Press Release

LONDON – 25 JANUARY – Vision, technological innovation and solid governance: these are the secrets behind the success of the , a global leader in the manufacture and installation of cables for energy and telecommunications. This was the conclusion that emerged from the ninth event in the Italian Imaginative Innovators (Triple I) series, organised by the Italian embassy in London. This event, the first of 2017, saw a conversation between Valerio Battista, the CEO of the Group, and Sarah Gordon, the business editor of the Financial Times, in front of an audience of investors and journalists.

The evening was opened by the ambassador, Pasquale Q. Terracciano, who reflected on the insights yielded by the Triple I meetings during 2016, featuring Italian business leaders such as Alberto Nagel (), Antonio D’Amato (Seda), Giulio Bonazzi (Aquafil), Lorenza Luti (Kartell), Nerio Alessandri (Technogym), Andrea Rasca (Mercato Metropolitano) and Federico Marchetti (Yoox Net- à-Porter).

The ambassador highlighted that the Italian production industry has much to commend it. In spite of the challenges it faces in terms of size, management and credit, it is going from strength to strength, with a growing share of the global market, enthusiasm for technological innovation, a desire to implement better governance processes, better managed succession in family business, and greater openness to financial markets.

In a stimulating conversation guided by Sarah Gordon, Valerio Battista presented the challenges faced by Prysmian, a global group with 91 production plants in 50 countries, 17 research and development centres and over 19,000 employees. He explained how it inherited Cavi in 2005, expanded its expansion following its flotation on the stock exchange in 2007, and the acquisition of the Dutch company Draka in 2011. It was the story of a group that has demonstrated its ability to position itself effectively in all regions by adopting a model that is virtually unique in Italy: a public company with a broad shareholder base capable of inspiring faith among investors, clients and stakeholders.

Given the typically cyclical nature of the sector, Battista highlighted the importance of expanding through consolidation and acquisitions, an approach which may still be on the programme, given the recent issue of a €500 million bond. He also pointed out the vital role of avant-garde technological innovation. Considering that the global demand for data transmission via internet and fibre doubles every year, it is crucially important to invest in research and development in order to increase capacity and coverage and to simplify connections.

Gordon and Battista also made interesting observations on possible future commercial and geopolitical scenarios at a global level. The private sector, at both a European and a global level, faces a number of uncertainties following the Brexit referendum in Europe, the election of President Trump in the United States, and the unpredictable positioning of China (which, however, still follows non-competitive commercial practices). These uncertainties call for industrial strategies aimed at serving customers through global productive positioning. This is all at the heart of Prysmian’s broad footprint in all the major regions and its international outlook with an Italian spirit.