Key Developments: NKT Holding A/S (NKT.CO)

NKT.CO on Copenhagen Stock Exchange

31 Oct 2014
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Latest Key Developments (Source: Significant Developments)

NKT Holding confirms binding order for NKT Cables for Gemini project
Thursday, 15 May 2014 07:53am EDT 

NKT Holding A/S:Announces binding order for an offshore wind farm project, Gemini.The order is for delivery of more than 200 kilometers of 220 kV high voltage submarine cables for the project comprising the Buitengaats and ZeeEnergie wind farms.The cables are to be delivered ready for installation from early 2015.Contract value about 1,200 million Danish crowns (about 165 million euros) in standard metal prices for NKT Cables.Says the financial impact of the project is included in the previously announced expectations for FY 2014.The Gemini project is developed by Typhoon Offshore B.V. and owned by a consortium of investor.  Full Article

NKT keeps FY 2014 guidance unchanged-Ritzau
Wednesday, 14 May 2014 02:05am EDT 

NKT Holding A/S:Maintains FY 2014 financial guidance-Ritzau.Still expects organic growth of 0-3 percent and an operational EBITDA margin of 9-9.5 percent.  Full Article

European Commission fines NKT in cartel case
Wednesday, 2 Apr 2014 07:32am EDT 

NKT Holding A/S:Says the European Commission has concluded its investigation concerning alleged price-fixing activities within the power cables industry and decided to fine NKT with 3.9 million euros.Disagrees with the decision and prepares an appeal.The case involves 26 cable producers, including NKT Cables and its parent company NKT Holding.Says the fine will be included as part of FY 2014, and as a result, NKT expects that the profit for the year will be reduced by 29 million Danish crowns.  Full Article

NKT Holding A/S divests its wooden floor sanding equipment business
Friday, 28 Feb 2014 02:03am EST 

NKT Holding A/S:Says it has decided to divest its activities related to its wooden floor sanding equipment business based in Springdale, Arkansas, US.Says it has entered into an agreement to sell the Sanders Business for a total consideration of $22.35 mln (about 122 mln Danish crowns) to Amano Pioneer Eclipse Corporation.Says the divestment is structured as a sale of assets of a division of Nilfisk-Advance Inc.Says the transaction is subject to customary closing conditions and it is expected to close on March 31.  Full Article

NKT Holding issues financial guidance for fiscal 2014
Friday, 28 Feb 2014 01:59am EST 

NKT Holding A/S:Expects FY 2014 consolidated organic growth of around 0-3 percent.Estimates FY 2014 operational EBITDA margin in std. metal prices to be of 9-9.5 percent compared to 8.4 percent in std. metal prices in 2013.  Full Article

NKT Holding proposes FY 2013 dividend of DKK 3.5 per share
Friday, 28 Feb 2014 01:59am EST 

NKT Holding A/S:Propose a dividend of 3.5 Danish crowns per share to be paid for FY 2013.Paid dividend of 8 Danish crowns per share for FY 2012.  Full Article

NKT says NKT Cables to be involved in gemini project
Monday, 3 Feb 2014 06:43am EST 

NKT Holding A/S:Says NKT Cables is involved in an offshore wind farm project named Gemini developed by Typhoon Offshore B.V. and owned by a consortium of investors.Says the consortium has confirmed that they have received the financing commitments required for the start-up of the project.Says as a consequence, NKT Cables and Typhoon Offshore B.V. have entered into a Preparatory Works Agreement, the first phase towards a final order that is expected to be signed within the next months.Says the agreement allows NKT Cables to commence the production of the cable in February and ensures payment for realized costs.Says for NKT Cables, the final order will have a contract value of about 1.2 billion Danish crowns (about 165 million euros) measured in std. metal prices.  Full Article

NKT Holding A/S Maintains FY 2013 EBITDA Guidance and Specifies FY 2013 Organic Growth in Revenue Outlook
Wednesday, 20 Nov 2013 02:00am EST 

NKT Holding A/S announced that consistent with previous forecasts, the Company's fiscal year 2013 operational EBITDA is expected to be on par with 2012. Based on revenue for the year’s first nine months, organic growth for the fiscal year 2013 is now specified and is expected to be around 2-4%. In the fiscal year 2012 the Company reported EBITDA of DKK 1,009.00 million. According to I/B/E/S Estimates analysts on average are expecting NKT Holding to report EBITDA of DKK 1,082.67 million for the fiscal year 2013.  Full Article

NKT Holding A/S' CEO Thomas Hofman-Bang to Step Down; Company Maintains FY 2013 Financial Guidance-Ritzau
Wednesday, 21 Aug 2013 03:49am EDT 

Ritzau reported that NKT Holding A/S announced a new management structure. The Executive Management Board is dismantled and the heads of three existing business units NKT Cables, Nilfisk-Advance and Photonics will be reporting directly to the Board of Directors. This structure means that Chief Executive Officer of the Company Thomas Hofman-Bang will step down as of the end of August 2013. The Company also announced that it has maintained its expectations for fiscal year 2013, reported in the financial statements for fiscal year 2012, of an operating profit (EBITDA) for the fiscal year 2013 at the level of fiscal year 2012 when the Company earned DKK 1,039 million. The Company also still expects fiscal year 2013 revenue measured in standard metal prices as the level of fiscal year 2012. According to I/B/E/S estimates, analysts on average are expecting the Company to report fiscal year 2013 EBITDA of DKK 1,039.64 million.  Full Article

NKT Holding A/S Completes Acquisition of Ericsson's Power Cable Business
Monday, 1 Jul 2013 08:06am EDT 

NKT Holding A/S announced that the Company has completed the acquisition of Ericsson's power cable business. The transaction has been approved by relevant regulatory stakeholders.  Full Article

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