With revenue of 2,981 mDKK and operational EBITDA of 263 mDKK, operating performance for 3rd quarter 2009 was in line with xpectations. The structural initiatives introduced continue to yield positive results, but the market conditions
remain challenging. Expected operational EBITDA for 2009 has now been revised from previously 700-900 mDKK to not less than 850 mDKK

Summary
Net revenue for the 3rd quarter corresponds to negative organic growth of 12% compared with 3rd quarter 2008. With revenue
of 8,760 mDKK (10,683 mDKK in 2008), organic growth for 2009 to date is -11%. The main reason is the challenging market
conditions. The NKT Group is exposed in industries in which material signs of improvement are yet to be seen. There is continued low visibility in these business units, although the world economy has reportedly entered a stabilization phase. The strategy is to continue the expansionary and structural measures in both units and to utilize the opportunities presented by e.g. customer investment in infrastructure.

Operational EBITDA in the 3rd quarter comprised 263 mDKK, a fall of just over 100 mDKK (360 mDKK in 3rd quarter 2008). The fall in earnings was primarily attributable to declining revenue in NKT’s core segments and lower profits in NKT Flexibles. Strong focus remains on effective completion of the restructuring measures initiated to improve earnings margins, and this is having positive influence on results. EBITDA margin for 3rd quarter 2009 was 10.7%, (12.8% for the same period in 2008). Cash flow from operating activities and working capital have improved both in relation to 3rd quarter 2008 and 2nd quarter 2009. At 30 September 2009 working capital had been reduced against 30 September 2008 by more than 1 bnDKK. Interest bearing debt has increased by approx. 100 mDKK against 30 June 2009 as a result of investment in the new cable factory in Cologne. NKT’s overall capital resources are unchanged at approximately 2.5 bnDKK, and the Group’s debt remains independent of financial covenants.NKT expects to be in strong shape ready to capture market
shares and increase earnings margins when demand rises.

NKT Cables realized organic growth of -10% for the 3rd quarter and -7% for the year’s first nine months. EBITDA margin (LTM) further decreased to 7% in the 3rd quarter (7.6% in the 2nd quarter.) This was due to declining demand and thus also
increasing competition in the medium and low voltage segments. As expected, the running-in of the new high voltage factory in Cologne led to a number of additional costs. With the acquisition of a high voltage factory in China from 1 January 2010, capacity in this segment will be increased, strengthening NKT Cables’ position in the Chinese market. The demand in China for catenary wires continued in the 3rd quarter and this segment now represents approx. 14% of NKT Cables’ revenue for the year to date.

Based on development in results over the past nine months, final expectations for 2009 have now been adjusted. Anti-cipated organic growth is unchanged at approx. -10%, while the forecast for operational EBITDA has now been revised from previously 700-900 mDKK to not less than 850 mDKK.