MILAN (Reuters) – Italy’s Prysmian on Thursday said its adjusted core profit would rise as much as 22% this year, with growth boosted by the full benefit of the $4.2 billion acquisition of Encore Wire the group made in 2024.
The world’s largest cable maker, which is currently considering a dual listing in the United States, said it expected full-year adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of between 2.25 billion and 2.35 billion euros ($2.35-$2.46 billion) in 2025.
In 2024 adjusted EBITDA was up 18% from the year earlier to 1.927 billion euros, matching a company-provided analyst consensus.
Targets for 2025, which include also a forecast for a positive cash flow of up to 1.05 billion euros, are based on Prysmian’s role in “solid market trends in electrification, energy transition and digitalisation”, the company said.
Prysmian, which manufactures cables including for energy transmission, power grids and digital systems, completed the purchase of wire and cable maker Encore Wire at the beginning of July.
It will hold an investor day at the end of next month to update its long term targets following the acquisition.
The company on Thursday proposed to pay shareholders a dividend of 0.80 euros per share, up from 0.70 euros last year.
($1 = 0.9556 euros)
(Reporting by Giulio Piovaccari, editing by Giulia Segreti and Valentina Za)
