Prysmian Group is accelerating its role in the global energy transition by enhancing critical infrastructure. The company, a leader in power and telecom cables, is focused on modernizing energy systems to facilitate the integration of renewable energy, electric vehicles (EVs), and smart grid technologies.
In 2024, Prysmian secured a €450 million loan from the European Investment Bank to expand its production capabilities for extra-high-voltage submarine and onshore cables. This funding allowed the company to double its output across three factories in Europe, increasing annual cable production from 2,000 kilometers to 4,000 kilometers. These high-capacity cables are vital for long-distance energy interconnections and offshore wind projects, which are essential for meeting the European Union’s climate goals for 2030.
A notable achievement includes Prysmian’s €929 million contract with Germany’s Amprion to supply high-voltage submarine cables for offshore wind farms. This project reinforces Prysmian’s competitive positioning in the growing renewable energy market. Furthermore, Prysmian has entered a long-term partnership with E.ON to upgrade Germany’s grid with low and medium voltage cables that will support EV charging, as well as solar and wind energy integration.
Prysmian’s commitment to sustainability is evident in its manufacturing practices. The company has incorporated up to 50% recycled polyethylene in its cable sheaths, resulting in an 80% reduction in carbon emissions compared to conventional materials. Additionally, over 80% of Prysmian’s aluminum is sourced from low-carbon facilities, and its factories operate using renewable energy sources, including solar and biogas.
In a strategic move to enhance its capabilities in smart grid technology, Prysmian acquired Channell for $950 million. This acquisition allows the integration of fiber-optic data infrastructure with high-voltage cables, enabling real-time monitoring and predictive analytics for grid operators. This combined approach is essential for managing the variability of renewable energy and maintaining grid reliability.
Financially, Prysmian is showing strong performance. In the first quarter of 2025, adjusted EBITDA increased by 15% year-over-year to €527 million, while revenue rose by 9.3% to €4.03 billion. The Power Grids & Renewables division now constitutes 56% of the company’s total revenue, reflecting a strategic shift towards high-margin projects aligned with decarbonization efforts. With an order backlog of €19.1 billion and a net debt-to-EBITDA ratio of 1.6, Prysmian has the financial flexibility to pursue further investments and acquisitions.
Prysmian’s alignment with global decarbonization initiatives and its robust market position make it an appealing investment opportunity. Its projects directly contribute to the EU’s REPowerEU plan and Germany’s energy transition, which are supported by strong policy frameworks. As demand for renewable energy and EV infrastructure grows, Prysmian’s products and solutions are expected to see increased adoption.
By focusing on innovation in materials and digital solutions, Prysmian aims to lead in the energy transition. Although the stock has experienced volatility, its solid fundamentals and strategic vision suggest a positive trajectory as Europe accelerates its grid modernization efforts and renewable energy initiatives. Prysmian is not just a cable manufacturer; it is an integral player in shaping the future of energy.
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