Prysmian (AO) | Hold | On the wings of Digital Solutions

研报英文原文证据摘录

Prysmian (AO) | Hold | On the wings of Digital Solutions

Italian Investment Conference Feedback

Release date: 20 May 2026

Matteo Bonizzoni

Head of Italian Equity Research

Hold +39 02 80 62 83 43Prysmian mbonizzoni@keplercheuvreux.com

Italy | Capital goods Beta Profile: MCap: EUR41.6bn

Target Price: EUR133.00 Bloomberg: PRY IM Reuters: PRY.MI

Current Price: EUR140.50 Free float 100%

Up/downside: -5.3% Avg. daily volume (EURm) 268.1

YTD abs performance 62.7% Market data: 19 May 2026

52-week high/low (EUR) 156.90/54.30

On the wings of Digital Solutions

Key points

Most of the discussion was centred on the bright outlook in the Digital Solutions segment, led by the hyperscalers' demand for

fibre and optical cables mounting in the US

Here, the CFO spent some interesting time on Digital Solutions, providing additional colour and context with respect to what was

anticipated by the CEO in the Q1 call.

Solid outlook, rich multiples. Hold TP EUR133.

Speaker

Pier Francesco Facchini, CFO

Temperature

The focus was on the "new driver", Digital Solutions, and to a lesser extent on other business segments.

Company’s pitch

The company spent some interesting targets on Digital Solutions, which were largely anticipated by the CEO in the Q1 call.

What’s new?

Digital solutions: this is the "new" positive trend, driven by fibre and optical cables to be used in datacenters, outside and inside

the building. Datacenters are spreading geographically from Virginia to other US states, which is leading to a greater need to

interconnect various datacenters. US content in Crucial and the three companies able to supply with a US local content are:

Corning, Prysmian, Furukawa, and Fujikura. Prysmian is discussing with hyperscalers framework agreements with a 3-7 year

horizon.