Cabling outfit NKT increased operational earnings before interest, taxes, depreciation and amortisation (EBITDA) to €43.8m in the third quarter of 2017, up almost 114% on the €20.5m reported in the same period last year.
The company said strong momentum in the offshore wind sector driven by acquisitions was behind the improved performance.
It acquired ABB’s high-voltage cable business earlier this year.
“The integration of the acquired activities is progressing to plan and during Q3 2017, the combined organisation was fully implemented,” NKT said.
The company has also recently secured a contract for the 700MW Borssele Beta grid link in the Dutch North Sea and preferred supplier status for the 950MW Moray East and 860MW Triton Knoll offshore wind farms.
It added that expected EBITDA for the year will be about €140m, while revenue is projected to be approximately €1.1bn.
Image: NKT
