NKT has overhauled its organisational structure and outlined new medium-term financial ambitions as it prepares for continued expansion driven by Europe’s accelerating energy transition, the Danish cable manufacturer said on Thursday.
The company said the past five years have seen rapid growth in renewable generation, electrification and grid modernisation. “In the past five years, the European energy transition has accelerated, driven by increased renewable power generation, electrification of societies, and grid modernisation,” NKT said in a statement. “In anticipation of this, NKT initiated significant investments in physical assets and people across the company, which have fuelled growth in revenues and earnings and increased the order backlog.”
President and CEO Claes Westerlind said the company’s expansion will require disciplined implementation. “It is all about execution, being strong enough to scale up quickly, while preserving our technological differentiation, sharpening our competitiveness, leading in sustainability, and keeping people at the centre,” he said.
NKT’s new medium-term targets include achieving more than 7% compound annual revenue growth from 2028 to 2030 and reaching over €900 million in earnings by 2030.
As part of the restructuring, several senior leadership changes will take place. Darren Fennell, currently executive vice president and head of HV Solutions Karlskrona, will become executive vice president and head of Transmission. Raphael Görner will join the company by 1 April 2026 as executive vice president and head of Grid Solutions; chief operating officer and deputy CEO Will Hendrikx will serve as interim head until then.
Two executives will depart: Lukas Sidler, executive vice president and head of HV Solutions Cologne, will leave by the end of 2025, and Axel Barnekow Widmark, executive vice president and head of Service & Installation, will depart no later than the end of the first quarter of 2026.
