* Q4 EBITDA 320 mln DKK vs 275 mln avg forecast
* Q4 revenue 4.00 bln, in line with expectations
* Scraps long term targets, cuts return on capital view
(Adds details, comments, adds share price)
COPENHAGEN, Feb 27 Danish industrial group NKT
Holding scrapped its long-term targets on Wednesday and
said earnings would not grow this year due to sluggish sales and
The cable manufacturer has been hurt by the downturn in
Europe and weak equipment sales to China, where the government
last year froze the construction of a high-speed railway.
The group, which also makes professional cleaning equipment,
said it would no longer provide revenue and earnings targets
for 2015, and lowered its target for return on capital employed.
"In the main markets in Europe there is not much hope for
growth," Chief Executive Thomas Hofman-Bang told Reuters after
its full-year result.
In the fourth quarter, operational earnings before interest,
tax, depreciation and amortisation (EBITDA) rose to 320 million
Danish crowns ($56.10 million) in the quarter, primarily driven
by cost cuts in its Nilfisk-Advance unit.
The fourth quarter earnings exceeded analysts' average
expectations for 275 million in a Reuters poll, sending its
shares up 5.6 percent at 0853 GMT after an initial small rise.
. The Copenhagen stock exchange's benchmark index
fell in contrast 0.2 percent.
"The fourth quarter surprises positively," said Alm Brand
analyst Jesper Christensen. "Guidance for 2013 is terribly weak
and much weaker than I had expected," Christensen said.
($1 = 5.7038 Danish crowns)
(Reporting by Mette Fraende; Editing by Louise Heavens)