Efforts to increase energy independence in countries around the world and the outbreak of several conflicts are driving growth in the power cables market and fueling a surge in orders for Prysmian’s cable technology for renewable energy and electricity connection projects, said Transmission Vice President Hakan Ozmen.
This rise in demand for more reliable electricity access is set to boost earnings in Prysmian’s transmission segment with its adjusted EBITDA expected to increase to around €600 million by 2027 from the €300 million achieved in 2023, as it races to increase manufacturing and installation capacity, said Ozmen.