Half Year 2023 Prysmian SpA Earnings Call Transcript
Hello. Thank you, and hello, good afternoon to everyone. Welcome to our first half 2023 integrated results. Let's start. First half 2023 highlights 2 main chapters. First of all, EUR 8,003 million sales with an adjusted EBITDA of EUR 878 million, a free cash flow of EUR 567 million. Organic growth 4.8%, declined compared to the first quarter, I have to admit, even if it's still quite strong. Adjusted EBITDA margin 11%. Net debt shrinked to EUR 2,065 million. In addition to these indicators, we added the indicators related to the greenhouse gas emission. We have been able to reduce almost 10% compared to the first half of 2022, our equivalent CO2 emissions, and we have 12.6% of materials that comes from recycle. Overall, a very good result with investment-grade rating assigned by Standard & Poor's for the global ratings. That has been an outstanding result for us.
Let's flip to the next page. The margins are expanding all over the businesses. Let's analyze more in detail. Projects. Projects rose 23.5% organically, with moving
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