PRYSMIAN S.P.A. 1Q 2021 Financial Results
Milan, 13 May 2021
1Q 2021 | Financial | Appendix |
Highlights | Results |
2
1Q 2021: A Solid Start of the Year
SOLID START OF THE YEAR: +4.6% Organic Growth*
Strong recovery of Telecom and Energy Business demand driven by construction and renewables
RESILIENT MARGINS: 7.6% Adj EBITDA Margin
Solid volume trend, cost efficiency and price management to balance raw materials cost inflation.
Negative forex impact (-14 €M).
SOUND FREE CASH FLOW GENERATION
553 €M of FCF LTM excluding antitrust cash-out
PROJECTS: EXECUTION & INTAKE
Sofia offshore wind project award
worth over 200 €M
Completion of Crete-Peloponnese interconnection
The new vessel "Leonardo Da Vinci" to enter in operation in Q3,
on time for Viking installation
© Prysmian Group 2021 | * Organic growth YoY ex Projects | 3 |
1Q 2021 Financial highlights
SALES
SALES | ORGANIC GROWTH* |
2,810 €M +4.6%
SOLID ORGANIC GROWTH
+11.4% Telecom, with strong sequential improvement
+3.5% E&I, mainly driven by construction
+3.5% Industrial & NWC driven by OEM and renewables
ADJ. EBITDA
ADJ. EBITDA | ADJ. EBITDA MARGIN |
213 €M | 7.6% |
RESILIENT MARGINS
Energy Business margins higher than pre- Covid 19 level, despite raw material increase
Sound volume in Telecom and strong efficiency measures
Negative forex impact (-14 €M)
FREE CASH FLOW
FCF LTM | NET DEBT |
553 €M | 2,325 €M |
FREE CASH FLOW
553 €M of FCF LTM excluding antitrust cash-out
© Prysmian Group 2021 | * Organic growth ex Projects | 4 |
Sound performance in Energy and Telecom; phasing affecting Projects
Projects
347 314 -7.9%
Sales
Ebitda | 36 | 29 |
Adj. | 10.4% | 9.3% |
1 Q 2 0 2 0 1 Q 2 0 2 1 |
HIGHLIGHTS
Energy
1,888 | 2,114 | +3.4% | ||||||
E&I | Industrial & NWC | |||||||
1,239 | 1,400 | +3.5% | 598 | 648 | +3.5% | |||
68 75
45 | 49 | ||
5.5% | 5.3% | 7.5% | 7.6% |
1 Q 2 0 2 0 1 Q 2 0 2 1 | 1 Q 2 0 2 0 1 Q 2 0 2 1 |
HIGHLIGHTSHIGHLIGHTS
Telecom
352 382 +11.4%
48 | 58 |
13.6% | 15.2% |
1 Q 2 0 2 0 1 Q 2 0 2 1 |
HIGHLIGHTS
TOTAL | ||
2,587 | 2,810 | +3.0% |
Sales | ( 14 ) | |
197 | forex | |
213 | ||
Adj. Ebitda | ||
7.6% | 7.6% | |
1 Q 2 0 2 0 1 Q 2 0 2 1 |
Phasing affecting results, with improvement expected in H2, mainly driven by German Corridors
Submarine backlog further
increased to 1.8 €Bn (total Projects: 3.8 €Bn backlog)
Solid organic growth in T&I and Overhead, partially offset by PD (normalizing in North America as expected, after 2020 strong growth)
Strong organic growth in Renewables & Network Components, positive Elevators and Automotive
Strong sequential improvement
Cost efficiency measures partly | Q1 2021 organic growth | |
offsetting price pressure and | ||
other headwinds | ||
Positive carry-over from YOFC | ||
2020 actual results (4 €M) |
© Prysmian Group 2021 | Euro Millions, % on Sales | 5 |
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Prysmian S.p.A. published this content on 13 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 May 2021 14:24:01 UTC.
