14 80
2.
HEALTHY RESULTS, WHEN STRATEGY WORKS
PRYSMIAN GROUP
2015
YEARLY OVERVIEW
Energy Projects posted excellent performance in 2015 for submarine cables,
with order intake of approximately Euro 1 billion. A year of stability for High
Voltage underground while SURF revenue grew thanks to Umbilicals. Total
segment sales reached Euro 1,587million, with organic growth of 15.8%and
a major rebound in profitability. Adjusted EBITDA came to Euro 246 million,
soaring 59.7% from Euro 154 million in 2014.
SalesperformancebySubmarineCablesandSystemsforpowertransmission
was very buoyant, particularly thanks to the capability to execute the
A 2015 of excellent performances
numerous projects currently in the order book. The Group worked on
completing major contracts such as the Italy-Montenegro, Dardanelles
Strait and Greece-Cyclades interconnectors, connections for offshore wind
farms such as Borwin3 and Dolwin3 in Germany, and the ExxonMobil project
in the United States.The adverse effects related to execution of theWestern
Link project were also reduced by Euro 30 million. The submarine projects
order book stood at Euro 2,600 million at the end of December 2015, with
order intake exceeding Euro 1 billion in 2015 alone.
TOTAL SEGMENT SALES REACHED
€1,587
MILLION, WITH ORGANIC
GROWTH OF
15.8%
AND A MAJOR REBOUND IN PROFITABILITY.
ADJUSTED EBITDA CAME TO
€246
MILLION, SOARING
59.7%
FROM €154 MILLION IN 2014.
2014
1,355
1,416
1,587
1,692
2015
2014
Excluding
WesternLink
2015
+19.4%
+17.1%
SALES 2015
The Energy Projects Operating Segment
encompasses the following high-tech and
high value-added businesses whose focus
is on projects and their execution, including
customisation of products and systems:
High Voltage underground, Submarine and
SURF (umbilical cables, flexible pipes and
special Downhole Technology cables for the
oil industry).
Prysmian engineers, manufactures and
installs high and extra high voltage cables
for underground and submarine power
transmission directly from power stations
to primary distribution networks.
ENERGY PROJECTS
Prysmian also offers advanced services for
the construction of submarine power lines
for offshorewind farms, ranging fromproject
management to cable installation, with the
assistance of its cable-laying ship the "Cable
Enterprise".
Through Prysmian PowerLink, the Group
develops the most advanced "turnkey"
submarine cable systems for installation
at depths of up to 2,000 metres, possible
thanks to the "Giulio Verne", one of the
largest and most technologically advanced
cable-laying ships in the world.
Excellent performances, with increase in Submarine and SURF
demand, and continued stability for our HV Cables.
“In the Energy Projects segment we see
an improving trend with growth in Submarine,
general stability in High Voltage underground
and a slight contraction in SURF”.
Senior Vice President
Energy Projects business
Massimo Battaini