Prysmian FY 2014 resultater

categories: Koncern 

16/03/2015 - 12:00 AM

PRYSMIAN S.P.A. 2014  RESUME

  • TARGETS MET IN STILL WEAK MARKET CONTEXT FOR ENERGY CABLES
  • POSITIVE ORGANIC GROWTH, WITH EXCELLENT PERFORMANCE BY SUBMARINE CABLES AND SOLID RECOVERY BY TELECOM
  • NET FINANCIAL POSITION AHEAD OF EXPECTATIONS
  • STABLE PROFITABILITY WITH ADJ EBITDA IN LINE WITH 2013 (EXCLUDINGWESTERN LINK)
  • PROPOSED DIVIDEND OF €0.42 PER SHARE

FY 2014 RESULTS

 SALES: €6,840 MILLION (ORGANIC GROWTH +1.8%VS 2013; +2.7%EXCLUDING WESTERN LINK)
 ADJ EBITDA1: €509 MILLION (-17.0%VS 2013); €603 MILLION EXCLUDINGWESTERN LINK (-1.6%VS 2013)
 ADJ OPERATING INCOME2: €365 MILLION (-21.5%VS 2013); €459 MILLION EXCLUDINGWEST. LINK (-1.3%VS 2013)
 ADJ NET PROFIT3: €186 MILLION (-32.0%VS 2013); €252 MILLION EXCLUDINGWESTERN LINK (-6.3%VS 2013)
 NET FINANCIAL POSITION: €802 MILLION (805 MILLION AT 31/12/2013)
 

The Board of Directors of Prysmian S.p.A. has approved today the Company's consolidated financial statements and separate financial statements for 20144.

"Our Group's performance in 2014 confirms signs of a slight recovery in sales volumes, accompanied by a generally stable level of profitability," commented CEO Valerio Battista. "The decisive contributions to this result were from the strategic Submarine Cables and Systems businesses, with strong growth, and from Optical Cables, with recovering volumes and profitability. This is a particularly significant result, having been achieved in a still difficult scenario, that has seen demand recover for some businesses, like Optical Cables and Renewables, but ongoing weakness in the more cyclical sectors, like Trade & Installers and Power Distribution, as well as a slowdown in the Oil & Gas market. In this context, the Group has relentlessly pursued its actions to contain costs and reorganise its manufacturing footprint. This commitment, combined with efficient financial management, has helped to ensure good cash flows and a decidedly better net financial position than initially expected. We are pleased to have achieved the profit targets announced to the market and we are able to reward our shareholders with a proposed dividend in line with 2013."

Read the full press release here: http://psp.prysmian.gph.local/News%20Attachments/2015/PR_Prysmian%20Group_FY%202014_25_02_15_EN.pd