NKT Holding A/S 11 May 2010, announcement no. 12 With 1st quarter revenue of 3,062 mDKK and operational EBITDA of 235 mDKK, the NKT Group made a good start to 2010. Organic growth for the quarter was 5% and operational EBITDA margin increased by 3.1%-points to 9.4% Summary All four business units made a good start to 2010. NKT Cables reported positive development with organic growth in the 1st quarter of 4% and Nilfisk-Advance realized organic growth of 6%. Operational EBITDA for NKT in 1st quarter 2010 was 235 mDKK, against 147 mDKK for the corresponding period in 2009, an improvement of 88 mDKK or 60%. The improvement in operational EBITDA of 88 mDKK comprised 45 mDKK relating to NKT Cables, 67 mDKK relating to Nilfisk-Advance, 2 mDKK relating to Photonics Group and -21 mDKK relating to NKT Flexibles. Operational EBITDA margin for the last 12 months (LTM) was 10.1% at the end of 1st quarter 2010, equivalent to underlying earnings of 1,023 mDKK, and was an increase of 0.7%-points or 88 mDKK on the level at end-2009. Expectations for 2010 remain unchanged with anticipated organic growth of approx. 6-10% and operational EBITDA of approx. 1 bnDKK. NKT Cables realized revenue for 1st quarter 2010 of 1,036 mDKK measured at standard metal prices, corresponding to 4% organic growth. All segments except low voltage products, which chiefly sell to the building and construction industry, showed positive growth in 1st quarter 2010, and overall LTM EBITDA margin increased by 0.9%-points to 8.9%, corresponding to earnings for the quarter of 60 mDKK. Nilfisk-Advance realized revenue of 1,418 mDKK in 1st quarter 2010, corresponding to organic growth of 6%. All regions noted robust progress, resulting in record-high operational EBITDA in the quarter of 172 mDKK or 12.1%. LTM EBITDA increased by 1%-point to 10.2% from 9.2% at the end of 2009. NKT Flexibles experienced a decrease as expected in both revenue and income in 1st quarter 2010. Despite this, earnings expectations were fully realized and production levels were satisfactory. The company was also awarded two important projects in the quarter and signed a framework supply contract with Statoil. As anticipated, working capital increased by 387 mDKK nominally due to a combination of organic growth and a number of major projects at NKT Cables. Despite this, working capital averaged over 12 months as a percentage of revenue fell by 0.5%-points to 16.6%.