NTG Nordic Transport Group Annual Report for 2023

Company announcement no. 2 – 24
29 February 2024

NTG Nordic Transport Group Annual Report for 2023

NTG Nordic Transport Group A/S (“NTG”) has today published the 2023 annual report. Selected financial highlights are presented below:

		Full year			Q4
(DKKm)		2023	2022		2023	2022
Net revenue		8,338	10,224		2,001	2,496
Gross profit		1,866	2,012		463	518
Operating profit before special items (adj. EBIT)		630	758		171	173
Profit for the year		407	535
Earnings per share (DKK)		17.40	21.77
Gross margin		22.4%	19.7%		23.1%	20.8%
Operating margin		7.6%	7.4%		8.5%	6.9%
Conversion ratio		33.8%	37.7%		36.9%	33.4%
ROIC before tax		32.0%	46.0%

“The performance in 2023 was affected by the macroeconomic slowdown causing changing dynamics for both divisions. For 2023, we realised an adjusted EBIT of DKK 630 million which was in line with our guidance provided on 3 August 2023. Our scalable business model reconfirmed our ability to adjust and adapt to the adverse environment, and thanks to our flexible organisation in cooperation with customers and business partners, we managed to adapt to changing market conditions. Despite uncertainties dampening the acquisition activity in 2023, we remain committed to actively pursuing M&A opportunities in 2024 aligned with our strategic priorities”, says Michael Larsen, Group CEO.