Nkt A/S

NKT reaffirmed its Charging Forward strategic direction and medium-term financial ambitions at its Investor Day 2026 in Karlskrona, Sweden, while presenting four capital allocation priorities to guide long-term value creation. The company said its EUR 2bn investment programme remains central to the strategy, and that its expansion in Karlskrona will make the site the world's largest offshore power cable factory, with commercial operation now expected to commence in Q2 2027, slightly ahead of the original plan. Under the capital allocation framework, NKT will maintain a robust balance sheet with financial leverage, measured as net interest-bearing debt to operational EBITDA, below 0x, allocate capital to value-enhancing organic growth initiatives and strategically aligned, value-accretive acquisitions, pay dividends with a minimum annual distribution of 20% of adjusted net profit and an ambition to keep a stable dividend per share, and return excess cash to shareholders through share buybacks or extraordinary dividends when appropriate. CEO Claes Westerlind said the fundamentals supporting the electrification of societies remain strong and that rising cash generation provides a clear framework for balancing growth investments, financial strength and shareholder distribution. NKT said the medium-term financial ambitions communicated in Company Announcement No. 25 of 19 November 2025 and the financial outlook for 2026 communicated in Company Announcement No. 11 of 13 August 2026 both remain unchanged.

NKT has launched a fully qualified 525 kV HVDC extruded XLPE subsea power cable system capable of continuous operation at a conductor temperature of up to 90 °C. The qualification gives transmission operators greater flexibility in designing and operating HVDC cable systems, with the higher temperature capability supporting increased transmission capacity, reduced material consumption, and optimised system efficiency. The advancement is based on an upgraded insulation system, with redesigned inner and outer semiconductive layers using a new material developed and qualified in a joint project with material partner Borouge International, formerly Borealis. NKT's new 90 °C technology portfolio includes power cables with voltage levels of up to 525 kV HVDC for both on- and offshore installation as well as power cable accessories. NKT is headquartered in Denmark and realised revenue of EUR 3.6 billion in 2025.

NKT raised its full-year 2026 operational EBITDA guidance to EUR400-430 million from EUR360-410 million, citing solid execution and confidence in the remainder of the year. The company reported Q2 2026 revenue of EUR657 million, down from EUR723 million a year earlier, while operational EBITDA was stable at EUR104 million and the operational EBITDA margin improved to 15.7% from 14.5%. The transmission business achieved a record-high operational EBITDA margin of 20.2%, and the Champlain Hudson Power Express project reached commercial operation. NKT narrowed its 2026 revenue outlook to EUR2.65-2.75 billion from EUR2.63-2.78 billion, and its transmission order backlog stood at EUR13 billion at the end of Q2, slightly down from EUR13.5 billion at the end of Q1.