Interim Report H1 2019
26.7% revenue growth fuelled by organic growth, including four new start-ups, and
The Board of Directors of Nordic Transport Group A/S (NTG) have approved the
interim report for the first six months of 2019, which showed continued growth
driven by strong organic growth, including establishment of four new start-ups as
well as the acquisition of UK-based DAP (UK) Ltd., Japanese-based TAK International
Ltd. and German-based Nellen & Quack Gronau.
Mikkel Fruergaard, CEO Air & Ocean said:
“I am pleased that we continue our high growth in the first half of 2019. We
managed to further develop and strengthen our business with the establishment of
start-ups in Turkey, Romania, Vietnam and Croatia. In addition, we made three
acquisitions in important markets, like UK, Japan and Germany. We are not only
growing in terms of revenue and geographies, we are also serving bigger and more
international customers, requiring end-to-end transport solutions, which fits well
with our ambition of being the preferred and trusted transport and logistics partner.”
Revenue increased 26.7% to DKK 2.6 billion (DKK 2.1 billion), driven by organic
growth of 7.7% and 19.0% M&A fuelled growth. In the Road & Logistics division,
revenue increased 19.1% to DKK 2.0 billion (DKK 2.5 billion), while revenue in the Air
& Ocean division rose 64.8% to DKK 564 million (DKK 343 million).
Gross profit increased by 36.7% to DKK 525 million (DKK 384 million), while operating
profit (EBIT before special items) increased 11.1% to DKK 97 million (DKK 87 million).
The EBIT margin (before special items) was 3.7% (4.3%), impacted by last year’s
acquisition of Swiss-based Gondrand Group and implementation of IFRS 16.
For the full year, NTG expects net revenue in the range DKK 5.0-5.5 billion and EBIT
before special items between DKK 200-215 million, assuming a stable macroeconomic environment.