Margins improved markedly in 2017 while work began on the IFA2 project, the submarine link between France and Britain.
Prysmian Group executes major submarine interconnection projects for utilities and grid operators. In 2017 work began on the IFA2 project, a 320-kV submarine cable system between France and Britain capable of transmitting up to 1,000 MW and contributing to an increasingly interconnected European energy network.
The Group is also a world leader in submarine connections for offshore wind farms. Following on from our involvement in major European projects in recent years, Prysmian will develop – for the first time in France – submarine cable systems to link three offshore wind farms to the national power grid. Our execution capability boasts the largest and most technologically-advanced cable-laying fleet in the world – the Giulio Verne, Ulisse and Cable Enterprise – which will soon be strengthened further by a fourth cutting-edge vessel.
Sales grew organically in 2017 while profitability reflected mixed performances within the various business lines.
The Energy Products operating segment boasts a complete and innovative product portfolio designed to meet the many varied demands along diverse business lines: Energy & Infrastructure (including Power Distribution and Trade & Installers), and Industrial & Network Components, comprising Specialties & OEM, Elevators, Automotive and Network Components.
The Group manufactures low voltage products, and medium voltage cables and systems to connect industrial and residential buildings to primary distribution grids. Our fire-resistant, low-smoke and halogen-free cables are part of one of the widest and most comprehensive portfolios in the world. The same applies to our technologically-advanced integrated cabling solutions, which meets the needs of a wide variety of industries.
Both profitability and revenues climbed in 2017 mainly thanks to recovery for optical fibre cables.
As partner to leading telecom operators worldwide, our Telecom operating segment produces and manufactures a wide range of cable systems and connectivity products, including optical fibre, optical cables, connectivity components and accessories and copper cables. The Group enjoys the unique position of being able to use all existing manufacturing processes.
With centres of excellence in Battipaglia in Italy, Eindhoven in the Netherlands and Douvrin in France, plus five production sites around the world, we offer a wide range of optical fibres, such as single-mode, multimode and specialty. In 2017, the Group signed a major supply agreement with US Verizon to support the development of 5G services.
Sales of the segment continued to ease but the Core Cables business witnessed a recovery in onshore project demand.
The segment includes Downhole Technology (DHT), Subsea Umbilical, Riser and Flowline (SURF), and Core Cables for applications in the businesses of Exploration & Production, Pipeline & LNG and Refineries & Petrochemicals.
The segment also offers products and services known as ‘SURF’, for offshore oil and gas exploration and production activities. The oil and gas market crisis has oriented all Core Cables’ development activities towards design and production cost optimisation, and towards introducing alternative products to the market.