Completion of the acquisition of LGT Group AB and update on full-year outlook for 2021
Company announcement no. 21 – 21
1 September 2021
Completion of the acquisition of LGT Group AB and update on full-year outlook for 2021
Following regulatory clearances by the relevant competition authorities, NTG Nordic Transport Group A/S (“NTG”) has completed the acquisition of 100% of the shares in the furniture logistics specialist LGT Group AB (“LGT Group”). The main transaction details were described in Company Announcement No. 18 – 21 dated 16 July 2021.
LGT Group will be included in the consolidated financial statements of NTG as of 1 September 2021. The acquisition is expected to contribute with approximately DKK 200 million in revenue and approximately DKK 15 million in adj. EBIT for the remaining four months of the year.
Update on full-year outlook for 2021
Financial performance so far in Q3 2021 has exceeded expectations, primarily driven by continued high activity and a better-than-expected ability to safeguard capacity despite increasing capacity shortages in both divisions.
Based on the expected financial impact from the acquisition of LGT Group and the improved financial outlook for both divisions, NTG raises its full-year expectations for 2021 as follows:
- Revenue of approximately DKK 6,700 - 7,000 million (previously DKK 6,300 - 6,700 million).
- Adj. EBIT of approximately DKK 490 - 520 million (previously DKK 450 - 490 million).
The updated full-year outlook for 2021 assumes that the prevailing market conditions and activity levels will not develop adversely while capacity shortages are expected to deteriorate slightly for the remainder of 2021.
Additional information
For additional information, please contact:
| Investor relations: Christian D. Jakobsen, Group CFO | +45 42 12 80 99 [email protected] |
| Press: Mathias Jensen-Vinstrup, Executive Vice President | +45 42 12 80 90 [email protected] |
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