Microvast Holdings announces departure of chief financial officer
Investing.com -- Prysmian (BIT:PRY) on Thursday upgraded its 2025 outlook following a strong second quarter performance that saw the company exceed expectations in most business segments.
The cable manufacturer reported second quarter revenues of €4,883 million, 2% above company consensus of €4,810 million. Organic growth reached 3.2%, below consensus expectations of 5.6%.
Adjusted EBITDA came in at €605 million, 4% ahead of company consensus of €581 million, with margins reaching 12.4%, approximately 30 basis points above expectations.
The company’s Renewable Transmission segment continued its strong performance with 22.8% organic growth, though slightly below consensus of 26.9%. The high-voltage backlog decreased slightly to approximately €16 billion.
Power Grids showed accelerated organic growth of 5.2%, exceeding consensus of 2.8%, and achieved record margins. The segment’s EBITDA beat expectations by 7%.
Electrification posted a 1.5% organic decline, compared to consensus expectations of 1% growth. Within this segment, Industrial & Construction weakened by 3.2% quarter-over-quarter, while Specialties returned to positive territory with 2.4% growth on easier comparisons.
Digital Solutions continued its recovery with 2.9% organic growth, below consensus of 5.5%, with EBITDA 15% ahead of expectations, benefiting from the Channell acquisition and organic improvements.
Free cash flow also exceeded expectations by 5%.
Prysmian has raised its 2025 outlook to account for the Channell acquisition (completed in June), USD devaluation impacts, and organic performance improvements.
The company now targets adjusted EBITDA of €2,300-2,375 million, up from the previous €2,250-2,350 million, and free cash flow of €1,000-1,075 million, increased from €950-1,050 million.
The revised EBITDA guidance is 1% above consensus at the midpoint, while the free cash flow target aligns with consensus expectations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.