Company announcement no. 1 – 26
4 March 2026

NTG Nordic Transport Group A/S – Update on medium-term ambition

In 2022, NTG introduced a medium‑term ambition to achieve adjusted EBIT of DKK 1,000 million by the end of 2027. This ambition reflected the strong earnings momentum following the pandemic, supported by favourable market conditions and elevated activity levels across large parts of the transport and logistics industry at the time. The ambition was underpinned by a combination of continued organic development and the successful execution of value‑accretive M&A, which has historically been a key driver of the NTG Group’s growth and value creation.

Since then, market dynamics and structural conditions in the transport and logistics industry have changed. Macroeconomic volatility, shifting trade patterns and more uneven demand conditions have reduced overall visibility, while medium‑term performance has become increasingly dependent on the availability, timing and terms of attractive M&A opportunities rather than purely organic market development.

Given the inherent uncertainty surrounding such opportunities and their potential timing, it is no longer considered meaningful to maintain or update guidance on medium‑term ambitions. Accordingly, financial guidance will be provided on an annual basis going forward.

Our capital structure targets, including financial gearing, equity ratio and dividend policy, remain unchanged. For 2026, our focus remains on delivering on the Route ’27 strategy, reengaging in M&A activities subject to attractive opportunities being identified, and delivering on our full-year guidance.

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