 3,801 REVENUES Org. Growth Org. Growth 1,878 381 ADJ. EBITDA 208 1,307 224 110 Adj. Ebitda % Adj. Ebitda % 10.6% 14.1% at standard 10.9% 12.9% at standard metal prices metal prices Q2 2024 Q2
Slide 8: Specialties: Positive Growth in Q2
SPECIALTIES POSITIVE GROWTH IN Q2 Solid performance across businesses besides Automotive and Elevators Q2 RESULTS 1H RESULTS REVENUES ADJUSTED EBITDA 1,552 1,551 REVENUES Org. Growth Org. Growth 790 774 179 ADJ. EBITDA 94 148 74 Adj. Ebitda % Adj. Ebitda % 14.0% 11.4% at standard 13.3% 11.4% at stan
Slide 9: Digital Solutions: Solid Growth and Profitability Improvement
DIGITAL SOLUTIONS SOLID GROWTH AND PROFITABILITY IMPROVEMENT Results reflecting Channell consolidation from June Q2 RESULTS 1H RESULTS REVENUES ADJUSTED EBITDA 656 726 REVENUES Org. Growth Org. Growth 387 63 105 ADJ. EBITDA 344 44 76 Adj. Ebitda % Adj. Ebitda % 13.3% 16.8% at standard 12.1% 15.1% at
Slide 10: 1H 2025 ESG Highlights
1H 2025 ESG HIGHLIGHTS 43.6% revenues linked to sustainable solutions vs 43.1% in FY 2024 Circular economy 19.9% recycled content on PE jacket and copper 43.6% of desk workers women hired vs 16.2% in FY 2024 vs 47.5% in FY 2024 19.1% Executive women Social Climate ambition ambition -38% reduction of
Slide 11: Financial Results
1H 2025 INTEGRATED RESULTS FINANCIAL RESULTS Pier Francesco Facchini Prysmian CFO
Slide 12: Profit & Loss Statement
PROFIT & LOSS STATEMENT 1H 2025 1H 2024 REVENUES 9,654 7,819 ADJ. EBITDA BRIDGE YoY organic growth 4.0% Adj.EBITDA 1,132 869 % on revenues at current metal prices 11.7% 11.1% Q1 Q2 1H % on revenues at standard metal prices 13.8% 12.6% ADJ. EBITDA 2024 412 457 869 Adj.EBIT 845 676 Transmission 62 37
Slide 13: Excellent Cash Generation
EXCELLENT CASH GENERATION +979 €M Free Cash Flow 5,004 ( 100 ) ( 1,677 ) 238 ( 989 ) 210 ( 19 ) 940 ( 433 ) ( 94 ) 293 4,694 1,321 30-Jun-24 Acquisition Convertible Cash flow WC Net Financial Dividend Dividend Hybrid Net cash IFRS 16, FX, 30-Jun-25 Bonds, operations changes Operative Charges receive
Slide 14: 2025 Outlook & Closing Remarks
1H 2025 INTEGRATED RESULTS 2025 OUTLOOK & CLOSING REMARKS
Slide 15: Upgrading Outlook 2025
UPGRADING OUTLOOK 2025 ~ 2,340 ADJ. EBITDA 2,300 2,375 ADJ. EBITDA Mid-point 2025 TARGET (€M) 2,300 ~ 2,340±40 Previous Guidance 2,250 Mid-point 2,350 2,300±50 ~ 1,040 FCF 2025 1,000 1,075 TARGET (€M) Mid-point 1,000 Previous Guidance 950 1,050 FY OLD PRYSMIAN CHANNELL FOREX FY NEW New FY25 Mid-poin
Slide 16: Q2 Summary
Q2 SUMMARY Excellent performance in Q2, sustained in particular by Transmission and Power Grid Margins expansion across all segments Outstanding cash generation at approx. €1 billion LTM 2025 outlook upgraded 16
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: Appendix
Appendix Oo prysmian 18
Slide 19: Financial Highlights
FINANCIAL HIGHLIGHTS Revenues Adj.EBITDA 1H 2025 1H 2024 1H 2025 1H 2024 organic Adj.EBITDA Adj.EBITDA €M €M €M €M growth Margin Margin TRANSMISSION 1,486 37.9% 1,084 249 16.8% 150 13.8% POWER GRID 1,865 1.7% 1,802 250 13.4% 238 13.2% INDUSTRIAL & CONSTRUCTION 3,801 -2.2% 2,500 381 10.0% 224 9.0% SP
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 1,486 249 16.8% 1,467 249 17.0% POWER GRID 1,865 250 13.4% 1,621 250 15.4% ELECTRIFICATION 5,577 528 9.5% 4,436 528 11.9% 1H I
Slide 21: Solid Financial Structure
SOLID FINANCIAL STRUCTURE Average debt maturity of 4 years (including Revolving Credit Facility) CURRENT FINANCIAL DEBT MATURITY PROFILE (7) €M Bank Bond Sust. linked RCF (undrawn) Fixed/Variable rate composition 1,467 1,200 Fixed ~80% 850 Variable 650 ~20% SUST. 1,000 LINKED TL 2022 EUROBOND 198 3.
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 1H 2025 1H 2024 REVENUES 9,654 7,819 YoY total growth 23.5% 1H 2025 1H 2024 YoY organic growth 4.0% Non-recurring Items (2) (6) Adj.EBITDA 1,132 869 Restructuring (8) (48) % on revenues at current metal prices 11.7% 11.1% Other Non-o
Slide 24: Statement of Financial Position (Balance Sheet)
STATEMENT OF FINANCIAL POSITION (BALANCE SHEET) 30-Jun-25 30-Jun-24 31-Dec-24 Net fixed assets 10,469 5,823 10,097 of which: goodwill 4,025 1,691 3,499 Net working capital 1,126 1,290 890 of which: derivatives assets/(liabilities) (15) 172 81 of which: Operative Net working capital 1,141 1,118 809 P
Slide 25: Cash Flow Statement
CASH FLOW STATEMENT 30-Jun-25 30-Jun-24 12 Months (from 1/7/2024 to 30/6/2025) Adj.EBITDA 1,132 869 2,190 Adjustments 2 (68) (103) EBITDA 1,134 801 2,087 Net Change in provisions & others (42) 11 (53) Net gains realized on disposal of equity accounted companies (29) - (29) Share of net profit/(loss)
Slide 26: Bridge Consolidation Revenues
Bridge consolidation revenues TRANSMISSION POWER GRID INDUSTRIAL & CONSTRUCTION* 30 65 ( 32 ) 410 6 ( 14 ) ( 82 ) 172 ( 48 ) 1,802 Org.growth 1,865 Org.growth Org.growth 1,486 3,759 3,801 +37.9% +1.7% -2.2% 1,084 1H 2024 Organic Metal Exchange 1H 2025 1H 2024 Organic Metal Exchange 1H 2025 1H 2024 O
Slide 27: 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% 27
Slide 28: We Innovate to Support Our Customers
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 28
Slide 29: 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 4.4 6.3 15.7 200 150 100 50 20 40 60 80 100 D- D C- C B- B A- A 66 58 A- 29
Slide 30: Notes
Notes 1) Adjusted EBITDA margin at the standard metal • 2025: CDP 2021 (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 (912 €M); per ton) and lead (
Slide 31: 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 32: Thank You
THANK YOU The planet’s pathways