The results for the opening nine months of 2016 confirmed the growth seen in the first half, with project execution capability driving a 20.9% jump by Energy Projects, while Telecom confirmed the positive trend with an 8.4% increase. Profitability also increased, with margin on sales at 9.3%, and ADJ EBITDA climbing 11.5% to €527 million. CEO Valerio Battista stated, “Our capability to execute the major power transmission projects in our portfolio and confirmation of the solid growth trend by Telecom have driven the nine-month results.”
Among the contributory factors, Mr. Battista referenced the upbeat targets for FY 2016 and mentioned the “insistent focus on reducing costs and the progress in rationalising the manufacturing footprint”. A set of impressive milestone innovations achieved by Prysmian Group in recent times culminated with the successful development and testing of the new P-Laser 600 kV cable system for High Voltage Direct Current applications. In this issue, we FOCUS ON the undisputed technological advantage that helped the company secure leadership in the transmission of large bulks of electricity over long distances, often across or between countries and through submarine connections. In the last issue, INSIGHT reported that the Group called on the European Commission to be consistent with its digital ambitions. The call was certainly heeded, as Europe is accelerating on the path towards the Gigabit Society, which we report in GLOBAL SCENARIO. A new set of proposals by the Commission, welcomed by the FTTH Council Europe, move in the same direction that Prysmian outlined, while a new code set EU-wide rules and objectives on how the telecom industry should be regulated to meet the growing need for speed and quality.
In MARKET & TRENDS we explore the power system of the future with the help of Marco Marelli, System Engineering Director at Prysmian Powerlink, recently appointed chairman of CIGRE’s SC B1 (Insulated Cables), one of the main standards authorities in the worldwide EHV cable industry. In an interview, Marco explains the mission of the body he was called to chair and the key points of his agenda.
GETTING THINGS DONE is always a priority at Prysmian. This time the Group got ready to work with the new cable laying vessel, Ulisse, that joins Giulio Verne and Cable Enterprise in Prysmian’s world-class fleet. The new vessel adds to the fleet’s extensive range of well-proven, in-house cable protection equipment to provide extended and strengthened submarine cable installation capability.
