Germany: nkt cables Releases Half-Year Report 2011

nkt cables has announced half-year 2011 results . EBITDA expectations in NKT Holding for 2011 is downgraded to approx. 1.0-1.1 bnDKK from earlier approx. 1.2 bnDKK due to the fact that 2nd quarter earnings in nkt cables were not satisfactory.

The adjustment primarily relates to the newly build submarine and high voltage cable factory in Cologne where commissioning has proved more complex than first anticipated. The rest of nkt cables’ business segments, as well as the companies Nilfisk-Advance, NKT Flexibles and Photonics Group, are all developing satisfactory as expected.

With a revenue of 4,016 bnDKK for the 2nd quarter (1st half 2011: 7,790 bnDKK) the expectations for growth remain unchanged of around 5% for 2011. Order backlog is developing positively and NKT Flexibles received the largest order ever of up to 9.7 bnDKK in May 2011.

[mappress]

Source: nkt cables, August 23, 2011;