Annual rank38
Denmark · Industrials
NKT
Designs, manufactures and markets high-, medium- and low-voltage power cables and provides cable services.
FY2022–FY2025
FY2022–FY2025
FY2022–FY2025
current context only
Company profile
Cable systems engineered from the factory floor to the seabed
NKT is a pure-play power-cable group: it designs and manufactures high-, medium- and low-voltage cables, joins them with accessories, installs large offshore and onshore systems and services operating links. Its complete-solution model connects material and system design to factory testing, route preparation, laying, burial, jointing, monitoring and repair, reducing interface risk across stages.
Products and technology
One portfolio spans building wire to 640 kV transmission
NKT's range begins with building wire and low-voltage control, fire-performance and telecom-energy cables, then moves through medium-voltage distribution to AC and DC transmission systems on land and below the sea. At the high end, its qualified 640 kV extruded HVDC system is designed to transmit up to 3 GW; a pair could carry enough power for about three million households. Cologne and Karlskrona are the principal high-voltage factories, while a wider European plant network makes distribution cables, compounds, joints, connectors and terminations.
- Navigate the cable portfolio High-, medium- and low-voltage systems, accessories and services
- Open the transmission range Onshore and offshore high-voltage cable solutions
- Inspect the 640 kV system Qualified extruded HVDC technology rated for up to 3 GW
- Map factories to products European plants for HV, MV, LV cables and accessories
Production and installation
A 200-metre tower feeds vessels built around the cable
Karlskrona applies insulation while long cable lengths hang vertically to cool. NKT Crown, the 200-metre third extrusion tower, a new test centre and harbour are scheduled to join the expanded site in 2027; they are still being built. At sea, NKT Victoria integrates route work, laying, jointing and burial. Eleonora is the next vessel under construction: three turntables and more than 23,000 tonnes of planned cable capacity are intended to let it carry three power cables for large 525 kV projects.
- Enter the Karlskrona expansion Extrusion, cooling, testing, harbour works and the 2027 boundary
- Follow the complete solution R&D, engineering, production, testing, installation and service
- Trace an offshore installation Survey, route preparation, laying, burial, pull-in and final testing
- ▶ VideoWatch NKT Victoria at work Official English film of the operating cable-laying vessel
- ▶ VideoExplore Eleonora in 360 degrees Official animation of the planned three-turntable vessel
Projects and lifecycle
Delivery continues after the cable enters service
Caithness-Moray is completed evidence of the turnkey chain: NKT supplied a 160 km, 320 kV HVDC on- and offshore system, and Victoria made its first installation voyage on the link. In 2025, NKT manufactured and jointed replacement cable for the Dutch section of the 580 km NorNed interconnector, which returned to operation after the planned work. Lifecycle teams then support modern and legacy systems with monitoring, spares, fault location, repair and refurbishment; MakeSense combines temperature, acoustic, burial-depth and vessel data into one cable-health view.
- Review a completed turnkey link Caithness-Moray's 320 kV system and Victoria's first installation voyage
- See NorNed return to operation Manufacture, jointing and planned replacement on a 450 kV interconnector
- Open the lifecycle toolkit Installation, maintenance, legacy systems, spares and emergency repair
- Understand integrated monitoring How sensor and vessel data become a cable-health picture
Positioning and growth
Charging Forward shifts the challenge from expansion to execution
NKT describes a decade-long move from diversified conglomerate to pure-play cable provider. Its 2026-2030 Charging Forward plan is built around Execute, Excel and Evolve: deliver the high-voltage backlog and capacity programme, improve existing operations and pursue technology-led selective growth. The EUR 10.2 billion high-voltage backlog reported at 31 December 2025 represents awarded work, not completed revenue. It sits beside live construction at Karlskrona and Eleonora, so project execution and commissioning remain central to the strategy.
- Read the three strategic pillars Execute, Excel and Evolve through 2030
- Separate backlog from delivery 2025 performance, awarded work and capacity still being expanded
- Follow the 1891-to-pure-play path Cable innovations and corporate milestones
- Check Eleonora's build status Steel cutting, keel laying and planned capabilities
Official profile sources: Our story — NKT · About us — NKT
Current 2026 update
What has changed in 2026?
Reusable 400 kV cable deployment · 13 July 2026
Reusable 400 kV cable deploymentlatest official update
4company-specific highlights
+11%2026 stock return · context only
Revenue and organic growth
Q1 revenue at standard metal prices fell to EUR 610m from EUR 630m, an organic decline of 4%; revenue at market prices was EUR 864m versus EUR 837m.
Operational EBITDA
Q1 operational EBITDA rose to EUR 97m from EUR 81m, while the margin on standard-metal revenue improved to 16.0% from 12.9%.
Orders, backlog and cash flow
Two awards above EUR 4.2bn produced record quarterly order intake; Transmission backlog reached EUR 13.5bn versus a EUR 10.2bn high-voltage backlog at year-end, while free cash flow was EUR -92m.
Reusable 400 kV cable
NKT deployed a reusable 400 kV temporary cable system for Amprion that can be disconnected, stored and redeployed during grid upgrades.
Official 2026 sources: NKT A/S Q1 2026 Interim Report: Record-high order intake and EBITDA of EUR 97m · 13 May 2026 · NKT delivers reusable 400 kV temporary cable solution for Amprion's grid upgrade · 13 July 2026
Annual record
Ranking history
Future editions add rows; they do not rewrite the 2026 record.
| Edition | Measurement period | Rank | Revenue growth | Net-income growth | Stock return |
|---|---|---|---|---|---|
| 2026 | FY2022–FY2025 | 38 | +72% | +341% | +122% |