Financial Responsibility of the Group

Financial Responsibility

OVERVIEW

Upholding ethics and integrity across the board

When we do business, we do it right. We prize transparency, integrity and accountability. Always. On the strength of its solid reputation for performance and innovation, the Group is well positioned to deliver profits together with sustainable growth.

Our main goal is to be chosen by our clients for our reliability and transparency in relationships. This is why we attach such great importance to our values.

Our working methods and approach are a tangible sign of the passion and expertise that we bring to everything that we do. It is a truly customer-centred approach. Having such a solid reputation for performance and innovation means that we can also ensure profits and sustainable growth for our stakeholders, in both the short and long term.

“At the global level, we offer our clients strategy and telecom cables and systems based on cutting-edge technological solutions." 

On the strength of its solid reputation for performance and innovation, the Group is well positioned to deliver profits together with sustainable growth. Our main goal is to be chosen by our clients for our reliability and transparency in relationships. This is why we attach such great importance to our values. Our working methods and approach are a tangible sign of the passion and expertise that we bring to everything that we do.

It is a truly customer-centred approach. Having such a solid reputation for performance and innovation means that we can also ensure profits and sustainable growth for our stakeholders, in both the short and long term. 

Our code of ethics calls on each and every person in the group, from our board of directors, to our employees and interns, to conduct business in a manner consistent with our vision. It is a strategic part of our day-to-day business activities, helping prevent irresponsible or illegal conduct, and it evolves with us as we grow.

It is under-pinned by three main pillars:

  • Ethics in business activities
  • Ethics in internal relations
  • Ethics in environmental and social matters

Earning and keeping the trust of our customers, investors and stakeholders long-term is central to everything we do. As a public company we are committed to detailed, clear and timely communication of all information relevant to our business.

Discover Our Code of Ethics
WITH THE FINANCIAL MARKETS

We conduct over 400 meetings yearly

Our quarterly data is always relayed personally to institutional investors, financial analysts and specialist media representatives. Prysmian promptly informs shareholders and potential shareholders of any decisions likely to have a material impact on their investment. You can find out more in our dedicated Investor Relations section.

Distribution of economic value to stakeholders

Prysmian's statement of economic value distributed is based on the presentation of the income statement adopted in the consolidated financial statements for the year ended 31 December 2018 (Prysmian Group for the full year plus General Cable for seven months). In 2018, the economic value generated by Prysmian amounted to €10,240 million, of which €130 million of profits distributed to the Group's shareholders and minority interests, representing value retained. A significant share of this value was redistributed in the form of:

  • expenditures on Suppliers (81.8%) – including raw materials and other services;
  • remuneration of Human Resources (12.2%);
  • remuneration of Lenders (4.0%);
  • remuneration of the Public Administration (0.7%);
  • contributions to the Community of approximately €200 thousand (0.002%).