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Continued progress in 3rd quarter 2007

21 Nov 2007 10:55 |
Inside Information
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With Group revenue for the first nine months of the year of 10.1 bnDKK (+27%),operating income (EBIT) of 770 mDKK (+42%), and net income before tax of 683mDKK (+35%), there has been very satisfactory development compared with thesame period in 2006. This development is in harmony with the plans made for theyear by NKT's companies, and there is a basis for an upward revision ofexpected Group net income before tax to around 925-950 mDKK. Group revenue for the 3rd quarter was 3,356 mDKK (+24% compared with last year)and operating income (EBIT) was 248 mDKK (+23% compared with last year). AnEBITDA margin of 9.9% was realised in 3rd quarter 2007, as against 9.4% in thesame period last year. Net income before tax comprised 215 mDKK, as against 193mDKK last year, an increase of 11%. The Group's overall organic growth developed satisfactorily and amounted to 9%in the 3rd quarter. This progress was due to continued high organic growth atNKT Cables (13%), while growth at Nilfisk-Advance (5%) was influenced by SAPimplementation, which delayed product shipments in late September and therebyreduced September revenue. After adjustment for this effect - which has beenneutralised in October and November - 3rd quarter organic growth atNilfisk-Advance was 7%. In addition, NKT Photonics Group again had a positivequarter with organic growth of 61%, and the 51%-owned NKT Flexibles had astrong third quarter with organic growth of 30%. Expectations for 2007The financial expectations for 2007 have been revised upwards regularly duringthe year - most recently to a revenue of 13.3 bnDKK and net income before taxof around 900 mDKK. Based on realised 3rd quarter development the Group revenue has been revisedupward from 13.3 to around 13.4 bnDKK, and Group net income before tax has beenrevised from 900 upward to around 925-950 mDKK.
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