Prysmian Group is a publicly owned company headquartered in Italy. Founded in 1872, the company operates with an estimated 10,660 employees and reported $22.2B in revenue as of 2025. Functioning as a manufacturer, Prysmian Group specializes in electric power transmission and telecommunications cables and systems.
Prysmian Group has experienced a period of significant activity, including an analyst upgrade and major contract awards. On June 24, 2026, Jefferies raised its price target on Prysmian to €176, citing increasing demand for optical fiber infrastructure tied to AI data centers. Earlier the same day, Prysmian received notice to proceed for the €460 million Elmed submarine power interconnector between Italy and Tunisia, issued by Terna and STEG, moving the cable contract into its project backlog. This follows an agreement on June 23 for Prysmian to increase its stake in Oman Cables Industry to approximately 51%. Oman Cables Industry reports a turnover of $793 million and employs over 800 people. Also on June 23, Prysmian secured a framework agreement valued at approximately €910 million ($1.03 billion) with Greek electricity grid operator IPTO to develop electrical interconnections for the Dodecanese and North Aegean islands, supporting the national grid's reliability and efficiency.
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