Update on current trading for Q3 2020 and updated full-year outlook for 2020

Company announcement no. 41 – 20

22 October 2020

Update on current trading for Q3 2020 and updated full-year outlook for 2020

Subject to completion and review of the interim Q3 report, NTG Nordic Transport Group A/S (“NTG”) expects revenue above DKK 1,250 million for the third quarter of 2020 and above DKK 3,800 million for the first nine months of 2020. EBIT before special items is expected around DKK 75 million for the third quarter of 2020 and around DKK 175 million for the first nine months of 2020. The results for the third quarter of 2020 were mainly driven by strong performance in the Road & Logistics division that benefitted from a faster than anticipated normalisation in demand and a favourable development in direct costs. In addition, the successful turn-around of certain underperforming entities had a positive impact on EBIT before special items for the quarter.

Update of full-year outlook for 2020

Based on the expected result in the third quarter, the current momentum in the Road & Logistics division, and the expectations for the remaining part of 2020, NTG revises the full-year outlook for 2020. Our expectations on revenue remain unchanged (DKK 5,000 – 5,400 million), while EBIT before special items is expected in the range of DKK 240 - 260 million (previously DKK 200 - 230 million) for the full-year 2020. 

Due to the dynamic and unpredictable COVID-19 situation, uncertainty remains elevated and the assumptions underlying the updated full-year outlook are more uncertain than usual. The guidance is based on an assumption of unchanged market conditions in the fourth quarter of 2020 and no new material adverse events affecting regional and global cargo volumes and trade patterns.

NTG is currently in a quiet period and no additional details will be provided before release of the Q3 2020 interim report on 18 November 2020.

Additional information

For additional information, please contact:

Investor relations

Christian D. Jakobsen, Group CFO                                    

                                                                                               

Press

Mathias Jensen-Vinstrup, Group Director                       

                                                                                               

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