2016 was a record year at Prysmian Group in terms of profi tability, as Adjusted EBITDA reached an alltime high of €711 million, with the target achieved in the high-end of the guidance range. But it was also a year of acceleration of a growth strategy based upon four pillars: continuous innovation and R&D investing, engaging talent in the company’s future, sustainability as a secular commitment, and acquisition of strategic assets. Valerio Battista, CEO of Prysmian Group, outlined that behind the jump in profi t there was the excellent sales performance in higher value-added businesses, while it was also fostered by the company’s focus on operational effi ciency and manufacturing footprint optimisation.
The Group now looks at 2017 as a year of consolidation of its market leadership and of further improvement of profi tability in the Submarine cables business. It will also continue to rationalise its activities with the objective of achieving projected cost effi ciencies and greater competitiveness in all areas of business, continuing to build on the achievements of 2016. That is why in the FOCUS ON section, we outline Mr Battista’s vision of acting in the interest of all stakeholders and shareholders by making sustainable decisions, including from a fi nancial standpoint.
In our GLOBAL SCENARIO, we look at the ‘new industrial revolution’, generated by fi bre optics and impacting all sectors of the economy. We also consider the benefi ts of fully exploiting innovation, from augmented reality to digital holograms, looking at how Prysmian is exploring all possible applications of the digital revolution and how to implement them.
DOING BUSINESS did bear fruit in the last few months as Prysmian Group secured the fi rst-ever French off shore connection, thanks to a contract worth than €300 million. This came alongside the acquisition of the production facility of Shen Huan Cable in China, that will give the Group an independent HV off er in the country, signifi cantly improving competitiveness, fl exibility and effi ciency.
In this issue of INSIGHT we begin a new session called TRACKING THE FUTURE, sharing ideas and insight from inside the Company on the factors that are driving change in the global markets of power and telecommunications.