Italian cable making giant Prysmian has said it is planning to drive up profits a third in the next five years off the back of the energy transition and digital revolution.

Prysmian told investors on Thursday that it is targeting €2bn ($2.1bn) in profits by 2027, from €1.5bn last year.

It plans to invest €2.7bn up until 2027, a 70% jump from the last five years.