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Prysmian sees FY adjusted EBITDA at lower end of guidance
November 6, 2013 / 5:46 PM / 4 years ago

Prysmian sees FY adjusted EBITDA at lower end of guidance

MILAN, Nov 6 (Reuters) - Italy’s Prysmian, the world’s largest cable maker, expects to report full-year core earnings at the lower end of its guidance due to currency effects of 20 million euros ($27 million), Chief Executive Valerio Battista said on Wednesday.

Prysmian, which manufactures cables for the telecommunications and power industries, had earlier forecast 2013 adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of between 600-650 million euros.

“We were expecting to be around the middle of the range,” Battista said during a conference call with analysts.

“With a 20 million euro (currency) effect... we will most probably be slightly lower than the central point, in the middle of 600-625 (million euros), unless the exchange rate changes significantly.”

$1 = 0.7392 euros Reporting by Agnieszka Flak, editing by Danilo Masoni

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