Prysmian's transmission segment recorded an adjusted EBITDA of €150 million for the first half of 2024, reflecting a nearly 14% margin. This compares with €116 million for the same period in 2023. The increase in both sales and profitability was attributed to solid project delivery and projects with improved margins.
Prysmian reported that sales grew organically by 9.5% to reach €1,084 million, with second-quarter sales showing an organic growth of 17.4%.
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In the power grid segment, adjusted EBITDA rose by 31.5% to €238 million, with a margin of 13.2%, up from €182 million in the first half of 2023. The growth in margins was driven by positive market trends related to grid enhancement in North America and EMEA regions.
Prysmian's Chief Executive Massimo Battaini noted, “The first half of 2024 results underline that Prysmian's profitability remains solid and that it is well-positioned to benefit from the long-term trends in energy transition and digitalisation to achieve future organic growth.” Battaini also highlighted the company's improved 2024 full-year guidance, citing the acquisition of Encore Wire and a focus on profitability and cash generation as key factors.
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Battaini added, “These achievements have also been made while Prysmian continues to take strides in reducing carbon emissions and growing its revenues from sustainable products, which have a clear and measurable impact on the planet and society.”
