NKT Cables projects revenue in market prices in 2017 of EUR 1.4 billion and operational EBITDA of around EUR 140 million, according to an update of the cable manufacturer's guidance after the takeover of ABB HV Cables.
The company previously projected an operational EBITDA margin of around 9.5 percent, or approximately EUR 70 million, but this has now gone up as a result of the acquisition. However, the underlying premise for organic growth is 0-5 percent for the rest of NKT Cables.
More from EnergyWatch
Ahead of Thursday’s long awaited meeting between EU’s energy ministers, the EU Commission still has yet to rubber-stamp any proposed solutions to the energy crisis. According to a commissioner, preparations are still underway for the meeting – and gas prices are in focus, according to documents leaked Wednesday.