What are Mission Vision & Core Values of Prysmian Company?

The core of the Marketing Strategy of Prysmian is providing superior cable solutions. This involves a commitment to quality and innovation in their products. Prysmian Group aims to meet the evolving needs of its customers in the energy and telecom sectors.

Prysmian emphasizes the use of advanced technology in its cable solutions. This includes research and development to create cutting-edge products. Their investments in submarine cable technology are a prime example of this commitment.

Consistent execution is crucial for delivering on the Prysmian mission. This involves efficient manufacturing processes, reliable supply chains, and excellent customer service. Prysmian's operational excellence ensures they meet and exceed customer expectations.

The ultimate goal of Prysmian's mission is to achieve sustainable growth and profitability. This involves creating long-term value for shareholders while also considering environmental and social impacts. Prysmian is focused on building a resilient and profitable business.

Prysmian's mission is inherently customer-centric. They aim to provide solutions that meet the specific needs of their clients in the energy and telecom industries. This focus on customer satisfaction drives their product development and service offerings.

Prysmian's mission has a tangible impact on the world. Their cables enable access to sustainable energy and fast digital communication for millions. For instance, their submarine cable projects facilitate global connectivity, demonstrating the mission's practical application.

The Prysmian vision is inherently future-oriented. It emphasizes the critical role of energy and information in the development of communities worldwide. This forward-thinking approach aligns with global trends in digitalization and the energy transition.

A core element of the Prysmian vision is sustainability. The company's commitment to achieving Net Zero emissions by 2035, significantly ahead of its previous target of 2050, underscores this commitment. This ambitious goal reflects a proactive approach to reducing its environmental impact, particularly concerning Scope 3 emissions, which often represent the most significant portion of a company's carbon footprint. The company has invested €450 million in sustainable projects.

The vision has a broad scope, reflecting the global nature of Prysmian's operations and its commitment to serving communities worldwide. This global perspective is essential, given the increasing demand for sustainable energy and digital connectivity across the globe. The company operates in over 50 countries, showcasing its international reach.

The Prysmian vision balances realism with ambition. It acknowledges the current global demand for sustainable energy and digital connectivity, areas where Prysmian holds a leadership position. The company's strategic investments in research and development, totaling approximately €150 million annually, support its vision.

The vision statement implicitly drives innovation within Prysmian. By focusing on the effective, efficient, and sustainable supply of energy and information, the company is compelled to develop new technologies and solutions. This commitment to innovation is reflected in its portfolio of over 7,000 patents.

The Prysmian vision is closely aligned with key market trends. The global energy transition, the increasing demand for renewable energy sources, and the expansion of digital infrastructure all support the company's strategic goals. The company's revenue in 2023 was €15.4 billion, demonstrating its strong position in the market.

Prysmian's commitment to the energy transition is evident in its substantial investments in renewable energy infrastructure. This includes expanding production capabilities for high-voltage submarine cables, essential for offshore wind farms and other renewable energy projects. These investments are a direct response to the growing demand for sustainable energy solutions, aligning with Prysmian's vision of a greener future.

Prysmian's mission to provide cutting-edge cable solutions drives its focus on digital transformation. This includes developing advanced optical fibers and connectivity solutions that support the evolving needs of digital infrastructure. By investing in these technologies, Prysmian ensures it remains at the forefront of the digital revolution, delivering value to its customers and stakeholders.

The acquisition of Encore Wire in the United States is a strategic move influenced by Prysmian's vision and mission. This acquisition strengthens its position in North America and allows the company to capitalize on growth opportunities in digitalization and energy infrastructure. The deal is expected to contribute significantly to Prysmian's financial targets, including an adjusted EBITDA range of €2,950 million to €3,150 million by 2028.

Prysmian's commitment to sustainability is a core element of its vision and values. The company aims to reduce GHG emissions by 37% in Scope 1 and 2 and 54% in Scope 3 by 2024 compared to the 2019 baseline. These targets demonstrate Prysmian's dedication to environmental responsibility and its integration of sustainability into its long-term planning.

CEO Massimo Battaini has emphasized the solid market drivers behind Prysmian's business, positioning the company to take advantage of profitable and sustainable growth opportunities. The company's strategic initiatives, guided by its mission and vision, are designed to deliver strong financial results and create long-term value for its stakeholders.

Prysmian's core values, such as innovation, sustainability, and customer focus, are reflected in its strategic decisions. These values guide the company's actions, ensuring that it not only meets its financial goals but also contributes to a more sustainable and connected world. The integration of these values into its operations underscores Prysmian’s commitment to responsible business practices.

Prysmian's commitment to its mission and vision is evident in its initiatives, such as the development of the Draka Green Connect product line. This initiative directly reflects their dedication to providing sustainable solutions and fostering innovation within the industry.

Investments in expanding production capacity for renewable energy transmission cables are another example of Prysmian's vision in action. This strategic move aligns with their goal of enabling the sustainable supply of energy worldwide, contributing to a greener future.

Prysmian communicates its mission, vision, and core values to stakeholders through various channels, including annual reports and events like Capital Markets Day. The 'Sustainability and Innovation Days' event is another platform used to engage stakeholders and share progress on sustainability targets, fostering transparency and trust.

Prysmian has formal programs and systems to ensure alignment between stated values and actual business practices. The Sustainability Scorecard, which monitors 12 Impact KPIs aligned with the UN's sustainable development goals, is a key tool for tracking progress on sustainability targets. The Value4All program promotes employee share ownership, fostering a sense of shared purpose and alignment with company goals. Furthermore, the restructuring of their organization into four business segments (Transmission, Power Grid, Electrification, and Digital Solutions) reflects their strategic alignment with key market drivers.