Interim Report 1st quarter 2010

NKT Holding A/S11 May 2010, announcement no. 12With 1st quarter revenue of 3,062 mDKK and operational EBITDA of 235 mDKK, theNKT Group made a good start to 2010. Organic growth for the quarter was 5% andoperational EBITDA margin increased by 3.1%-points to 9.4% SummaryAll four business units made a good start to 2010. NKT Cables reported positivedevelopment with organic growth in the 1st quarter of 4% and Nilfisk-Advancerealized organic growth of 6%. Operational EBITDA for NKT in 1st quarter 2010 was 235 mDKK, against 147 mDKKfor the corresponding period in 2009, an improvement of 88 mDKK or 60%. The improvement in operational EBITDA of 88 mDKK comprised 45 mDKK relating toNKT Cables, 67 mDKK relating to Nilfisk-Advance, 2 mDKK relating to PhotonicsGroup and -21 mDKK relating to NKT Flexibles. Operational EBITDA margin for the last 12 months (LTM) was 10.1% at the end of1st quarter 2010, equivalent to underlying earnings of 1,023 mDKK, and was anincrease of 0.7%-points or 88 mDKK on the level at end-2009. Expectations for 2010 remain unchanged with anticipated organic growth ofapprox. 6-10% and operational EBITDA of approx. 1 bnDKK. NKT Cables realized revenue for 1st quarter 2010 of 1,036 mDKK measured atstandard metal prices, corresponding to 4% organic growth. All segments exceptlow voltage products, which chiefly sell to the building and constructionindustry, showed positive growth in 1st quarter 2010, and overall LTM EBITDAmargin increased by 0.9%-points to 8.9%, corresponding to earnings for thequarter of 60 mDKK. Nilfisk-Advance realized revenue of 1,418 mDKK in 1st quarter 2010,corresponding to organic growth of 6%. All regions noted robust progress,resulting in record-high operational EBITDA in the quarter of 172 mDKK or12.1%. LTM EBITDA increased by 1%-point to 10.2% from 9.2% at the end of 2009. NKT Flexibles experienced a decrease as expected in both revenue and income in1st quarter 2010. Despite this, earnings expectations were fully realized andproduction levels were satisfactory. The company was also awarded two importantprojects in the quarter and signed a framework supply contract with Statoil. As anticipated, working capital increased by 387 mDKK nominally due to acombination of organic growth and a number of major projects at NKT Cables.Despite this, working capital averaged over 12 months as a percentage ofrevenue fell by 0.5%-points to 16.6%.