Prysmian to Exceed 2028 Financial Targets Two Years Early, Raises 2026 Guidance Again After its Best Quarter to Date

• Highest-ever quarterly Adjusted EBITDA at €851 million (+32.1%); organic growth accelerates to 13.1%. Margin reaches 16.8%1 (14.8%, Q3'25) 
• Excellent performance of Transmission continues with the margin at 20.0% (17.8%, Q3'25) and 23.1% organic growth
• Strong demand across regions supports Power Grid organic growth (+7.5%)
• Industrial & Construction: Encore Wire’s distinctive service model and data center demand power organic growth (+14.2%) and profitability (17.6% margin vs. 14.5%, Q3'25)
• Digital Solutions margin expands to 25.0% (19.6%, Q3'25) with continued organic growth (+17.3%). Outstanding performance built on the competitive advantage from U.S. fiber production and acceleration from Channell
• Sustainability-driven innovation lifts New Product and Solution Vitality to 32.2%, exceeding the 2028 strategic target (32%), supported by new solutions that improve data center efficiency
• 2026 guidance raised again thanks to high-quality performance across all businesses and contribution from Atkore:
  • Adjusted EBITDA between €3,075 million and €3,125 million, previously between €2,800 million and €2,900 million
  • Free Cash Flow between €1,750 million and €1,850 million, previously between €1,650 million and €1,750 million
• Prysmian to beat 2028 Adjusted EBITDA and Free Cash Flow targets two years ahead of schedule
• Prysmian expands Encore Wire site in Texas. Board approval for second copper rod mill

Massimo Battaini, Prysmian CEO: “This was Prysmian’s best quarter to date, and the high quality of these results gives us the confidence to raise our full-year guidance again. This milestone comes as we exceed our 2028 targets two years ahead of schedule, reflecting progress driven by a mix of organic growth and strategic acquisitions to reinforce our leadership in long-term growth markets. 

One of Prysmian’s great strengths is the breadth of our businesses. We connect countries through submarine power links, upgrade electricity grids and supply the solutions that are enabling digital infrastructure. Today we are even stronger. Atkore is extending our product portfolio and commercial footprint for customers in the U.S. and Xtera is opening a path to leadership in submarine telecom. These additions build on our proven ability to turn scale, proprietary know-how and deep customer relationships into sustained growth and increased profitability. 

Connecting what’s next starts with our people. They drive innovation in partnership with our customers and suppliers. Our collaboration with Amazon and Rio Tinto on low-carbon aluminum cables for data centers demonstrates the significant impact that we can achieve together. This winning combination of talent, technology and partnership makes Prysmian exceptional.”

FINANCIAL HIGHLIGHTS

^{* Organic growth.} 

^{** Comparative figures for the period ending on September 30, 2025, have been adjusted from those previously published following completion of the Purchase Price Allocation (PPA) of Channell.}

The Board of Directors of Prysmian S.p.A. has approved the Group’s consolidated results for the third quarter and first nine months of 2026. 

Group Revenues stood at €6,417 million in Q3'26 (€5,030 million, Q3'25), with +13.1% organic growth. There was growth across all business lines, with positive contributions from Transmission (+23.1%), Power Grid (+7.5%), Industrial & Construction (+14.2%), Specialties (+5.3%) and Digital Solutions (+17.3%). 

Revenues reached €17,656 million in the first nine months of the year, up from €14,684 million at 9M25, with +9.2% organic growth. 

Adjusted EBITDA rose to €851 million, an increase of 32.1% (€644 million, Q3'25). This is Prysmian’s best performance in a single quarter. 

The overall margin at standard metal prices was 16.8%, up from 14.8% in Q3'25. 

Transmission continued to deliver best-in-class profitability, with the margin reaching 20.0% (17.8%, Q3'25) and Adjusted EBITDA at €213 million (€152 million, Q3'25). Power Grid’s Adjusted EBITDA rose to €135 million, and the margin was 13.8% (14.7%, Q3'25). Industrial & Construction’s Adjusted EBITDA rose to €304 million, with the margin reaching 17.6% (14.5%, Q3'25). 

In Specialties, Adjusted EBITDA was €67 million (€70 million, Q3'25), and the margin was 10.7%. Profitability also accelerated in Digital Solutions, with Adjusted EBITDA at €134 million and the margin at 25.0% (19.6%, Q3'25). 

In 9M26, Adjusted EBITDA rose to €2,182 million (€1,776 million, 9M25), while the margin was 15.5% (14.1%, 9M25). 

EBITDA in 9M26 was €2,092 million (€2,103 million, 9M25). 

Net profit in 9M26 was €998 million (€977 million attributable to Group shareholders) versus €1,036 million (€1,019 million attributable to Group shareholders) in 9M25. The decrease, which was partially offset by improved operating performance in 2026, reflects a one-off gain from the sale of YOFC in 2025. 

Free Cash Flow LTM3 stood at €1,434 million on September 30, 2026 (€859 million, September 30, 2025).

Net Financial Debt stood at €2,857 million on September 30, 2026 (€4,318 million on September 30, 2025). This mainly reflects:

• Free Cash Flow of €1,434 million, comprising:
  • €2,252 million net cash flow provided by operating activities (before changes in net working capital);
  • €286 million cash generated by changes in working capital;
  • €887 million cash outflows for net capital expenditure;
  • €221 million of net finance costs paid; o €4 million of dividends received from associates;
• €52 million of coupon payments on the hybrid bond;
• €134 million of proceeds from investment and non-ordinary asset disposals;
• M&A activities totaling €325 million, mainly relating to the acquisitions of Channell and ACSM;
• €271 million in shareholder dividends;
• €847 million from the capital increase.

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