Company release 18 - 2007
The Nordic Stock Exchange Copenhagen
23. August 2007
Solid progress in 2nd quarter 2007
With continued growth in revenue and earnings in the 2nd quarter of the year,
development was very positive for the whole 1st half of 2007. In relation to
our expectations for Group earnings before tax, which after 1st quarter 2007
were revised upward by 50 mDKK to around 850-900 mDKK, a basis now exists for a
more precise prediction of around 900 mDKK.
Group revenue for the 2nd quarter was 3,612 mDKK (+27% compared with last year)
and operating income (EBIT) was 331 mDKK (+53% compared with last year). Profit
margin continues to rise, EBITDA of 11.0% being achieved in 2nd quarter 2007,
as against 9.3% for the same period last year. Pre-tax earnings were 308 mDKK,
as against 204 mDKK last year, a rise of 51%. The above comparative figures for
2nd quarter 2006 have been adjusted for non-recurring items (principally income
from property sales) of 108 mDKK.
NKT's overall organic growth has been very satisfactory and amounted to 14% for
the 2nd quarter. This was due to continuing high organic growth levels in both
NKT Cables (20%) and Nilfisk-Advance (8%). In addition, NKT Photonics Group
experienced a good quarter with 41% organic growth, and our 51%-owned company
NKT Flexibles had a strong second period with organic growth of 32%.
Forecast 2007
Expectations for 2007 were revised upwards in the 1st quarter report as a
result of the positive development in all NKT's areas of business. Revenue was
revised upward from around 12.7 bnDKK to around 13.2 bnDKK, and Group earnings
before tax were revised upward to around 850-900 mDKK, as against 800-850 mDKK
expected previously.
With the realised developments in 2nd quarter 2007, we now have the basis for
making the following adjustments to our expectations: Group revenue is revised
upward to around 13.3 bnDKK, and a more precise prediction of Group earnings
before tax is around 900 mDKK.
The interim report for 2nd quarter 2007 can be downloaded from www.nkt.dk
Today at 3 p.m. a live webcast briefing and conference call concerning the
interim report and the NKT 2008-2012 strategy plan, takes place at FUHU
Conference Centre, Fiolstræde 44 in Copenhagen.
Please register for this meeting at telephone +45 4348 3204 or e-mail
annie.breiner@nkt.dk
This release is published in Danish and English. In the event of any questions
of interpretation the Danish text shall prevail.
Any questions should be directed to
Michael Hedegaard Lyng, CFO, telefon +45 4348 3203
Yours sincerely,
NKT Holding A/S,
Communications department
