Published by Global Banking & Finance Review®
Posted on May 8, 2025
2 min readLast updated: January 24, 2026
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Prysmian's Q1 core profit increased by 28%, driven by its transmission business and the Encore acquisition, surpassing analyst expectations.
By Giulio Piovaccari
MILAN (Reuters) -Prysmian, the world's largest cable maker, beat forecasts on Thursday with a 28% jump in first-quarter core profit, supported by its transmission business and last year's acquisition of Encore Wire.
CEO Massimo Battaini said the group's industrial and construction (I&C) division, its largest by revenue and core profit, saw a "solid rebound" in March after a slow start to the year due to bad weather, weaker pricing and higher metal prices.
"March has seen a restoration of the previous trends and an improved trend, while April was probably one of the best months ever for Encore Wire, in our I&C perimeter in North America," he told analysts on a call.
He added Prysmian made "a big price increase in March, which is being followed by all competitors".
Prysmian announced the $4.2 billion purchase of U.S.-based Encore Wire in April last year and completed it at the beginning of July.
The CEO's comments helped the company's Milan-listed shares to extend gains after an initially muted response as analysts noted weak margins at Prysmian's electrification business, of which the I&C division is the main part.
At 0925 GMT, the shares were up 5.7%.
In January-March, Prysmian's adjusted earnings before interest, taxes, depreciation, and amortization rose to 527 million euros ($596 million), above analysts' consensus estimate of 510 million euros in a company poll.
Revenues rose 5% on an organic basis, driven mainly by its transmission business.
The company confirmed its forecasts for full-year results, provided in February.
"The market is certainly dynamic, there are certainly some headwinds", including from the euro/dollar exchange rate, Battaini said. Despite this, guidance is "still achievable, still within our reach".
However, he added that Prysmian would review its full-year forecasts once it completes the purchase of U.S. connectivity device manufacturer Channell, for up to $1.15 billion, a deal it announced in March along with its business plan to 2028.
The Channell acquisition is expected to close at the beginning of June, Battaini said, putting Prysmian in a position to potentially review full-year guidance in July, when it announces second-quarter results.
($1 = 0.8849 euros)
(Reporting by Giulio Piovaccari. Editing by Rashmi Aich and Mark Potter)
The article discusses Prysmian's Q1 core profit increase, driven by its transmission business and the acquisition of Encore Wire.
Prysmian's shares rose by 5.7% following the announcement of its Q1 profit results.
Prysmian plans to review its full-year forecasts after completing the Channell acquisition.
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