Prysmian: Digital Solutions‘ Molex deal secured, €10bn still in focus

研报英文原文证据摘录

Prysmian: Digital Solutions‘ Molex deal secured, €10bn still in focus

20 July 2026

Alasdair Leslie

+44 20 7762 4952

European Capital Goods alasdair.leslie@bernsteinsg.com

Prysmian SpA Om Kela

+44 20 7550 2192

Rating om.kela@bernsteinsg.com

Outperform Nicholas Witting

Price Target +44 20 7762 1411

nicholas.witting@bernsteinsg.com

PRY.IM 110.00 EUR Specialist Sales

James Brady

+44 20 7762 5272

james.brady@bernsteinsg.com

Prysmian: Digital Solutions' Molex deal secured, €10bn still in

focus

Prysmian this morning announced an agreement with Molex worth up to €5.5bn to supply

Close Date 17 Jul 2026

optical fiber cables into data centers, The company pointed to it being part of a wider set

PRY.IM Close Price (EUR) 125.35

of agreements with hyperscalers worth €10bn of cumulative revenues over the next 10

Price Target (EUR) 110.00

years. Whilst the scale of demand is positive, we note much of this opportunity had already

Upside/(Downside) (12)%

been signalled by management in recent months. One of the key questions is how much of

52-Week Range 157.25/62.36

the >€10bn revenue opportunity is already underpinned by firm contractual commitments

EDME 1,592.62

versus expected future awards or broader commercial initiatives (also cited by the company).

FYE Dec

Clarification on contractual coverage and potential additional down payments (on top of the

Div Yield 0.7%

€550m directly from Molex) will be important in assessing the quality of the growth pipeline.

Market Cap (EUR) (M) 37,835

Prysmian should address these questions when it reports Q2 results on the 30th July. EV (EUR) (M) 41,909

Revenues and margins. Prysmian foresee €10bn in cumulative revenues through 2035, Performance YTD 1M 6M 12M

including €1.1bn annually from 2031.