Responsible business activities
Prysmian Group’s industrial investment strategy seeks to improve efficiency by concentrating the production of higher value-added cables in selected plants destined to become centers of excellence with high technological skills and, where possible, the ability to leverage economies of scale. At the same time, we are working to achieve greater manufacturing efficiency in the commodities sector, while maintaining a well-diversified geographical presence in order to minimize distribution costs. In 2022, the gross value of investments increased to €454 million, up from the previous year (€283 million), by increasing its investments in production capacity and facilities, which are critical to meeting the accelerating demand for digitalisation and electrification systems that account for some of the key requirements in the so-called transition to alternative sources of energy. The rate of investment for operations intended to increase production capacity and variations in product mix amounted to 67% of total investments. The most substantial investment was for the order for a new cable-laying ship, on the cutting edge, for nearly €200 million, plus a supplement of nearly €40 million for the cable-laying equipment. The design follows that of the Leonardo da Vinci, recently completed and in operation since 2021.