Prysmian reports lower first half telecom cable sales

Italian cable maker Prysmian reported telecom cable and system sales down 16.2 percent to EUR 627 million in the first half, compared to EUR 746 million in the first half of 2012, reflecting a steep decline in sales in North and South America following the end of year-earlier incentives in the US and Brazil, which had driven demand for fibre cables. Adjusted EBITDA in the telecom segment declined by 27.8 percent to EUR 57 million from EUR 79 million.

Prysmian writes that the timing of any renewal or effective activations of these incentives in the future is still uncertain. The company saw stable demand for optical cable in Europe, with several major projects started, for example with BT in the UK and Eastern Europe.

Demand is growing in China for FttH solutions and sales performed well in Australia thanks to the National Broadband Network project, but the installation phase of the project is still experiencing delays.

Prysmian expects its profitability in telecom cables to improve in the second half.

2013/08/09 10:59:26 Source：(Telepaper)

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