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PRYSMIAN GROUP | DIRECTORS’ REPORT

22

DEVELOPMENT OBJECTIVES AND STRATEGIES

FUNDAMENTALS OF OUR GROWTH STRATEGY

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 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 its mission, 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 solution-driven approach;

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:

Ability to anticipate/satisfy customer needs

. 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 sustainability.

Balanced and sustainable growth

. 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.

"Healthy" management and financial discipline

. 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