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Prysmian 2012 adjusted net profit 282 mln euros
February 27, 2013 / 4:06 PM / 5 years ago

Prysmian 2012 adjusted net profit 282 mln euros

MILAN, Feb 27 (Reuters) - Prysmian, the world’s largest cables maker, said on Wednesday its 2012 adjusted net profit rose 22.1 percent to 282 million euros because of good performance at its energy cables business.

Lower costs from the merger with Draka also helped its bottom line, the company said. Prysmian said it adjusted its 2011 earnings to include pro forma revenue for Draka before its acquisition was completed.

Prysmian will pay a dividend of 0.42 euros per share for 2012, double what it paid in 2011.

Revenue for 2012 was 7.84 billion euros. Earnings before interest, tax, depreciation and amortization, or EBITDA, were an adjusted 647 million, in line with company forecasts.

Prysmian said it sees weak demand in the first part of 2013 for industrial and utility cables, and continued growth in its value-added energy and offshore oil and gas cables businesses. (Reporting by Jennifer Clark)

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