GlobeNewswire by notified

NTG Nordic Transport Group Annual Report for 2022


Company announcement no. 5 – 23
8 March 2023

NTG Nordic Transport Group Annual Report for 2022

NTG Nordic Transport Group A/S (“NTG”) has today published the 2022 annual report. Selected financial highlights are presented below:

Full yearQ4
(DKKm)2022 202120222021
Net revenue 10,224 7,302 2,496 2,172
Gross profit 2,012 1,474 518 443
Operating profit before special items (adj. EBIT) 758 542 173 161
Profit for the year 535 385
Earnings per share (DKK) 21.77 15.64
Gross margin 19.7% 20.2% 20.8% 20.4%
Operating margin 7.4% 7.4% 6.9% 7.4%
Conversion ratio 37.7% 36.8% 33.4% 36.3%
ROIC before tax 46.0% 50.9%

“2022 proved to be another successful year for NTG, and I am proud that our employees navigated change and overcame numerous challenges in close collaboration with our customers. In 2022, we achieved an adjusted EBIT growth of 39.9%, delivering on our guidance for the year. The adjusted free cash flow increased 147.9% compared to 2021, enabling us to pursue new investment opportunities in 2023. In 2022, we also continued to assume responsibility for NTG’s environmental footprint, and in 2023, we will commit to reducing our carbon emissions by defining emission reduction targets for validation by the Science Based Targets initiative”, says Michael Larsen, Group CEO.

Q4 2022 results
Net revenue totalled DKK 2,496 million in Q4 2022, compared to DKK 2,172 million in Q4 2021, corresponding to an increase of 14.9%. Total growth was composed of 17.4% acquired growth and FX effects of negative 2.5%. Organic growth was 0.0% for the period, due to declining freight rates and reduced activity compared to the first three quarters of 2022.

Gross profit increased 16.9% to DKK 518 million in Q4 2022, compared to DKK 443 million in Q4 2021, corresponding to a gross margin of 20.8% and 20.4%, respectively. The margin development was driven by a gross margin decrease of 0.5 percentage points within the Road & Logistics division, compared to Q4 2021, due to reduced activity and declining spot rates. In the Air & Ocean division, the normalisation of freight rates resulted in a gross margin improvement of 3.1 percentage points compared to the same period last year.

Operating profit before special items increased 7.5% to DKK 173 million in Q4 2022, compared to DKK 161 million in Q4 2021, corresponding to an operating margin of 6.9% and 7.4%, respectively. The margin development was driven by an operating margin decline of 0.1 and 0.7 percentage points in the Road & Logistics and Air & Ocean division, respectively, due to the challenging market conditions in the fourth quarter of the year and merger restructuring activities following the acquisition of AGL.

Outlook for 2023
For the full year 2023, NTG expects:

  • EBIT before special items of DKK 620-700 million.

The outlook assumes a weakening macroeconomic environment with continued destocking and muted consumer confidence in the first half of 2023, followed by a gradual rebound in activity during the second half of the year.

The Road & Logistics division is assumed to experience a low single-digit decline in volumes in 2023 compared to 2022. The assumption is based on expectations of moderate adverse developments in transport activity and changing market dynamics driving increasing repositioning cost on certain corridors, partially offset by reduced capacity shortages and normalised spot rates.

The Air & Ocean division is assumed to experience a single-digit decline in volumes in 2023 compared to 2022, with freight rates and yields continuing to decline. The assumption is based on expectations of reduced transport activity resulting from continued inventory depletion and soft consumer confidence.

The outlook for 2023 includes the full-year effects of the acquisitions of Aries Global Logistics, Kontinent Transport, and Solida Logistik. The outlook does not include potential impact from acquisitions during 2023, if any.

The outlook further assumes currency exchange rates at current levels.

Uncertainty remains high and the assumptions underlying the outlook may change.

For 2023, no guidance will be provided on net revenue. This is driven by a combination of freight rate volatility and limited visibility impeding predictability of pass-through revenue effects. Whether revenue guidance will be resumed will be assessed in the wake of any market stabilisation.

Medium-term financial target
Our medium-term target, introduced in 2022, remains unchanged, and we strive to achieve DKK 1 billion in adjusted EBIT no later than by the end of 2027, based on a combination of organic growth and M&A.

We expect to realise the target through redeployment of free cash flow, and by utilising existing credit facilities of the Group, subject to a ratio of net-interest bearing debt to EBITDA of less than 3.0 and no capital increases.

The medium-term target is based on the key assumptions of no additional material adverse events affecting regional and global cargo volumes and trade patterns. The medium-term target further assumes that NTG continues to develop the business, establish start-ups, and execute the M&A agenda.

No dividend is proposed for 2022.

Share buy-back program
A new share buy-back program of DKK 75 million is announced today in a separate company announcement. The program will run from 9 March 2023 to 5 May 2023 at the latest, both days inclusive.

FY 2022 conference call
In connection with publication of the full year financial results for 2022, a conference call will be hosted on 9 March 2023 at 10:00 AM CET. The conference call will be held in English and can be followed live via NTG’s website;

Additional information

For additional information, please contact:

Investor relations:
Christian D. Jakobsen, Group CFO                                    

+45 42 12 80 99
Camilla Marcher Lydom, Investor Relations & Corporate Communication Manager

+45 42 12 80 90


NTG Annual Report 2022


To view this piece of content from, please give your consent at the top of this page.
To view this piece of content from, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Storaktionærmeddelelse25.3.2023 14:30:37 CET | pressemeddelelse

Årets meddelelse nr. 20 Dato: 25. marts 2023 Storaktionærmeddelelse Det skal herved meddeles, at Pharma Equity Group A/S har modtaget meddelelse om at NK Invest ApS ejerandel, både direkte og indirekte via dennes ejerskab af Selskabet af 25. marts DK ApS og Selskabet af 25. marts II ApS, efter kapitalforhøjelse offentliggjort under selskabsmeddelelse nr. 16 af 24. marts 2023, udgør mindre end 5 % af den udstedte aktiekapital i Pharma Equity Group A/S. Alle henvendelser vedrørende ovenstående bedes venligst rettet til direktør Peter Ole Jensen på e-mail: Med venlig hilsen Pharma Equity Group A/S På bestyrelsens vegne

FCB Tops 2023 WARC Rankings for Creative Effectiveness24.3.2023 21:41:59 CET | Press release

FCB awarded #1 Creative Agency & #1 Campaign for Effectiveness in WARC Effective 100 NEW YORK, March 24, 2023 (GLOBE NEWSWIRE) -- FCB was a top performer in the 2023 WARC Rankings, earning recognition as the #1 Creative Agency for Effectiveness in the WARC Effective 100, among other distinctions. Numerous FCB campaigns were honored as well, including Michelob ULTRA’s “Contract for Change,” which ranked as the #1 Campaign for Effectiveness. “Creative is the business and the business is creative. To separate the two does a disservice to the industry. We will continue to partner with our clients to create work that is both effective in the moment and impactful long term. FCB is honored that this Timely and Timeless approach to work is being recognized by WARC,” said Susan Credle, FCB Global Chair & Global CCO. In the Effective 100, FCB New York was named the #1 Creative Agency for Effectiveness, joined by two additional FCB agencies, with FCB Chicago ranking #4 and FCB Toronto ranking #7,

Ordinary and Extraordinary General Meeting of April 12, 202324.3.2023 21:30:00 CET | Press release

Montrouge, France, March 24, 2023 Ordinary and Extraordinary General Meeting of April 12, 2023 Procedures for Obtaining Information and Preparatory Documents for the General Meeting DBV Technologies (Euronext: DBV – ISIN: FR0010417345 – Nasdaq Stock Market: DBVT), a clinical-stage biopharmaceutical company, will hold its Ordinary and Extraordinary General Meeting (the “General Meeting”) on April 12, 2023, at 10:00 a.m. CET at the Company’s headquarters located at 177-181 Avenue Pierre Brossolette – 92120 Montrouge, France. The preliminary notice (avis de réunion) containing the detailed agenda, draft resolutions as well as instructions to participate and vote for this General Meeting was published in the French “Bulletin des AnnoncesLégalesObligatoires (BALO)” dated March 8, 2023 (No. 2300429). The meeting notice (avis de convocation) was published in the French “Bulletin des AnnoncesLégalesObligatoires (BALO)” dated March 24, 2023 (No. 2300600) and in the legal newspaper Affiches pari

TGS: Approval of 2022 Financial Result24.3.2023 20:03:58 CET | Press release

Oslo, Norway (24 March 2023) – The Board of Directors of TGS ASA has today approved the financial statements for 2022. The financial statements were prepared in accordance with IFRS. Please see the attachment for a summary of changes from the preliminary annual accounts announced on 9 February 2023. About TGS TGS provides scientific data and intelligence to companies active in the energy sector. In addition to a global, extensive and diverse energy data library, TGS offers specialized services such as advanced processing and analytics alongside cloud-based data applications and solutions. For more information, visit ( or contact: Sven Børre Larsen CFO Tel: +47 90 94 36 73 E-mail: Attachment TGS Annual Accounts 2022 update

Nokia Corporation: Repurchase of own shares on 24.03.202324.3.2023 20:00:00 CET | Press release

Nokia Corporation Stock Exchange Release 24 March 2023 at 21:00 EET Nokia Corporation: Repurchase of own shares on 24.03.2023 Espoo, Finland – On 24 March 2023 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows: Trading venue (MIC Code)Number of sharesWeighted average price / share, EUR*XHEL306,0764.31CEUX7,3924.31AQEU2,6084.31TQEX6,3244.32Total322,4004.31 * Rounded to two decimals On 3 February 2022, Nokia announced that its Board of Directors is initiating a share buyback program under the authorization granted by Nokia’s Annual General Meeting on 8 April 2021 to return up to EUR 600 million of cash to shareholders in tranches over a period of two years. The second phase of the share buyback program in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 5 April 2022 started on 2 January 2023 and