6 IMPACT: Going beyond the numbers This is because about €200 million of our EBITDA forecast is related to the sharp increase in prices in North America, which is likely to decline in the second half of 2023. But this decline should be partly offset by the increased revenue in Projects, an area where most of our capex is concentrated. The Inflation Reduction Act in the U.S. may help us reach the upper end of the range, which we certainly do not rule out. Will the investments also affect Italy? The investment complements a similar one at our plant in Pikkala, Finland, for submarine cables. Next up will be a new factory in the U.S., in Massachusetts, for submarine cables: the foundation stone is scheduled to be laid in the fall. Beyond investments to increase production capacity, the Group's current financial situation would also allow for growth by acquisitions. What are the plans? The goal is to acquire small companies to add to our technology and markets reach, along the lines of what we did in 2021 with Swiss Omnisens. It is not the right time for big acquisitions: not because of capability, but because of price. And in any case, we don’t see any targets in the market right now that justify making radical choices. * Interview published on the Saturday, March 18 edition of Il Sole 24 Ore – the most important economic Italian daily newspaper. At our Arco Felice plant near Naples, we are building a new production line for very high voltage cables. The lower end of Prysmian’s financial guidance for 2023 forecasts a possible decline from 2022.
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