EnergyWatch

Prysmian sees solid future in offshore wind

The company is battling to sell underwater cables despite French orders, while earnings have seen better days.

Photo: PR

The sale of cables for energy projects declined slightly for Prysmian in the first six months of the year. The report reveals that while the Italian cable manufacturer's revenue altogether went forward by four percent to EUR 3,94 billion, sales in Energy Projects division declined by 5.3 percent to EUR 685 million. On the other hand, the adjusted EBIT result went slightly forward to EUR 116 million against EUR 11 million for the same period last year.

"Sales have posted a marked improvement in the second quarter after a poor start due to adverse phasing in the Energy Projects business. The Group's profitability has continued to grow thanks to the contribution of the Telecom and Energy Projects businesses," said CEO Valerio Battista.

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