PRYSMIAN- 1Q18 - Good start to the year; getting ready for General Cable integration
Prysmian, the Italian cable manufacturer, published satisfactory results for 1Q18, with organic sales up 3.1% yoy and EBITDA margin broadly stable at 8.1% (vs. 8.3% last year)despite unfavorable exchange rates (-€13m on Q1 EBITDA) and a non-recurring impact (-€20m) related to a provision in submarine projects.
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.
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