This will help it increase its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) to around 2 billion euros ($2.1 billion) in 2027, from 1.49 billion euros last year, Prysmian said in a statement.
Milan-listed shares in the company were up 2.6% by 0730 GMT, among the best performers within Italy's blue chip basket (.FTMIB).
"Prysmian is uniquely placed to benefit from the opportunities presented by the structural changes arising from the convergence of the energy transition and digital transformation," Chief Operating Officer Massimo Battaini said in a statement.
Annual cash flow is seen growing to between 0.9 billion and 1 billion euros in 2027 from 559 million euros last year.
"Targets to 2027 are ambitious and above our estimates," Equita analyst Luigi De Bellis said in a note.
Persons:
Battaini, Battista, Prysmian, Massimo Battaini, Valerio Battista, Luigi De Bellis, Giulio Piovaccari, Gianluca Semeraro, Sonali Paul, Michael Perry
Organizations:
Company, Cable, Thomson
Locations:
MILAN, Netherlands, Milan