With ‘outstanding’ financial results in 2023, Prysmian increases its decarbonization ambition

(Offshore-energy.biz) Italian cabling giant Prysmian in 2023 delivered what it says was a “remarkable performance” with “outstanding” financial results, record backlog in Transmission, as well as increased 2030 emission reduction ambition.

For the financial year 2023, Prysmian’s adjusted EBITDA rose by 9.4% to €1,628 million, with improving margins at 10.6% compared to 9.3% in 2022 – a year that Prysmian claimed was its best year ever in terms of financial results.

The Projects Business saw adjusted EBITDA up 23.5% at €300 million, while the Energy Business margins improved to 10.5% from 8.1% in 2022, said to be driven by higher profitability in power distribution and in particular in Industrial & Network Components, where adjusted EBITDA rose to €361 million, a 43.2% increase compared to 2022.

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