Q3 2019 Prysmian SpA Interim Management Statement Call Transcript
Ladies and gentlemen, thank you for standing by, and welcome to the 9 months 2019 financial results call. (Operator Instructions) I must advise you, the call is recorded today, Tuesday, the 12th of November 2019.
I would now like to hand the call over to Valerio Battista, CEO. Please go ahead.
Thank you very much, and good afternoon to everyone. Welcome to the Conference Call for the 9 Months 2019 Financial Results of Prysmian Group. Okay. Let's start with the financial highlights, as usual. Organic sales has been growing at 0.3%, mostly guided by North America, with outstanding performance of plus 3.3%, a solid trend in E&I, driven mostly by power distribution. The growth in telecom has closed in the first 9 months at 3.8%, thanks mostly to the Optical cable trend, but to be noted that in the first half, it was 7.8%. Consolidated quarter has seen a slowdown. Adjusted EBITDA closed at EUR 733 million, 8.9% of sales compared to the EUR 651 million in the first 9 months, 2018. With
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