QUARTERLYOVERVIEW
6
PrysmianGroup Insight
Positivemarket expectations
despite tough conditions
TargetPrice*
Brokers’Recommendation*
PerformanceofPrysmianstockvs. indexesandpeers
since IPO*
Min
Neutral
Prysmian
Nexans
Positive
FTSEMIB
General Cable
MSCI EUROPECAPGDS
0
5
10
15
20
25
Average Max
18.0 20.3
23.5
Prysmian stock increased its value by
approximately 25% over the course
of 2013, risingwell above its initial
listing price (Euro 15 on 3May 2007),
and significantly outperforming its
competitors and benchmark indices,
thereby increasing its weight within
such indices. Coverage of the
Prysmian stock remained very high
and geographically diversified, even
though the equity research sector
continued its process of consolidation
during 2013, both in Italy and
worldwide. There are now 23
independent analysts who regularly
cover the Prysmian stock: after the
release of FY2013 results, almost
three quarters of them expressed
a positive view on the stock, while
the remainder stayed neutral. The
average target price indicated by the
analysts was at 20.3 Euro.
The ownership structure by
geographical area confirms the
predominant presence of US and
UK investors, who at the end of
2013 accounted for around 50%
of the capital held by institutional
investors; theywere followed by
Italian institutional investors with
14% and by the Frenchwith 8%.
Lastly, worth noting is the increase
in the proportion of Asian investors
since the prior year, particularly
those from Singapore and Japan.
Approximately 73% of the share
capital held by institutional investors
is represented by investment
funds with Value, Growth or GARP
strategies, therefore focused
on amedium to long-term time
horizon. There has also been a
steady increase in the proportion
of shareholders adopting an Index
investment strategy, based on the
principal stock indices; in fact,
this increase is consistent with the
greater weight of the Prysmian
stockwithin such indices.
A truly international
shareholding
structure
• Annual shareholdersmeeting
due to approve the 2013 financial
statements and the proposed
dividend for the year, unchanged
at
€
0.42: April 16, 2014
• Ex dividend date:
April 22, 2014
• Dividend payment:
April 25, 2014
• 1
st
Quarter financial results:
May 8, 2014
• 1
st
Half financial results:
July 31, 2014
• 9months financial results:
November 6, 2014
Investor calendar
Institutional investors
bygeographical area
26%
74%
*asofMarch6, 2014
Prysmian
FTSEMIB
MSCI EUROPECAPGDS
May-07
Jul-07
Sept-07
Nov-07
Jan-08
Mar-08
May-08
Jul-08
Sept-08
Nov-08
Jan-09
Mar-09
May-09
Jul-09
Sept-09
Nov-09
Jan-10
Mar-10
May-10
Jul-10
Sept-10
Nov-10
Jan-11
Mar-11
May-11
Jul-11
Sept-11
Nov-11
Jan-12
Mar-12
May-12
Jul-12
Sept-12
Nov-12
Jan-13
Mar-13
May-13
Jul-13
Sept-13
Nov-13
Jan-14
Mar-14
150
125
100
75
50
25
0
US
25%
UK
24%
Italy
14%
France
8%
Ireland
5%
Norway
5%
Germany
4%
Nederland
3%
Other European
Countries
7%
HongKong
2%
Restof theworld
3%
INSTITUTIONAL INVESTORSBYGEOGRAPHICALAREA
