MILAN, May 9 (Reuters) - Italy's Prysmian said

on Thursday its full-year core earnings would be at the upper

end of its forecasts, after posting a falling but

above-expectations result in the first quarter thanks to its

power grid and transmission businesses.

The world's largest cable maker said its adjusted earnings

before interest, tax, depreciation and amortisation (EBITDA)

amounted to 412 million euros ($443 million) in the

January-March period, topping a 388 million euro analyst

consensus forecast provided by the company.

The result was lower than the 427 million euros of the first

quarter of 2023 due to declining performance at its industrial

and construction and digital solutions segments, which were

weighed by North American market performance.

The group's margin on adjusted EBITDA, however, improved to

11.2% from 10.7% a year earlier, Prysmian said.

"The first quarter results highlight outstanding

profitability, driven by the strong performance of the power

grid and transmission segments," CEO Massimo Battaini said in a

statement, adding the Prysmian's order backlog stood at over 18

billion euros.

The company, which last month announced the $4.2 billion

acquisition of Encore Wire ( WIRE ) to expand its exposure to

its North American profit powerhouse, previously guided for

full-year 2024 adjusted EBITDA of 1.575 billion to 1.675 billion

euros and for cash generation of 675 million to 775 million

euros.

The Encore Wire ( WIRE ) purchase is set to be completed in the

second half of this year and will affect longer-term financial

targets that Prysmian provided in October as part of its

multi-year business plan.

($1 = 0.9309 euros)