Prysmian S p A : Presentazione (1st Quarter 2026 )

Published: 2026-04-30 01:31:09 ET PRY.MI

Published on 04/30/2026 at 01:31 am EDT

1Q'26

Massimo Battaini

Prysmian CEO

Q1 ADJ. EBITDA €M

601

527

Digital

Solutions

Electrification

Power Grid Transmission

2025

2026

13.1%

14.2%

margin @ Std metal

-36

forex impact

‌Q1'26 Key Highlights

Continued Growth, Margin Expansion & Strong Cash Generation Ltm

Adj. EBITDA

Adj. EBITDA % @std metal

Org. Growth

FCF

Sustainability-linked revenues

GHG emissions LTM (Scope 1&2 vs 2019)

‌Data Center Growth: A Long-term Strategic Opportunity

Meaningful Opportunity To Expand Presence In The Dc Inside-building Segment

710

570

Prysmian to benefit from surging demand

Structural competitive advantage from US fiber and optical cable footprint

Unique opportunity to strike long-term agreements with hyperscalers

Leading DC growth by leveraging Prysmian portfolio across all 4 business segments

Fiber demand & offering evolution (M Fkm)

2025 2026 2027 2028 2029 2030

Global DC power demand (GW)

CAGR '25-'30

+33%

198

Traditional

AI is driving data center growth

67%

33%

61%

39%

2025 2026 2027 2028 2029 2030

Source: BCG

‌Scaling Presence In Inside Building Data Centers

PRYSMIAN: The ONE-STOP SHOP FOR DATA CENTERS

Transmission

Telco Subsea

Xtera acquisition expands long-haul subsea connections

Power Grid

PD & HVAC

Targeted investments to reinforce Data centers' connectivity

Transmission

Sub/Land energy Broadened portfolio to address growing DC-driven grid demand

Electrification

DC Power cable

Global positioning reinforced through Encore Wire acquisition

Digital Solution

DC Interconnection Investing in capacity and innovation to capture interconnection demand

NEW

Digital Solutions

DC Inside

Capacity and capabilities to be built through the right partnership

Prysmian's presence 5

‌TRANSMISSION

Best-in-class Margin Confirmed

FY26: Double-digit Organic Growth And Adj. Ebitda To Outpace 2025 By 25%

Q1 REVENUES

LTM REVENUES

Org Growth

743

754

3,273

2,750

Q1 2025

Q1 2026

Q1 2025 LTM

Q1 2026 LTM

181

152

146

124

125

16.9% 17.1% 17.8% 20.9% 20.1%

ADJ. EBITDA

@ Std metal

Q1'25 Q2'25 Q3'25 Q4'25 Q1'26

Euro Millions 6

‌POWER GRID

Outstanding Growth Across Regions

Enhanced Margin From Q2 Onwards

Q1 RESULTS

REVENUES

ADJUSTED

EBITDA

Org. Growth

1,012

116

107

874

15.2%

12.4%

@ Std metal

Q1 2025

Q1 2026

Q1 2025

Q1 2026

134

116

125

105

107

15.2% 15.6% 14.7% 12.1%

12.4%

ADJ. EBITDA

@ Std metal

Q1'25 Q2'25 Q3'25 Q4'25 Q1'26

-7

Forex impact

Euro Millions 7

‌INDUSTRIAL & CONSTRUCTION

Growth Acceleration And Margin Expansion

Strong Growth (10% Yoy) And Margin Increase In North America Mainly Driven By Data Centers

Q1 RESULTS

REVENUES

ADJUSTED

EBITDA

Org. Growth

2,160

1,923

196

173

@ Std metal

Q1 2025

Q1 2026

Q1 2025

Q1 2026

11.6%

13.0%

11.6%

208

212

202

173

196

13.0%

13.5%

14.5%

14.1%

ADJ. EBITDA

@ Std metal

Q1'25 Q2'25 Q3'25 Q4'25 Q1'26

-17

Forex impact

Euro Millions 8

‌SPECIALTIES

Overall Stable Results

Automotive, Elevators and O&G Impacting Growth

Q1 RESULTS

REVENUES

ADJUSTED

EBITDA

Org. Growth

777

696

@ Std metal

Q1 2025

Q1 2026

Q1 2025

Q1 2026

11.1%

11.5%

10.4%

11.1%

11.2%

11.4%

74 74 70

ADJ. EBITDA

@ Std metal

Q1'25 Q2'25 Q3'25 Q4'25 Q1'26

-4

Forex impact

Euro Millions 9

‌DIGITAL SOLUTIONS

Excellent Performance, Growth & Margin Improvement

Outstanding Contribution From Channell. Live Negotiations To Strike Long-term Agreements That Will Further Accelerate Data Center Growth

Q1 RESULTS

REVENUES

ADJUSTED

EBITDA

Org. Growth

451

339

@ Std metal

Q1 2025

Q1 2026

Q1 2025

Q1 2026

13.2%

20.6%

13.2%

16.8%

18.3%

20.6%

19.6%

88 88

Q1'25 Q2'25 Q3'25 Q4'25 Q1'26

ADJ. EBITDA

@ Std metal

-7

Forex impact

Euro Millions

Channell consolidated from June 2025 10

-40.8%

Reduction of Scope 1&2 GHG Emissions LTM vs 40.2%, FY25

23.3%

Recycled content in addressable materials vs 21.8%,FY25

42.6%

Sustainability-linked revenues

vs 43.7%, FY25

29.9%

New Product & Solutions vitality vs 28.3%, FY25

41.4%

Social

of desk workers women hired vs 48.4%, FY25

21.8%

Executive women

vs 22.6%, FY25

525kV HVDC

Cables with an increased operating temperature of up to 90°C, enabling more efficient power transmission

Prysmian creates the world's first

negative-carbon-footprint cable

Pier Francesco Facchini

Prysmian CFO

ADJ. EBITDA BREAKDOWN [€M]

Q1 2026 Q1 2025

REVENUES

5,218

4,771

YoY organic growth

5.0%

Adj.EBITDA

601

527

% on revenues at current metal prices

11.5%

11.0%

% on revenues at standard metal prices

14.2%

13.1%

Adjustments

(22)

(20)

Non monetary items

(2)

(72)

EBIT

406

285

% on revenues

7.8%

6.0%

Financial charges

(60)

(73)

EBT

346

212

Taxes

(93)

(57)

% on EBT

26.9%

NET PROFIT

253

155

Minorities

GROUP NET PROFIT

246

150

ADJ. EBITDA 2025

527

Transmission

Power Grid

(2)

Electrification

of which I&C

Digital Solutions (ex-YOFC)

YOFC

(4)

Forex

(36)

ADJ. EBITDA 2026

601

Euro Millions

‌Excellent Cash Generation Ltm

+1,191 €M Free Cash Flow

1,206

( 2,029 )

( 105 )

4,884

746 205

( 8 )

248

( 943 )

( 675 )

3,818

289

31-Mar-25

Acquisition

Cash flow

Net

Financial

Dividend

Hybrid

Net cash flow

IFRS 16, FX,

31-Mar-26

net debt

operations

changes

Operative

Charges

received

paid

Bond

from YOFC &

Other

net debt

(before WC

Capex

other assets

changes)

disposal

Euro Millions 14

Massimo Battaini

Prysmian CEO

2026 OUTLOOK CONFIRMED

ADJ. EBITDA

2,625

2,700

Mid-point

2,775

FCF

1,300

1,350

Mid-point

1,400

Sustainability-linked

revenues

47% - 49%

as a % of total group revenues

‌Closing Remarks

Excellent start to the year, with margin expansion in

Transmission and Digital Solutions

Power Grid and Digital Solutions fueling organic growth

Ongoing negotiations with customers in Digital Solutions to unlock growth also inside data centers

Prysmian to capture growth from all long-term drivers (data centers, renewables, electrification, grid enhancement)

‌Q1 Financial Highlights

Revenues Adj.EBITDA

Q1 2026

Q1 2025

Q1 2026 Q1 2025

€M organic growth

€M €M Adj.EBITDA

Margin

€M Adj.EBITDA

Margin

TRANSMISSION

754

0.4%

743

POWER GRID

1,012

16.2%

874

INDUSTRIAL & CONSTRUCTION

2,160

5.8%

1,923

SPECIALTIES

696

-6.1%

777

OTHER

145

0.0%

115

ELECTRIFICATION

3,001

2.3%

2,815

DIGITAL SOLUTIONS

451

9.0%

339

TOTAL GROUP

5,218

5.0%

4,771

146

19.4%

124

16.6%

107

10.6%

116

13.3%

196

9.1%

173

9.0%

9.2%

9.5%

-0.3%

(2)

-1.7%

260

8.7%

245

8.7%

19.5%

12.5%

601

11.5%

527

11.0%

‌Revenues At Standard Metal Prices

Revenues current Revenues Standard

Revenues

€M

Adj. Ebitda

€M

Adj. Ebitda margin

Revenues

€M

Adj. Ebitda

€M

Adj. Ebitda margin

TRANSMISSION

754

146

19.4%

POWER GRID

1,012

107

10.6%

ELECTRIFICATION

3,001

260

8.7%

I&C

2,160

196

9.1%

2026

Specialties

696

9.2%

DIGITAL SOLUTIONS

451

19.5%

TOTAL GROUP

5,218

601

11.5%

727 146 20.1%

871 107 12.4%

2,208 260 11.8%

1,517 196 13.0%

572 64 11.1%

428 88 20.6%

4,234 601 14.2%

TRANSMISSION

743

124

16.6%

733

124

16.9%

POWER GRID

874

116

13.3%

759

116

15.2%

Q1 2025

ELECTRIFICATION

2,815

245

8.7%

2,222

1,479

647

245

173

11.0%

11.6%

11.5%

I&C

1,923

173

9.0%

Specialties

777

9.5%

DIGITAL SOLUTIONS

339

12.5%

320

13.2%

TOTAL GROUP

4,771

527

11.0%

4,034

527

13.1%

Standard copper price of €5,500/ton. Standard aluminum price of €1,500/ton. Standard lead price of €2,000/ton. 19

‌Solid Financial Structure

3.7 Years Average Debt Maturity (Including Revolving Credit Facility)

CURRENT FINANCIAL DEBT MATURITY PROFILE (8)

Bank

Bond

RCF (undrawn)

Fixed/Variable rate composition

Fixed

~74%

Variable

~26%

1,485

1,200

EUROBOND 3.625%

1,200

850

725

SUST. LINKED TL 2022

345

EUROBOND 3.875%

198

100

2026 2027 2028 2029 2030 2031 2032 2033 2034

Not including 1,000MC Hybrid Bond issued on 21st May 2025

Adjustments and non monetary items on EBIT

‌Profit & Loss Statement

REVENUES

YoY total growth YoY organic growth

5,218

9.4%

5.0%

4,771

Adj.EBITDA

% on revenues at current metal prices

% on revenues at standard metal prices of which share of net income

601

11.5%

14.2%

527

11.0%

13.1%

Adjustments

(22)

(20)

EBITDA

% on revenues

579

11.1%

507

10.6%

Adj.EBIT

% on revenues

430

8.2%

377

7.9%

Adjustments

Non monetary items

(22)

(2)

(20)

(72)

EBIT

% on revenues

406

7.8%

285

6.0%

Financial charges

(60)

(73)

EBT

346

212

Taxes

% on EBT

(93)

26.9%

(57)

26.9%

NET PROFIT

253

155

Minorities

GROUP NET PROFIT

% on revenues

246

4.7%

150

3.1%

Q1 2026 Q1 2025

Non-recurring Items Restructuring

Other Non-operating Income / (Expenses)

(10)

(24)

(2)

(6)

(12)

EBITDA adjustments

(22)

(20)

Non monetary items

(2)

(72)

Gain/(loss) on derivatives on commodities

(55)

Assets impairment

(9)

Share-based compensation

(16)

(17)

EBIT adjustments

(24)

(92)

Financial Charges

Q1 2026 Q1 2025

Net interest expenses

(49)

(56)

Financial costs IFRS 16

(5)

(4)

Bank fees amortization

(1)

(4)

Gain/(loss) on exchange rates and derivatives

(5)

(9)

Net financial charges

(60)

(73)

Euro Millions 21

‌Statement Of Financial Position (Balance Sheet)

31-Mar-26 31-Mar-25 (7)

31-Dec-25

Net fixed assets

10,917

9,919

10,593

of which: goodwill

3,817

3,381

3,647

Net working capital

1,427

1,459

545

of which: derivatives and tax assets/liabilities

107

(37)

109

of which: Operative Net working capital

1,320

1,496

436

Provisions & deferred taxes

(1,134)

(1,017)

(1,082)

Net Capital Employed

11,210

10,361

10,056

Employee provisions

278

307

279

Shareholders' equity

7,114

5,170

6,680

of which: attributable to minority interest

208

200

206

Net financial debt

3,818

4,884

3,097

Total Financing and Equity

11,210

10,361

10,056

Euro Millions 22

Adj.EBITDA

Adjustments

EBITDA

601

(22)

579

527

(20)

507

2,472

288

2,760

Net Change in provisions & others

(18)

(28)

Net gains realized on disposal of fixed assets

(390)

Other not operating non monetary income

(16)

Share of net profit/(loss) of equity-accounted companies

(2)

(7)

(14)

Cash flow from operations (before WC changes)

566

482

2,312

Working Capital changes

(800)

(710)

105

Dividends received

Paid Income Taxes

(57)

(39)

(287)

Cash flow from operations

(288)

(261)

2,138

Acquisitions/Disposals

(137)

(1,206)

Net cash flow used in operating investing activities

(145)

(164)

(746)

Cash flow from non-ordinary asset disposals

109

Cash flow from investments

566

Free Cash Flow (unlevered)

(570)

(425) 861

Financial charges

(58)

(86)

(205)

Free Cash Flow (levered)

(628)

(511) 656

FCF (levered) excl. Acquisitions & Disposals and antitrust impact

(491)

(510)

1,191

Dividends

(9)

(248)

Issuance of perpetual Hybrid Bond

989

Share buyback and other equity movements

(49) 2

Interests on perpetual Hybrid Bond

(13)

Net Cash Flow

(637)

(560)

1,386

Net Financial Debt beginning of the period

(3,097)

(4,296)

(4,884)

Net cash flow

(637)

(560)

1,386

NFD increase due to IFRS16

(62)

(54)

(263)

Interests accrued of Hybrid Bond 2025

(13)

(33)

NFD from acquisitions and disposals

(17)

(29)

Other variations

Net Financial Debt end of the period

(3,818)

(4,884)

(3,818)

‌Cash Flow Statement

Euro Millions

31-Mar-26 31-Mar-25

12 Months (from 4/1/2025 to 3/31/2026)

‌Bridge Consolidation Revenues

TRANSMISSION

POWER GRID

INDUSTRIAL & CONSTRUCTION

( 1 )

743

Org.growth

+0.4%

754

Q1 2025 Organic Metal Exchange Perimeter Q1 2026

Growth Effect Rate

141

( 58 )

874

Org.growth

+16.2%

1,012

Q1 2025 Organic

Growth

Metal

Effect

Exchange

Rate

Q1 2026

112

277

( 152)

1,923

Org.growth

+5.8%

2,160

Q1 2025 Organic

Growth

Metal

Effect

Exchange

Rate

Q1 2026

( 48)

(40 )

( 44 )

777

Org.growth

-6.1%

696

Q1 2025 Organic

Growth

Metal Exchange Perimeter Q1 2026

Effect

Rate

TOTAL PRYSMIAN

238

433

( 285)

4,771

Org.growth

+5.0%

5,218

Q1 2025 Organic

Growth

Metal

Effect

Exchange

Rate & other

Perimeter Q1 2026

101

( 27)

339

Org.growth

+9.0%

451

Q1 2025 Organic

Growth

Metal Exchange Perimeter Q1 2026

Effect

Rate

SPECIALTIES

DIGITAL SOLUTIONS

Euro Millions 24

‌Sustainability Development Goals

100

CCC

BBB

AAA

100

We are included in

200

150

100

D-

C-

B-

A-

4.4

6.4

17.2

‌Notes

Adjusted EBITDA margin at the standard metal prices calculation takes into account set standard prices for copper (C5,500 per ton), aluminum (C1,500 per ton) and lead (C2,000 per ton) over a period of years to remove the volatility from market fluctuations in metal prices.

Revenues are reported at current metal prices.

Organic growth is calculated net of changes in the scope of consolidation, changes in metal prices and exchange rate effects.

FCF excluding Acquisitions, Disposals of investments, Antitrust impact and cash flow from non-ordinary asset disposals.

Adjusted EBITDA: EBITDA excluding restructuring, non-operating income/expenses and non-recurring income / expenses

Slide 14: Cash flow operations (before WC changes) of 2,029 CM, including tax paid for 287 CM.

The comparative data as of March 31, 2025 have been modified for PPA W&B and other reclassifications.

Slide 20: Current financial debt maturity profile (excluding debt held by subsidiaries and debt coming from IFRS 16 - 136 CM and 407 CM respectively - at 31.3.2026):

2029: EIB 2022 (135 CM); CDP 2023 (120 CM); MB (150 CM); UCG (150 CM). Encore Wire TL (930 CM);

2030: Revolving 2023 (1,000 MC); Revolving 2025

(200 CM);

2031: Eurobond 3.875% (650 MC); CDP 2026 (75 MC);

2032: EIB 2024 1st Tranche (198 CM)

2033: EIB 2024 2nd Tranche (145 CM); EIB 2025

(200CM)

2034: EIB 2026 (100CM)

10) Slide 24: The Prysmian Total includes "other Electrification", not explicitly illustrated, because it is not material.

‌Disclaimer

The managers responsible for preparing the company's financial reports, A.Brunetti and S.Invernici, declare, pursuant to paragraph 2 of Article 154-bis of the Consolidated Financial Act, that the accounting information contained in this presentation corresponds to the results documented in the books, accounting and other records of the company.

forward-looking statements. This document does not represent investment advice or a recommendation for the purchase or sale of financial products and/or of any kind of financial services. Finally, this document does not represent an invitation to invest in Italy, pursuant to Section 1, letter (t) of Legislative Decree no. 58 of February 24, 1998, or in any other country or state.

Certain information included in this document is forward-looking and is subject to important risks and uncertainties that could cause actual results to differ materially. The Company's businesses include its Transmission, Power Grid, Electrification and Digital Solutions Operating Segments, and its outlook is predominantly based on its interpretation of what it considers to be the key economic factors affecting these businesses.

In addition to the standard financial reporting formats and indicators required under IFRS, this document contains a number of reclassified tables and alternative performance indicators. The purpose is to help users better evaluate the Group's economic and financial performance. However, these tables and indicators should not be treated as a substitute for the standard tables and indicators required by IFRS.

Any estimates or forward-looking statements contained in this document are referred to the current date and, therefore, any of the assumptions underlying this document or any of the circumstances or data mentioned in this document may change. Prysmian S.p.A. expressly disclaims and does not assume any liability in connection with any inaccuracies in any of these estimates or forward-looking statements, or in connection with any use by any third party of such estimates or

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Disclaimer

Prysmian S.p.A. published this content on April 30, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 30, 2026 at 05:30 UTC.