Cable manufacturer NKT reduces deficit before major acquisition

Cable manufacturer NKT makes progress during 2016 and expects a bright future in the European transmission market after acquiring ABB's cable division. However, the year will not exactly be booming. The result improved by EUR 22 million but the bottom line remains in the red.

Danish cable manufacturer NKT Cables has cut its deficit in half during 2016 landing at a loss of EUR 22 million. In 2015, the result was a loss of EUR 44 million.

The improvement has come during a year where EUR 200 million disappeared from the top line and the operating result (EBITDA) was slashed in half down to EUR 26 million, according to the company's annual report, released Tuesday.

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