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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. 

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