Interim Report 3rd Quarter 2010

NKT Holding A/S 16 November 2010Announcement No. 24The Group performed well in 3rd quarter 2010,developments at the new Cologne production facilityhelping to ensure solid organic growth of 17%. Earningsfor most NKT business segments were also satisfactory,but overall the Group was influenced by expected highcosts related to running in the Cologne plant. OperationalEBITDA for the first nine months of 2010 was 792 mDKKSummaryNKT experienced a satisfactory 3rd quarterwhich lifted revenue for the first nine monthsto 10,422 mDKK, corresponding to organicgrowth of 9% relative to the same period lastyear. In 3rd quarter 2010 NKT Cables morethan doubled its growth in the segment forhigh voltage cables and submarine cablescompared with 3rd quarter 2009. For Nilfisk-Advance, nominal revenue increased by 10%in 3rd quarter 2010 but the effect of exchangerates reduced organic growth to 5%.NKT's operational EBITDA comprised 275mDKK in 3rd quarter 2010, an increase of5% (3rd quarter 2009: 263 mDKK).Operational EBITDA for the first ninemonths of 2010 was 792 mDKK, an increaseof 88 mDKK or 13% on the same period in2009. EBITDA margin on a rolling 12-monthbasis (LTM) was 9.5% at 30 September 2010,down slightly from 9.8% at 30 June 2010.Working capital increased in the 3rdquarter and comprised 3,173 mDKK at 30September 2010, corresponding to 18.5%(LTM) (30 June 2010: 17.4%).Full-year expectations for revenue andoperational EBITDA remain consistent withinitial announcements, but basis exists for amore precise prediction of organic growth,which is currently around 10%. OperationalEBITDA is unchanged at around 1 bnDKK.NKT Cables realized organic growth in 3rdquarter 2010 of 25% (YTD 2010: 10%)compared with 3rd quarter 2009. EBITDAfor 3rd quarter 2010 was 142 mDKK (3rdquarter 2009: 118 mDKK), correspondingto an EBITDA margin of 9.3% in standardmetal prices, against 10% for the sameperiod in 2009.Nilfisk-Advance realized organic growth in3rd quarter 2010 of 5% (YTD 2010: 7%)compared with 3rd quarter 2009. Organicgrowth by region was: EMEA 6%, theAmericas 5% and Asia/Pacific 1%. Grossprofit was maintained in 3rd quarter 2010despite rising raw material prices.Operational EBITDA was 129 mDKK in 3rdquarter 2010 (3rd quarter 2009: 121 mDKK),corresponding to an EBITDA margin of 9.4%for 3rd quarter 2010 against 9.7% for thesame period in 2009.NKT Flexibles realized 3rd quarter EBITDAof 49 mDKK (YTD 2010: 142 mDKK).Photonics Group reduced its EBITDA loss in3rd quarter 2010 by 7 mDKK to -2 mDKK(YTD 2010: -13 mDKK).