Assets
| Type | Time | Amount | Unit |
|---|---|---|---|
| ifrs-full:Assets | 2020-12-31 | 2328200000 | vDKK |
| ifrs-full:Assets | 2019-12-31 | 2029700000 | vDKK |
Revenue
| Type | Start date | End date | Amount | Unit |
|---|---|---|---|---|
| ifrs-full:Revenue | 2020-01-01 | 2020-12-31 | 5332200000 | vDKK |
| ifrs-full:Revenue | 2019-01-01 | 2019-12-31 | 5332000000 | vDKK |
XML
See the xml submitted here:
XML: http://regnskaber.virk.dk/60164521/amNsb3VkczovLzAzL2JjL2I3LzJlL2M3L2IxZjgtNGQ4My1iNmVjLTE2YTJlNmJiM2FjMA.xml
Separator
The full data:
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<arr:IndependentAuditorsReportsAudit contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Independent Auditorâs Report</td></tr></table></arr:IndependentAuditorsReportsAudit>
<arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">To the shareholders of NTG Nordic Transport Group A/S</td></tr></table></arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements>
<arr:OpinionOnAuditedFinancialStatements contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Our opinion</td></tr><tr><td colspan="1">In our opinion, the Consolidated Financial Statements give a true and fair view of the Groupâs financial position at 31 Decem- ber 2020 and of the results of the Groupâs operations and cash flows for the financial year 1 January to 31 December 2020 in accordance with International Financial Reporting Standards as adopted by the EU and further requirements in the Danish Financial Statements Act.</td></tr><tr><td colspan="1">Moreover, in our opinion, the Parent Company Financial State- ments give a true and fair view of the Parent Companyâs finan- cial position at 31 December 2020 and of the results of the Parent Companyâs operations for the financial year 1 January to 31 December 2020 in accordance with the Danish Financial Statements Act.</td></tr><tr><td colspan="1">Our opinion is consistent with our Auditorâs Long-form Report to the Audit Committee and the Board of Directors.</td></tr><tr><td colspan="1">What we have audited</td></tr><tr><td colspan="1">The Consolidated Financial Statements of NTG Nordic Trans- port Group A/S for the financial year 1 January to 31 Decem- ber 2020 comprise the consolidated income statement and statement of comprehensive income, the consolidated balance sheet, the consolidated statement of changes in equity, the consolidated cash flow statement and the notes, including summary of significant accounting policies.</td></tr><tr><td colspan="1">The Parent Company Financial Statements of NTG Nordic Transport Group A/S for the financial year 1 January to 31 December 2020 comprise the income statement, the balance sheet, the statement of changes in equity and the notes, includ- ing summary of significant accounting policies.</td></tr><tr><td colspan="1">Collectively referred to as the âFinancial Statementsâ.</td></tr></table></arr:OpinionOnAuditedFinancialStatements>
<arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Basis for opinion</td></tr><tr><td colspan="1">We conducted our audit in accordance with International Stan- dards on Auditing (ISAs) and the additional requirements applica- ble in Denmark. Our responsibilities under those standards and requirements are further described in the Auditorâs responsibilities for the audit of the Financial Statements section of our report.</td></tr><tr><td colspan="1">We believe that the audit evidence we have obtained is suffi- cient and appropriate to provide a basis for our opinion.</td></tr><tr><td colspan="1">Independence</td></tr><tr><td colspan="1">We are independent of the Group in accordance with the Inter- national Ethics Standards Board for Accountantsâ Code of Ethics for Professional Accountants (IESBA Code) and the additional requirements applicable in Denmark. We have also fulfilled our other ethical responsibilities in accordance with the IESBA Code.</td></tr><tr><td colspan="1">To the best of our knowledge and belief, prohibited non-au- dit services referred to in Article 5(1) of Regulation (EU) No 537/2014 were not provided.</td></tr><tr><td colspan="1">Appointment</td></tr><tr><td colspan="1">Following the admission of shares of NTG Nordic Transport Group A/S for the listing on Nasdaq Copenhagen, we were first appointed auditors of NTG Nordic Transport Group A/S on 16 April 2020. We have been reappointed annually by shareholder resolution for a total period of uninterrupted engagement of 1 year, including the financial year 2020.</td></tr></table></arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
<arr:KeyAuditMattersAudit contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Key audit matters</td></tr><tr><td colspan="1">Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the Finan- cial Statements for 2020. These matters were addressed in the context of our audit of the Financial Statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.</td></tr><tr><td colspan="1">Revenue recognition and accrued cost of services</td></tr><tr><td colspan="1">The Groupâs revenue consists primarily of services, i.e. transportation of goods between destinations, which by nature is rendered over a period of time. The determination of timing of revenue recognition is dependent on the application of the Groupâs accounting policies and terms in customer contracts.</td></tr><tr><td colspan="1">We focused on this area because the process of accruing for services rendered around the balance sheet date (accrued cost of services) is complex and dependent on Mana- gement accounting estimates and relevant controls in certain operational systems.</td></tr><tr><td colspan="1">Reference is made to notes 2.2 and 2.3 to the Consolidated Financial Statements.</td></tr><tr><td colspan="1">How our audit addressed</td></tr><tr><td colspan="1">Our audit procedures included assessing the accounting policies for revenue recognition applied by Management.</td></tr><tr><td colspan="1">We tested relevant internal controls, including IT controls, concerning the timing of revenue recognition and evaluated whether these were designed in line with the Groupâs accounting policies and were operating effectively.</td></tr><tr><td colspan="1">We selected a sample of revenue transactions during the year and traced these to underlying evidence. In addition, we used data auditing tools to identify non-stan- dard transactions and examined these.</td></tr><tr><td colspan="1">For revenue, we examined reports concerning services in progress and challenged the estimates made by Management in this regard. For accrued cost estimates in prior periods, we performed look back procedures to evaluate the precision in the estimates of accrued costs.</td></tr><tr><td colspan="1">Business combinations</td></tr><tr><td colspan="1">In 2020, Ebrex Group was acquired with accounting effect as at 28 February 2020. Management prepared a purchase price allocation for the acquisition, resul- ting in assets and liabilities being separately recognized and valued in the opening balance sheet.</td></tr><tr><td colspan="1">We focused on this area as identification and measurement of assets and liabilities related to the business acquisitions are based on significant accounting estimates made by Management.</td></tr><tr><td colspan="1">Reference is made to note 7.1 to the Consolidated Financial Statements.</td></tr><tr><td colspan="1">How our audit addressed</td></tr><tr><td colspan="1">Our audit procedures included assessing the accounting policies applied by Management.</td></tr><tr><td colspan="1">We verified the assets and liabilities recognised in the opening balance sheet, including the completeness thereof, by performing audit procedures in relation to the opening balance sheet.</td></tr><tr><td colspan="1">We assessed the method used by Management to identify and measure assets and liabilities, and we challenged the assumptions applied, using our knowledge and professional scepticism.</td></tr><tr><td colspan="1">Finally, we assessed the adequacy of disclosures relating to the business acquisitions.</td></tr></table></arr:KeyAuditMattersAudit>
<arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Statement on Managementâs Review</td></tr><tr><td colspan="1">Management is responsible for Managementâs Review.</td></tr><tr><td colspan="1">Our opinion on the Financial Statements does not cover Man- agementâs Review, and we do not express any form of assur- ance conclusion thereon.</td></tr><tr><td colspan="1">In connection with our audit of the Financial Statements, our responsibility is to read Managementâs Review and, in doing so, consider whether Managementâs Review is materially inconsis- tent with the Financial Statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated.</td></tr><tr><td colspan="1">Moreover, we considered whether Managementâs Review includes the disclosures required by the Danish Financial Statements Act.</td></tr><tr><td colspan="1">Based on the work we have performed, in our view, Manage- mentâs Review is in accordance with the Consolidated Financial Statements and the Parent Company Financial Statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement in Managementâs Review.</td></tr></table></arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements>
<arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Managementâs responsibilities for the Financial Statements</td></tr><tr><td colspan="1">Management is responsible for the preparation of consoli- dated financial statements that give a true and fair view in accordance with International Financial Reporting Standards as adopted by the EU and further requirements in the Danish</td></tr><tr><td colspan="1">Financial Statements Act, and for the presentation of parent company financial statements that give a true and fair view in accordance with the Danish Financial Statements Act, and for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.</td></tr><tr><td colspan="1">In preparing the Financial Statements, Management is re- sponsible for assessing the Groupâs and the Parent Companyâs ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless Management either intends to liqui- date the Group or the Parent Company or to cease operations, or has no realistic alternative but to do so.</td></tr></table></arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
<arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Auditorâs responsibilities for the audit of the Financial Statements</td></tr><tr><td colspan="1">Our objectives are to obtain reasonable assurance about whether the Financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorâs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the addi- tional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Financial Statements.</td></tr><tr><td colspan="1">As part of an audit in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also</td></tr><tr><td colspan="1">â¢Â    Identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk</td></tr><tr><td colspan="1">of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, mis- representations, or the override of internal control.</td></tr><tr><td colspan="1">â¢Â    Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are ap- propriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Groupâs and the Parent Companyâs internal control.</td></tr><tr><td colspan="1">â¢Â    Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and relat- ed disclosures made by Management.</td></tr><tr><td colspan="1">â¢Â    Conclude on the appropriateness of Managementâs use of the going concern basis of accounting and based on the audit evidence obtained, whether a material uncer- tainty exists related to events or conditions that may cast significant doubt on the Groupâs and the Parent Companyâs ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditorâs report to the related disclosures in the Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditorâs report. However, future events or conditions may cause the Group or the Parent Company to cease to continue as a going concern.</td></tr><tr><td colspan="1">â¢Â    Evaluate the overall presentation, structure and content of the Financial Statements, including the disclosures, and whether the Financial Statements represent the underly- ing transactions and events in a manner that achieves fair presentation.</td></tr><tr><td colspan="1">â¢Â    Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the Consoli- dated Financial Statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.</td></tr><tr><td colspan="1">We communicate with those charged with governance regard- ing, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant de- ficiencies in internal control that we identify during our audit.</td></tr><tr><td colspan="1">We also provide those charged with governance with a state- ment that we have complied with relevant ethical requirements regarding independence, and to communicate with them all re- lationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.</td></tr><tr><td colspan="1">From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the Financial Statements of the current period and are therefore the key audit matters. We describe these matters in our auditorâs report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.</td></tr></table></arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed>
<arr:SignatureOfAuditorsPlace contextRef="ctx1" xml:lang="da">Hellerup</arr:SignatureOfAuditorsPlace>
<arr:SignatureOfAuditorsDate contextRef="ctx1">2021-03-11</arr:SignatureOfAuditorsDate>
<sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Statement of the Board of Directors and the Executive Board</td></tr></table></sob:StatementByExecutiveAndSupervisoryBoards>
<sob:IdentificationOfApprovedAnnualReport contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">The Board of Directors and the Executive Board have considered and adopted the Annual Report of Nordic Transport Group A/S for the financial year 1 January â 31 December 2020.</td></tr></table></sob:IdentificationOfApprovedAnnualReport>
<sob:ConfirmationThatAnnualReportIsPresentedInAccordanceWithRequirementsProvidedForByLegislationAnyStandardsAndRequirementsProvidedByArticlesOfAssociationOrByAgreement contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">The Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards as adopted by the EU and further requirements in the Danish Financial Statements Act, and the Parent Company Financial Statements have been prepared in accordance with the Danish Financial Statements Act. Managementâs Review has been pre- pared in accordance with the Danish Financial Statements Act.</td></tr></table></sob:ConfirmationThatAnnualReportIsPresentedInAccordanceWithRequirementsProvidedForByLegislationAnyStandardsAndRequirementsProvidedByArticlesOfAssociationOrByAgreement>
<sob:ConfirmationThatFinancialStatementGivesTrueAndFairViewOfAssetsLiabilitiesEquityFinancialPositionAndResults contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">In our opinion, the Consolidated Financial Statements and the Parent Company Financial Statements give a true and fair view of the financial position at 31 December 2020 of the Group and the Parent Company and of the results of the Group and Parent Company operations and consolidated cash flows for the financial year 1 January - 31 December 2020.</td></tr></table></sob:ConfirmationThatFinancialStatementGivesTrueAndFairViewOfAssetsLiabilitiesEquityFinancialPositionAndResults>
<sob:ManagementsStatementAboutManagementsReview contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">In our opinion, Managementâs Review includes a true and fair account of the development in the operations and financial circumstances of the Group and the Parent Company, of the results for the year and of the financial position of the Group and the Parent Company.</td></tr></table></sob:ManagementsStatementAboutManagementsReview>
<sob:RecommendationForApprovalOfAnnualReportByGeneralMeeting contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">We recommend that the Annual Report be adopted at the Annual General Meeting.</td></tr></table></sob:RecommendationForApprovalOfAnnualReportByGeneralMeeting>
<sob:PlaceOfSignatureOfStatement contextRef="ctx1" xml:lang="da">Hvidovre</sob:PlaceOfSignatureOfStatement>
<sob:DateOfApprovalOfAnnualReport contextRef="ctx1">2021-03-11</sob:DateOfApprovalOfAnnualReport>
<mrv:LinkToCorporateGovernanceReport contextRef="ctx1">investor.ntg.com.</mrv:LinkToCorporateGovernanceReport>
<mrv:CorporateGovernanceReport contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Corporate governance</td></tr><tr><td colspan="1">Governance structure</td></tr><tr><td colspan="1">NTG has a two-tier governance structure comprised by the Board of Directors and the Executive Management. Ultimate governing authority rests with the General Meeting.</td></tr><tr><td colspan="1">In terms of internal organization, NTG Group Management com- prises Executive Management, division CEOs and Executive Vice President. Executive Management is the Group CEO and the Group CFO, as registered with the Danish Business Authority.</td></tr><tr><td colspan="1">The Board of Directors is responsible for overall strategic management and proper organization of the Groupâs activities as well as the Groupâs financial and material matters. The Board has established an audit, a remuneration and a nomination committee focusing on preparatory tasks within the Board of Directorsâ areas of responsibility.</td></tr><tr><td colspan="1">NTGâs registered Executive Management is responsible for NTGâs day-to-day management and is in charge of ensuring that the Company and its operations are compliant with applicable</td></tr><tr><td colspan="1">legislation and the Board of Directorsâ guidelines and instructions, including implementation of the strategy set by the Board of Directors and provide information on NTGâs operations to the Board of Directors.</td></tr><tr><td colspan="1">The further allocation of responsibilities between the Board of Directors and the Executive Management is set out in the Rules of Procedure of the Board of Directors and in a set of Manage- ment Instructions issued to the Executive Management by the Board of Directors.</td></tr><tr><td colspan="1">Board of Directors</td></tr><tr><td colspan="1">Composition</td></tr><tr><td colspan="1">According to the Articles of Association, the Board of Directors must comprise not less than three and not more than eight members elected by the General Meeting for terms of one year. Board members are eligible for re-election.</td></tr><tr><td colspan="1">In 2020, Michael Larsen, Stefan Pettersson and Peter Grubert stepped down from the Board of Directors. Karen-Marie Katholm and Carsten Krogsgaard Thomsen were elected as new members.</td></tr><tr><td colspan="1">The composition of the Board of Directors is intended to ensure that the Board of Directors has a diverse competency profile enabling the Board of Directors to perform its duties in the best possible manner.</td></tr><tr><td colspan="1">The Board of Directors currently comprise 7 members rep- resenting strong knowledge and expertise within all areas of NTGâs business and strategic focus areas, including the interna- tional transport sector in general, M&amp;A, risk management, IT, accounting and supply chain management. The current Board composition is considered to have the right competencies sup- porting the long-term value creation for NTGâs shareholders.</td></tr><tr><td colspan="1">Independence</td></tr><tr><td colspan="1">Six of the seven members of the Board of Directors are regard- ed as independent, according to the Danish Recommendations on Corporate Governance.</td></tr><tr><td colspan="1">Jørgen Hansen is the founder of NTG and was a member of</td></tr><tr><td colspan="1">the Executive Management in Nordic Transport Group A/S (the former parent company in the NTG Group) until 2018 and is therefore not regarded as independent according to Danish Recommendations on Corporate Governance.</td></tr><tr><td colspan="1">Board Meetings in 2020</td></tr><tr><td colspan="1">The Board of Directors held 12 board meetings in 2020. The agenda for each of the ordinary meetings is based on the Board of Directorsâ annual wheel.</td></tr><tr><td colspan="1">Board Committees</td></tr><tr><td colspan="1">The Board of Directors has established three permanent com- mittees for the purpose of assisting the Board of Directors with preparing decisions and submitting recommendations for the entire Board. Each committee is governed by its own charter, which describes the composition of the committee, its meeting schedule and its tasks, duties and responsibilities.</td></tr><tr><td colspan="1">Audit Committee comprises three members: Ulrik Ross Petersen (Chairman), Eivind Drachmann Kolding and Carsten Krogsgaard Thomsen. The composition of the Audit Committee ensures</td></tr><tr><td colspan="1">that competences and experience within financial accounting and internal controls are represented in the Audit Committee. The Committeeâs tasks and duties include monitoring of NTGâs financial reporting process, internal controls, IT, risk manage- ment, and capital structure. The Committee is also responsible for ensuring independence of the elected external auditor.</td></tr><tr><td colspan="1">Remuneration Committee comprises three members: Eivind Drachmann Kolding (Chairman), Jørgen Hansen and Jesper Præstensgaard. The Committeeâs tasks and duties include prepara- tion of the Groupâs Remuneration Policy in accordance with section 139a of the Danish Companies Act, propose specific targets (KPIs) for performance-related incentive programs and preparation of the Remuneration Report in accordance with section 139b of the Dan- ish Companies Act and the guidelines in the Remuneration Policy.</td></tr><tr><td colspan="1">Nomination Committee comprises two members: Eivind Drachmann Kolding (Chairman) and Jørgen Hansen. The Com- mitteeâs tasks and duties include recommendation of potential new members to the Board, review Diversity Policy and assess- ment of the Boardâs structure, size and composition.</td></tr><tr><td colspan="1">Recommendations on Corporate Governance</td></tr><tr><td colspan="1">NTG observes and applies the Recommendations on Corporate Governance. For 2020, NTG has opted to partly derogate from 2 of the 47 Recommendations (recommendation no. 3.4.2 regarding independence of majority of members in a board committee and recommendation no. 3.4.8 regarding the Remu- neration Committeeâs use of the same external advisors as the Executive Management).</td></tr><tr><td colspan="1">According to the Danish Financial Statements Act section 107b, a statement on corporate governance for the financial year is prepared and can be viewed at NTGâs investor site: investor.ntg.com.</td></tr></table></mrv:CorporateGovernanceReport>
<mrv:StatementOfCorporateSocialResponsibility contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">ESG</td></tr><tr><td colspan="1">Globally we see a raised awareness regarding organizationsâ sustainability and environmental impact. NTG supports initiatives for sustainable solutions in close collaboration with customers and other stakeholders.</td></tr><tr><td colspan="1">Acting within the inherent confines of the transport industry, NTG is committed to promoting a sustainable agenda on key ESG areas, including long-term value creation for the Groupâs shareholders and partners. 2020 was a year of transition for NTG. Initiatives were made to create a baseline towards future improvements and policies on the area. This included data gathering and benchmarking towards industry standards.</td></tr><tr><td colspan="1">As a freight forwarder and logistics provider, NTG delivers value to customers and consumers by facilitating effective and efficient transport solutions for a wide range of goods around the globe. NTG acts as a coordinator and optimizer, using subcontractors such as hauliers, ocean carriers and airlines, to perform the actual transports. For a further description of NTGâs business model, refer to page 14</td></tr><tr><td colspan="1">Environmental impact</td></tr><tr><td colspan="1">With the current technologies available, transportation is a significant contributor to global carbon emissions. Reducing emissions to a sustainable level is a challenge faced by all partici- pants in the transportation industry. As a freight forwarder and logistics provider NTGâs direct emissions mainly relate to office buildings and terminals. NTG is continuously working to identify viable opportunities to reduce direct emissions through energy saving and conservation throughout the relevant locations.</td></tr><tr><td colspan="1">It is NTGâs goal to create higher transparency on the Groupâs level of Carbon Emissions and to identify relevant sources of greenhouse gas emissions in the operational value chain.</td></tr><tr><td colspan="1">Efforts and results</td></tr><tr><td colspan="1">To ensure consistent implementation and follow-up, NTG has implemented ISO 14001 certification related to their environ- mental management and implementation of environmental man- agement systems. NTGâs environmental policies are formalized in the Quality and Environmental Manual. As of December 2020, a total of 29 PADS (2019: 24) distributed on more than 50 sites (2019: 42) were ISO 14001 certified by reputable registrars.</td></tr><tr><td colspan="1">As an important milestone in creating transparency on the area of environmental impact, is the Groupâs first-ever estimations of NTGâs Carbon Footprint were carried out. Estimations were performed on each of the Groupâs emissions scopes yielding a Group-wide carbon emission estimate of 716 thousand tones CO2 equivalents (CO2e) in 2020. Calculations were performed in accordance with GHG Protocol principles and operation- alized by using the Global Logistics Emissions Council (GLEC) framework, which provides a rigorous methodology for esti- mating emissions in the transport industry. Disclosures include estimates from all NTGâs direct and indirect emission sources, as presented on page 44. By using subcontractors to perform the physical transports, the main contributor to NTGâs total emissions are of an indirect nature. Initiatives to increase the Groupâs carbon efficiency are continually investigated and eval- uated. Bringing transparency to the area of carbon emissions marks an important first step in creating actionable insight which opens doors for continued improvements and further sustainable service offerings to NTGâs customers.</td></tr><tr><td colspan="1">Responsible business practices</td></tr><tr><td colspan="1">Responsible behavior is part of NTGâs core values, and customers and other stakeholders all expect NTG to conduct business in a responsible manner. NTGâs codes of conduct towards employees and subcontractors form the basis of all actions and activities carried out in NTGâs name.</td></tr><tr><td colspan="1">Efforts and results</td></tr><tr><td colspan="1">In 2020, a new legal compliance program for anti-corruption, competition law, economic sanctions, human rights and export controls was established. The program is designed to fulfil global requirements and improve focus on legal compliance awareness and training.</td></tr><tr><td colspan="1">Main legal compliance initiatives were</td></tr><tr><td colspan="1">Risk assessments across the Group on implementation of new governance controls, awareness of whistleblower system, anti-corruption, competition law, human rights and foreign trade controls. The outcome of the risk assessments is the basis for NTGâs annual mitigation plans which include training and third-party due diligence.</td></tr><tr><td colspan="1">Establishment of a global compliance champion network where local compliance champions serve as advisors and first point of contact to respond to the local operationsâ routine legal com- pliance-related questions. This helps to better integrate legal compliance matters into business operations. The network is anchored within headquarter and sponsored by NTGâs execu- tive management. To support, each subsidiary has appointed local compliance champions in 2020. Compliance champions are performing their new role in addition to their core job.</td></tr><tr><td colspan="1">Raising awareness about NTGâs whistleblower system. In 2020, the whistleblower system received 2 cases related to potential viola- tions of Group policies. Both cases were investigated and cleared.</td></tr><tr><td colspan="1">Implementation of a standardized third-party management pro- cess, including the performance of a pre-boarding due diligence.</td></tr></table></mrv:StatementOfCorporateSocialResponsibility>
<mrv:StatementOfTheDiversityPolicies contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Employees and diversity</td></tr><tr><td colspan="1">NTGâs employees are the reason for the Groupâs success. Their dedication and talent are the main assets of the company. NTG is committed to securing a safe workplace, ensuring employee satisfaction, limiting employee turnover and providing talent- based advancement opportunities for all employees on an equal basis. NTG does not discriminate but wants to employ the best candidate for given positions.</td></tr><tr><td colspan="1">Management is aware the transport industry generally attracts some society groups to a higher degree, affecting diversity.</td></tr><tr><td colspan="1">Management believes that NTGâs overall diversity is representative of the industry in general. However, to ensure continued access to a broad range of employees and skills, NTG has an objective of increasing diversity at all levels of the organiza- tion. NTGâs CSR and ESG policy (available on investor.ntg.com) describes the Groups approach to ensuring diversity throughout the organization. The policy covers all levels of the organization, including Executive Management and the Board of Directors.</td></tr><tr><td colspan="1">Efforts and results</td></tr><tr><td colspan="1">NTG monitors employee satisfaction yearly, and openly presents and discusses the results with employees in order to continuously improve the working conditions in the Group. In 2020, NTG reached an employee satisfaction score, which is similar to comparable companies.</td></tr><tr><td colspan="1">In 2020, NTG concluded a survey of employee matters, in- cluding data collection on work accidents, nationalities in the workforce, employee turnover and gender representation at employee and manager-level. Generally, diversity is increased in connection with the Groupâs continued international expansion.</td></tr></table></mrv:StatementOfTheDiversityPolicies>
<mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">NTG has a target of 1/7 representation of the underrepresented gender on the Board of Directors, which was expected to be reached in 2022 at the latest. In 2020, this goal was reached, and the need of a revised diversity target is currently being evaluated.</td></tr></table></mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender>
<ifrs-full:AverageNumberOfEmployees contextRef="ctx1" unitRef="pure" decimals="0">1482</ifrs-full:AverageNumberOfEmployees>
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rsrapport</gsd:InformationOnTypeOfSubmittedReport>
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<gsd:NameOfSubmittingEnterprise contextRef="ctx1" xml:lang="da">PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab</gsd:NameOfSubmittingEnterprise>
<gsd:AddressOfSubmittingEnterpriseStreetAndNumber contextRef="ctx1" xml:lang="da">Strandvejen 44</gsd:AddressOfSubmittingEnterpriseStreetAndNumber>
<gsd:AddressOfSubmittingEnterprisePostcodeAndTown contextRef="ctx1" xml:lang="da">2900 Hellerup</gsd:AddressOfSubmittingEnterprisePostcodeAndTown>
<gsd:PrecedingReportingPeriodStartDate contextRef="ctx1">2019-01-01</gsd:PrecedingReportingPeriodStartDate>
<gsd:PredingReportingPeriodEndDate contextRef="ctx1">2019-12-31</gsd:PredingReportingPeriodEndDate>
<cmn:TypeOfAuditorAssistance contextRef="ctx1">Revisionspåtegning</cmn:TypeOfAuditorAssistance>
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<ifrs-dk:FreeCashFlowsFromUsedInOperatingInvestingActivities contextRef="ctx2" unitRef="vDKK" decimals="-5">149200000</ifrs-dk:FreeCashFlowsFromUsedInOperatingInvestingActivities>
<ifrs-full:PaymentsOfFinanceLeaseLiabilitiesClassifiedAsFinancingActivities contextRef="ctx2" unitRef="vDKK" decimals="-5">117300000</ifrs-full:PaymentsOfFinanceLeaseLiabilitiesClassifiedAsFinancingActivities>
<ifrs-dk:PurchaseSaleOfTreasuryAssets contextRef="ctx2" unitRef="vDKK" decimals="-6">0</ifrs-dk:PurchaseSaleOfTreasuryAssets>
<ifrs-dk:DividensDistributedToNonControllingInterests contextRef="ctx2" unitRef="vDKK" decimals="-5">14800000</ifrs-dk:DividensDistributedToNonControllingInterests>
<ifrs-full:CashFlowsFromUsedInFinancingActivities contextRef="ctx2" unitRef="vDKK" decimals="-5">-126700000</ifrs-full:CashFlowsFromUsedInFinancingActivities>
<ifrs-full:IncreaseDecreaseInCashAndCashEquivalents contextRef="ctx2" unitRef="vDKK" decimals="-5">22500000</ifrs-full:IncreaseDecreaseInCashAndCashEquivalents>
<ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents contextRef="ctx2" unitRef="vDKK" decimals="-5">-300000</ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents>
<ifrs-full:IntangibleAssetsAndGoodwill contextRef="ctx3" unitRef="vDKK" decimals="-5">507100000</ifrs-full:IntangibleAssetsAndGoodwill>
<ifrs-full:PropertyPlantAndEquipment contextRef="ctx3" unitRef="vDKK" decimals="-5">91300000</ifrs-full:PropertyPlantAndEquipment>
<ifrs-dk:RightofuseAssets contextRef="ctx3" unitRef="vDKK" decimals="-5">553700000</ifrs-dk:RightofuseAssets>
<ifrs-full:OtherNoncurrentReceivables contextRef="ctx3" unitRef="vDKK" decimals="-5">11200000</ifrs-full:OtherNoncurrentReceivables>
<ifrs-full:DeferredTaxAssets contextRef="ctx3" unitRef="vDKK" decimals="-6">10000000</ifrs-full:DeferredTaxAssets>
<ifrs-full:NoncurrentAssets contextRef="ctx3" unitRef="vDKK" decimals="-5">1173300000</ifrs-full:NoncurrentAssets>
<ifrs-full:CurrentTradeReceivables contextRef="ctx3" unitRef="vDKK" decimals="-5">827600000</ifrs-full:CurrentTradeReceivables>
<ifrs-full:OtherCurrentReceivables contextRef="ctx3" unitRef="vDKK" decimals="-5">90800000</ifrs-full:OtherCurrentReceivables>
<ifrs-full:CashAndCashEquivalents contextRef="ctx3" unitRef="vDKK" decimals="-5">235900000</ifrs-full:CashAndCashEquivalents>
<ifrs-full:CurrentTaxAssetsCurrent contextRef="ctx3" unitRef="vDKK" decimals="-5">600000</ifrs-full:CurrentTaxAssetsCurrent>
<ifrs-full:CurrentAssets contextRef="ctx3" unitRef="vDKK" decimals="-5">1154900000</ifrs-full:CurrentAssets>
<ifrs-full:Assets contextRef="ctx3" unitRef="vDKK" decimals="-5">2328200000</ifrs-full:Assets>
<ifrs-full:IssuedCapital contextRef="ctx3" unitRef="vDKK" decimals="-6">453000000</ifrs-full:IssuedCapital>
<ifrs-full:OtherReserves contextRef="ctx3" unitRef="vDKK" decimals="-5">-120700000</ifrs-full:OtherReserves>
<ifrs-full:EquityAttributableToOwnersOfParent contextRef="ctx3" unitRef="vDKK" decimals="-5">332300000</ifrs-full:EquityAttributableToOwnersOfParent>
<ifrs-full:NoncontrollingInterests contextRef="ctx3" unitRef="vDKK" decimals="-5">60700000</ifrs-full:NoncontrollingInterests>
<ifrs-full:Equity contextRef="ctx3" unitRef="vDKK" decimals="-6">393000000</ifrs-full:Equity>
<ifrs-full:DeferredTaxLiabilities contextRef="ctx3" unitRef="vDKK" decimals="-5">1800000</ifrs-full:DeferredTaxLiabilities>
<ifrs-full:NoncurrentRecognisedLiabilitiesDefinedBenefitPlan contextRef="ctx3" unitRef="vDKK" decimals="-5">149800000</ifrs-full:NoncurrentRecognisedLiabilitiesDefinedBenefitPlan>
<ifrs-full:NoncurrentProvisions contextRef="ctx3" unitRef="vDKK" decimals="-5">200000</ifrs-full:NoncurrentProvisions>
<ifrs-full:OtherNoncurrentFinancialLiabilities contextRef="ctx3" unitRef="vDKK" decimals="-5">18200000</ifrs-full:OtherNoncurrentFinancialLiabilities>
<ifrs-full:NoncurrentFinanceLeaseLiabilities contextRef="ctx3" unitRef="vDKK" decimals="-5">484200000</ifrs-full:NoncurrentFinanceLeaseLiabilities>
<ifrs-full:NoncurrentLiabilities contextRef="ctx3" unitRef="vDKK" decimals="-5">654200000</ifrs-full:NoncurrentLiabilities>
<ifrs-full:CurrentProvisions contextRef="ctx3" unitRef="vDKK" decimals="-6">62000000</ifrs-full:CurrentProvisions>
<ifrs-full:OtherCurrentFinancialLiabilities contextRef="ctx3" unitRef="vDKK" decimals="-5">21500000</ifrs-full:OtherCurrentFinancialLiabilities>
<ifrs-full:CurrentFinanceLeaseLiabilities contextRef="ctx3" unitRef="vDKK" decimals="-5">132400000</ifrs-full:CurrentFinanceLeaseLiabilities>
<ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers contextRef="ctx3" unitRef="vDKK" decimals="-5">854900000</ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers>
<ifrs-full:OtherCurrentPayables contextRef="ctx3" unitRef="vDKK" decimals="-5">194500000</ifrs-full:OtherCurrentPayables>
<ifrs-full:CurrentTaxLiabilitiesCurrent contextRef="ctx3" unitRef="vDKK" decimals="-5">15700000</ifrs-full:CurrentTaxLiabilitiesCurrent>
<ifrs-full:CurrentLiabilities contextRef="ctx3" unitRef="vDKK" decimals="-6">1281000000</ifrs-full:CurrentLiabilities>
<ifrs-full:Liabilities contextRef="ctx3" unitRef="vDKK" decimals="-5">1935200000</ifrs-full:Liabilities>
<ifrs-full:EquityAndLiabilities contextRef="ctx3" unitRef="vDKK" decimals="-5">2328200000</ifrs-full:EquityAndLiabilities>
<ifrs-full:IntangibleAssetsAndGoodwill contextRef="ctx4" unitRef="vDKK" decimals="-5">389800000</ifrs-full:IntangibleAssetsAndGoodwill>
<ifrs-full:PropertyPlantAndEquipment contextRef="ctx4" unitRef="vDKK" decimals="-5">75200000</ifrs-full:PropertyPlantAndEquipment>
<ifrs-dk:RightofuseAssets contextRef="ctx4" unitRef="vDKK" decimals="-5">518700000</ifrs-dk:RightofuseAssets>
<ifrs-full:OtherNoncurrentReceivables contextRef="ctx4" unitRef="vDKK" decimals="-5">6200000</ifrs-full:OtherNoncurrentReceivables>
<ifrs-full:DeferredTaxAssets contextRef="ctx4" unitRef="vDKK" decimals="-6">5000000</ifrs-full:DeferredTaxAssets>
<ifrs-full:NoncurrentAssets contextRef="ctx4" unitRef="vDKK" decimals="-5">994900000</ifrs-full:NoncurrentAssets>
<ifrs-full:CurrentTradeReceivables contextRef="ctx4" unitRef="vDKK" decimals="-5">769800000</ifrs-full:CurrentTradeReceivables>
<ifrs-full:OtherCurrentReceivables contextRef="ctx4" unitRef="vDKK" decimals="-5">82500000</ifrs-full:OtherCurrentReceivables>
<ifrs-full:CashAndCashEquivalents contextRef="ctx4" unitRef="vDKK" decimals="-5">180200000</ifrs-full:CashAndCashEquivalents>
<ifrs-full:CurrentTaxAssetsCurrent contextRef="ctx4" unitRef="vDKK" decimals="-5">2300000</ifrs-full:CurrentTaxAssetsCurrent>
<ifrs-full:CurrentAssets contextRef="ctx4" unitRef="vDKK" decimals="-5">1034800000</ifrs-full:CurrentAssets>
<ifrs-full:Assets contextRef="ctx4" unitRef="vDKK" decimals="-5">2029700000</ifrs-full:Assets>
<ifrs-full:IssuedCapital contextRef="ctx4" unitRef="vDKK" decimals="-5">448500000</ifrs-full:IssuedCapital>
<ifrs-full:OtherReserves contextRef="ctx4" unitRef="vDKK" decimals="-5">-208100000</ifrs-full:OtherReserves>
<ifrs-full:EquityAttributableToOwnersOfParent contextRef="ctx4" unitRef="vDKK" decimals="-5">240400000</ifrs-full:EquityAttributableToOwnersOfParent>
<ifrs-full:NoncontrollingInterests contextRef="ctx4" unitRef="vDKK" decimals="-6">48000000</ifrs-full:NoncontrollingInterests>
<ifrs-full:Equity contextRef="ctx4" unitRef="vDKK" decimals="-5">288400000</ifrs-full:Equity>
<ifrs-full:DeferredTaxLiabilities contextRef="ctx4" unitRef="vDKK" decimals="-5">2700000</ifrs-full:DeferredTaxLiabilities>
<ifrs-full:NoncurrentRecognisedLiabilitiesDefinedBenefitPlan contextRef="ctx4" unitRef="vDKK" decimals="-5">152900000</ifrs-full:NoncurrentRecognisedLiabilitiesDefinedBenefitPlan>
<ifrs-full:NoncurrentProvisions contextRef="ctx4" unitRef="vDKK" decimals="-5">2900000</ifrs-full:NoncurrentProvisions>
<ifrs-full:OtherNoncurrentFinancialLiabilities contextRef="ctx4" unitRef="vDKK" decimals="-5">36100000</ifrs-full:OtherNoncurrentFinancialLiabilities>
<ifrs-full:NoncurrentFinanceLeaseLiabilities contextRef="ctx4" unitRef="vDKK" decimals="-5">455400000</ifrs-full:NoncurrentFinanceLeaseLiabilities>
<ifrs-full:NoncurrentLiabilities contextRef="ctx4" unitRef="vDKK" decimals="-6">650000000</ifrs-full:NoncurrentLiabilities>
<ifrs-full:CurrentProvisions contextRef="ctx4" unitRef="vDKK" decimals="-5">42600000</ifrs-full:CurrentProvisions>
<ifrs-full:OtherCurrentFinancialLiabilities contextRef="ctx4" unitRef="vDKK" decimals="-5">17200000</ifrs-full:OtherCurrentFinancialLiabilities>
<ifrs-full:CurrentFinanceLeaseLiabilities contextRef="ctx4" unitRef="vDKK" decimals="-5">119900000</ifrs-full:CurrentFinanceLeaseLiabilities>
<ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers contextRef="ctx4" unitRef="vDKK" decimals="-5">776300000</ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers>
<ifrs-full:OtherCurrentPayables contextRef="ctx4" unitRef="vDKK" decimals="-5">127600000</ifrs-full:OtherCurrentPayables>
<ifrs-full:CurrentTaxLiabilitiesCurrent contextRef="ctx4" unitRef="vDKK" decimals="-5">7700000</ifrs-full:CurrentTaxLiabilitiesCurrent>
<ifrs-full:CurrentLiabilities contextRef="ctx4" unitRef="vDKK" decimals="-5">1091300000</ifrs-full:CurrentLiabilities>
<ifrs-full:Liabilities contextRef="ctx4" unitRef="vDKK" decimals="-5">1741300000</ifrs-full:Liabilities>
<ifrs-full:EquityAndLiabilities contextRef="ctx4" unitRef="vDKK" decimals="-5">2029700000</ifrs-full:EquityAndLiabilities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx5" xml:lang="da">Operating profit before special items</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx5" unitRef="vDKK" decimals="-5">260700000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx6" xml:lang="da">Operating profit before special items</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx6" unitRef="vDKK" decimals="-6">208000000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx7" xml:lang="da">Interest paid on leasing contracts</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx7" unitRef="vDKK" decimals="-5">-31300000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx8" xml:lang="da">Interest paid on leasing contracts</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx8" unitRef="vDKK" decimals="-5">-31300000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx9" xml:lang="da">Other financial expenses paid</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx9" unitRef="vDKK" decimals="-5">-17100000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx10" xml:lang="da">Other financial expenses paid</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx10" unitRef="vDKK" decimals="-5">-19800000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx11" xml:lang="da">Special items</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx11" unitRef="vDKK" decimals="-5">-5400000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx12" xml:lang="da">Special items</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx12" unitRef="vDKK" decimals="-5">-46200000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx13" xml:lang="da">Changes in other financial assets</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx13" unitRef="vDKK" decimals="-5">-3200000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx14" xml:lang="da">Changes in other financial assets</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx14" unitRef="vDKK" decimals="-5">2800000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx15" xml:lang="da">Proceeds and repayments of other financial liabilities</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx15" unitRef="vDKK" decimals="-5">-44300000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx16" xml:lang="da">Proceeds and repayments of other financial liabilities</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx16" unitRef="vDKK" decimals="-5">-43900000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx17" xml:lang="da">Cost attributable to capital increase</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx17" unitRef="vDKK" decimals="-6">0</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx18" xml:lang="da">Cost attributable to capital increase</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx18" unitRef="vDKK" decimals="-5">-5200000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx19" xml:lang="da">Reverse acquisition of former Neurosearch A/S on 7 October 2019</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx19" unitRef="vDKK" decimals="-6">0</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx20" xml:lang="da">Reverse acquisition of former Neurosearch A/S on 7 October 2019</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx20" unitRef="vDKK" decimals="-5">53300000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx21" xml:lang="da">Acquisition of shares from non-controlling interests</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx21" unitRef="vDKK" decimals="-5">-3700000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx22" xml:lang="da">Acquisition of shares from non-controlling interests</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx22" unitRef="vDKK" decimals="-5">-100000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx23" xml:lang="da">Disposal of shares to non-controlling interests</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx23" unitRef="vDKK" decimals="-5">2100000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx24" xml:lang="da">Disposal of shares to non-controlling interests</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx24" unitRef="vDKK" decimals="-5">1300000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-full:CashAndCashEquivalents contextRef="ctx25" unitRef="vDKK" decimals="-5">180200000</ifrs-full:CashAndCashEquivalents>
<ifrs-full:CashAndCashEquivalents contextRef="ctx26" unitRef="vDKK" decimals="-6">158000000</ifrs-full:CashAndCashEquivalents>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx27" xml:lang="da">Michael Larsen</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx27" xml:lang="da">Group CEO</cmn:TitleOfMemberOfExecutiveBoard>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx28" xml:lang="da">Christian D. Jakobsen</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx28" xml:lang="da">Group CFO</cmn:TitleOfMemberOfExecutiveBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx29" xml:lang="da">Eivind Kolding</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx29" xml:lang="da">Chairman of the board</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx30" xml:lang="da">Jørgen Hansen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx30" xml:lang="da">Vice chairman of the board</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx31" xml:lang="da">Finn Skovbo Pedersen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx31" xml:lang="da">Board member</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx32" xml:lang="da">Carsten Krogsgaard Thomsen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx32" xml:lang="da">Board member</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx33" xml:lang="da">Ulrik Ross Petersen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx33" xml:lang="da">Board member</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx34" xml:lang="da">Jesper Præstensgaard</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx34" xml:lang="da">Board member</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx35" xml:lang="da">Karen-Marie Katholm</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx35" xml:lang="da">Board member</cmn:TitleOfMemberOfSupervisoryBoard>
<ifrs-full:AverageNumberOfEmployees contextRef="ctx36" unitRef="pure" decimals="0">1380</ifrs-full:AverageNumberOfEmployees>
<cmn:NameOfAuditFirm contextRef="ctx37" xml:lang="da">PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirm>
<cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx37">33771231</cmn:IdentificationNumberCvrOfAuditFirm>
<cmn:NameAndSurnameOfAuditor contextRef="ctx37" xml:lang="da">Flemming Eghoff</cmn:NameAndSurnameOfAuditor>
<cmn:DescriptionOfAuditor contextRef="ctx37" xml:lang="da">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
<arr:IdentificationNumberOfAuditor contextRef="ctx37">mne30221</arr:IdentificationNumberOfAuditor>
<cmn:NameAndSurnameOfAuditor contextRef="ctx38" xml:lang="da">Morten Jørgensen</cmn:NameAndSurnameOfAuditor>
<cmn:DescriptionOfAuditor contextRef="ctx38" xml:lang="da">State Authorized Public Accountant</cmn:DescriptionOfAuditor>
<arr:IdentificationNumberOfAuditor contextRef="ctx38">mne32806</arr:IdentificationNumberOfAuditor>
<cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx38">33771231</cmn:IdentificationNumberCvrOfAuditFirm>
<cmn:NameOfAuditFirm contextRef="ctx38" xml:lang="da">PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirm>
</xbrli:xbrl>