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    NKT   DK0010287663

NKT A/S

(NKT)
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NKT A/S Is Preferred Turnkey Supplier for the Champlain Hudson Power Express Project in the United States

09/21/2021 | 01:21am EDT

NKT A/S has entered an exclusive Preferred Supplier Agreement (PSA) for delivery of the power cable system to the prospective high-voltage DC Champlain Hudson Power Express transmission line in the US. The project is being developed by Transmission Developers Inc. (TDI). Earlier this year, Hydro-Québec (HQ) and TDI submitted the final project application to the New York State Energy Research and Development Agency (NYSERDA). Now, HQ and TDI have been selected for the Tier 4 renewable energy credits (RECs) needed to proceed towards final project award by the relevant US authorities. In addition, for NKT to receive a firm order, final contract negotiations and financial close are to be concluded. Currently, these steps are expected to be finalized no later than 2022. The potential project is currently expected to have a value of approx. EUR 1.1 billion (approx. DKK 8.2 billion) measured in current market metal prices. The NKT order will comprise engineering, manufacturing as well as installation of the cables along the route. The Champlain Hudson Power Express will facilitate transmission of sustainable hydropower from Canada to New York City in the US. The 1,250 MWs transmission line will become a substantial contribution to the City of New York’s ambitions of transforming its power generation and consumption to come predominantly from renewable sources.


© S&P Capital IQ 2021
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Financials
Sales 2021 13 398 M 2 098 M 2 098 M
Net income 2021 -46,8 M -7,33 M -7,33 M
Net Debt 2021 1 689 M 265 M 265 M
P/E ratio 2021 -279x
Yield 2021 -
Capitalization 13 323 M 2 083 M 2 086 M
EV / Sales 2021 1,12x
EV / Sales 2022 0,90x
Nbr of Employees 4 046
Free-Float 100%
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Mean consensus BUY
Number of Analysts 5
Last Close Price 310,00 DKK
Average target price 341,20 DKK
Spread / Average Target 10,1%
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Managers and Directors
Alexander Kara President & Chief Executive Officer
Line Andrea Fandrup Chief Financial Officer & Executive Vice President
Jens Peter Due Olsen Chairman
Anders Jensen Chief Technology Officer & Executive VP
Dietmar Müller Chief Operations Officer & Executive VP
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