With Group revenue for the first nine months of the year of 10.1 bnDKK (+27%),
operating income (EBIT) of 770 mDKK (+42%), and net income before tax of 683
mDKK (+35%), there has been very satisfactory development compared with the
same period in 2006. This development is in harmony with the plans made for the
year by NKT's companies, and there is a basis for an upward revision of
expected Group net income before tax to around 925-950 mDKK.
Group revenue for the 3rd quarter was 3,356 mDKK (+24% compared with last year)
and operating income (EBIT) was 248 mDKK (+23% compared with last year). An
EBITDA margin of 9.9% was realised in 3rd quarter 2007, as against 9.4% in the
same period last year. Net income before tax comprised 215 mDKK, as against 193
mDKK last year, an increase of 11%.
The Group's overall organic growth developed satisfactorily and amounted to 9%
in the 3rd quarter. This progress was due to continued high organic growth at
NKT Cables (13%), while growth at Nilfisk-Advance (5%) was influenced by SAP
implementation, which delayed product shipments in late September and thereby
reduced September revenue. After adjustment for this effect - which has been
neutralised in October and November - 3rd quarter organic growth at
Nilfisk-Advance was 7%. In addition, NKT Photonics Group again had a positive
quarter with organic growth of 61%, and the 51%-owned NKT Flexibles had a
strong third quarter with organic growth of 30%.
Expectations for 2007
The financial expectations for 2007 have been revised upwards regularly during
the year - most recently to a revenue of 13.3 bnDKK and net income before tax
of around 900 mDKK.
Based on realised 3rd quarter development the Group revenue has been revised
upward from 13.3 to around 13.4 bnDKK, and Group net income before tax has been
revised from 900 upward to around 925-950 mDKK.
