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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Prysmian S.p.A.    PRY   IT0004176001

PRYSMIAN S.P.A.

(PRY)
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Prysmian S p A : to spend 450 million euros by 2022 to accelerate net-zero emissions plan

11/25/2020 | 07:27am EST

MILAN (Reuters) - Cable maker Prysmian said on Wednesday it would spend around 450 million euros ($535 million) by 2022 to speed up plans to become net carbon neutral, adding to efforts by several large Italian corporations to cut their carbon footprint.

The world's largest cable maker said the project, announced during its Sustainability Day, aims to set science-based carbon reduction targets, in line with the Paris Agreement commitment to limit global warming.

Prysmian - which supplies cables for industries ranging from high voltage power transmission to offshore wind-farms, telecoms and cars - said it would further improve the sustainability of its organization and its supply chain and accelerate the development of advanced cable technologies, assets and services.

The amount to be spent is just over half of the capital expenditure Prysmian has planned to 2022.

The company in May pledged to raise the share of revenues from low carbon products to 50% by 2022 and reduce energy consumption by 3% in the same period, as part of plans to cut its carbon footprint.

However, a target set in May to cut carbon emissions by 2-3% by 2022 is expected to be revised to project a more aggressive cut.

($1 = 0.8406 euros)

(Reporting by Cristina Carlevaro and Giulio Piovaccari, editing by Giulia Segreti and Louise Heavens)


© Reuters 2020
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Financials
Sales 2020 10 213 M 12 369 M 12 369 M
Net income 2020 230 M 279 M 279 M
Net Debt 2020 2 061 M 2 496 M 2 496 M
P/E ratio 2020 34,6x
Yield 2020 1,49%
Capitalization 7 398 M 8 949 M 8 959 M
EV / Sales 2020 0,93x
EV / Sales 2021 0,85x
Nbr of Employees 29 000
Free-Float 91,6%
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Prysmian S.p.A. Technical Analysis Chart | PRY | IT0004176001 | MarketScreener
Technical analysis trends PRYSMIAN S.P.A.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 28,94 €
Last Close Price 28,10 €
Spread / Highest target 21,0%
Spread / Average Target 3,00%
Spread / Lowest Target -14,6%
EPS Revisions
Managers and Directors
NameTitle
Valerio Battista Chief Executive Officer, Executive Director & GM
Claudio de Conto Chairman
Andrea Pirondini Chief Operating Officer
Pier Francesco Facchini CFO, Executive Director & Head-IT
Marcelo de Araujo Andrade Senior Vice President-Research & Development