Ntg Nordic Transport Group A/s · OMXCOP:NTG
Ntg Nordic Transport Group A/s — Q1 2025 Earnings Presentation
30 slides from Ntg Nordic Transport Group A/s's earnings presentation, May 2025
Slide 1: Q1 2025 results
Q1 2025 results Investor presentation
Slide 2: Forward looking statements
Forward looking statements This presentation has been prepared for information purposes only. This presentation (i) is by necessity a summary of more detailed information, (ii) is not intended and should not be used to form the basis of any investment decision, and (iii) does not purport to be full
Slide 3: Content
Content • Q1 2025 highlights • M&A update • Financial review • Business segments • Other key figures • Outlook for 2025 • Appendix
Slide 4: Q1 2025 highlights
Q1 2025 highlights • Two acquisitions were signed during the quarter, strengthening our Nordic and UK road entities – The acquisition of DTK was closed May 7 2025. • Results were negatively affected by the market conditions in Germany, especially impacting the two German acquisitions. • On May 7 202
Slide 5: M&A update
M&A update Acquisition of DTK Key rationale DTK Road & Logistics • Strong market position in the Nordics • 1,156m 94m 115 Further enhancing our capabilities in temperature-controlled transportation Revenue DKK EBIT DKK White collars • Merging certain Danish general cargo entities with NTG Road A/S f
Slide 6: Financial review
Financial review Comments Q1 DKKm 2025 2024 ∆ • The European road market continues to be muted, especially Net revenue 2,695 2,158 24.9% due to a weak German market. Gross profit 602 463 30.0% • Macroeconomic developments Adjusted EBIT 121 114 6.1% have been characterised by high uncertainty, impact
Slide 7: Road & Logistics
Road & Logistics Comments Q1 DKKm 2025 2024 ∆ • Current market conditions impacted by low growth and Net revenue 2,005 1,604 25.0% ongoing pressure on freight costs. Gross profit 454 347 30.8% • The division successfully Adjusted EBIT 100 103 -2.9% implemented price increases in the Nordics, while f
Slide 8: Air & Ocean
Air & Ocean Comments Q1 DKKm 2025 2024 ∆ • Market grew despite increased volatility and uncertainty related to Net revenue 691 553 25.0% the announced US tariffs during the Gross profit 148 116 27.6% latter part of the quarter. Adjusted EBIT 22 12 83.3% • The gross margin was flat compared to the sa
Slide 9: Key figures
Key figures Q1 Comments DKKm 2025 2024 • Net working capital negatively ROIC before tax 18.6% 28.2% affected by seasonality and the Return on equity 23.8% 33.7% integration of the two German Solvency ratio 25.2% 27.9% acquisitions. Leverage ratio (NIBD/EBITDA before special items) 2.6x 1.3x • The ne
Slide 10: Full-year outlook 2025
Full-year outlook 2025 DKKm 2024 realised Previous outlook Updated outlook Adjusted EBIT 524 575 – 650 560 – 630 Main assumptions • The updated full-year outlook assumes flat development in activity in the road market. However, due to very low visibility in the German road market, there is a potenti
Slide 11: Appendix
Appendix Investor.ntg.com
Slide 12: NTG at a glance
NTG at a glance Decentralised Road & Logistics +2,900 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 13: 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 14: The history of NTG
The history of NTG +35 Acquisitions +35 Start-ups +20 Countries +20% ROIC before tax 2011 2015 2019 2024 Past five-year CAGR: 12% Road & Logistic Revenue Past 10 years: CAGR: 26% Air & Ocean Revenue
Slide 15: 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 16: 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 Nagel Group 1,480 1,234 T
Slide 17: 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 18: 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 19: Route '27
Route ‘27 Fit-for-future platform
Slide 20: 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 21: Route '27 strategy: opportunities and challenges
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 22: NTG's Group function will transform into an active platform
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 23: Through 2027 we will focus on growing our core markets
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 24: 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 25: 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 26: Financial details
Financial details
Slide 27: P&L details – Group
P&L details – Group Group (DKKm) FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Net revenue 5,332 5,332 7,302 10,224 8,338 2,158 2,305 2,296 2,593 9,352 2,695 Direct costs -4,245 -4,094 -5,828 -8,212 -6,472 -1,695 -1,830 -1,840 -2,014 -7,379 -2,093 Gross prof
Slide 28: P&L details – Divisions
P&L details – Divisions Road & Logistics (DKKm) FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Net external revenue 4,122 4,275 5,548 6,880 6,212 1,604 1,662 1,558 1,794 6,618 2,005 Direct costs -3,340 -3,296 -4,406 -5,434 -4,826 -1,257 -1,305 -1,233 -1,376 -
Slide 29: Growth components per quarter
Growth components per quarter Q1 2025 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 2.3% 22.4% 0.3% 25.0% -3.8% 34.3% 0.3% 30.8% -8.7% 5.8% 0.0
Slide 30: Investor Relations
Investor Relations Investor Relations Contact Financial Calendar 2025 Sebastian Rosborg Head of investor Relations 12. May 2025 Q1 2025 Interim Report +45 4212 8099 sebastian.rosborg@ntg.com ir@ntg.com | press@ntg.com 11. August 2025 H1 2025 Interim Report 10. November 2025 Q3 2025 Interim Report Sh
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