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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Prysmian S.p.A.    PRY   IT0004176001

PRYSMIAN S.P.A.

(PRY)
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Prysmian S p A : Industry leader Prysmian Group files legal proceedings for patents' infringements against competitor to protect R&D investments

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07/28/2020 | 07:25am EDT

PRESS RELEASE

INNOVATIONS ARE KEY TO DEVELOP BROADBAND NETWORKS

INDUSTRY LEADER PRYSMIAN GROUP FILES LEGAL PROCEEDINGS FOR PATENTS'

INFRINGEMENTS AGAINST COMPETITOR TO PROTECT R&D INVESTMENTS

Milan, xx July, 2020. Prysmian Group, world leader in the energy and telecom cable systems industry, announced the filing of two legal proceedings against a competitor company in the field of telecom cables. As an industry leader committed to the supply and promotion of innovative products as the key component for future-proof broadband networks, the Group has undertaken intense R&D activities and major investments during the years, and its telecom cables can now boast the industry record for fibre count and density, with many innovative patents filed in the field of optical cables and related technologies.

In order to protect its technology and investment against any unauthorized use of its patents, Prysmian has filed patent infringement cases related to the unauthorized use of Prysmian's European Patents EP1668392 B1 ("EP '392") and EP 2390700 B1 ("EP '700"), in Germany. The two complaints were filed before the District Court of Munich.

The European Patent EP '392 relates to telecommunication optical cables, and in particular to a telecommunication optical cable with a highly reduced diameter.

The European Patent EP '700 relates to optical fibre telecommunications cables, particularly bundled cable units containing optical fibres.

Prysmian Group

Prysmian Group Telecom is among the world leaders in the telecom cable systems industry. With sales exceeding €1.6 billion and 27 plants, Prysmian Group Telecom is strongly positioned in high-tech markets and offers the widest possible range of products, technologies and know-how, serving the major global telecom industries. Prysmian Group's Telecom BU manufactures cables and accessories for voice, video and data transmission, offering a comprehensive range of proprietary optical fibres, optical and copper cables and connectivity systems.

Media Relations

Investor Relations

Lorenzo Caruso

Cristina Bifulco

Corporate and Business Communications Director

Investor Relations Director

Ph. 0039 02 6449.1

Ph. 0039 02 6449.1

lorenzo.caruso@prysmiangroup.com

mariacristina.bifulco@prysmiangroup.com

Disclaimer

Prysmian S.p.A. published this content on 28 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2020 11:25:09 UTC


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Financials
Sales 2020 10 313 M 12 139 M 12 139 M
Net income 2020 214 M 252 M 252 M
Net Debt 2020 2 041 M 2 402 M 2 402 M
P/E ratio 2020 30,1x
Yield 2020 1,83%
Capitalization 6 755 M 7 958 M 7 951 M
EV / Sales 2020 0,85x
EV / Sales 2021 0,78x
Nbr of Employees 28 160
Free-Float 91,6%
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 25,12 €
Last Close Price 25,66 €
Spread / Highest target 24,7%
Spread / Average Target -2,12%
Spread / Lowest Target -33,7%
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Managers
NameTitle
Valerio Battista Chief Executive Officer, Executive Director & GM
Claudio de Conto Chairman
Andrea Pirondini Chief Operating Officer
Pier Francesco Facchini CFO, Executive Director & Head-IT
Marcelo de Araujo Andrade Senior Vice President-Research & Development