Italian group Prysmian has raised its full-year 2025 guidance after reporting a historically strong financial performance in the third quarter. Revenue reached more than €5bn ($5.29bn), up 9.2% year-on-year, exceeding market estimates, which had expected €4.9bn ($5.18bn). Growth was driven mainly by demand for high-voltage cables for underground, submarine, and overhead infrastructure.
Net profit boosted by strategic asset disposals
Net profit rose sharply to €596mn ($630mn), a 244.5% increase compared to the previous year. This jump was partly due to the sale of a stake in Chinese company Yangtze Optical Fibre and Cable Joint Stock Limited Company (YOFC). In light of these results, Prysmian now expects full-year earnings before interest, taxes, depreciation and amortisation (Ebitda) between €2.375bn ($2.51bn) and €2.425bn ($2.56bn), up from a previously lower range.
Strong momentum in high-value segments
High-voltage cables saw significant growth, with a 39% increase in underground and submarine infrastructure, and 14.8% in overhead lines. The low-voltage cable segment, which remains the group’s core business, remained stable at +0.3%. Declines in the automotive and elevator sectors were offset by gains in construction and industrial activities, especially in the United States.
US expansion and potential stock market listing
The group also posted a 13.3% increase in revenue from connectivity solutions, driven by the integration of US-based Channell, acquired in spring 2025. This segment, focused on data centres, contributed to margin improvement. Prysmian continues to expand across the Americas with a targeted external growth strategy, although no major new acquisitions are expected before 2026, allowing time to integrate both Channell and Encore Wire Corporation.
Market reaction and copper price signals
Despite the strong results, Prysmian’s share price fell 4.80% on the Milan Stock Exchange during the session, amid a broader market downturn. Analysts noted that the group has yet to benefit from favourable copper price movements — a key raw material — but consider this a potential upside for 2026.
