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Consolidated Financial Report |
DIRECTORS’ REPORT
2014 Annual Report
Prysmian Group
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The Group's medium-term growth strategy is based above all
on the shared principles of the corporate Mission and Vision.
Prysmian states in its Vision that it believes in "the efficient,
effective and sustainable supply of energy and information as
the principal driver for the development of communities". In
accordance with itsmission, the Group is therefore committed
to developing and applying advanced technological solutions
to provide its "customers worldwide with cables and systems
for energy and telecommunications" that represent effective,
efficient and sustainable solutions to their needs.
In short, Prysmian aims to play a role as an "enabler", in
partnership with its customers, for the economic and social
development of the countries in which it operates. Its
position as world leader in the energy and telecom cables and
systems industry also sees the Group in the prime role as a
promoter of growth and of continuous improvement in the
entire industry, both in terms of the technologies used and
the ability to develop suitable solutions with customers for
the new sources of power generation and data transmission.
The ability to produce constant innovations and to promote
awareness of the cable industry’s strategic role are the key to
Prysmian's market approach.
The Group places stakeholders at the centre of its business
strategy, the core guidelines of which are based on:
• Customer Centricity
, meaning provision of innovative
products and cable systems, truly inspired by a solu-
tion-driven rationale;
• Creating Value for Shareholders
, in terms of return on
investment and profitability in the short run, but above
all in the medium to long term.
The critical success factors for the Prysmian Group can be
represented as follows:
DEVELOPMENT OBJECTIVES AND STRATEGIES
As world leader in the energy and telecom cables and systems industry, Prysmian aims to serve
as an "enabler" for the economic and social development of the countries in which it operates.
The technologies and processes
used must be capable of developing
products and solutions that anticipate
and satisfy the needs of its customers.
This is why the Group constantly strives
to improve its competencies in the
areas of Research and Development,
Customer Centricity, human resource
development and environmental sus-
tainability.
Ability to anticipate/satisfy
customer needs.
The ability to combine short and
medium to long-term objectives,
measurable not only by short and
medium-term financial performance
to meet shareholders' expected return
on capital, but also by seeking healthy
creation of value through the adoption
of a system of governance and a
business model that allows such results
to be sustained over the long run.
Balanced and sustainable growth.
The Group aims to implement
"healthy" and prudent principles in its
financial management. In particular,
it pays great attention to operating
profitability and cash generation, with
a particular focus on working capital
management and the reduction of
fixed costs and capital employed in
order to maximise cash flow genera-
tion and the return on investment. The
Group also aims to maintain adequate
financial leverage for its strategy of
organic and acquisition-led growth.
"Healthy" management
and financial discipline.
Fundamentals of our growth strategy