Core Insights - NKT A/S reported a strong financial performance in Q2 2025, achieving 13% organic growth and a record operational EBITDA of EUR 105 million, reflecting the highest operational performance in the company's history [1][4] Financial Performance - Revenue for Q2 2025 reached EUR 723 million, up from EUR 605 million in Q2 2024, marking a 13% organic growth [2][3] - Operational EBITDA increased to EUR 105 million in Q2 2025 from EUR 86 million in Q2 2024, with an operational EBITDA margin of 14.5%, slightly above the 14.2% reported in the same quarter last year [2][4] - For H1 2025, revenue totaled EUR 1.353 billion, compared to EUR 1.139 billion in H1 2024, with a 12% organic growth [2] Segment Performance - Solutions segment revenue was EUR 450 million in Q2 2025, up from EUR 379 million in Q2 2024, with an operational EBITDA of EUR 66 million [10] - Applications segment revenue increased to EUR 234 million from EUR 175 million, with operational EBITDA rising to EUR 31 million [10] - Service & Accessories segment revenue grew to EUR 70 million from EUR 64 million, achieving an operational EBITDA of EUR 14 million [10] Order Backlog and Investments - At the end of Q2 2025, the high-voltage order backlog stood at EUR 10.1 billion, down from EUR 10.7 billion at the end of Q1 2025 [5] - The company is progressing with high-voltage capacity investments, including the expansion of the site in Karlskrona, Sweden, and the construction of a new cable-laying vessel, NKT Eleonora, expected to be operational by 2027 [8][9] Financial Outlook - The updated financial outlook for 2025 anticipates revenue between EUR 2.65 billion and EUR 2.75 billion, and operational EBITDA between EUR 360 million and EUR 390 million [3]