Key developments in 2003“NKT Cables attracts particular attention owing to its operating loss of 732 mDKK. The background to this is that we found it necessary to write down the value of a substantial part of the cable company’s fixed assets. The same applied to NKT Flexibles where heavy write-downs were also made on fixed assets. Both companies are also burdened by restructuring costs.
Developments in Nilfisk-Advance were extremely positive in 2002. We more than reached our target for the year and established a positive trend for the future. This was achieved against the background of very substantial efficiency improvements in production and logistics combined with increased development of new products that meet market demands for improved cleaning quality, competitive prices, simple operation and effective after-sales service.
NKT Photonics Group is the collective name for the NKT companies tasked with continuing the strategy of transforming NKT into a growth and development-oriented industrial enterprise. We are working to position these companies as suppliers of components to the telecoms sector or as suppliers of sophisticated optical products to industry.”
Together with NKT Research & Innovation, several new projects have been launched aimed at developing optical components for handling multiple simultaneous - or totally new - tasks. In line with expectations, NKT Photonics Group, which is strongly development-oriented, recorded an operating deficit.
NKT Flexibles, which initiated restructuring measures in 2002, posted a loss for the year. However, we remain convinced that under more favourable market conditions the company has considerable growth potential.
NKT’s property company Priorparken sold a number of properties in 2002 and generated an operating profit of 131mDKK.”
The Chairman also talked about the sale of three companies and about the efforts to find new owners for NKT’s two life science companies.
