Nkt A/s · OMXCOP:NKT
Nkt A/s — Q1 2026 Earnings Presentation
20 slides from Nkt A/s's earnings presentation, May 13, 2026
Slide 1: Interim Report Q1 2026
May 2026 Interim Report Q1 2026 Webcast Presentation
Slide 2: Today's presenting team
Today’s presenting team Claes Westerlind Michael Yong President & CEO CFO NKT A/S | Q1 2026 | Webcast | May 2026 | 2
Slide 3: Forward looking statements
Forward looking statements This presentation and related comments contain forward- looking statements. Such statements are subject to many uncertainties and risks, as various factors of which several are beyond NKT’s control, may cause that the actual development and results differ materially from t
Slide 4: Key messages Q1 2026
Key messages Q1 2026 Solid start to the year: record first quarter result and record order backlog Historically strong Organic growth* of -4% Capacity expansion New business line commercial quarter and EBITDA of EUR 97m projects progressed as structure became leading to a record-high in Q1 2026 plan
Slide 5: Agenda
Agenda 06 Business highlights 13 Financial highlights 19 Questions & Answers NKT A/S | Q1 2026 | Webcast | May 2026 | 5
Slide 6: Financial performance in Q1 2026
Financial performance in Q1 2026 Organic revenue* growth of -4%, driven by specific project ramp-down in Transmission, as expected Key developments in Q1 2026 Key financial highlights (EURm) Revenue* ▪ Revenue at market prices of EUR 864m in Q1 2026 compared to -4% EUR 837m in Q1 2025. -20 ▪ Transmi
Slide 7: Transmission – Q1 2026
NKT Transmission – Q1 2026 Grid Solutions Transmission Distribution & Accessories High activity level and satisfactory execution Q1 2026 financial highlights Customer 331m -8% 50m offerings ▪ Large high-voltage off-/onshore power cable turnkey systems Revenue*, EUR Organic growth* Oper. EBITDA, EUR
Slide 8: Transmission market and order backlog
NKT Transmission market and order backlog Grid Solutions Transmission Distribution & Accessories Very high level of market activity in Q1 2026, with historically strong Transmission order backlog (EURbn) order intake for NKT in a quarter 2.5 2.5 3.5 >3.5 13.5 10.8 10.6 10.2 ▪ NKT estimates that the
Slide 9: Grid Solutions & Accessories – Q1 2026
NKT Grid Solutions & Accessories – Q1 2026 Grid Solutions Transmission Distribution & Accessories Growth in revenue* and increased profitability Q1 2026 financial highlights Customer 113m 2% 19m offerings ▪ High-voltage AC onshore power cable projects ▪ Power cable services ▪ High- and medium-voltag
Slide 10: Distribution – Q1 2026
NKT Distribution – Q1 2026 Grid Solutions Transmission Distribution & Accessories Organic growth* driven by power distribution grid segment Q1 2026 financial highlights Customer 212m 3% 22m offerings ▪ Medium-voltage power cables for distribution grid ▪ Low-voltage power cables and building wires ▪
Slide 11: Update on major capacity investment projects
Update on major capacity investment projects Karlskrona NKT Eleonora Harbour Asnaes Esposende (MV expansion) (MV expansion) NKT A/S | Q1 2026 | Webcast | May 2026 | 11
Slide 12: Agenda
Agenda 06 Business highlights 13 Financial highlights 19 Questions & Answers NKT A/S | Q1 2026 | Webcast | May 2026 | 12
Slide 13: Income statement: Increased operational EBITDA and margin
Income statement: Increased operational EBITDA and margin Income statement highlights Q1 FY Key developments in Q1 2026 EURm 2026 2025 2025 ▪ Revenue increased driven by metal prices. Revenue 864 837 3,565 ▪ Negative organic growth* driven by specific project ramp-down Revenue (Standard metal prices
Slide 14: Cash flow: Negative free cash flow due to investments and working capital
Cash flow: Negative free cash flow due to investments and working capital Cash flow statement highlights Q1 FY Key developments in Q1 2026 EURm 2026 2025 2025 ▪ Cash flow from operating activities of EUR 54m, up from Cash flow from operating activities 54 -141 499 EUR -141m in Q1 2025, mainly driven
Slide 15: Balance sheet: Stable working capital and increased capital employed
Balance sheet: Stable working capital and increased capital employed Balance sheet highlights Q1 FY Key developments in Q1 2026 EURm 2026 2025 2025 ▪ Working capital amounted to EUR -1,534m at end-Q4 2025 Working capital -1,524 -1,184 -1,534 compared to EUR -1,524m at end Q1 2026, mainly due to phas
Slide 16: Financial outlook for 2026
Financial outlook for 2026 The financial outlook is based on several assumptions, including: ▪ Satisfactory execution of high-voltage investments and projects to deliver on expected profitability margins ▪ Satisfactory operational execution across business lines Operational ▪ Stable market condition
Slide 17: Key messages Q1 2026
Key messages Q1 2026 Solid start to the year: record first quarter result and record order backlog Historically strong Organic growth* of -4% Capacity expansion New business line commercial quarter and EBITDA of EUR 97m projects progressed as structure became leading to a record-high in Q1 2026 plan
Slide 18: NKT Investor Day 2026
Invitation NKT Investor Day 2026 NKT Investor Day 29 September 2026, in Karlskrona, Sweden. NKT will present the next steps of the Charging Forward strategy as well as additional insights to the new business line structure effective 1 January 2026. The day will also include a visit to the production
Slide 19: Questions & Answers
Questions & Answers
Slide 20: Financial calendar 2026
Financial calendar 2026 2026 events 14 Interim Report, H1 2026 Aug For full list of Investor Relations 29 NKT Investor Day 2026, Karlskrona Sep events, please visit investors.nkt.com 19 Interim Report, Q1-Q3 2026 Nov NKT A/S | Q1 2026 | Webcast | May 2026 | 20