EnergyWatch

NKT's Applications back on track after cutting Russia ties

The cable maker has almost fully secured its aluminum supply after having dissolved a Russian partnership earlier this year. NKT has avoided impairing assets but is still facing headwinds from soaring power prices and general inflation.

Photo: NKT / PR

Earlier this year, when NKT responded to Moscow’s war on Ukraine by cancelling its partnership with a Russian aluminum supplier, the gap created had a strong negative effect on Q2 operating earnings within the cable manufacturer’s Applications division, which reported earnings before interest, taxes, depreciations and amortization sliding from EUR 7.6m to EUR 7.2m between quarters.

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