|Bid||33.29 x 0|
|Ask||0.00 x 0|
|Day's range||0.00 - 0.00|
|Beta (5Y monthly)||1.25|
|PE ratio (TTM)||30.56|
|Forward dividend & yield||0.55 (1.64%)|
|Ex-dividend date||19 Apr 2022|
|1y target est||N/A|
MILAN (Reuters) -A strong performance at its energy business, driven by growing demand for electricity, helped the world's biggest cable maker Prysmian to beat earnings expectations for the first nine months of 2022 and lift its forecasts for the full year. Milan-listed shares in Prysmian rose by as much as 4% after the results were published. The forecasts assume global supply chains will remain under pressure in the coming months, but without any further tensions or extreme changes in input prices, the company said.
MILAN (Reuters) -Italy's Prysmian has taken a number of steps to boost its energy efficiency amid fears of a cut-off of gas supplies from Russia, including a switch to LED lighting and using more renewable sources, a company spokesman told Reuters on Thursday. The world's largest cablemaker, which runs over 100 facilities around the world, has already installed LED lighting in 70% of those plants, saving around 45% of the energy used for lighting, the spokesman said. Prysmian has also installed or is currently installing photovoltaic parks in 10 of its facilities to tap the power of the sun, while it is equipping some pilot factories with mini-wind power plants, the spokesman added.
Italy's Prysmian plans to invest around 200 million euros ($226 million) to build a plant in the U.S. to produce submarine power transmission cables, CEO Valerio Battista said to the media in remarks confirmed by a company spokesman. The plant, to be built in Brayton Point, Massachusetts, is part of two contracts worth a total of almost $900 million that the world's largest cable maker has won in the Unites States on two offshore wind farm projects. Battista said the company would officially proceed with the plan after it completes "a due diligence on permits and feasibility" for the plant in mid-January.