11 INSIGHT | Focus On What do you consider some of Prysmian’s key milestones since it was established? We must continue to work on building value, and especially in distributing the value we create. Prysmian is a widely-held public company. The journey that brought us where we are now started in July 2005, at the time of the spin-off from Pirelli and founding of Prysmian. From the beginning, we knew global scale and innovation would be crucial to becoming market leaders. In 2007, we made our initial public offering (IPO), an important step for accessing the capital markets. In 2010, we went further to become Italy’s first fully public company , and this makes us unique, even today. This decision was a clear reflection of our commitment to long-term profitability, growth, transparency and corporate governance. In 2011 we acquired Draka and in 2018 we purchased General Cable. These acquisitions helped us expand our geographical reach and broaden our portfolio. We then applied our knowhow to successfully integrate each business, ensuring we retained the best aspects of the companies while not losing our core DNA. Finally in 2022 we saw a step change in the improvement in the performance of the group, thanks to what we did, what we are still doing, and a market that is electrifying. How has the company transformed over the last decade? We are a very different company from where we were a decade ago. Since 2010, our group revenues have increased four-fold to about €16 billion in 2022 , and the number of our employees has risen around three-fold to 30,000. That means 30,000 families around the world count on what we decide to do. That is the biggest responsibility we have. Our plants are all over the world, largely in the US and Europe, but also in South America and Asia. We have focused on creating value for our stakeholders, including our shareholders. From the €2.7 billion market capitalization at the time of the IPO, today the company has reached over €10 billion market capitalization. You are due to step down in 2024 and the board has designated Massimo Battaini as the next CEO. What are your hopes as you pass the baton to your successor? I am not young anymore, I have been running the company for the last 20 years, and I have the responsibility to create successors. The company needs someone younger but still experienced. As we enter this new and exciting phase, I am handing over to Massimo, and I am confident that he is the right leader to drive our company and the industry forward. 2010 2018 2011 2022 BECOMING FULLY PUBLIC GENERAL CABLE INTEGRATION DRAKA INTEGRATION PERFOMANCE STEP CHANGE 2023 Building tomorrow's solutions I am very proud of what we have built, a company that has delivered value and that has kept a cohesive culture as we have expanded through transformational mergers and acquisitions. The outcome of our strategies is a robust business that is leading the industry, and that has the technology and resources to take advantage of the many opportunities ahead. ” We have done our job reasonably well so far, and now is the time to look to the future.
RkJQdWJsaXNoZXIy Mzc4NjU=