NTG Nordic Transport Group AS
F:NRSA
NTG Nordic Transport Group AS
NTG Nordic Transport Group A/S is an international forwarding and logistics provider for road freight, sea freight, air freight and contract logistics. The firm operates through two segments: Road & Logistics and Air & Ocean. The Road & Logistics segment provides logistics and road transportation services in Europe and operates mainly in the Nordics. The Air & Ocean segment covers the related transportation services globally.
NTG Nordic Transport Group A/S is an international forwarding and logistics provider for road freight, sea freight, air freight and contract logistics. The firm operates through two segments: Road & Logistics and Air & Ocean. The Road & Logistics segment provides logistics and road transportation services in Europe and operates mainly in the Nordics. The Air & Ocean segment covers the related transportation services globally.
Strong Profit Growth: Both divisions delivered double-digit gross profit growth in Q3, with adjusted EBIT up 40% year-on-year, mainly from organic strength in Denmark and Sweden and recent acquisitions.
Revenue Surge: Net revenue rose 28% to DKK 2.941 billion, driven primarily by acquisitions (30%), while organic growth was slightly negative at -1.2%.
Margin Improvement: Gross margin improved by 2.4 percentage points to 22.3%, benefiting from lower ocean freight rates and higher groupage and warehousing from German acquisitions.
Guidance Narrowed: Full-year 2025 EBIT guidance was tightened to DKK 560–590 million, reflecting a cautious outlook for Q4 and an expectation of continued muted market conditions.
German Challenges: The German market remains soft, particularly affecting recent acquisitions Schmalz+Schön and ITC, with ongoing restructuring and recovery efforts highlighted.
Q3 Cash Flow & Debt: Adjusted free cash flow was DKK 1 million, and net debt increased to DKK 1.2 billion due to acquisitions.
Price Increases Ahead: Management expects selective price increases in Q4 2025 and Q1 2026, especially in Denmark, Sweden, and some parts of Germany, mainly to secure haulier capacity.
TMS & AI Initiatives: The pilot for a new transport management system (TMS) has launched, with broader rollout in 2026, and AI projects are underway to boost productivity.
