Prysmian raises guidance after its best quarter yet

• Best-yet quarterly performance: Adjusted EBITDA at €730 million; Revenues accelerate (+9.4% organic growth). Margin rises to 15.4% (14.5%, Q2’25)
• Prysmian cements its position as the front-running cable player for data centers after transformative Molex deal and capacity increase in Digital Solutions
• Outstanding profitability in Transmission with the margin at 21.2% (17.1%, Q2’25) and double-digit organic growth (+14.3%)
• Continued organic growth in Power Grid (+13.0%). Margin at 13.8%: sequential improvement vs. Q1'26
• Excellent organic growth (+9.1%) in Industrial & Construction, driven by data center demand in North America
• Quarterly margin jumps significantly to 23.8% (16.8%, Q2’25) in Digital Solutions thanks to optical cables and Channell. Organic growth accelerates (+18.0%)
• New Product and Solution Vitality in 1H26 reaches 2028 target (32%) two years ahead of schedule. 1H26 Sustainability-Linked Revenues rise to 45.9% (+2.2% vs. FY25)
• Significant FY Guidance upgrade:
  • Adjusted EBITDA between €2,800-€2,900 million (previously €2,625-€2,775 million)
  • Free Cash Flow between €1,650-€1,750 million (previously €1,300-€1,400 million)
• Prysmian is well-positioned to accelerate beyond 2028 targets. New Capital Markets Day to be held within 1H27

Massimo Battaini, Prysmian CEO: “Prysmian has a special advantage – connecting both energy and data. This represents a unique opportunity for us to capture long-term sustainable growth as the vast scale of energy and data infrastructure required to enable the new AI-driven economy is accelerating. I’m proud that we are maximizing this opportunity. Our results confirm not only excellent profitability and growth but also reflect the scale of our own evolution – in only one quarter we generated profit that recently took a full year to achieve. Looking ahead, the transformation of our Digital Solutions business is underway, as our existing strengths in connectivity and long-haul digital connections are complemented by major deals to enter the ‘inside’ data center space, enhancing our position in this fastgrowing segment. Based on what we have already achieved this year and our confidence in the future, we have significantly upgraded our full-year guidance, and thanks to our strong strategic and operational position, we are well placed to achieve our 2028 targets ahead of schedule. Building on this momentum, we look forward to sharing ambitious new targets at a Capital Markets Day in the first half of 2027.”

The Board of Directors of Prysmian S.p.A. has approved the Group’s consolidated results for the second quarter and first half of 2026.

Group Revenues in Q2’26 stood at €6,021 million (€4,883 million, Q2’25), with +9.4% organic growth. This was driven by excellent performance across the business, with significant organic growth from Digital Solutions (+18.0%), Power Grid (+13.0%), Transmission (+14.3%) and Industrial & Construction (+9.1%). There was -2.4% organic growth in Specialties.

In the first half of the year, there was +7.2% organic growth, reaching €11,239 million, up from €9,654 million at 1H25.

Adjusted EBITDA rose to €730 million, up 20.7% versus €605 million in Q2’25. This is Prysmian’s strongest-ever performance in a single quarter.

The overall margin at standard metal prices was 15.4%, up from 14.5% in Q2’25.

Transmission set its best-yet level of profitability with a 21.2% margin (17.1%, Q2’25) and Adjusted EBITDA at €179 million (€125 million, Q2’25).

Power Grid remained substantially stable with Adjusted EBITDA at €135 million (€134 million, Q2’25) and the margin at 13.8%, a sequential improvement from Q1’26.

Industrial & Construction’s Adjusted EBITDA was €228 million, with the margin at 13.6%.

In Specialties, Adjusted EBITDA was €67 million (€74 million, Q2’25), and the margin was 10.8%.

Digital Solutions saw a significant acceleration in profitability with Adjusted EBITDA almost doubling to €122 million, and the margin growing by 7.0 p.p. to reach 23.8%.

In 1H26, Adjusted EBITDA rose to €1,331 million (€1,132 million, 1H25), while the margin was 14.8% (13.8%, 1H25).

EBITDA in 1H26 rose to €1,276 million (€1,134 million, 1H25).

Net profit in 1H26 was €584 million (€569 million attributable to Group shareholders) versus €435 million (€424 million attributable to Group shareholders) in 1H25.

Free Cash Flow LTM on June 30, 2026, was substantially stable at €978 million, compared with €979 million as of the same period in 2025.

Net Financial Debt decreased to €4,079 million on June 30, 2026 (€4,694 million on June 30, 2025).

The decrease mainly reflects:

• Free Cash Flow for €978 million generated by
  • €2,099 million net cash flow provided by operating activities (before changes in net working capital);
  • €210 million net cash used by changes in net working capital;
  • €703 million cash outflows for net capital expenditure;
  • €216 million payments of net finance costs;
  • €8 million dividends received from associates;
• the passive interest from hybrid bond at €52 million;
• proceeds from the sale of the stake in YOFC and other disposals for €580 million;
• M&A activities (+€328 million) mainly the acquisition of Channell and ACSM;
• the dividend for shareholders (+€268 million).

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