Prysmian S.P.A. Ord (PRYMF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome everyone to the earning calls of quarter 1.25. We are really off for a great start in 2025 with an EBITDA that hit 527 million EBITDA, million euros, well ahead of last year, even if you consider the 95 million extra perimeter due to the anchor wire consolidation in quarter 1.25. The EBITDA margin, which you see at 13.1, is reported according to the standard metal prices. So those are the metal prices based on the average of metal, copper, and aluminum, and lead prices in the 10 years preceding 2019, which you know very well because they are normally reported in the appendix of the Analyse Code. The organic growth was fantastic, 5% EBITDA, certainly driven by transmission, but also supported by stability in INC, in power grid, and growth in digital solution. Free cash flow also outstanding at 1 billion euro for the last 12 months. ESG performance in language expectation, minus 37 risk of one and two reduction versus the baseline. I remind you that our target for 2025 is to achieve at least 38%, so we're well on track to achieve it. Net zero is confirmed accelerated by the end of 2035. Revenue linked to solutions sustainable is as high as 43, and we have a significant improvement in the recycled content of copper, mainly recycled content of material. with this 19% from the business point up on the average of last year. Thanks to a significant availability of copper waste in our US perimeter, which Anchor Wire took advantage of. Moving to transmission, I mean, all KPIs are super great, super satisfactory. The organic growth in particular is 60% never been that high. It is certainly driven by some extra activity, not necessarily coming from the extra capacity. We are at only additional capacity in terms of one installation method, Mona Lisa, tha...