Italy\u0027s Prysmian sees core profit rising 34% by 2027 under new strategy

📆 2023-10-05 08:45:00

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$Italy\u0027s Prysmian sees core profit rising 34% by 2027 under new strategy$

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📆 2023-10-05 08:45:00
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MILAN - Prysmian sees its core profit rising around 34% through 2027 as the world's largest cable maker seeks to benefit from a global push towards cleaner energy and digital transformation, by building on its existing businesses.

This will help Prysmian increase its adjusted earnings before interest, tax, depreciation and amortisation to around 2 billion euros in 2027, from 1.49 billion euros last year, the company said in a statement. After having grown through acquisitions, with the purchase of Netherlands-based Draka in 2011 and U.S.-based General Cable in 2018, Prysmian now plans to grow by expanding capacity, funded through its own cash generation, the group said.

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