Italy’s Prysmian sees core profit rising 34% by 2027 under new strategy

Prysmian sees its core profit rising around 34% through 2027 as the world's largest cable maker seeks to benefit from a global push towards cleaner energy and digital transformation, by building on its existing businesses. Presenting its first-ever strategic plan on Thursday, the Italian group said the cable industry was increasingly strategic amid long-term market trends of increased renewable generation, growing electricity demand, expanding power grids and massive data growth. This will help Prysmian increase its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) to around 2 billion euros ($2.1 billion) in 2027, from 1.49 billion euros last year, the company said in a statement.