EDITORIAL COLUMN
In the third quarter of a challenging year, marked by a generally
weak economic environment, particularly in Europe, Prysmian
Group has managed to achieve a slightly higher adjusted EBITDA
than in the same period of 2012. The signs of stabilization
which began to show in the second quarter were confirmed in
the third, thus allowing the Group to stick to its target of an
adjusted EBITDA in the range of €600–€650 million for the full
year, despite the predicted loss of around €20 million due to
negative exchange rates, expected to materialize by the year
end. The Group’s constant action to keep costs under control
and to improve the efficiency of organisational and production
processes, along with synergies from the integration with Draka,
have enabled it to defend margins and limit the erosion of
profitability, even in the businesses hardest hit by the crisis.
The quarter also marked an important milestone for Prysmian
Group as a public company, as it launched a new program aimed
at having its employees among its shareholders. The long-term
stock ownership plan for more than 15,000 employees in 27
countries around the world named YES, Your Employee Shares, is
explained in an interview with INSIGHT by Prysmian CEO Valerio
Battista.
Next, INSIGHT looks into Prysmian Group operations in Brazil,
where it has been awarded a major new contract concerning a
frame agreement for Umbilical products for offshore oil and gas
extraction by leading Brazilian oil company Petrobras. We then
move on to Russia, another member of the BRICS club of fast-
growing economies, where Prysmian Group has opened a new
medium and high voltage cable production facility in Rybinsk,
in the Yaroslavl region, as the latest step in its expansion plans
in the country. And then there is Capri, the celebrated resort-
island that will be connected for the first time ever to mainland
Italy with a power link, as part of a major project aimed at
strengthening its entire power system – thanks to Prysmian.
Editorial Team - INSIGHT
Protecting profitability
INSIGHT
is the quarterly review of Prysmian
Group created and published by the Corporate
& Business Communications Dept.
For information:
Contents
Quarterly overview
3
4
Focus on
6
7
Global scenario
8
9
Doing business
0
10
10
Getting things done
11
11
Worldwide
12
