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ISIN code: IT0004176001
Sector: Manufacturing chain
Industry: Electronic products
Le actions of Prysmian are listed on the Milan Stock Exchange under the ticker PRY.
Look at the history of the quotation of the share on the Milan Stock Exchange
Company Description
Prysmian SpA is an Italian company specialized in the production and design of cables for applications in the energy, telecommunications and optical fiber sectors. The company is a world leader in the production of cables for wind farms.
It is based in Milan.
The company, since its creation in 2005, has been led by the CEO Valerius the Baptist.
The acquisitions in 2012 of Drake and in 2017 by General Cable led to the birth of Prysmian Group, making the company a global player in the cable industry.
Prysmian is active in 50 countries with 104 production plants and 25 research and development centres. It has more than 28.000 employees.
The company's business and activities are diversified by portfolio and by geography. Prysmian manufactures and lays underground and submarine cables for the transmission and distribution of electricity, as well as special cables for use in various industrial sectors and medium and low voltage cables for construction and infrastructure. For telecommunications, the Group produces copper, optical and fiber optic cables for data, video and voice transmission.
I higher revenues come from the electric cables and wiring systems sector with 86,3% of the total for a sum of 7.207 million euro, followed by the telecommunications cables and wiring sector with 13,7% and a sum of 1.371 million.
I revenues in 2020 by geographical area come from:
- 43% EMEA Area ( Europe, Middle East, Africa)
- 10% (Italy)
- 31% North America
- 8% Latin America
- 8% Asia Pacific
Turnover in 2020 was over 10 billion euros with a net profit of 178 million.
Prysmian has been listed on the FTSE MIB index of the Milan Stock Exchange since 2007. The Group can be defined as a public company, with a 100% free float and 78% of the capital held by institutional investors. There are no majority or reference shareholders. Shareholders with significant stakes (over 3%) represented a total of around 26% of the capital.
I Prysmian's main shareholders, in January 2021, are:
- Blackrock Inc, 5,2%
- UBS AG, 4,0%
- T. Rowe Price Group, 3,9%
- Credit Agricole SA, 3,7%
- Sun Life Financial Inc, 3,2%
- AXA SA, 3,1%
- Schroders PLC, 3,0%
- The Vanguard Group Inc, 2,8%
- Hardman Johnston Global Advisors LLC, 2,7%
Geographically, institutional investors come mainly from the United States (more than 30% of the capital), followed by the United Kingdom (25%). Italy represents about 8% of the capital held.
As at 31 December 2020, the share capital of Prysmian SpA consisted of no. 268.144.246 shares, each with a nominal value of 0,10 euros, for a total of 26.814.424,60.
The tagline is «Linking the Future».
Economic and financial analysis of the company
Prysmian's origins can be found in the group Pirelli when, in 1879, the Pirelli Cables and Systems division. Prysmian was officially born in 2005 by Goldman Sachs. The investment bank decides to buy the Pirelli division by offering the sum of 1,5 billion euros. He will pay 225 million euros, the rest was debt to be downloaded to the new company.
Since 3 May 2007 the company has been listed on the Milan Stock Exchange and becomes part of the S&P MIB index of leading Italian companies.
In 2009 Goldman Sachs decides to dispose of its equity investment in Prysmian. In March 2010 the definitive exit from the company took place.
In February 2011, Prysmian launched an 840 million euro tender offer on Draka, Dutch company among the main operators in the world in the cable and optical fiber sector.
In December 2017, it acquired its rival General Cable, an American company for 3 billion dollars. The operation is made up of equity (1,5 billion) and financial debt.
In 2018 the merger by incorporation of General Cable into Prysmian. From the merger between these two companies, first and fourth in terms of turnover in the sector, the Prysmian Group. The Ebidta of the new company is 10 billion euros.
Prysmian annually invests more than 100 million euros in research and development. He developed a technology, P-Laser, for cable systems, which combines greater transmission capacity and environmental sustainability, using 100% recyclable materials and cutting carbon emissions by 40%.
The Group is also active in reducing its environmental impact and eliminating CO2 emissions over time.
It has a fleet of 4 cable ships. In 2021 it launched the Leonardo da Vinci cable-laying ship, which with its 171 meters in length is the largest in the world.
The latest news on Prysmian SpA
Stocks today, July 9: Europe rebounds, boosted by tech, but US-Iran concerns remain; bonds rise. In Milan, Stm, Prysmian, and banks are rallying – LIVE
EU stock markets are holding firm amid renewed tensions between the United States and Iran, while oil prices slow. Defense stocks are down in Milan. Salvini: "On Monday, we'll have a new CEO and FS team." Follow the LIVE broadcast.
Stock Market Today, July 3: Europe hits record highs without Wall Street. Banks in Milan are doing well, but luxury goods are down. A2a is ramping up its data center investments – LIVE
On a day without the beacon of Wall Street closed for the Fourth of July holiday, investors are looking to central banks and interest rate decisions – Follow LIVE
Ferrari and BMW are switching from copper to aluminum in their wiring, like Tesla. The high price of the red metal is changing their strategy. Pros and cons
Aluminum costs about a quarter of copper. But for certain sectors, such as electric cars, its lighter weight also matters. Substitution is also underway for companies producing electrical cables, including Prysmian, household appliances, and air conditioners. JP Morgan predicts further developments.
Prysmian: Work on the Cook Strait in New Zealand has begun. Its stock price rises.
Thanks to this authorization, the construction of the project has started and will now be included in Prysmian's project backlog.
Artificial intelligence: Investors are discovering European niches that have offered significant gains, including those of Stm and Prysmian.
After riding the US AI wave, investors are now seeking out AI stocks in Europe, where they've found excellent returns. Here are the most interesting stocks.