Q1 2019 Prysmian SpA Interim Management Statement Call Transcript
Good afternoon to everyone. Valerio Battista speaking. We are here with the management team of Prysmian Group, and welcome to our Q1 2019 conference call.
First page, the financial highlights. Organic growth sales went reasonably well, 1.9%, mostly thanks to a very strong performance of telecom with almost 10% of organic growth, and a solid trend in E&I. In particular, Power Distribution went up almost 15.7%. North America plus 5 regionally -- North America, plus 5.4% and LatAm, plus 6%. So a quite good quarter.
Adjusted EBITDA closed at EUR 231 million, 8.3% on sales comparable with the EUR 198 million in the first quarter '18, 7.2% of sales.
Projects. Not very well, unfortunately, as foreseen, because of the low order intake in the 2018 -- during the 2018.
Energy. Energy went well in E&I, PD and T&I regionally in North America. Industrial & Network Components almost stable.
Telecom. Very strong volume growth in optical cable business. With a capacity increase, we realized
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