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PRYSMIAN RATING REPORT
Our rating reflects Prysmian’s global leading position in the energy & telecom cable markets and its positive long-term growing prospects in high margin businesses such as the power transmission (particularly in Submarine with over 3 years of backlog) and telecom units. The financial profile of the group is solid, with a relatively low net adjusted leverage that we anticipate to remain around its current level of 1.5x in the mid-term. Prysmian benefits from a sound track record of recurring p...
Slowdown in 4Q15 but still very solid
​Italy-based Prysmian Group is the world largest manufacturer of cables and systems for the energy and telecommunication industry. The group has published its 4Q15 results, which were in line with our expectations, and the group met the high end of its guidance for the full year. While the overall full year performance is impressive, Q4 marked a significant slowdown. Still, Prysmian continued over-performing its main competitor Nexans.
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