Kabelproducenten NKT have not had enough to tear through 2018, which have created deficits, and therefore there must now be saved money.
NKT has in February launched an austerity program, where 130 administrative positions being cut away.
It must make savings of 112 million dollars per year, writes the company in its financial statements, which is published on Thursday morning.
NKT produces and sells among other things, submarine cables to offshore wind farms, but has in recent years struggled to get enough orders.
This has meant that there has not been enough to make at the company’s factories to cover the cost.
NKT come out of 2018 with a minus on the 345 million dollars. 2017 was also no jubeldans for the company, but that was the result, however, better with a minus 25.4 million.
The weak results have sent the share price into the floor in 2018, and in november was executive director Michael Hedegaard Heather fired after 11 years on the stick.
He has until now been replaced by Roland M. Andersen, who acknowledges that the results have not been satisfactory in 2018.
– Overall, our financial results in 2018, in line with our recent financial performance from november 2018.
– by 2018, however, has been difficult for the NKT with both internal and external challenges, and hence lower earnings than originally expected, he says in a comment to the financial statements.
He stresses, however, that the NKT through the last half of 2018 won orders to a value of almost six billion crowns, which gives good perspectives for the future.
