NKT upgrades projections on top of acquisition

Danish cable manufacturer NKT raises its expectations for its operational margin after the acquisition of ABB's high voltage cable division and accompanying cable-laying vessel.

Photo: NKT

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.

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