Purchases on Prysmian, Battaini sees growth in 2026

(Il Sole 24 Ore Radiocor) - Purchases on the Prysmian share at Piazza Affari, while the FTSE MIB is on its highest level since 2000. Driving the rises are the words of CEO Massimo Battaini who, in an interview with Repubblica, does not rule out new acquisitions and predicts another year of growth. Battaini comments on the recent acquisition of Xtera, in partnership with Fincantieri, underlining how the transaction (worth around 60 million euros) allows Prysmian to fill a key technological gap in submarine cables, thanks to the optical repeaters that allow transmissions over long distances, making the group a "vertically integrated" operator in the sector. As for interest in further acquisitions in 2026, "We always study extraordinary operations, to be ready to seize any opportunities that may arise on the market," explains Battaini, "but for every operation there have to be two of us, and we want to be prepared because we are in the privileged position of being able to push for consolidation. According to Intermonte analysts, looking ahead, management's willingness to evaluate M&A in 2026 suggests a potential optional upside.

The CEO also reiterates in the interview the soundness of the group's competitive positioning and the benefits of the US tariffs introduced under the Trump administration, which penalise Asian competitors: Prysmian intends to exploit its local presence to offer customers a "better service" than its Eastern competitors. The effect of the tariffs, stresses Battaini, "will only be seen on Prysmian's accounts this year" and the company says it is confident "that it can gain new market share". Not only that: according to Battaini, Europe will also promote a trade policy aimed at favouring European companies, 'so as not to be hostage to Asian ones'. The volatility of the US dollar has had a negative impact on ebitda for the 2025 financial year of approximately 80 million euros, however the centrality of the US market is reaffirmed, confirming the project of a double listing on Wall Street, on which the company will decide together with the board of directors 'when and if there is an opportunity to realise it'.

According to Banca Akros, the CEO's statements confirm the positive momentum for the company, which is 'well positioned to benefit from medium to long-term macroeconomic trends such as electrification, energy transition and artificial intelligence'. Also according to Intermonte, Battaini's words 'reinforce Prysmian's industrial and strategic rationale'. In particular, the acquisition of Xtera 'appears consistent with the growth trajectory in high-complexity submarine cables, a market structurally expanding thanks to data centres, AI, and energy transition'. Verticalisation, for the sim, raises barriers to entry, improves pricing power and reduces execution risk on large turnkey projects. "Also 'positive' is the reference to US tariffs as a competitive factor. Overall, the experts note, 'the message is consistent with a vision of sustainable growth, supported by long-term megatrends and a technological positioning that is difficult to replicate, elements that we continue to believe are central to value creation in the medium to long term'.