NASDAQ OMX Copenhagen
Nikolaj Plads 6
DK-1007 Copenhagen K
27 February 2013
NKT’s earnings increased in 2012 by 18% (operational EBITDA: 1,039 mDKK) compared with 2011, while organic revenue fell by 2% to 15,253 mDKK.
Group profit after tax was as expected 1.6 bnDKK. This included 1.4 bnDKK from the sale of NKT Flexibles.
NKT’s strategic plan, Powered by NKT 2011-2015, contains three targets for the Group’s capital structure, all of which were met in 2012:
NKT’s CEO, Thomas Hofman-Bang, on 2012:
‘In 2012 we managed to secure increased earnings of 18% and to reach our adjusted targets, despite the fact that a number of the risks we outlined at the start of the year became a reality.’
‘NKT’s profit from the sale of NKT Flexibles was 2 bnDKK, and a satisfactory cash flow was also forthcoming from operations. This has helped to reduce debt, and it provides financial flexibility for further development of the Group’s three business units.’
NKT Cables generated improved productivity and earnings in the year’s second half. However, continued focus must be placed on productivity improvements and increased flexibility in production at the factory in Cologne before earnings reach a satisfactory level.'
Nilfisk-Advance had an excellent 2012. Although growth in revenue slowed, earnings recorded were the best ever, and the company improved sales in the difficult European markets.’
At the Annual General Meeting on 21 March 2013 the Board of Directors will propose a dividend of 8 DKK per share.
Expectations for 2013
Given flat market development for the Group’s main markets compared with 2012, revenue in standard metal prices and operational EBITDA for 2013 are expected to be on par with 2012.
NKT has updated its strategic plan, Powered by NKT 2011-2015. The strategic direction will be maintained, and focus on growth, improved earnings and creation of value will be unchanged, but the goals and the time horizon have been modified, cf. page 13 of the 2012 Annual Report.
The strategic direction is right, and now we have the capital structure to further develop the Group and strengthen our competitiveness. Realising a solid return on capital employed will remain our objective, but we will no longer give precise goals and specific deadlines for achieving them will be discontinued.’ says NKT’s CEO, Thomas Hofman-Bang.