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Draka Holding News



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 Thursday September 13 2001
Draka first-half profits
Draka Holding said its first-half net profit rose 43% to euro 59 mln year-on-year, boosted by strong Chinese demand for fibre optic cables. Draka's first-half sales grew by 12% to euro 987 mln. Draka expects full-year net profit to go up by 20% from last year's euro 150 mln. The company expects overall demand for fibre optic cables, except for China, for the latter half of the year to be lower than the first half.

Thursday March 1 2001
Considerable growth Draka
Draka Holding N.V. of Amsterdam (telecommunication cable and systems and low voltage and special purpose cable) achieved a net profit of Euro 96,7 million in 2000, which is an increase of 44% compared to 1999 (Euro 67,3 million). Net turnover rose by 56% to Euro 1729,5 million. Profit per ordinary share showed a rise of 22% from Euro 3,75 to Euro 4,58.

Friday September 15 2000
Draka wins USD 175 mln order
Draka Holding said on Friday it had won an USD 175 mln order from a US telecommunication company for its JETnet fiber optic cable network system. Draka, which did not name the customer, only said it was an "important" US telecoms company. Draka, Europe's third-largest cable maker with operations in 22 countries, said the construction of the network of tens of thousands kilometers would take about three years.

Draka Holding H1 net profit up 48%
Draka Holding reported on Friday net profit for the first-half of 2000 increased 48% to EUR 41.2 mln, compared with net profit of EUR 27.8 mln the company booked in the comparible period of 1999. Turnover doubled from EUR 411.1 mln to EUR 859.6 mln. Operating income increased 63% from EUR 41.8 mln to EUR 68.0 mln. Earnings per share for the first-half of 2000 increased 27% to EUR 2.00, compared with earnings per share of EUR 1.57 for the first-half of 1999.

Wednesday March 22 2000
Draka net profit up 22%
Draka Holding reported on Wednesday net profit for 1999 increased 22% to EUR 67.3 mln, compared with net profit of EUR 55.3 mln the company booked in the comparible period of 1998. Turnover increased 57% from EUR 704.9 mln to EUR 1,108.0 mln. Most of the turnover growth was the result of acquisitions and only 5% of the sales increase was organic.

Thursday February 17 2000
Draka stops production of high-voltage cables
Draka Holding said on Thursday that it would stop the production of high-voltage cables due to continuing overcapacity in the sector. In the mean time, Draka is expanding its telecom activities through a share swap with BIGC General Cable of the US. Draka will sell its 50% stake in German joint venture Kaiser KWO Kabel Energie to BIGC, in return for a 50% interest in telecom cables unit Kaiser KWO Kabel Telecommunication from BIGC. The swap will end the joint ventures between the two companies.

Monday January 31 2000
Draka finalises energy cable sale
Draka has finalised the sale of the energy cable activities of NKF Kabel and NK Energy of Finland to Pirelli Cables & Systems. Financial details of the deal were not disclosed. The sale of the activities, witch have annual turnover of some EUR 200 mln, was delayed last year due to a big transaction between Pirelli and Cisco Systems.

Monday January 3 2000
Draka fails to sell NKF units to Pirelli
Draka Holding said on Monday that it had failed to divest the energy cable activities of NKF Kabel in Delft and NK Energy in Pikkala (Finland) to Pirelli Cables & Systems before the end of 1999 as planned. Draka said that the talks would be continued this week and that the sell-off is expected to be completed soon.

Tuesday November 16 1999
Draka expands in Scandinavia
Draka is taking over almost all the Norwegian and Scandinavian cable interests of the ABB group, Draka announced yesterday. The takeover will boost Draka's share of the Scandinavian market to 25%. The five new plants have joint sales of EUR 200 mln and employ 850 people. This latest takeover, coming on top of earlier acquisitions in the UK (Delta) and Holland (NKF), boosts Draka into third place in the European cable market.

Friday September 24 1999
Draka in Japanese joint venture
Draka Holding announced on Friday that Draka Holding and Fujikura are to form a 50/50 joint venture in Japan to produce fiber optical cables for Fujikura. Fujikura is one of the biggest cable manufacturers in Japan with annual turnover of USD 2.8 bn. The joint venture is to use the so-called PCVD technology of Draka subsidiary Plasma Optical Fiber of Eindhoven.

Thursday September 9 1999
Draka Holding H1 net profit up 10%
Draka Holding reported on Thursday net profit for the first-half of 1999 increased 10% to EUR 27.8 mln, compared with net profit of EUR 25.3 mln the company booked in the comparible period of 1998. Turnover increased 12% from EUR 366.3 mln to EUR 411.1 mln, partly due to the consolidation of US cable maker Delta, which Draka acquired in March.

Tuesday June 1 1999
Shareholders approve Draka bid for NKF
Three shareholders in cable firm NKF -- ING, Flint Holding and Twentsche Kabel -- have agreed to the takeover bid by Draka Holding. ING and Flint Holding each have a stake of approximately 10%, while Twentsche Kabel has a smaller stake of less than 5%. Draka said it will consider the bid successful once it has a guarantee of acquiring 70% of NKF shares. Draka expects to announce the official bid by June 24.

Wednesday May 26 1999
Draka makes public bid for NKF
Draka Holding has made a public offer of EUR 32 per share for all the shares outstanding in NKF. The offer is 30% above NKF's average closing price for the past 30 days. The two companies expect synergies in the production of fibre-optic cables and systems and growth oportunities in low-tension and mobile telecommunications cables. If the bid succeeds, the combine will have annual turnover of more than NLG 3 bn.

Tuesday March 2 1999
Draka acquires UK firm
Draka has acquired loss-making Delta of the UK for NLG 70 mln. The takeover will give the company more than 30% of the UK market. Delta specialises in standard low-tension cables for the building and manufacturing industries and has annual turnover of around NLG 430 mln.

Draka Holding net profit up 15%
Draka Holding reported on Tuesday net profit for 1998 increased 15% to NLG 121.8 mln, compared with net profit of NLG 105.7 mln the company booked in the comparible period of 1997. Turnover decreased 5% from NLG 1,631.3 mln to NLG 1,553.5 mln. Operating income increased 4% from NLG 166.0 mln to NLG 172.7 mln. Earnings per share for 1998 increased 10% to NLG 7.02, compared with earnings per share of NLG 6.40 for 1997.

Tuesday January 19 1999
Draka acquires stake in MCI Cable of Thailand
Draka Holding announced on Tuesday the acquisition of a 65% stake in MCI Cable of Thailand from Monterey Holdings. MCI Cable was founded twoe years ago and is based in Bankok. The company generates annual turnover of some NLG 40 mln. Draka Holding said that the Asian economic crisis created an favourable investment climate. The transaction will be paid for in cash. Draka expects that the acquisition will contribute to earnings per share this year.

Wednesday November 25 1998
Draka and NFK to set up a joint venture
Draka and the Finnish subsidiary of NFK are to set up a joint venture in China with two Chinese partners to produce cables for the telecommunications industry. Draka and NFK are forecasting major growth in the Chinese communications market. At the end of last year, there were 13.2 mln mobile phones in the country.

Monday September 21 1998
Draka settles row with Corning
Draka has reached an out-of-court settlement with competitor Corning of the US on a patents dispute. Corning filed a complaint with the International Trade Commission four months ago alleging two Draka subsidiaries had infringed a patent on a glass fibre manufacturing process developed by the US company. Draka said the settlement did not involve money and would therefore not affect its earnings.

Thursday September 3 1998
Draka Holding H1 net profit up 13%
Draka Holding reported on Thursday net profit for the first-half of 1998 increased 13% to NLG 55.6 mln, compared with net profit of NLG 49.1 mln the company booked in the comparible period of 1997. Turnover leveled atNLG 807 mln. Operating income increased 6% from NLG 78.6 mln to NLG 83.4 mln. Earnings per share for the first-half of 1998 increased 7% to NLG 3.21, compared with earnings per share of NLG 3.00 for the first-half of 1997.

Wednesday May 27 1998
Draka fights Corning complaint
Draka Holding said it would fight a complaint filed by Corning Inc with the U.S. International Trade Commission (ITC) seeking to bar optical fibre imports to the U.S. by one of Draka's units. Following the complaint by Corning, the ITC has started an administrative procedure against Draka units Plasma Optical Fibre BV (POF), based in Eindhoven in the Netherlands, and Chromatic Technologies Inc in Franklin (MA) in the U.S., Draka said in a statement.

Friday March 20 1998
Draka reports net profit up 31%
Draka Holding reports net profit for 1997 increased with 31% to NLG 105.7 mln, compared with NLG 80.7 mln the company booked in 1996. Turnover increased with 29% from NLG 1,261 mln to NLG 1,631 mln. Operating result rose by 27% at NLG 166 mln, compared with NLG 130 mln for the previous year. Earnings per share increased with 26% to NLG 6.40 from NLG 5.09.

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