Ntg Nordic Transport Group A/s · OMXCOP:NTG
Ntg Nordic Transport Group A/s — FY2024 Earnings Presentation
29 slides from Ntg Nordic Transport Group A/s's earnings presentation, March 2025
Slide 1: Full year 2024 results
Full year 2024 results Investor presentation
Slide 2: Content
Content • Full year highlights • M&A update • Financial review • Business segments • Other key figures • Outlook for 2025 • Appendix
Slide 3: Full year highlights
Full year highlights • Announced five acquisitions during 2024, strengthening our Continental European presence, our Furniture vertical, and APAC organisation. • Full-year 2024 EBIT was in line with guidance for the year, and we delivered organic growth in both divisions. • Defined our strategy to r
Slide 4: M&A update
M&A update Latest closed transactions Closed transactions Road and Logistics Air & Ocean 77m NI 41 599m 80m 130 Revenue DKK EBIT DKK White collars Revenue DKK EBIT DKK White collars Road and Logistics 91m 4m 21 Italian Land-based furniture activities Revenue DKK EBIT DKK White collars Road and Logis
Slide 5: Financial review
Financial review Comments Q4 Full year DKKm 2024 2023 ∆ 2024 2023 ∆ • In 2024, global freight forwarding markets were once again impacted Net revenue 2,593 2,001 29.6% 9,352 8,338 12.2% by high volatility. E.g., conflict in the Gross profit 579 463 25.1% 1,973 1,866 5.7% Red Sea, changes in ocean Ad
Slide 6: Road & Logistics
Road & Logistics Comments Q4 Full year DKKm 2024 2023 ∆ 2024 2023 ∆ • 2024 proved to be another challenging year. We estimate that Net revenue 1,794 1,530 17.3% 6,618 6,212 6.5% our core markets declined by low to Gross profit 418 349 19.8% 1,447 1,386 4.4% mid-single digits. Adjusted EBIT 94 117 -1
Slide 7: Air & Ocean
Air & Ocean Comments Q4 Full year DKKm 2024 2023 ∆ 2024 2023 ∆ • The global air and ocean freight market in 2024 was impacted by Net revenue 799 472 69.3% 2,734 2,126 28.6% uncertainty and significant rate Gross profit 162 114 42.1% 526 480 9.6% volatility, while volumes showed a Adjusted EBIT 37 55
Slide 8: Key figures
Key figures Full year Comments DKKm 2024 2023 • Net working capital was primarily ROIC before tax 21.6% 32.0% impacted by local challenges in the Return on equity 27.4% 37.7% US entities. The development Solvency ratio 26.9% 28.5% stabilised during Q3 after several Leverage ratio (NIBD/EBITDA before
Slide 9: Full-year outlook 2025
Full-year outlook 2025 DKKm 2024 realised 2025 outlook Adjusted EBIT 524 575 – 650 Main assumptions • The outlook assumes a slight volume growth in both divisions, but with continued pressure from soft macroeconomics and continued muted consumer confidence. • In the European road and logistics marke
Slide 10: Appendix
Appendix Investor.ntg.com
Slide 11: NTG at a glance
NTG at a glance Decentralised Road & Logistics +2,700 Local commercial decision-making and responsibility close to the customers supported by a centralised Group function providing Employees group-wide IT systems, legal assistance, and general administration. +200 Technology Partners Our scalable IT
Slide 12: Business and value creation
Business and value creation … to consignee NTG provides transport solutions by road, rail, air, and ocean, combined with … and end-to-end logistics contract logistics. Our flexible, asset-light business model enables us to navigate solutions from shipper to consignee. supply chains together with emp
Slide 13: The history of NTG
The history of NTG +35 Acquisitions +35 Start-ups +20 Countries +25% ROIC before tax 2011 2015 2019 2024 Past five-year CAGR: 12% Road & Logistic Revenue Past 10 years: CAGR: 26% Air & Ocean Revenue
Slide 14: The history of NTG
The history of NTG New start-ups 2 2 1 2 5 4 5 2 6 4 - 2 1 1 M&A activity Italian Land-based furniture activities 3 +3 acquisitions +1 acquisitions Nordics acquisitions DK +2 +3 acquisitions 2 acquisitions 2 1 acquisitions acquisitions acquisitions 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2
Slide 15: Top European road freight forwarders
Top European road freight forwarders 2023 revenue in mEUR DB Schenker 7,837 DHL 5,162 Dachser 4,400 Top 5: DSV Kuehne + Nagel 3,823 4,351 ~6% FedEx 3,627 of 2023 market Geodis 3,469 share Rhenus 3,375 CEVA (incl. GEFCO) 2,999 LKW Walter 2,790 XPO Logistics 2,781 Raben Group 1,480 Nagel Group 1,234 T
Slide 16: NTG current regional split
NTG current regional split EMEA: 85% Road & Logistics: 71% Americas: 14% Air & Ocean: 29% APAC*: 1% Revenue Revenue FY 2024 FY 2024 *Freightzen Logistics closed 1. September 2024
Slide 17: NTG partnership structure
NTG partnership structure Attractive co-ownership model • An attractive model enabling local decision making and entrepreneurship • Strong incentive structure for attracting skilled freight forwarders NTG Group Partners Majority Minority • Potential leverage when doing M&A to retain a strong managem
Slide 18: Route '27
Route ‘27 Fit-for-future platform
Slide 19: From a Danish Road Insurgent in 2019 to Global Freight Forwarder in 2024
From a Danish Road Insurgent in 2019 to Global Freight Forwarder in 2024… LEGAL ENTITIES EMPLOYEES REVENUE & EBIT (DKKm) OPERATING MARGIN EARNINGS PER SHARE1 (DKK) 62 82 1,335 2,900 9,352 5.6% in 2024 13.92 in 2024 5,332 524 compared to compared to - 208 3.9% in 2019 -0.64 in 2019 2019 2024 2019 202
Slide 20: Opportunities
EBIT in DKKm WHERE WE’RE GOING 2025-2027 WHERE WE ARE NOW 1,000 2024 WHERE WE’VE BEEN ‘ROUTE ’27’ STRATEGY – OUR 524 OPERATING MODEL FOR 2019-2024 OUTPERFORMANCE TRANSPARENT VIEW OF GROWTH 208 AVENUES & CHALLENGES Leverage and scale network benefits FROM DANISH ROAD INSURGENT TO OPPORTUNITIES Scale
Slide 21: NTG's Group function will transform into an active platform orchestrator
To address opportunities & challenges, NTG’s Group function will transform into an active platform orchestrator, with distinct roles across the maturity life cycle Strategic priority Provide backbone for Reduce complexity, ensure resilience accelerated growth and enable synergy capture Turnkey provi
Slide 22: Through 2027 we will focus on growing our core markets, customers & verticals
Through 2027 we will focus on growing our ‘core’ markets, customers & verticals supported by a well-defined operating blueprint for success Our Vision DKK 1bn adjusted EBIT in 2027 & ambition The trusted partner of choice for global supply chain solutions Markets Customers Verticals Core focus areas
Slide 23: Operating model for outperformance
Operating model for outperformance: To continue our expansive trajectory, we will adapt and advance our operating model within the center and across our footprint Leverage and Scale our Global Advance Data-Driven Network Benefits Performance Management Enhance support structures to identify and Enha
Slide 24: Timeline for implementation and execution
Timeline for implementation and execution 2025 2026 2027 Road & Logistics Plan & Jointly launch Make enhanced Continuous Mobilise and refine Group support improvement people initiatives available across NTG Air & Ocean Mobilise Launch Full launch of Track execution and and initiatives at initiatives
Slide 25: Financial details
Financial details
Slide 26: P&L details – Group
P&L details – Group Group (DKKm) FY 2019 FY 2020 FY 2021 FY 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 FY 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Net revenue 5,332 5,332 7,302 10,224 2,254 2,120 1,963 2,001 8,338 2,158 2,305 2,296 2,593 9,352 Direct costs -4,245 -4,094 -5,828 -8,212 -1,777 -1,638 -1,
Slide 27: P&L details – Divisions
P&L details – Divisions Road & Logistics (DKKm) FY 2019 FY 2020 FY 2021 FY 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 FY 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Net external revenue 4,122 4,275 5,548 6,880 1,648 1,575 1,459 1,530 6,212 1,604 1,662 1,558 1,794 6,618 Direct costs -3,340 -3,296 -4,406 -
Slide 28: Growth components per quarter
Growth components per quarter Q1 2024 growth Net revenue Gross profit Adjusted EBIT components Total Total Total Organic Acquisitions Currency Organic Acquisitions Currency Organic Acquisitions Currency growth growth growth Road & Logistics -4.8% 1.8% 0.3% -2.7% -3.2% 2.6% 0.3% -0.3% -14.6% 2.6% 0.0
Slide 29: Investor Relations
Investor Relations Investor Relations Contact Financial Calendar 2025 Sebastian Rosborg Head of investor Relations 5. March 2025 Annual report 2024 +45 4212 8099 sebastian.rosborg@ntg.com ir@ntg.com | press@ntg.com 28. March 2025 Annual General Meeting 12. May 2025 Q1 2025 Interim Report Share Infor
NTG Nordic Transport Group — FY2024 Earnings Presentation on 6ix