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PRYSMIAN GROUP | DIRECTORS’ REPORT
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capital employed in order to maximise cash flow generation and the return on investment. The Group also
aims to maintain adequate financial leverage for its strategy of organic and acquisition-led growth.
Transparency, corporate governance and market and investor confidence
. The Group pays particular
attention to its relations with financial markets, shareholders and investors, also because of its public
company status. Its focus in this sense is on ensuring precise maintenance of commitments and delivery of
target results. Transparency and credibility are also expressed in a system of corporate governance based
on strict interpretation and application of the relevant regulations and the adoption of principles and decisions
drawn from international best practices.
Expansion and growth
. The Group's development strategy follows the dual track of growth in size and
continuous improvement in profitability. The Group pursues both organic growth of the business, based on a
selective investment policy and development of commercial and production synergies, and acquisition-led
growth. The search for growth opportunities is primarily focused on higher value-added high-tech businesses,
while in terms of geographical expansion, the Group mainly invests in countries and markets capable of
ensuring high rates of growth and profitability.
Rationalisation and efficiency of industrial and commercial processes
. Prysmian has consolidated over
time the ability to optimise its industrial processes, including by integrating and rationalising acquired
companies. In fact, the Group has been successfully conducting the process of integration with Draka since
2011 and is on track with its targets. It intends to drive forward the plan to extract synergies from rationalising
its organisation and industrial footprint, as well as from procurement activities. The development of synergies
with Draka also covers the commercial sphere, involving the integration of product ranges and enhancement
of customer service.
MARKET APPROACH
Prysmian Group has perfected a market approach over the years that puts the customer at the centre of its
strategic, organisational and business choices. Its commitment to analysing customer expectations and their
evolution over time allows the Group to develop organisational and operating models that translate into fast,
efficient and targeted responses to the markets concerned.
At the heart of this approach is
Customer Centricity
, which expresses itself in the ability to anticipate and
satisfy customer needs through its constant presence, from product design through to delivery, and its
provision of a level of service that is monitored against specific, agreed parameters.
Prysmian Group is able to develop solutions that not only meet specific standards but also satisfy precise
customer needs. In particular, the Group is able to serve very different segments and markets thanks to its
ad hoc matrix organisational structure that lets it have a local presence even for major global projects. This
means that markets with high local specificity are served by country commercial and development teams,
and that markets with global products and customers are followed by integrated business unit teams, while
other segments requiring a local presence and cooperation between countries draw on the matrix structure's
potential.