Danish industrial-cable manufacturer NKT A/S raised its 2026 profit forecast on Tuesday after reporting stronger-than-anticipated second-quarter results.
The company said it now expects adjusted earnings before interest and taxes (EBIT) of at least 1.8 billion Danish kroner ($260 million) for 2026, up from its prior guidance of 1.5 billion kroner. NKT attributed the upgrade to robust demand in its energy-cable segment, which serves offshore wind and grid projects.
Second-quarter adjusted EBIT rose 12% year-over-year to 480 million kroner, beating market expectations of 450 million kroner. Revenue increased 8% to 3.2 billion kroner, driven by higher volumes in Europe and North America.
Chief Executive Officer Alexander Kara said the improved outlook reflects "solid execution" across the group’s core markets, particularly in renewable energy infrastructure. NKT also reaffirmed its 2024 guidance, targeting EBIT of 1.1 billion to 1.3 billion kroner.
Shares in NKT were up 3.5% in Copenhagen trading following the announcement, outperforming the broader market.
