2010

nkt cables realized solid growth in revenue following a weak 2009 which was influenced by the global economic recession. Revenue measured in standard metal prices increased to 5,547 mDKK (2009: 4,646 mDKK), corresponding to organic growth of 16%. This development was particularly strong in the 2nd half of the year when the commissioning of the new factory in Cologne made a serious contribution to growth in revenue. This growth derived partly from production of an important cable project at the new factory, and also from higher than expected growth in the other product segments.

Revenue measured in market prices was 8,520 mDKK (2009: 6,383 mDKK) influenced by increases in metal prices, which for themost part are passed on to the customer. Despite the organic growth achieved, earnings did not follow suit. EBITDA in 2010 was 329 mDKK compared with 373 mDKK in 2009, corresponding to an EBITDA margin of 5.9% (2009: 8.0%). The unsatisfactory earnings were solely attributable to the commissioning of the new factory in Cologne, and the resulting delay to a major project. All other product segments performed better than expected at the beginning of 2010.