Slide 1: Interim Report H1 2026 Webcast Presentation
August 2026 Interim Report H1 2026 Webcast Presentation
Slide 2: Today's presenting team
Today’s presenting team Claes Westerlind Michael Yong President & CEO CFO NKT A/S | H1 2026 | Webcast | August 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 actual developments and results to differ materially from the ex
Slide 4: Key messages Q2 2026
Key messages Q2 2026 Updated financial outlook following solid financial performance and diligent execution of strategic priorities Organic growth* of -9%, Major milestone of the Capacity expansion Updated financial as expected and Champlain Hudson projects progressed as outlook with revenue* of ope
Slide 5: Agenda
Agenda 06 Business highlights 13 Financial highlights 19 Questions & Answers NKT A/S | H1 2026 | Webcast | August 2026 | 5
Slide 6: Financial performance in Q2 2026
Financial performance in Q2 2026 Organic revenue* growth of -9% as expected, driven by the Transmission business line Key developments in Q2 2026 Group financial highlights (EURm) Revenue at standard metal prices ▪ Revenue at market prices of EUR 947m in Q2 2026 compared to -9% EUR 945m in Q2 2025.
Slide 7: Transmission – Q2 2026
NKT Transmission – Q2 2026 Grid Solutions Transmission Distribution & Accessories High activity level and satisfactory execution Q2 2026 financial highlights Customer 334m -20% 67m offerings ▪ Large high-voltage off-/onshore power cable turnkey systems. Revenue*, EUR Organic growth* Oper. EBITDA, EU
Slide 8: Transmission market and order backlog
NKT Transmission market and order backlog Grid Solutions Transmission Distribution & Accessories High level of market activity in H1 2026, and Transmission order Transmission order backlog (EURbn) backlog maintained at a high level 2.5 2.5 3.5 >3.5 13.0 10.8 10.6 10.2 ▪ NKT estimates that the value
Slide 9: Grid Solutions & Accessories – Q2 2026
NKT Grid Solutions & Accessories – Q2 2026 Grid Solutions Transmission Distribution & Accessories Growth in revenue* and increased profitability Q2 2026 financial highlights Customer 129m 15% 20m offerings ▪ High-voltage AC onshore power cable projects. ▪ Power cable services. ▪ High- and medium-vol
Slide 10: Distribution – Q2 2026
NKT Distribution – Q2 2026 Grid Solutions Transmission Distribution & Accessories Organic growth* driven by power distribution grid segment Q2 2026 financial highlights Customer 239m 1% 27m 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 (HV expansion) Asnaes Esposende (MV expansion) (MV expansion) NKT A/S | H1 2026 | Webcast | August 2026 | 11
Slide 12: Agenda
Agenda 06 Business highlights 13 Financial highlights 19 Questions & Answers NKT A/S | H1 2026 | Webcast | August 2026 | 12
Slide 13: Income statement: Increased operational EBITDA margin
Income statement: Increased operational EBITDA margin Income statement highlights Q2 H1 Key developments in Q2 2026 EURm 2026 2025 2026 2025 ▪ Revenue increased, driven by increased metal prices being Revenue 947 945 1,811 1,782 partly offset by lower revenue on the Champlain Hudson Power Revenue at
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 Q2 H1 Key developments in Q2 2026 EURm 2026 2025 2026 2025 ▪ Cash flow from operating activities of EUR -145m, down from Cash flow from operating activities -145 -1 -91 -142 EUR -1m in Q2 2025, a
Slide 15: Balance sheet: Robust balance sheet and increased capital employed
Balance sheet: Robust balance sheet and increased capital employed Balance sheet highlights 30 Jun 31 Mar 31 Dec Key developments in Q2 2026 EURm 2026 2025 2026 2025 2025 ▪ Working capital amounted to EUR -1,241m at end-Q2 2026 Working capital -1,241 -1,132 -1,524 -1,184 -1,534 compared to EUR -1,52
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 Q2 2026
Key messages Q2 2026 Updated financial outlook following solid financial performance and diligent execution of strategic priorities Organic growth* of -9%, Major milestone of the Capacity expansion Updated financial as expected and Champlain Hudson projects progressed as outlook with revenue* of ope
Slide 18: NKT Investor Day 2026
Invitation NKT Investor Day 2026 NKT Investor Day 29 September 2026 in Karlskrona, Sweden. NKT will present the Charging Forward strategy in more detail, as well as additional insights into the new business line structure effective 1 January 2026. The day will also include a visit to the production
Slide 19: Questions & Answers
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Slide 20: Financial calendar 2026
Financial calendar 2026 2026 events 29 NKT Investor Day 2026, Karlskrona Sep Please visit investors.nkt.com 19 Interim Report, Q1-Q3 2026 Nov for all Investor Relations’ material NKT A/S | H1 2026 | Webcast | August 2026 | 20