Progress isn't just about financial results: 2025 marked a profound cultural and organizational evolution. We have accelerated. I'm not just referring to numbers or sustainability targets, crucial as they are. I'm talking about an acceleration in our ability to seize market opportunities, to create value by listening to our customers, to develop solutions and services that make Prysmian truly unique. All of this has been possible thanks to the commitment of our almost 34,000 colleagues, active in 109 plants, 30 research centers, and all our offices around the world.
As we shared in New York last March, the opportunities that await us remain significant. Accelerating digitalization, the roll-out of data centers, and the application of artificial intelligence – to name only a few – are also generating new demand: a need for safe, reliable, and resilient electrical and digital infrastructures. In this context, Prysmian's role is increasingly strategic.
Our position comes with significant responsibility. We are the market leader because we lead in technology and innovation, and because we place great value on the growth of our people and the communities in which we operate. We hold a responsibility to collaborate with suppliers and customers who share our values, contributing to the sustainable development of the entire value chain.
Our financial strength and track record of delivery represent a growth platform that we will continue to strengthen. In 2025, we accelerated both organically and through targeted M&A transactions. I’m referring to the acquisition of Channell, which expanded our presence in the world of Digital Solutions in North America, and to the acquisition of Xtera and ACSM. These last two companies will further strengthen our leadership in the Transmission business through both vertical integration and expanding the service portfolio our Group can offer. This path runs parallel to the progressive repositioning of Prysmian, as we evolve from cable producer to a global world-class solutions provider capable of offering unique, high value-added systems and services.
Acceleration was the cornerstone of the "Accelerating Growth" plan presented in New York last year and shares the title of this Annual Integrated Report, and I am proud to have seen it take shape in 2025. But 2025 is only the beginning of a new growth cycle.
The results demonstrate this, both financially and in terms of sustainability: we have achieved record levels of revenue, profitability, and free cash flow. We have made significant progress in reducing greenhouse gas emissions across the entire value chain, increasing the use of recycled materials in our products, and have grown revenues from sustainability-linked solutions.
But there is a single number – 50 – that best sums up the value of our journey. At the end of the year, 50% of our employees were shareholders in the company. It's tangible proof that the value we generate is truly earned and shared by all.
The results that we have achieved are undoubtedly worth celebrating. They will take on even deeper meaning if we can transform these results into new growth in the months and years to come. That’s our commitment.
Massimo Battaini
Chief Executive Officer, Prysmian
