DGAP-News: NKT Holding A/S
2015-02-27 / 07:56
---------------------------------------------------------------------
Nasdaq Copenhagen
Nikolaj
Plads 6
DK -
1007 Copenhagen K
27
February 2015
Announcement No. 2
NKT Annual Report 2014:
Operational EBITDA improved by 17%
Group Executive Director & CFO, Michael Hedegaard Lyng
says;
- 2014 was a good year for NKT. Performance exceeded our guidance and we
improved operational EBITDA by 17% on an organic growth of 1%. The initiatives
launched in 2014 in all our businesses are paying off; results of the DRIVE
programme in NKT Cables outperformed our expectations, the investments in
growing Nilfisk have just started to yield results and a strong cash flow
allows us to take further part in consolidating Nilfisk as the market leader.
We are on the right track, and backed by our clear strategic direction, we will
continue this path in 2015.
2014 financial highlights
- Operational
EBITDA increased by 17% to DKK 1,269m and operational EBITDA margin (std. metal
prices) was 9.6%, exceeding guidance of 9.0-9.5%
- Organic growth
was 1%, within the guided range of 0-3%, and revenue (std. metal prices)
amounted to DKK 13,180m. Revenue in market prices was DKK
15,863m
- Return of capital employed (RoCE) improved by
2.7%-points to 9.4%
- Cash flow from operating activities improved by DKK
1,038m to DKK 1,583m
- Net interest-bearing debt of DKK 1,035m, 0.9x
EBITDA, was the lowest level since 2007
- Proposed
dividend of DKK 4 per share, corresponding to a total of DKK 95.7m and 34% of
the profit for the year, which was DKK 280m
2015 outlook
In 2015,
NKT expects a consolidated organic growth of up to 3% and an improved
operational EBITDA margin in std. metal prices of up to 1%-point from 9.6%
realised in 2014. The expectations for the operational EBITDA are excluded
one-off costs of approx. DKK 120m related to the DRIVE programme in NKT Cables.
For further details on the 2015 outlook please refer to NKT's 2014 Annual
Report page 6.
Clear strategic direction set for
NKT
NKT
continues to believe that further value creation in all its businesses is best
achieved under NKT's active ownership. The strategic targets defining
the long-term ambitions are to achieve organic growth above the market and RoCE
of +15%. For further details please refer to NKT's 2014 Annual Report page
11.
Nilfisk: 6% organic growth and stable
operational EBITDA margin
Growth
was higher than the initially guided 2-3% and mainly came from the mature
markets in EMEA og the Americas, while the APAC region was characterised by
increased competition. Operational EBITDA margin was 11.7% against 11.9% in
2013, despite the negative impact from investments made in the sales and
service organisation throughout 2014.
NKT Cables: DRIVE impact of DKK 169m improved
earnings
NKT
Cables delivered negative organic growth of 5%, against the initial guidance of
-2% to -3%. Positive growth in Products was offset by the development in
Projects and APAC. Operational EBITDA margin (std. metal prices) improved to
8.0% exceeding the initial guidance of 7.1%. This increase was primarily due to
the effects of DRIVE, yielding savings of DKK 169m against DKK 100m initially
expected.
Photonics Group: 9% organic growth and EBITDA margin
increased by 4.9% points
Growth was achieved in all three segments, but
was lower than the initial guidance of 10-20%. EBITDA increased by DKK 15m to 21m influenced by
increased revenue and focus on cost efficiency.
Teleconference
NKT hosts a teleconference for investors and
analysts today at 10.00 CET, and it can be accessed at www.nkt.dk . The
presentation for the call will be available shortly. To attend, please dial in
from:
Denmark: +45 354 45 583
UK : +44 203 194 0544
US : +1 855 269 2604
Yours
sincerely,
NKT Holding A/S
Michael Hedegaard Lyng
Group
Executive Director & CFO
Investor
Relations: Lasse Snejbjerg, telephone +45 4348 3240
News Source: NASDAQ OMX
---------------------------------------------------------------------
2015-02-27 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: NKT Holding A/S
Denmark
ISIN: DK0010287663
End of News DGAP News-Service
---------------------------------------------------------------------
327613 2015-02-27