Equity Story
Enabling Energy Transition. Strengthening Energy Resilience. Connecting Power Worldwide.
PFISTERER is an internationally active specialist in connection and insulation technology for electrical transmission across all voltage levels up to 1,100 kV.
We develop, manufacture, and distribute solutions for the critical interfaces in power grids – from generation to transmission and distribution.
As a manufacturer-independent provider, we ensure that our solutions are compatible with all standard cables and conductors. This positions us as a technology-driven, system-open partner for grid operators, OEMs, and EPCs worldwide.
Our solutions make a key contribution to the resilience of modern energy systems – through the secure integration of renewable energy, the supply of growing loads such as data centers, and the modernization of aging infrastructure.
The global energy industry is undergoing a profound transformation.
Three key drivers are shaping investments in grid infrastructure worldwide:
Decarbonization and energy independence (particularly in Europe)
The expansion of renewable energy and the reduction of geopolitical dependencies require high-performance, flexible power grids.Steadily increasing electricity demand (particularly in the USA)
The expansion of data centers and AI infrastructure is leading to rapidly rising load requirements.Renewal of aging grid infrastructure (global, especially in the USA)
A significant portion of existing grids has reached the end of its lifecycle and must be replaced or modernized.
PFISTERER is positioned at the critical interfaces of these developments.
Our solutions enable:
low-loss transmission of renewable energy over long distances,
stable supply for energy-intensive applications such as data centers,
secure modernization of existing grid infrastructure.
In particular, we see significant growth potential in high-voltage direct current (HVDC) transmission, as increasing energy demand and transmission distances require low-loss technologies.
As a manufacturer-independent provider, we are a preferred partner for international cable manufacturers – especially where high expertise in cable accessories is required.
For over 100 years, we have stood for technical excellence.
Our core competencies include:
high-precision metal and silicone processing,
in-house development and testing laboratories for optimal R&D and end-of-line testing,
the development of customized solutions,
patented connection technologies.
Our products are critical components for the stability of power grids.
In the context of increasing grid loads, volatile energy input, and growing complexity, reliability becomes even more important. This enables us to achieve:
long-term customer relationships,
stable margin structures,
low substitution risk,
a strong competitive position.
Failures at these interfaces lead to significant consequential costs – making quality, testing depth, and technical expertise essential.
We structure our business into five strategic segments:
Overhead Lines (OHL)
In the OHL product segment, PFISTERER offers insulation and connection solutions for overhead line systems.
The insulators and fittings ensure the reliable mechanical fixation of high-voltage conductors to earthed masts as well as their electrical insulation.
In addition, the products provide protection of conductors against mechanical stress, particularly vibrations.
High Voltage Cable Accessories (HVA)
The HVA product segment comprises cable accessories for high-voltage applications, including cable terminations, joints, as well as connections for transformers and switchgear.
The solutions cover voltage levels from high to extra-high voltage (up to 550 kV) and are type- and routine-tested in accordance with international standards.
Medium Voltage Cable Accessories (MVA)
The MVA segment comprises cable accessories and connection solutions for medium-voltage applications.
In addition to the main MV-CONNEX product line (12 kV to 52 kV), it includes systems for connecting transformers and cables as well as complementary system solutions and accessories.
Components (COM)
In the COM product segment, PFISTERER offers screw connection solutions for conductors as well as branching and connection systems for low-voltage cables.
The portfolio further includes products for electrical connection technology in the low-voltage range.
High Voltage Direct Current (HVD)
The HVD product segment comprises cable accessories for high-voltage direct current (HVDC) transmission, including joints, terminations, as well as connections for transformers and switchgear.
The solutions cover voltage levels up to 525 kV and are type- and routine-tested in accordance with international standards.
With the full acquisition of Power CSL, we have also significantly expanded our expertise in subsea and offshore cable applications.
(Key Figures 2025 in comparison to previous year)
We are growing profitably – driven by structural demand and long-term investment cycles in the energy sector.
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Order intake in EUR million
29.6%
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Order backlog in EUR million
42.4%
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Revenue in EUR million
17.4%
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Revenue by segment
in EUR million
-
Revenue by region
in EUR million
The significantly increased order backlog provides visibility for the coming periods.
At the same time, we ensure sustainable profitability:
-
adj. EBITDA-Marge as %
0.9% points
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Gross margin as %
1.0% points
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Net income in EUR million
53.2%
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Earnings per share in EUR
0.83 EUR million
Our above-industry-average R&D ratio of 5.7% underlines our technological leadership.
Our positioning at mission-critical grid interfaces enables:
stable pricing structures,
high capacity utilization,
attractive margins.
We have a strong financial foundation and invest selectively in expanding our capacities and technologies:
-
Net cash
in EUR million82.3 EUR million
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Adj. Operating Cashflow in EUR million
36.4%
-
Net working capital as %
3.6% points
This financial strength enables us to participate overproportionately in global investments in energy infrastructure.
Against the backdrop of high market dynamics, we are investing specifically in PFISTERER’s growth. Growth will primarily be organic.
We have adopted an investment plan totaling approximately €270 million in the medium term. Investments will be phased and include:
expansion of production capacities at existing sites,
establishment of in-house laboratories for R&D and electrical end-of-line testing, particularly in HVDC technology,
continuous development and optimization of our product portfolio, based on our core competencies and aligned with dynamic market requirements.
Our strategy aims to further position PFISTERER as a key enabler of resilient energy infrastructure worldwide.
Our solutions make a direct contribution to the sustainable transformation of energy infrastructure.
We enable:
integration of renewable energy,
reduction of transmission losses,
stabilization of aging grids,
reliable supply for mission-critical applications.
We are therefore not just an industrial company – we are an enabler of the energy transition and security of supply.
Enabler of the global energy transition
We enable the integration of renewable energy, supply growing loads (e.g. data centers), and modernize aging grids.
Structural growth driven by global investment activity
Driven by decarbonization, energy independence, grid renewal, and digitalization.
Positioning at mission-critical interfaces of energy infrastructure
Our products operate at the most technically demanding and critical interfaces of modern power grids.
Mission-critical products with low substitutability
High technical relevance combined with a low share of total project cost.
Technology leadership across all voltage levels up to 1,100 kV
Leading expertise in connection and insulation solutions – from medium to ultra-high voltage, with over 100 years of experience.
Profitable growth and strong cash generation
In addition to strong internal financing capabilities, the IPO provides an additional source of future growth financing.
Attractive and predictable dividend policy
We aim to distribute approximately 30% of consolidated net income – subject to available distributable profits and liquidity – offering investors attractive participation in the company’s success.