4
QUARTERLY OVERVIEW
The
fnancial statements For 2014
approved
by the Board of Directors of Prysmian
showed signs of slight recovery in sales
volumes, accompanied by a generally
stable level oF proftability.
CEO Valerio Battista
pointed out that the
decisive contributions to this result came
from the strategic Submarine Cables and
Systems business, with strong growth,
and From Optical Cables, with recovering
volumes and proftability. He stressed
that this was a particularly signifcant
result, having been achieved in a market
that remained challenging,
with demand
recovering
For
some
businesses,
like
Optical
Cables
and
Renewables,
but
weakness still evident in the more cyclical
sectors, such as Trade & Installers and
Power Distribution, along with a slowdown
in the Oil & Gas market. In this context, the
Prysmian Group has relentlessly pursued
its actions to contain costs and reorganise
its manuFacturing Footprint. This, combined
with e±cient fnancial management, helped
the Group maintain good cash ²ows and a
net fnancial position that was decidedly
better than initially expected. Prysmian
achieved the proft targets announced to
the market and rewarded its shareholders
with a proposed dividend in line with 2013
oF €0.42 per share, involving a total pay-out
oF approximately €90 million.
The Group posted positive organic growth with excellent
performance in Submarines and solid recovery in Telecoms.
Dividend in line with the previous year.
2014 targets met in
a still difficult market
