Q2 2025 NTG Nordic Transport Group AS Earnings Call Transcript
Key Points
- NTG Nordic Transport Group AS (FRA:NRSA) completed the acquisition of DTK, which has been integrated ahead of schedule, contributing positively to the company's performance.
- Adjusted EBIT increased by 11.5% year-over-year, excluding a one-off earn-out settlement, indicating strong underlying business performance.
- Revenue grew by 24% compared to Q2 last year, driven by acquisitions and slightly higher freight rates in selected road markets.
- Gross profit increased by 39.2% to DKK661 million, with an improved gross margin of 23.1%, supported by lower average ocean freight rates and higher margins from acquisitions.
- The company successfully integrated smaller bolt-on acquisitions in the UK, which performed in line with expectations.
- The European road market remains soft, particularly on the continent, with weak demand impacting performance.
- Organic growth was negative at 1.8%, primarily due to lower average freight rates in ocean freight.
- The Air & Ocean division saw a decline in net revenue, driven by a 17% drop in organic growth and challenging market conditions.
- The integration of German acquisitions, SCHMALZ+SCHÖN and ITC, is taking longer than anticipated, with ITC experiencing significant underperformance.
- The company's net financials increased due to FX impacts, and the tax rate is expected to be higher due to underperformance and special items.
Thank you, and welcome, everybody, to our Q2 2025 conference call, and thank you for dialing in. My name is Mathias Jensen-Vinstrup, and I'm the Group CEO of NTG. And together with me today, I have Christian Jakobsen, our Group CFO. We move on to the next page. We kindly ask you to read the forward-looking statements provided in the slide.
And moving on, you see the agenda for the conference call today. And we'll spend the next 20, 30 minutes taking you through our highlights for the second quarter of 2025, an update on the recent acquisitions, and then a review of the financial performance of the group, followed by the two divisions, a presentation of other key figures, the outlook for the rest of the year. And finally, we will open the line for Q&A. Move on to the next slide, you see the Q2 2025 highlights. But before we get started with the numbers, I want to highlight the acquisition of DTK, which we completed on the 7th of May.
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