Revenue growth. Improved profitability. And a solid financial structure. We can safely say that 2015 has closed with better than ever-expected results. According to CEO Valerio Battista, Prysmian’s ability to defend the more strategic, high value-added businesses ‘continues to be decisive’, and the market has rewarded the Group’s project execution capability, which has been further enhanced by investments in technological innovation, namely in the Submarine business.
Innovation is the name of the game, as Prysmian achieved a milestone in power transmission with the new 525 kV cable system for HVDC applications, allowing the doubling of capacity for more efficient and cost-effective grids.
In our FOCUS ON section we report on how Prysmian has managed to further strengthen its position in the key region of the Gulf, as it agrees to raise its stake to 51% in Oman Cables Industry, a top manufacturer in the area. The GLOBAL SCENARIO section of this issue sees Prysmian’s Oil & Gas established as a new business area, in a move aimed at creating synergies, better management of main customers and further leveraging of Group positioning in a key market. In the same section we take our readers on a journey to Turkey, where training meets production thanks to the new Manufacturing Academy of Prysmian established in Mudanya, where the Group boasts a long-established presence. DOING BUSINESS bears the fruit of our endeavours over the last few months, as Prysmian secured several important contracts across the world. Also to be mentioned, a major project for a submarine power cable link from the Netherlands to Denmark that will be the key to a sustainable European energy landscape. Additionally, we have a project on the cards to provide extra power to the city of Manama in Bahrain and we’re the suppliers of HV cables for a Siberian Natural Gas plant. Prysmian even appeared in the fashion world, as the Group supplied LV and MV cables for the Armani space in Milan.