Ntg Nordic Transport Group A/s · OMXCOP:NTG
Ntg Nordic Transport Group A/s — Q1 2026 Earnings Presentation
30 slides from Ntg Nordic Transport Group A/s's earnings presentation, May 2026
Slide 1: Q1 2026 results
Q1 2026 results Investor presentation 1
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 2026 highlights • Financial review • Business segments • Other key figures • Outlook for 2026 • Appendix 3
Slide 4: Q1 2026 highlights
Q1 2026 highlights • Gross profit increased by 8.1% and adjusted EBIT increased by 14.9% compared to Q1 last year, driven by the inclusion of DTK and solid organic growth in the Road & Logistics division. • Restructuring initiatives in the Air & Ocean division progressed as planned, while market vol
Slide 5: Financial review
Financial review Comments • Organic growth was 4.4%, driven by Q1 higher volumes and increased DKKm 2026 2025 ∆ freight rates in the Road & Logistics Net revenue 2,983 2,695 10.7% division. Gross profit 651 602 8.1% • Gross margin development Adjusted EBIT 139 121 14.9% reflected the ongoing roll-ou
Slide 6: Road & Logistics
Road & Logistics Comments • While Germany remained subdued Q1 throughout the period, markets DKKm 2026 2025 ∆ outside Germany showed signs of Net revenue 2,410 2,005 20.2% improvement. Gross profit 520 454 14.5% • Freight rates increased during the Adjusted EBIT 129 100 29.0% quarter and were furthe
Slide 7: Air & Ocean
Air & Ocean Comments • Market conditions remained Q1 volatile, while container freight DKKm 2026 2025 ∆ rates were affected by continued Net revenue 573 690 -17.0% market disruption and faced downward pressure as additional Gross profit 131 148 -11.5% capacity entered the market. Adjusted EBIT 10 21
Slide 8: Key figures
Key figures Comments Q1 • Net working capital was driven by DKKm 2026 2025 normal seasonality, further ROIC before tax 15.9% 18.6% impacted by Easter timing effects Return on equity and a temporary build-up related to 16.7% 23.8% the groupage TMS roll-out in Solvency ratio 25.4% 25.2% Germany. Lever
Slide 9: Full-year outlook 2026
Full-year outlook 2026 DKKm 2025 realised Q1 2026 realised 2026 outlook Adjusted EBIT 593 139 600 - 650 Special items expenses 43 12 20 - 25 Main assumptions • The outlook for 2026 is based on expectations of flat to slightly positive volume development across both divisions, while macroeconomic con
Slide 10: Appendix
Appendix Investor.ntg.com 10
Slide 11: NTG at a glance
NTG at a glance Decentralised Road & Logistics +3,000 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: Our asset-light business model
Our asset-light business model · 12
Slide 13: The history of NTG
The history of NTG +3,000 Employees +35 Acquisitions +200 Partners +35 Start-ups +80 Subsidiaries +20% ROIC before tax +25 Countries 2011 2015 2020 2025 Past five-year CAGR: 16% Road & Logistic Revenue Past 10 years: CAGR: 21% Air & Ocean Revenue 13
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
Slide 15: Top European road freight forwarders
Top European road freight forwarders 2024 revenue DSV + DB Schenker // DHL Freight Dachser Top 5: Rhenus Kuehne + Nagel ~7% FedEx Freight of 2024 market Gefco (CEVA) share XPO Europe LKW Walter Geodis Girtek Top 20: Raben Group NTG 2025 incl. M&A Nagel Group H Essers Incl. pro forma revenue from the
Slide 16: Global footprint with significant growth potential
Global footprint with significant growth potential Air & Ocean 22% Divisional split* Road & Logistics 78% Americas APAC: 2% 12% Regional split* EMEA 86% *Revenue split FY 2025 16
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: Our digital platform
Standardisation – Consolidation – Scalability Our digital platform Key focus areas Fast Deploying integration artificial when doing intelligence M&A • Creates transparency across the organisation Customer- facing Agile and lean set-up automation • Supports data-driven and consistent decision-making
Slide 19: AI principles
AI principles Business-led approach Centralised governance AI initiatives are designed to support and Group-wide standards for AI and automation tools enhance the core operating model ensure consistency, control and compliance “Buy b fo bu ld” p losop y One standardised operating model Reducing comp
Slide 20: AI adoption roadmap: From efficiency to transformation
AI adoption roadmap: From efficiency to GUIDING PRINCIPLES transformation Start simple 01 02 03 Prove concept AUTOMATE AUGMENT TRANSFORM What Manual, repetitive, What Human-led activities What Complex, less rule-based tasks supported by AI standardised processes Data Structured, system- Data Structu
Slide 21: Route '27
Route ‘27 Fit-for-future platform 21
Slide 22: Fit for future platform
Fit for future platform • Our size and decentralised model necessitate a Platform scaling & structured, portfolio-level approach to deliver Incubation Acceleration Consolidation synergy capture support customised to the life-cycle needs of each entity. Logistics Groupage FTL/ LTL Air & Ocean • Share
Slide 23: Route '27 operating model
Route ’27 operating model NTG Strategic blueprint Leverage and scale our Invest in Scalability Enablement global network benefits our People (Group-level) Enhance support structures to Create meaningful careers Finance transformation through identify and pursue commercial and through clear pathways
Slide 24: Our business life-cycle from start-up to platform
Our business life-cycle from start-up to platform Part- and full loads Groupage Air & Ocean Contract logistics Start-up Growth Maturity Platform & Scale Decentralised operation Commercial coordination Service consolidation Process & intelligence standardisation Strategic priority domains 24 24
Slide 25: Timeline for implementation and execution
2025 2026 2027 Road & Logistics Timeline for Plan & Jointly launch Make enhanced Continuous implementation Air & Ocean Mobilise people and refine initiatives Group support available across NTG improvement and execution Mobilise and Launch Full launch of Track execution and initiatives at initiatives
Slide 26: Financial details
Financial details 26
Slide 27: P&L details – Group
P&L details – Group Group (DKKm) FY 2021 FY 2022 FY 2023 FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q1 2026 Net revenue 7,302 10,224 8,338 9,352 2,695 2,857 2,941 2,884 11,377 2,983 Direct costs -5,828 -8,212 -6,472 -7,379 -2,093 -2,196 -2,284 -2,221 -8,794 -2,332 Gross profit 1,474 2,012 1,866
Slide 28: P&L details - Divisions
P&L details - Divisons Road & Logistics (DKKm) FY 2021 FY 2022 FY 2023 FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q1 2026 Net external revenue 5,548 6,880 6,212 6,618 2,005 2,277 2,296 2,315 8,893 2,410 Direct costs -4,406 -5,434 -4,826 -5,171 -1,551 -1,757 -1,785 -1,797 -6,890 -1,890 Gross pro
Slide 29: Growth components per quarter
Growth components per quarter Q1 2026 growth Net revenue Gross profit Adjusted EBIT components Total Total Total Organic Acquisitions FX Organic Acquisitions FX Organic Acquisitions FX growth growth growth Road & Logistics 10.1% 9.7% 0.4% 20.2% 2.6% 11.5% 0.4% 14.5% 2.0% 26.0% 1.0% 29.0% Air & Ocean
Slide 30: Investor Relations
Investor Relations Investor Relations Contact Financial Calendar 2026 Sebastian Rosborg Head of Investor Relations 5. May 2026 Q1 2026 Interim Report +45 4212 8099 sebastian.rosborg@ntg.com ir@ntg.com | press@ntg.com 10. August 2026 H1 2026 Interim Report Noah Cilieborg IR Student Assistant 9. Novem
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