Prysmian S.p.A. (PRYMF) Q2 2025 Earnings Call Transcript

Prysmian S.p.A. (OTCPK:PRYMF) Q2 2025 Earnings Conference Call July 31, 2025 4:00 AM ET

Company Participants

Massimo Battaini – Group CEO, GM & Director
Pier Francesco Facchini – CFO & Executive Director

Conference Call Participants

Akash Gupta – JPMorgan Chase & Co, Research Division
Alessandro Tortora – Mediobanca—Banca di credito finanziario S.p.A., Research Division
Christopher Leonard – UBS Investment Bank, Research Division
Daniela C. R. de Carvalho e Costa – Goldman Sachs Group, Inc., Research Division
Lucas Ferhani – Jefferies LLC, Research Division
Miguel Nabeiro Ensinas Serra Borrega – BNP Paribas Exane, Research Division
Monica Bosio – Intesa Sanpaolo Equity Research
Sean D. McLoughlin – HSBC Global Investment Research
Uma Jun Samlin – BofA Securities, Research Division
Vivek Midha – Citigroup Inc., Research Division
Xin Wang – Barclays Bank PLC, Research Division
a division of S&P – Unidentified Company

Massimo Battaini

Thank you, and good morning, and welcome to the First Half ’25 Results Call. I’m very excited to show the results achieved in quarter 2 ’25, above EUR 600 million. This set a new record for the company EBITDA. The last best quarter was quarter 2 ’24 in the first quarter after the consolidation of Encore Wire, EUR 540 million, but EUR 605 million is definitely an outstanding performance that has beaten and outperformed the past results. It is true there is some EUR 10 million plus from Channell perimeter change, but there is also an adverse ForEx impact in our quarter 2 ’25 results versus the previous EUR 540 million of quarter 2 ’24. Amazing is the 14.5% in margins, indicating a significant accretion of margin across all business segments, Transmission, Power Grid, but also I&C and Digital Solution.

The organic growth in the first half posted a nice 4%, which is basically coming across all the segment of