Prysmian : Start of year better than expected – guidance confirmed
>Q1 results better than expected - Prysmian’s Q1 results beat our expectations and those of the consensus. Quarterly sales came to € 3.687bn (€ 4.0522bn est., € 3.7097bn for css) vs € 3.992bn, down 7.6% and -5.6% in organic terms. These quarterly results reflect a slight drop in adjusted EBITDA of 3.5% to € 412m (€ 382m est., € 384.3m for css) vs € 427m y-o-y. The adjusted EBITDA margin thus came to 11.2% (9.4% est., 10.3% for css) vs 10.7% y-o-y up 50bp....Prysmian and its subsidiaries produce, distribute and sell cables and systems and related accessories for the energy and telecommunications industries. Co. operates in two segments. The energy segment includes utilities, which organized in four lines of business, comprising high voltage, power distribution, accessories and submarine; trade and installers; industrial; and other, such as sales of residual products. The telecom segment produces cable systems and connectivity products used in telecommunication networks. This segment is organized in the following lines of business: optical fibre, optical cables, connectivity components and accessories, Optical Ground Wire and copper cables.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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