24 Enabling the Digital and Energy transition grew to €12.089 billion, reporting a +15.0% organic growth compared to 9M 2021, with a positive performance in nearly all businesses and geographical areas. The third quarter was the Group’s best ever quarter, with 16.2% organic growth, thanks to the long-term drivers of the energy transition and digitalisation. The excellent results of the Energy segment were driven by demand for the technologies needed to upgrade power grids, data centres and solar energy. Power Distribution cables rose by double-digits in all geographical areas, whereas in the construction cable market the performance of the nonresidential segment was particularly satisfying (Energy & Infrastructure: +16.1% organic growth). The industrial cable business reported a +10.3% organicgrowth,drivenby theexcellentperformance of the OEM and Renewables businesses. In the Telecom space (+9.2% organic growth), optical cables confirmed their uptrend (+18.2%) and MMS (Multi Media Solutions) applications also reported an excellent performance. The Projects segment recovered significantly (+29.0% organic growth), mainly thanks to submarine cables and systems. jumped by 56.0% to €1.131 billion, compared to €725 million for 9M 2021. The Group reported an excellent Adjusted EBITDA of €432 million in Q3 alone. Profitability improved sharply, with a ratio of Adjusted EBITDA to Sales at 9.4% (9.8% at 2021 metal prices), compared to 7.8% in 9M 2021. In Q3, margins also improved significantly to 10.4%, up 260 bps compared to Q3 2021 (7.8%). 9M 2022 foreign exchange impact has been €87 million. grew to €1.071 billion (€700 million in 9M 2021), including net expenses for company reorganization, net non-recurring expenses and other net non-operating expenses totaling €60 million (€25 million in 9M 2021). Operating income rose to €684 million, compared to €448 million in 9M 2021. attributable to owners of the parent soared by +69.0% to €431 million compared to €255 million for the same period of 2021. over the past 12 months was €344 million (excluding the €19 million cash out for acquisitions and the €19 million net cash inflow related to previous antitrust disputes). The main factors that enabled Free Cash Flow generation were: \ €1.269 billion operating cash flows before changes in net working capital; \ €342 million cash used for increasing net working capital; \ €310 million cash outflows for net investments; \ €192 million taxes paid; \ €79 million net finance costs paid. Thanks to its capacity to generate robust and constant cash flows, the Group further reduced its Net Financial Debt to €2,372 million at the end of September 2022, down by an impressive €291 million compared to €2,663 million at 30 September 2021. This major deleverage is reflected in the ratio of Adjusted EBITDA to Net Debt, which improved significantly and will reach nearly 1x ratio at year-end. Group Sales Net Profit Free Cash Flow Adjusted EBITDA EBITDA Financial results
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