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NTG Nordic Transport Group (NTG) investor relations material
NTG Nordic Transport Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary11 Nov, 2025
Executive summary
Gross profit rose 44.1% year-over-year in Q3 2025, driven by organic growth and acquisitions in both divisions, despite challenging market conditions.
Adjusted EBIT increased 40.4% to DKK 160 million, mainly due to the DTK acquisition and strong performance in Denmark, Sweden, the Netherlands, Baltics, and Switzerland.
Net revenue grew 28.1% to DKK 2,941 million, with acquired growth of 30.1% and negative organic growth of 1.2%.
Integration of DTK nearly complete, with minor synergies expected by year-end.
Full-year 2025 adjusted EBIT guidance narrowed to DKK 560–590 million, reflecting muted development and market conditions.
Financial highlights
Q3 2025 net revenue: DKK 2,941 million (up 28.1% year-over-year); gross profit: DKK 657 million (up 44.1%).
Q3 2025 adjusted EBIT: DKK 160 million (up 40.4%); operating margin: 5.4% (up 0.4 p.p.).
Adjusted free cash flow was DKK 1 million, impacted by net working capital seasonality.
Net interest-bearing debt (excl. IFRS 16): DKK 1,237 million as of 30 September 2025; leverage ratio increased to 2.8x.
Return on invested capital before tax declined to 18% from 25.5% last year; return on equity at 18.1% for Q3 2025.
Outlook and guidance
Full-year 2025 adjusted EBIT guidance narrowed to DKK 560–590 million, reflecting a cautious Q4 outlook and soft macro conditions.
Market environment expected to remain soft for the rest of 2025, with subdued demand and macroeconomic uncertainty.
Some stabilization in European road market observed, with potential rate increases in Q4 2025 and Q1 2026.
Air & Ocean outlook remains cautious due to US tariffs and ongoing market disruption.
Outlook subject to economic and business conditions in key markets.
What are the key drivers of increased net debt and leverage?
Evaluate profitability of recent German acquisitions
Air & Ocean: Strategy to restore high-margin EBIT
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Next NTG Nordic Transport Group earnings date
Q4 20255 Mar, 2026
Next NTG Nordic Transport Group earnings date
Q4 20255 Mar, 2026
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Frequently asked questions
NTG Nordic Transport Group provides asset-light freight forwarding services. It provides transportation of goods by road and rail, warehousing and storage of goods, distribution services, customs agency services, and other value added logistics services. The company serves various industries, including chemicals, foodstuffs, industrial products, consumer products, furniture, construction materials, electronics and electrical equipment. NTG Nordic Transport Group was founded in 2011 and is based in Hvidovre, Denmark.
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