Prysmian Group, world leader in the energy and telecom cables and systems industry, will present its integrated Telecoms vision and identity on the world stage at next week’s FTTH Council Europe Conference. The Prysmian Group, formed as a result of the merging of industry leaders Prysmian and Draka will be present at the biggest FTTH event in Europe - the Council’s 9th annual conference and exhibition which takes place in Munich on 15th & 16th of February.

As the leading supplier of passive optical technology in Europe, the Group will also showcase for the first time its consolidated product portfolio which features the best technologies and products from both businesses under the Prysmian Group banner.

Phil Edwards, Executive VP of Telecoms at Prysmian Group, says: “The FTTH Council is a fantastic opportunity for us to show our credentials as the new Prysmian Group. As a combined company, with our collective knowledge and cohesive message, we have become the leading global player in the energy and telecom cable industry. The integration process is proceeding quickly and the Group has already presented its new organizational model, brand strategy and product range for both our businesses.”

Main product groups will include optical fibre with a focus on bend insensitive fibre technologies, cables and connectivity for application across the access network. The Group’s xsNet brand will also be launched at the event as the defining system of products targeted specifically at the FTTH market. Bringing this combined portfolio together into a clear structure under the xsNet brand is the defined product brand strategy of the Group.

Mr Edwards will make a presentation at the conference looking at trends in the market and how the industry is constantly innovating to keep ahead of the levels of demand. He says “We fully support the European Digital Agenda 2020 and as a company are convinced that a fibre based, open access infrastructure is fundamental to providing the future proof networks that this requires. Prysmian Group will maintain its strong commitment to innovation in order to develop the products and systems which will enable these networks to be created and sustained”

Prysmian Group is a Gold Sponsor of the FTTH Council Europe Conference. More than 3,000 visitors attended the event in Milan in 2011 and more are expected in Germany in 2012. The industry association’s objective is to promote the benefits of fibre access across the continent and accelerate the availability of fibre-based, ultra-high-speed access networks to both consumers and businesses.

For more information about the event or for details of the programme visit www.ftthcouncil.eu. 

Prysmian Group
Prysmian Group is world leader in the energy and telecom cables and systems industry. With sales of some €7 billion (pro-forma 2010 Prysmian/Draka) and 22,000 employees across 50 countries and 98 plants, the Group is strongly positioned in high-tech markets and provides the widest range of products, services, technologies and know-how. In the Energy sector, Prysmian Group operates in the business of underground and submarine power transmission cables and systems, special cables for applications in many different industrial sectors and medium and low voltage cables for the construction and infrastructure industry. In the Telecom sector, the Group manufactures cables and accessories for the voice, video and data transmission industry, producing optical fibres, optical cables and connectivity. Prysmian is listed on the Milan Stock Exchange in the Blue Chip index.

For media information please contact Sheila Lashford at sheila.lashford@proactive-pr.com or Holly Tyrrell at holly.tyrrell@proactive-pr.com or call on +44 1636 812152.

Prysmian Group, world leader in the energy and telecom cables and systems industry, will showcase its state-of-the-art technologies at MEE 2012, the biggest event in the Middle East for the electrical industry, that will take place in Dubai from February 7th to 9th (stand 3G30, Hall 3).

The participation at MEE 2012 represents, for the Prysmian Group, the first official event presence in the Region after the recent merger between Prysmian and Draka that has led to the creation of the largest cable maker in the world, a stronger group even more focused on fast-changing customer needs, with an extended footprint in more than 50 countries. The Middle East, where the Group has already carried out several strategic power cable projects, is a key area for the Company’s expansion strategy, especially in the Extra High Voltage underground and submarine cable systems market.

Among the several projects awarded, the high-profile development that better represents the key role played by the Prysmian Group in the region is the 400 kV power transmission system for TRANSCO that will connect the Bahia and Saadiyat Grid Stations,in Abu Dhabi. The project consists in providing engineering, manufacturing, installation and commissioning of the 400 kV cable system and related network components. It can be classified as the largest 400 kV underground cable system in the region – triple circuit route of 25 km for a total of 230 km of extruded insulation cable - and the largest EHV XLPE cable system in the world (in terms of contract value) ever awarded to a single supplier. Execution is currently in progress.

The Group’s product portfolio at MEE 2012 will focus on a full range of state-of-the-art power cables including HV and EHV underground and submarine cable systems for applications such as interconnections between power grids, links between natural or artificial islands and the mainland, and connections to, or between, offshore oil production and wind power generation facilities. Prysmian Group will also be presenting P-Laser, the first high performance eco-sustainable Medium Voltage cable for power distribution grids. The new product is characterized by an innovative production process and “zero-gas technology” that contributes to increase energy efficiency and to reduce greenhouse gas emissions. To complete the available portfolio on display there will be cable solutions for the Oil, Gas and Petrochemical industry, including innovative specialties such as Drylam™ and Airguard™ Cable System (with enhanced features and reduced environmental impact, specifically designed for critical environments), FP® fire resistant cables and Umbilicals.

Achievements and actions, again demonstrate Prysmian Group’s leading position and the validity of the Group’s know-how and technologies in the development of state-of-the art power cable systems and the commitment to support the development of smarter and greener power grids worldwide.

Prysmian
A leading player in the industry of high-technology cables and systems for energy and telecommunications, the Prysmian Group is a truly global company with sales in excess of € 3.7 billion in 2009 and a strong position in higher value-added market segments. With its two businesses, Energy Cables & Systems (submarine and underground cables for power transmission and distribution, for industrial applications and for the distribution of electricity to residential and commercial buildings) and Telecom Cables & Systems (optical cables and fibres and copper cables for video, data and voice transmission), Prysmian boasts a global presence with subsidiaries in 39 countries, 56 plants in 24 countries, 7 Research & Development Centres in Europe, USA and South America, and around 12,000 employees. Specialising in the development of products and services designed to customer customers’ specific requirements, Prysmian's key strengths include: a focus on Research & Development, the capacity to innovate products and production processes, and the use of advanced proprietary technologies. Prysmian is listed on the Milan Stock Exchange in the Blue Chip index.

Prysmian Group
Prysmian Group is world leader in the energy and telecom cables and systems industry. With sales of some €7 billion (pro-forma 2010 Prysmian/Draka), 22,000 employees across 50 countries and 98 plants, the Group is strongly positioned in high-tech markets and provides the widest range of products, services, technologies and know-how. In the Energy sector, Prysmian Group operates in the business of underground and submarine power transmission cables and systems, special cables for applications in many different industrial sectors and medium and low voltage cables for the construction and infrastructure industry. In the Telecom sector, the Group manufactures cables and accessories for the voice, video and data transmission industry, offering a complete range of optical fibres, optical and copper cables and connectivity systems. Prysmian is listed on the Milan Stock Exchange in the Blue Chip index.

Prysmian Group, world leader in the energy and telecom cables and systems industry, will present its latest full range of products and services for the wind power industry at “EWEA Offshore 2011”, the world's largest offshore wind energy event that will take place in Amsterdam (The Netherlands) from November 29 to December 1 (booth 9238).

The merger between Prysmian and Draka led to the creation of a stronger group even more focused on fast-changing customer needs. Leveraging technologies and experience from both companies, the new Prysmian Group is now able to offer a wider product range for the whole renewable energy sector. Positive demand expectations for the wind energy sector in Europe, driven mostly by Germany, Denmark and Eastern Europe (worldwide annual capacity increase is expected to total 250 GW between 2011 and 2015) and consequent long term growth perspectives have taken the Prysmian Group to further strengthen its commitment to this strategic and added-value sector.

At “EWEA Offshore 2011” the Prysmian Group will display the full range of products and services for the wind power industry available through the 2 highly complementary commercial brands Prysmian and Draka. In addition to AC and DC high power transmission capacity submarine cable systems to connect windmills among them and to ensure the connection with the power supply network, the Group’s product portfolio relies on the availability of advanced turbine cabling solutions with high resistance to abrasion, UV radiations, corrosion, bending and torsion stress for increased efficiency, reliability and safety, specifically designed to meet highly demanding conditions of plants and installation areas, including also harnessed “plug and play “ cable sets (pre-connectorized cables for fast installation in all type of turbine).

The Prysmian Group has acquired and completed several offshore wind farm development projects in Northern Europe. In Germany, namely, the Group has recently secured the HelWin2 project for the grid connection of offshore wind farms, the fourth project of this kind awarded in the last 15 months, following BorWin2, HelWin1 and milestone-setting SylWin1 (highest rated system – so far - for VSC technology with a power rating of 864 MW operating at the highest commercially available voltage level of ± 320 kV DC). The Prysmian Group is also an active part and key player in organisations and partnerships aimed at promoting the development of large scale power connections for the utilization of power coming from renewable sources such as “Friends of the Supergrid” and “Medgrid”.

Prysmian Group
Prysmian Group is world leader in the energy and telecom cables and systems industry. With sales of some €7 billion (pro-forma 2010 Prysmian/Draka), 22,000 employees across 50 countries and 98 plants, the Group is strongly positioned in high-tech markets and provides the widest range of products, services, technologies and know-how. In the Energy sector, Prysmian Group operates in the business of underground and submarine power transmission cables and systems, special cables for applications in many different industrial sectors and medium and low voltage cables for the construction and infrastructure industry. In the Telecom sector, the Group manufactures cables and accessories for the voice, video and data transmission industry, offering a complete range of optical fibres, optical and copper cables and connectivity systems. Prysmian is listed on the Milan Stock Exchange in the Blue Chip index.

The nine-month 2011 results consolidate Draka only for the period March-September 2011 
 • Sales: €5,604 million (organic change +12.0%) 
 • Adj EBITDA : €408 million (€281 million in 9m 2010) 
 • Adj operating income : €305 million (€224 million in 9m 2010) 
 • Adj net profit : €168 million (€120 million in 9m 2010) 
 • Net result: negative €159 million after €199 million provision for antitrust investigations 
 • Net financial position €1,389 million (€459 million at 31 December 2010)

The Board of Directors of Prysmian S.p.A. has approved today the consolidated results for the first nine months of 2011 (not subject to audit).

"The Group has been able to take advantage of the upturn in market demand started in the second half of 2010 by delivering an increase in organic growth for the sixth quarter in a row", states CEO Valerio Battista. “Nine-month volume growth has allowed a recovery in adjusted EBITDA and an improvement in operative cash flow. After introducing the new organisational and management structure, the integration with Draka is proceeding according to plan and is also starting to be realised through product range integration on the commercial front, and by optimising the manufacturing and logistical footprint. At the end of the third quarter we are able to confirm our initial annual profit target, despite the recent deterioration in the macroeconomic environment".

FINANCIAL RESULTS

Sales amounted to €5,604 million compared with €3,330 million in the first nine months of 2010. Assuming the same group perimeter (excluding the Draka contribution of €1,580 million for the period March-September 2011, net of €28 million in intragroup transactions) and excluding metal price and exchange rate effects, the organic change was +12.0%. Draka's sales for the nine-month period January-September 2011 came to €1,998 million, reporting organic growth of 5.8%. Nine-month organic growth for the new Prysmian Group (including Draka for the entire period) would have been 9.9%.

Adjusted EBITDA increased by 45.3% to €408 million from €281 million in the first nine months of 2010. This increase is attributable to €22 million from organic sales growth by all businesses within the Prysmian perimeter and €105 million from the consolidation of Draka since March 2011.

EBITDA amounted to €148 million. The decrease from €272 million in the first nine months of 2010 is primarily attributable to higher net non-recurring expenses of €251 million, of which €199 million in provisions for risks arising from ongoing antitrust investigations and €27 million related to restructuring charges mainly attributable to the beginning of the Draka integration.

Adjusted operating income amounted to €305 million, up 36.9% from €224 million in the first nine months of 2010. This increase is attributable to €21 million in higher profits generated by organic growth in the Prysmian perimeter and €60 million from the consolidation of Draka since March 2011.

Operating income, including the effects of non-recurring items and fair value changes in metal derivatives and in other fair value items, was negative €53 million (positive €212 million in the first nine months of 2010). This change is mainly attributable to the non-recurring expenses (of which €199 million for the provision against the risks arising from ongoing antitrust investigations) as well as the negative fair value change in metal derivatives. Draka consolidation in the Group perimeter positively contributed for €34 million.

Net finance income and costs reported a negative balance of €92 million (negative €79 million in the first nine months of 2010). The negative change of €13 million is primarily due to the growth in net debt following the Draka acquisition (€501 million cash outlay plus €357 million for the consolidation of Draka's net financial position at 28 February 2011), but also reflects changes in the composition of financial structure after entering a Forward Start Credit Agreement for €1,070 million in January 2010, issuing a bond for €400 million in April 2010 and finalising a credit agreement for €800 million in March 2011. These new agreements have significantly extended average debt maturity, which is now about 3 years. Another reason for the increase in finance costs is the rise in leverage following the Draka acquisition so that the ratio of net financial position to adjusted EBITDA is now between 2.0x-2.5x, leading to a slight increase in the spread applied to existing bank credit.

Adjusted net profit was 40.0% higher at €168 million (€120 million in the first nine months of 2010); the increase reflects the growth in adjusted operating income and the first-time consolidation of Draka. The net result was affected by the provision of €199 million for risks relating to antitrust investigations and by the restructuring charges partially attributable to the beginning of the Draka integration, resulting in a net loss of €159 million compared with a net profit of €92 million in the first nine months of 2010.

Net financial position at the end of September 2011 was €1,389 million. The increase from €459 million at 31 December 2010 is attributable to the following factors:
- cash outlay of €501 million for the acquisition of Draka;
- consolidation of the Draka net financial position of €357 million as at 28 February 2011;
- net positive cash flows from operations of €333 million, before changes in net working capital;
- increase of €118 million in net working capital due to seasonal factors and the increase in metal prices;
- net operative investments of €81 million;
- payment of €36 million in dividends;
- net negative cash flows of €170 million primarily due to taxes and finance costs.

INTEGRATION WITH DRAKA AND STRATEGY DEVELOPMENT

Integration with Draka strengthens Group’s offer in the offshore oil market. Wider range of products in TLC and Industrial cables, better customer services and wider geographical reach

The launch of the new organisational and management structure, effective from July 2011, allowed identifying a 25% reduction of senior management, by the first quarter of 2012, and the appointment of approximately 300 new key positions. The deployment of all operative structures is on going and will be completed by year end. The integration with Draka is proceeding according to plan and is also starting to be realised on the manufacturing, commercial and logistical fronts. 
  - In Brazil an important contract has been secured with Petrobras, a historic Prysmian customer, for the supply of DHT (Downhole Technology) cables produced by Draka at its Bridgewater plant in the USA. Draka’s DHT cables complete and further enhance Prysmian's products portfolio in the oil off-shore extraction business, which already includes umbilicals and flexible pipes, offering interesting new commercial sinergies.
  -  In the Telecom cables business, the availability of worldwide fibre production capacity allows to reduce production and logistics costs, with consequent improvement in margins. Commercially, the Group can now leverage on the most extensive and competitive product range in the industry. 
  -  In the Industrial cables business, product ranges and customer portfolio in the automotive sector are in the process of being integrated and rationalised. In the renewables area, the enlarged offer is helping improve geographical reach, with the focus on high growth markets.
  -  In the T&I business, current integration of the product ranges is improving the offer mix by focusing on high end products and key global customers.

Lastly, as anticipated when announcing the half-year results, the target for annual run-rate synergies has been raised to €150 million (by 2015). The initial benefits are expected to be seen at the end of 2011.

• Investments of some €81 million mainly in high-tech businesses

In line with its strategy, during the first nine months of 2011 the Group took forward some €81 million in net operating investments (of which €68 million relating to the pre-acquisition perimeter), mainly related to high-tech businesses, which was €18 million more than in the first nine months of 2010. These investments were concentrated on completing the new plant in Brazil for flexible offshore oil drilling pipes, which started operation at the end of June, and on expanding production capacity for high voltage cables in China and France and for submarine cables in Italy and Finland.

• Investments in high-growth-potential countries on target

In addition to the investments to develop the SURF business in Brazil and high voltage in China, the Group is proceeding with plans to strengthen its presence in Russia (where production of cables for the oil&gas and automotive sectors has started and where a new high voltage plant is being built) and in India, where the new management structure has been defined and integration of the Ravin JV completed. Following the Draka acquisition, the Group now has two production facilities in Russia (power cables in Rybinsk and telecom cables in St. Petersburg) and two in India, in Pune and Chuplin.

ENERGY CABLES AND SYSTEMS PERFORMANCE AND RESULTS

 • Submarine cables order book covers sales for more than two years
 • Positive demand for high voltage underground cables
 • Stabilized volumes for power distribution
 • T&I: start of year volume recovery slows in third quarter 
 • Industrial: higher sales and profits

Sales to third parties by the Energy Cables and Systems segment amounted to €4,640 million (including the Draka contribution of €1,024 million for the period March-September 2011, net of €21 million in intragroup transactions). Net of metal price and exchange rate effects and changes in the group perimeter, organic growth was 11.1%, particularly thanks to an upturn in volumes. Adjusted EBITDA amounted to €320 million, up 25.0% from €256 million in the first nine months of 2010. The increase reflects the contribution of €53 million by Draka (consolidated since March 2011) and the improvement of €11 million by the pre-acquisition perimeter.

Draka's energy business reported €1,319 million in sales to third parties for the entire period (January-September 2011), with organic growth of 3.5%. The Energy segment's overall nine-month organic growth (including the Draka perimeter for the entire period) would have been 9.0%.

Market trends and profitability will now be discussed for the Energy segment's business areas but only with reference to the pre-acquisition perimeter (along with a few brief comments about the Draka perimeter).

Utilities
Sales to third parties by the pre-acquisition Utilities business amounted to €1,589 million, delivering organic growth of 17.8% thanks to volume recovery for basically all business lines even if with differences in timing and between geographical areas. Organic sales growth converted into higher profitability, with adjusted EBITDA increasing by 2.7% to €187 million, despite the rising cost of raw materials and competitive pressure particularly in emerging markets. The Draka Utilities business reported €87 million in sales in the first nine months of 2011 (of which €72 million consolidated by Prysmian as from March 2011). The Group's overall organic growth in the first nine months of the year (including Draka for the entire period) would have been +18.7%.

Sales by the submarine business line increased thanks not only to progress on the major power interconnection projects acquired by the Group (particularly, Romulo in the Iberian Peninsula/Balearic Islands, Messina II in Italy, Doha Bay in Qatar and Hudson in the USA) but also to the contribution of smaller jobs carried out in Europe particularly in the third quarter. The Group has also won a significant number of projects to connect offshore wind farms in the past year. The value of the order book at the end of the first nine months of 2011 assures sales visibility for a period of more than two years. The European Union's recently restated commitment to developing renewable energy and to upgrading electricity grids opens up further growth opportunities for the Group, which has duly added extra production capacity up and running from the fourth quarter of the year.

Demand for high voltage underground cables has been positive, even if the economic and financial environment in the third quarter has triggered some sale price pressures. Sales growth was particularly driven by renewable energy projects and/or energy saving projects involving existing European grids (Italy, United Kingdom and France) and by projects to develop new infrastructure in emerging markets like Russia, Turkey, the Middle East, Brazil and India. The order book is solid, offering sales visibility for about one year.

Volumes in the power distribution business stabilised at a high level after a prolonged period of recovery. Demand in Europe was driven by the United Kingdom, Nordic countries and Eastern Europe. Brazil and Australia led the recovery outside Europe, while the USA failed to show signs of reversing the negative trend. During the third quarter the contraction in metal quotations helped stabilise prices and prevent further downward pressure.

Trade & Installers
Sales to third parties by the pre-acquisition Trade & Installers business amounted to €1,242 million, posting a slight organic decrease (-0.4%) basically due to volume stabilisation and the high comparative figures for the third quarter of 2010. Constant attention to improving offer mix increasingly towards higher value-added products, combined with adept management of fluctuations in raw material and metal prices, made it possible to limit the negative impact on profits. Adjusted EBITDA amounted to €30 million (-6.0% on the first nine months of 2010).
In Europe the Group succeeded in maintaining its market share by particularly focusing on consolidation of commercial ties with large international distributors; demand was more robust in North and East Europe, while weaker in Italy and Spain. In South America positive construction sector trends produced a slight improvement in sales, despite the emergence of increased price pressure in the second and third quarters.
Draka's nine-month sales to third parties amounted to €623 million (of which €492 million consolidated by Prysmian for the period March-September 2011).The Group's overall organic growth (including Draka for the entire period) would have been 0.2%.

Industrial
Sales to third parties by the pre-acquisition Industrial cables business amounted to €681 million, reflecting continued improvement with 17.1% organic growth. Adjusted EBITDA amounted to €49 million, reporting an increase of €8 million thanks to a reasonable recovery in demand in various parts of the world.

The market scenario has proved stable or slightly better, particularly in the third quarter. The anticipated recovery in demand particularly occurred in the oil, mining and infrastructure markets in high-growth geographical regions like APAC, the Middle East and South America. The Group aims to increase its presence in products and services for the offshore oil industry thanks to the new flexible pipes plant in Brazil which came on stream in the third quarter. First orders for flexible pipes acquired from Petrobras worth some $20 million. Further momentum will come from integration and development of cross-selling opportunities with Draka, which in turn has secured contracts to supply DHT (Downhole Technolgy) cables to Petrobras, a historic Prysmian customer now joining Draka's DHT customer list, which already includes names like Schlumberger, Baker Hughes, BJ Services and GCDT. In the renewables segment, double-digit growth was achieved in the wind business, where the Group is stepping up its presence in high-growth markets (South America, China, India and Australia), while demand in the solar segment was weak in the absence of new investment incentives. Demand was stable in the automotive segment, where the Group is currently rationalising its portfolio to focus on higher value-added products/customers. Demand was also stable for elevator cables, in which the Group is world leader thanks to Draka.

In the first nine months of 2011 Draka reported sales to third parties of €609 million (of which €481 million consolidated by Prysmian for the period March-September 2011). The Industrial business would have had overall organic growth (including Draka for the entire period) of 9.4%. Draka's presence in the Industrial business is particularly important in geographical markets (such as North America) and product segments (infrastructure and elevator cables and renewable energy solutions) that complement those of Prysmian.

TELECOM CABLES AND SYSTEMS PERFORMANCE AND RESULTS

• strong organic sales growth
• robust demand for optical cables in principal geographical markets
• significant increase in Adj ebitda

Sales to third parties by the Telecom Cables and Systems segment amounted to €964 million (including €556 million for the consolidation of Draka from 1 March 2011, net of €7 million in intragroup transactions), posting a sharp acceleration in organic growth to +20.0%. This growth was particularly driven by a significant increase in fibre optic cable volumes in North America, Europe (even though investment volumes by incumbent operators remained limited), South America and Australia (where the Group started work on the National Broadband Network project during the third quarter). The opportunities for the new Group to capitalise on new global fibre production capacity will help reduce production and logistics costs, thus promoting further margin recovery.

Volumes also recovered for MMS (Multimedia & Specials), particularly in Germany and France, and for OPGW (Optical Ground Wire) in South America and Europe, while demand weakened for copper cables for which the Group’s focus is on generating cash by reducing production costs.

Adjusted EBITDA amounted to €88 million with an increase of €63 million on the equivalent period in 2010 (following its consolidation from 1 March 2011, Draka's contribution to this result was €52 million).

The integration with Draka represents a significant turning point for the Telecom business, by creating a world leader in terms of both size and the technology, products and services offered, particularly in the optical fibre and optical cables market. Draka's nine-month Telecom sales to third parties amounted to €679 million. The Telecom segment's overall nine-month organic growth (including Draka for the entire period) would have been 13.8%.

BUSINESS OUTLOOK

The first nine months of the year have confirmed the increase in demand and industrial production that started from the second half of 2010. The upturn in global demand has been largely driven by growth in emerging markets, while recovery in Europe continues to be weak, partly because of deficit-cutting policies implemented in various countries. In the United States, government stimulus packages have allowed the start of a modest economic recovery since last year. However, growing concerns about Eurozone and US debt sustainability represent a source of uncertainty over the growth prospects for global demand in upcoming quarters.
In such an economic context, the Group confirms for FY 2011 an increase in medium voltage cable volumes for Utilities and in those products in the Industrial sector most exposed to cyclical trends. Instead, after a small first-half increase on the prior year equivalent period, the third quarter saw the building wires business report a slowdown in recovery in several geographical areas. Lastly, positive demand development continues in the high value-added businesses of power transmission, renewable energy, Oil & Gas and fibre optic cables for major telecom operators.
Based on the results achieved in the first nine months, combined with the size of the current order book, adjusted EBITDA for FY 2011 is confirmed in the range of €530-€580 million (FY 2010: €387 million). This range includes the contribution of the Draka acquisition, consolidated from 1 March 2011.

OTHER RESOLUTIONS BY THE BOARD OF DIRECTORS

The Board of Directors has voted to appoint, effective from 11 November 2011, Mr. Jordi Calvo (Planning & Controlling Director) and Mr. Carlo Soprano (Financial Statement & Compliance Director) as "managers responsible for preparing corporate accounting documents" under art. 154-bis of Legislative Decree 58/1998. Such appointment following the join of Mr. Carlo Soprano to Prysmian Group. The Board of Directors, during the meeting held on 29 September 2011, temporarily granted the Director and CFO Mr. Pier Francesco Facchini with the role of managers responsible for preparing corporate accounting documents. This appointment has been made with the favourable opinion of the Board of Statutory Auditors and in compliance with the integrity and competence requirements established by applicable legislation and the Company's By-laws.

Prysmian Group
Prysmian Group is world leader in the energy and telecom cables and systems industry. With sales of some €7 billion (pro-forma 2010 Prysmian/Draka), 22,000 employees across 50 countries and 98 plants, the Group is strongly positioned in high-tech markets and provides the widest range of products, services, technologies and know-how. In the Energy sector, Prysmian Group operates in the business of underground and submarine power transmission cables and systems, special cables for applications in many different industrial sectors and medium and low voltage cables for the construction and infrastructure industry. In the Telecom sector, the Group manufactures cables and accessories for the voice, video and data transmission industry, offering a complete range of optical fibres, optical and copper cables and connectivity systems. Prysmian is listed on the Milan Stock Exchange in the Blue Chip index.

Prysmian Group, world leader in the energy and telecom cables and systems industry, is stepping up its expansion into the business of products and services for the offshore oil industry. The new flexible pipes plant in Brazil is now fully operational and the integration with Draka has broadened the product range to special DHT (Downhole Technology) cables, opening up new opportunities in the North American market. The Group also announces the acquisition of important orders from Petrobras worth a total of some $50M, for the supply of flexible pipes to connect platforms to wellheads thousands of metres below sea level, and special DHT cables, including fibre optics to control downhole instrumentation, power and hydraulic fluid cables. It is worth highlighting the significant Brazilian content of these projects, both in terms of local workforce and know-how development and with regard to the use of domestic raw materials.

"The start of full operations by the new plant in Brazil and the acquisition of the first important commercial contracts – explains Fabio Romeo, Energy Business Senior Vice President - marks a sharp acceleration in the Group's expansion plans in the high-tech sector of flexible pipes for offshore oil production. In addition, Draka's entry into the Group has expanded the range of technologies and products offered, created interesting cross-selling opportunities, as in the case of the Petrobras contract for DHT cables, and accelerated this business's expansion outside of Brazil, such as the USA and other areas of the world where oil is produced offshore such (West Africa, Northern Europe and ASEAN). By the end of 2011 we expect to have made more than $150M sales in this market - covering flexibles, umbilicals and DHT cables - confirming the importance of this high-tech business for the Group".

Built with an investment of some $150M, including R&D, the plant stretches over an area of 15,000 sqm and has the capacity to produce more than 150km of flexible pipes per year with a workforce of some 400 employees. The new plant complements the existing umbilical cables plant, opened in 2007 still in Vila Velha, and Draka's two Downhole Technology cable plants in Massachusetts and New Jersey, USA. Petrobras remains the main customer and technological partner, but following the Draka integration, the Group has widened its customer base to prestigious oil industry names like Schlumberger, Baker- Hughes, BJ Services, GCDT and Roxar.

In detail, the Petrobras contracts refer to around 25km of 2 ½” and 4” flexible flow lines for the Sidon and Namorado oil fields, and are worth a total of some $20M. The first contract awarded by Petrobras to Draka is for the supply of DHT cables for various fields in the Campos Basin, and is worth a total of some $30M over 3 years. This contract means not only further consolidation of the Petrobras relationship but also a first important benefit deriving from the integration. With Prysmian not previously present in this product category, the new Group has now a wider range of technologies and can capitalise on Draka's already established presence in the American market

Prysmian Group
Prysmian Group is world leader in the energy and telecom cables and systems industry. With sales of some €7 billion (pro-forma 2010 Prysmian/Draka), 22,000 employees across 50 countries and 98 plants, the Group is strongly positioned in high-tech markets and provides the widest range of products, services, technologies and know-how. In the Energy sector, Prysmian Group operates in the business of underground and submarine power transmission cables and systems, special cables for applications in many different industrial sectors and medium and low voltage cables for the construction and infrastructure industry. In the Telecom sector, the Group manufactures cables and accessories for the voice, video and data transmission industry, offering a complete range of optical fibres, optical and copper cables and connectivity systems. Prysmian is listed on the Milan Stock Exchange in the Blue Chip index.

Prysmian Group
Prysmian Group is world leader in the energy and telecom cables and systems industry. With sales of some €7 billion (pro-forma 2010 Prysmian/Draka), 22,000 employees across 50 countries and 98 plants, the Group is strongly positioned in high-tech markets and provides the widest range of products, services, technologies and know-how. In the Energy sector, Prysmian Group operates in the business of underground and submarine power transmission cables and systems, special cables for applications in many different industrial sectors and medium and low voltage cables for the construction and infrastructure industry. In the Telecom sector, the Group manufactures cables and accessories for the voice, video and data transmission industry, offering a complete range of optical fibres, optical and copper cables and connectivity systems. Prysmian is listed on the Milan Stock Exchange in the Blue Chip index.

Prysmian Group
Prysmian Group is world leader in the energy and telecom cables and systems industry. With sales of some €7 billion (pro-forma 2010 Prysmian/Draka), 22,000 employees across 50 countries and 98 plants, the Group is strongly positioned in high-tech markets and provides the widest range of products, services, technologies and know-how. In the Energy sector, Prysmian Group operates in the business of underground and submarine power transmission cables and systems, special cables for applications in many different industrial sectors and medium and low voltage cables for the construction and infrastructure industry. In the Telecom sector, the Group manufactures cables and accessories for the voice, video and data transmission industry, offering a complete range of optical fibres, optical and copper cables and connectivity systems. Prysmian is listed on the Milan Stock Exchange in the Blue Chip index.

The first-half 2011 results consolidate Draka only for the period March-June 2011

• Sales: €3,574 million (organic change +13.0%)
• Adj EBITDA: €269 million (€181 million in 1H 2010)
• Adj Operating Income: €204 million (€143 million in 1H 2010)
• Adj Net Profit: €113 million (€77 million in 1H 2010)
• Net Financial Position: €1,378 million (€459 million at 31 December 2010)

The Board of Directors of Prysmian S.p.A. has approved today the consolidated results for the first half of 2011.

"The first half of 2011 has confirmed the signs of recovery in demand seen from the second half of last year, resulting in a volume increase for the majority of businesses", states CEO Valerio Battista. "The half-year results report significant growth in sales and especially in profitability. The integration with Draka will further enhance the Group's competitiveness: the launch of the new organisational structure at the start of July marks a fundamentally important step forward in the integration process. The new Group has become operational and aims to achieve the first synergies as early as 2011, having also raised the annual run-rate target to €150 million. Despite continued signs of market weakness and recent turmoil on the financial front, we nonetheless confirm our targets for the year thanks to a strong order book ensuring ample sales visibility for the higher value-added businesses". 

FINANCIAL RESULTS

Sales amounted to €3,574 million compared with €2,148 million in the equivalent period of 2010. Assuming the same group perimeter (excluding the Draka contribution of €921 million for the period March-June 2011, net of €10 million in intragroup transactions) and excluding metal price and exchange rate effects, the organic change was +13.0%. Draka's sales for the entire six-month period January-June 2011 came to €1,322 million, reporting organic growth of 6%. Six-month organic growth for the new Prysmian Group (including Draka for the full half year) would have been 10.6%.

Adjusted EBITDA increased by 48.3% to €269 million from €181 million in the first half of 2010. This increase is attributable to €20 million from organic sales growth by all businesses within the Prysmian perimeter and €68 million from the consolidation of Draka since March 2011. In terms of business, the improvement primarily came from the Utilities business and the Telecom operating segment.

EBITDA amounted to €26 million. The decrease from €175 million in the first half of 2010 is primarily attributable to net non-recurring expenses of €243 million, of which €200 million in provisions for risks arising from ongoing antitrust investigations. In view of recent developments in the European Commission's investigation, the receipt of a notice of indictments from the same Commission and the information that it has been possible to obtain in relation to this process, Prysmian now believes that it is able to estimate the risk relating to all the jurisdictions concerned, except Brazil, and so has recognised a provision of €200 million, on top of the €5 million provided in the past.

Adjusted operating income amounted to €204 million, up 42.2% from €143 million in the first half of 2010. This increase is attributable to €20 million in higher profits generated by organic growth in the Prysmian perimeter and €41 million from the consolidation of Draka since March 2011.

Operating income, including the effects of non-recurring items and fair value changes in metal derivatives, was a negative €72 million versus a positive €115 million in the equivalent period of 2010. This change can be analysed as follows: decrease of €204 million in the pre-acquisition Prysmian Group's operating income, primarily due to non-recurring expenses as well as the negative fair value change in metal derivatives; addition of €37 million from the first-time consolidation of Draka; negative impact of €20 million for adjusting acquired assets and liabilities to fair value in accordance with IFRS 3.

Net finance income and costs reported a negative balance of €62 million, compared with a negative €52 million in the first half of 2010. The negative change of €10 million is primarily due to the growth in net debt following the Draka acquisition (€501 million cash outlay plus €357 million for the consolidation of the Draka Group's net financial position at 1 March 2011), but also reflects changes in the composition of financial structure after entering a Forward Start Credit Agreement for €1,070 million in January 2010, issuing a bond for €400 million in April 2010 and finalising a credit agreement for €800 million in March 2011. These new credit agreements have significantly extended the average maturity of the Group's debt, which is now about 3.2 years. Another reason for the increase in finance costs is the rise in leverage following the Draka acquisition to a level now between 2.0x-2.5x for the ratio of net financial position to adusted EBITDA, leading to a slight increase in the spread applied to existing bank credit.

Adjusted net profit was up 47.0% to €113 million (€77 million in the first half of 2010); the increase is due to the growth in operating income and the first-time consolidation of Draka. The Net result was affected by the provision of €200 million for risks relating to antitrust investigations, resulting in a loss of €156 million compared with a profit of €44 million in the first half of 2010.

Net financial position at the end of June 2011 was €1,378 million, down from €1.460 million at 31 March 2011. The increase from €459 million at 31 December 2010 is attributable to the following factors:

- cash outlay of €501 million for the acquisition of Draka;
- consolidation of the Draka net financial position of €357 million as at 1 March 2011;
- net positive cash flows from operations of €216 million, before changes in net working capital;
- increase of €107 million in net working capital due to seasonal factors and the increase in metal prices;
- net operative investments of €46 million;
- payment of €36 million in dividends;
- net negative cash flows of €88 million primarily due to taxes and finance costs.

INTEGRATION WITH DRAKA AND STRATEGY DEVELOPMENT

• Integration with Draka: target annual run-rate synergies revised up to €150 million
Following detailed review of the potential cost synergies from the Draka integration the annual run-rate target has been raised to €150 million (by 2015) from the previously announced figure of €100 million, while target cost synergies of €100 million by 2013 have been confirmed. Net restructuring costs to generate these synergies are expected in the region of €200 million over the integration period. The initial benefits are expected as early as the second half of the current year.

• New organisational and management structure launched
The launch of the new organisational and management structure, effective from July 2011 has marked a fundamentally important step forward in the integration process with Draka. With the aim of utilising best practice in both companies it has been decided to adopt a matrix organisational model in which the more local businesses are principally managed along geographical lines and the global businesses are managed vertically. Following a process involving and making the most of the Group's best resources, the new management team has been selected, comprising more than 300 positions worldwide. At the same time as developing the new organisation, the Group has agreed and adopted a new Mission and a new branding strategy that will allow it to utilise and make the most of both the Prysmian and Draka brands.

• Investments of some €46 million in high-tech businesses
In line with its strategy, during the first half of 2011 the Group took forward its plans for developing high-tech businesses, making some €46 million in net operating investments (of which €37 million relating to the pre-acquisition perimeter), which was €15 million more than in the first half of 2010. These investments have concentrated on completing the new plant in Brazil for flexible offshore oil drilling pipes, which started operation at the end of June with the first 2.5" and 4.0" pipes delivered to Petrobras, and on expanding production capacity for high voltage cables in China and France and for submarine cables in Italy and Finland.

• Focus on growth in high-growth-potential businesses and countries
The new Prysmian Group further fortifies the focus on high-growth-potential businesses. In the renewable energy sector, where the Group was already leader in offshore wind farm links, it now has a stronger presence in industrial cables used in the construction of wind and solar installations. Thanks to the integration with Draka, the new Group has become leader in fibre optic cables, with production facilities around the globe and a wider product portfolio.
Geographically the new Group has a wider exposure to promising Asian markets following recent acquisitions in India and Russia that have allowed it to make significant progress in the plans to develop a presence in these markets.

ENERGY CABLES AND SYSTEMS PERFORMANCE AND RESULTS

• AWARD OF HUDSON AND HELWIN II SUBMARINE PROJECTS
• UPTURN IN DEMAND FOR HIGH VOLTAGE UNDERGROUND CABLES
• CONTINUED VOLUME GROWTH FOR POWER DISTRIBUTION
• T&I: START OF THE YEAR VOLUME RECOVERY SLOWS IN SECOND QUARTER
• INDUSTRIAL: GOOD SECOND-QUARTER ORGANIC GROWTH. NEW PROJECTS SECURED IN OGP AND UMBILICALS

Sales to third parties by the Energy Cables and Systems segment amounted to €2,989 million (including the Draka contribution of €606 million for the period March-June 2011, net of €9 million in intragroup transactions). Net of metal price and exchange rate effects and changes in the group perimeter, organic growth was 12.3%, particularly thanks to an upturn in volumes and improvement in product mix. Adjusted EBITDA amounted to €215 million, up 31.1% from €164 million in the first half of 2010. The increase reflects the contribution of €37 million by Draka (consolidated since March 2011) and the improvement of €14 million by the pre-acquisition perimeter.

Draka's energy business reported €890 million in sales for the entire six-month period (January-June 2011), with organic growth of 4.3%. The Energy segment's overall six-month organic growth (including the Draka perimeter for the full half year) would have been 10%.

Market trends and profitability will now be discussed for the Energy segment's business areas but only with reference to the pre-acquisition perimeter (along with a few brief comments about the Draka perimeter).

Utilities
Sales to third parties by the Utilities business amounted to €1,047 million, reporting organic growth of 19.4% due to volume recovery in all business lines even if with differences in timing and between geographical areas. Organic sales growth converted into higher profitability, with adjusted EBITDA increasing to €134 million (+11.6% on €120 million in the first half of 2010), despite the rising cost of raw materials and strong competitive pressure particularly in emerging markets.

The Draka Utilities business, comprising power distribution and submarine cables, reported €57 million in sales in the first six months of 2011 (of which €42 million consolidated within Prysmian as from March 2011). The Group's overall organic growth in the first six months of the year (including Draka for the full half year) would have been 20.2%.

Sales by the submarine business line increased on the prior year, confirming the Group's technological and market leadership in major power interconnection projects and in connections for new renewable power generation sites, such as offshore wind farms. During the first half of the year Prysmian was awarded the Hudson project for a new submarine power line into the heart of Manhattan. Furthermore, following award of the contract to link the Helwin II offshore wind farm to mainland Germany, the Group has strengthened its position as a partner in one of the world's most important programmes to develop renewable energy. Integration with Draka will allow the Group to enlarge its technological offering of medium voltage interarray submarine cabling. Thanks to investments underway in Italy and Finland, as from the third quarter the Group will have new production capacity to benefit from the growing demand. At the end of June the order book already provides sales visibility for about two and a half years.

Demand for high voltage underground cables confirmed the signs of recovery, allowing the Group to increase its sales. In Europe projects relating to renewables and improving the efficiency of existing grids were among the principal drivers of market growth. Another source of growth was development of new infrastructure in emerging countries, with new transmission grid projects secured in South America and, for the first time, in India. In North America the recovery was modest, while greater demand is expected in the second half in areas like Russia, China and the Middle East. However, profitability continues to be under pressure partly due to the upward trend in raw material prices. The order book provides sales visibility for about one year.

The power distribution business reported the first concrete signs of trend reversal, with an increase in demand thanks to the general recovery in energy consumption. North and East Europe, Brazil and Australia particularly drove the acceleration in demand, while the introduction of new P-Laser technology is proceeding positively. Overall sales reported double-digit growth (although it is worth recalling that the first half of 2010 was particularly weak), despite continued price pressure that nonetheless started to ease slightly during the second quarter.

Trade & Installers
Sales to third parties by the Trade & Installers business amounted to €835 million compared with €699 million in the first half of 2010, reporting organic growth of 3.3% although with mixed trends over the period. During the first quarter the beginnings of an upturn in the construction sector had generated signs of a recovery in cable demand, particularly in Europe. However, this trend failed to consolidate in the second quarter with demand returning to its level at the end of 2010 and renewed pressure on prices, particularly in Germany, France, Spain and Italy. North America reported a slight increase in volumes, although experiencing persistent price pressure, while South America continued to enjoy a positive trend both in volumes and prices. In terms of profitability, despite actions to improve industrial processes, adjusted EBITDA came to €19 million, largely in line with the first half of 2010.
Draka's six-month sales amounted to €422 million (of which €289 million consolidated within the Prysmian perimeter for the period March-June 2011).The Group's overall organic growth (including Draka for the full half year) would have been 2.2%.
The integration with Draka is a driver for potential improvement in the Group's T&I competitiveness, thanks to optimisation of production capacity, leaner cost structure, sharing of best practice in customer service and stronger presence in higher value-added markets.

Industrial
Sales to third parties by the Industrial cables business amounted to €432 million (€344 million in the first half of 2010), reporting organic growth of 12.0%. Adjusted EBITDA amounted to €25 million, posting a minor decrease of €1 million on the equivalent period in 2010.

In the first six months of 2011 Draka reported sales of €411 million (of which €284 million consolidated within Prysmian for the period March-June 2011) and organic growth of 4.8%. The Industrial business would have had overall organic growth (including Draka for the full half year) of 8.4%. Draka's presence in the Industrial business is particularly important in geographical markets (such as North America) and product segments (infrastructure and elevator cables and renewable energy solutions) that complement those of Prysmian.

The market scenario has proved stable or slightly better. In terms of individual segments, OGP & SURF displayed an upturn in demand, particularly in APAC, North America, the Middle East and South America, where new orders for umbilicals were secured and the first flexible pipes delivered to Petrobras. In the renewables segment, wind energy drove growth in China and Australia, partly making up for weakness in Europe. The solar segment was affected in Europe by withdrawal of government subsidies, while new projects were acquired in Turkey and North America: volumes are expected to recover in the second half of the year. In the automotive segment, growth in the USA compensated for lower volumes in Japan, while Europe remained stable. Cables for the mining, transport, aerospace and nuclear sectors reported positive growth trends, while demand in the maritime sector and for dockside cranes was weak.

TELECOM CABLES AND SYSTEMS PERFORMANCE AND RESULTS

• GOOD ORGANIC SALES GROWTH
• STRONG DEMAND FOR OPTICAL CABLES IN ALL GEOGRAPHICAL MARKETS
• IMPROVEMENT IN PROFITABILITY

Sales to third parties by the Telecom Cables and Systems segment amounted to €585 million (including €315 million for the consolidation of Draka from 1 March 2011, net of €1 million in intragroup transactions), reporting organic growth of 17.6%, particularly thanks to fibre optic cable volume growth in nearly all geographical markets and a volume upturn for copper cables. In particular, demand for optical cables in more developed countries has been driven by projects to expand metropolitan area networks, while the driver of growth in emerging countries has been the construction of large backbone infrastructure.

Adjusted EBITDA amounted to €54 million with an increase of €37 million on the equivalent period in 2010 (following its consolidation from 1 March 2011, Draka's contribution to this result was €31 million).

The integration with Draka represents a significant turning point for the Telecom business, by creating a world leader in terms of size and of the technology, products and services offered, particularly in the optical fibre and optical cables market.

Draka's first-half Telecom sales amounted to €432 million, with organic growth of 9.5%. The Telecom segment's overall six-month organic growth (including Draka for the full half year) would have been 12.5%.

BUSINESS OUTLOOK

The first six months of the year have confirmed the upward trend in demand and industrial production that started from the second quarter of 2010. The progressive upturn in global demand has been largely driven by growth in emerging markets, while recovery in Europe was weaker, partly because of deficit-cutting policies implemented in various countries. In the United States, government stimulus packages allowed demand to start recovering during the prior year. The growing concerns about Eurozone and US debt sustainability could however be a source of uncertainty over prospects for growth in global demand.
In such an economic context, the Group expects to see a limited recovery in 2011 for building wires, medium voltage cables for utilities and for those products in the Industrial sector most exposed to cyclical trends. Positive demand development is confirmed in the high value-added businesses of power transmission, renewable energy, Oil & Gas and fibre optic cables for major telecom operators.
Based on the results achieved in the first six months, combined with the size of the current order book, adjusted EBITDA for FY 2011 is confirmed in the region of €530-€580 million (FY 2010: €387 million). This range is related to development of demand on the reference markets in the second half of the year and includes the contribution of the Draka acquisition, consolidated from 1 March 2011.

ANTITRUST

The European Commission has sent the Company a notification of indictments in relation to the investigation started in January 2009 into the high voltage underground and submarine cables market. This document contains the Commission's preliminary position on alleged anti-competitive practices and does not constitute advance notice of its final decision. Prysmian has therefore had access to the Commission's dossier and, while fully co-operating, will present its defence against the related allegations. Also considering the recent developments in the European Commission investigation, Prysmian now believes that it is able to estimate the risk relating to the antitrust investigations underway in the various jurisdictions, except for Brazil. The amount provided at 30 June 2011 amounts to Euro 200 million, on top of the Euro 5 million provided in the past.
This amount has been determined on the basis of partly subjective considerations and solely represents an estimate since the outcome of the investigations underway in the various jurisdictions is still uncertain.


Prysmian's Half-Year Financial Report at 30 June 2011, approved by the Board of Directors today, together with the independent auditors’ report, will be available to the public from 26 August 2011, at the Company's registered offices in Viale Sarca 222, Milan and at Borsa Italiana S.p.A..It will also be available on the corporate website at www.prysmian.com.
The present document may contain forward-looking statements relating to future events and operating, economic and financial results of the Prysmian Group. By their nature, forward-looking statements involve risk and uncertainty because they depend on the occurrence of future events and circumstances. Therefore, actual future results may differ materially from what is expressed in forward-looking statements as a result of a variety of factors.
The managers responsible for preparing corporate accounting documents (Massimo Branda and Jordi Calvo), hereby declare, pursuant to art. 154-bis par. 2 of Italy's Unified Financial Act, that the accounting information contained in this press release corresponds to the underlying documents, accounting books and records.

Prysmian Group
Prysmian Group is world leader in the energy and telecom cables and systems industry. With sales of some €7 billion (pro-forma 2010 Prysmian/Draka), 22,000 employees across 50 countries and 98 plants, the Group is strongly positioned in high-tech markets and provides the widest range of products, services, technologies and know-how. In the Energy sector, Prysmian Group operates in the business of underground and submarine power transmission cables and systems, special cables for applications in many different industrial sectors and medium and low voltage cables for the construction and infrastructure industry. In the Telecom sector, the Group manufactures cables and accessories for the voice, video and data transmission industry, offering a complete range of optical fibres, optical and copper cables and connectivity systems. Prysmian is listed on the Milan Stock Exchange in the Blue Chip index.

Prysmian, world leader in the energy and telecommunications cables and systems industry, has been awarded a new major contract worth in excess of € 200 million by the Dutch-German grid operator TenneT for the connection project HelWin2, linking offshore wind farms in the North Sea to mainland Germany.

Prysmian will provide complete supply, installation and commissioning of the submarine and land cable connections as part of a larger contract worth approximately € 600 M, awarded to the consortium of Prysmian and Siemens Energy. Siemens will deliver the Voltage Sourced Converter (VSC) system, with a rating of 690 MW. The turnkey connection will link the offshore wind park Amrum Bank West in the ‘HelWin’ Cluster zone located about 55 km offshore in the North Sea to the mainland with the purpose of transmitting power from renewable source into the German Grid.

The HelWin2 project will use extruded HVDC cable technology from Prysmian together with Siemens HVDC Plus® converter technology at the offshore platform and onshore stations. The approximately 130 km HVDC connection to be supplied by Prysmian’s European HV factories shall comprise of subsea and land cable types at a voltage of ± 320 kV DC along an 85 km sea route plus a 45 km land route to the land converter station in Büttel, north-west of Hamburg. Extruded 155 kV HVAC submarine cable connections shall complete the link from the offshore wind park transformer to the offshore converter platform. The cables and accessories will be manufactured in the period 2012-2014 at Prysmian’s European HV factories. Commissioning and commencement of commercial operation of the HVDC link is planned for 2015

"This achievement reconfirms the Group’s key role to support the new energy policy set by the German government - the most important programme for the development of renewable energies in Europe” said Fabio Romeo, Director of Energy Business, Prysmian Group. “Prysmian is ready to deliver its know-how and technologies to face the challenges implied by the anticipated shut-down of nuclear plants (by 2022 vs. 2034) and the increase of renewables output (with a current 10 GW offshore wind target) by 2020“.

The project is the fourth of this kind awarded in the last 15 months to Prysmian following BorWin2, HelWin1 and milestone-setting SylWin1 (highest rated system – so far - for VSC technology with a power rating of 864 MW operating at the highest commercially available voltage level of ± 320 kV DC). The Group has developed a wide range of state-of-the-art products and technologies for the renewable energies sector, where Prysmian is acquiring a pre-eminent role in the development of HVDC cables for power transmission. 

Prysmian Group
Prysmian Group is world leader in the energy and telecom cables and systems industry. With sales of some €7 billion (pro-forma 2010 Prysmian/Draka) and 22,000 employees across 50 countries and 98 plants, the Group is strongly positioned in high-tech markets and provides the widest range of products, services, technologies and know-how. In the Energy sector, Prysmian Group operates in the business of underground and submarine power transmission cables and systems, special cables for applications in many different industrial sectors and medium and low voltage cables for the construction and infrastructure industry. In the Telecom sector, the Group manufactures cables and accessories for the voice, video and data transmission industry, producing optical fibres, optical cables and connectivity. Prysmian is listed on the Milan Stock Exchange in the Blue Chip index.