Praise for NKT Group ManagementClaus Wiinblad, investment manager for ATP, then took the rostrum. He began by thanking the Chairman of the Board for his report and expressed his appreciation of the way in which the NKT Group Management had tackled the past challenging year. Claus Wiinblad emphasized that times of crises like the present were not the moment to lean back. On the contrary, there was a need to quickly take the measures necessary. Claus Wiinblad praised NKT for having taken action relatively early on and initiated the necessary steps. This was testimony to considerable preliminary work by NKT Management in identifying those areas of the company where action could be taken and the necessary changes made. Claus Wiinblad stressed in this connection that NKT had been good at adjusting its level of costs to the new and more challenging times. However, he wished to hear what further possibilities were open to NKT in the form of adjustments to both the company and its costs should the crisis deteriorate further, and whether this could be done without significantly damaging earnings potential.
Replying to the questions from Claus Wiinblad, the Chairman of the Board said he hoped to avoid ‘cutting down to the bone’. The Chairman stated that NKT had a contingency plan should the present crisis deteriorate significantly, but that he was reluctant to disclose the individual details of the plan.
