Assets
| Type | Time | Amount | Unit |
|---|---|---|---|
| ifrs-full:Assets | 2021-12-31 | 3242000000 | vDKK |
| ifrs-full:Assets | 2022-12-31 | 4104000000 | vDKK |
Revenue
| Type | Start date | End date | Amount | Unit |
|---|---|---|---|---|
| ifrs-full:Revenue | 2022-01-01 | 2022-12-31 | 10224000000 | vDKK |
| ifrs-full:Revenue | 2021-01-01 | 2021-12-31 | 7302000000 | vDKK |
XML
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<sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx43" id="fact1399" xml:lang="en">Statement of the Board of Directors and the Executive Board The Board of Directors and Executive Board have considered and adopted the Annual Report of NTG Nordic Transport Group A/S for the financial year 1 January - 31 December 2022. 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. 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 2022 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 2022. 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 as well as a description of the most significant risks and elements of uncertainty facing the Group and the Parent Company. In our opinion, the Annual Report of NTG Nordic Transport Group A/S for the financial year 1 January to 31 December 2022 with the file name NTG-2022-12-31-en.zip is prepared, in all material respects, in compliance with the ESEF Regulation. We recommend that the Annual Report be adopted at the Annual General Meeting.</sob:StatementByExecutiveAndSupervisoryBoards>
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<arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements contextRef="ctx43" id="fact1431" xml:lang="en">To the shareholders of NTG Nordic Transport Group A/S</arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements>
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<arr:OpinionOnAuditedFinancialStatements contextRef="ctx43" id="fact1434" xml:lang="en">Our opinion In our opinion, the Consolidated Financial Statements give a true and fair view of the Groupâs financial position at 31 Decem- ber 2022 and of the results of the Groupâs operations and cash flows for the financial year 1 January to 31 December 2022 in accordance with International Financial Reporting Standards as adopted by the EU and further requirements in the Danish Financial Statements Act. Moreover, in our opinion, the Parent Company Financial Statements give a true and fair view of the Parent Companyâs financial position at 31 December 2022 and of the results of the Parent Companyâs operations for the financial year 1 January to 31 December 2022 in accordance with the Danish Financial Statements Act. Our opinion is consistent with our Auditorâs Long-form Report to the Audit Committee and the Board of Directors. What we have audited The Consolidated Financial Statements (pp. 45-78) and the Parent Company Financial Statements (pp. 86-93) of NTG Nordic Transport Group A/S for the financial year 1 January to 31 December 2022 comprise income statement, balance sheet, statement of changes in equity and notes, including summary of significant accounting policies for the Group as well as for the Parent Company and statement of comprehensive income and cash flow statement for the Group. Collectively referred to as the âFinancial Statementsâ.</arr:OpinionOnAuditedFinancialStatements>
<arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx43" id="fact1460" xml:lang="en">Basis for opinion We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those stand- ards and requirements are further described in the Auditorâs responsibilities for the audit of the Financial Statements section of our report. We believe that the audit evidence we have obtained is suffi- cient and appropriate to provide a basis for our opinion. Independence We are independent of the Group in accordance with the Inter- national Ethics Standards Board for Accountantsâ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark. We have also fulfilled our other ethical responsibilities in accord- ance with these requirements and the IESBA Code. 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. Appointment We were first appointed auditors of NTG Nordic Transport Group A/S on 16 April 2020 for the financial year 2020. We have been reappointed annually by shareholder resolution for a total period of uninterrupted engagement of 3 years including the financial year 2022.</arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
<arr:KeyAuditMattersAudit contextRef="ctx43" id="fact1485" xml:lang="en">Key audit matters Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the Finan- cial Statements for 2022. 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. Key audit matter Accrued revenue and accrued cost of services 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 de- pendent on the application of the Groupâs accounting policies and terms in customer contracts. We focused on this area, because at year-end, accrued revenue and accrued cost of services exist which involve significant accounting estimates and which are complex by nature, i.e. accrual of income (accrued revenue) and related costs (accrued cost of services), including methods and data applied and assumptions determined by Management. The process of accruing for services rendered around the balance sheet date is, therefore, complex and dependent on certain operational IT systems and relevant IT controls. Moreover, in the Air & Ocean division, an inherent risk exists regarding estimates for recognising revenue in the right period at year end due to the services being rendered over a lengthier period of time. In addition, we focused on this area because of the significance of revenue and as revenue comprises a substantial number of transactions, with different characteristics depending on which business segment the revenue relates to. Reference is made to notes 2.1 and 2.2 to the Consoli- dated Financial Statements. How our audit addressed the key audit matter We performed risk assessment procedures in order to obtain an understanding of IT systems, business processes and relevant controls regarding revenue and accrued costs. For the controls, we assessed whether they were designed and implemented to effectively address the risk of material misstatement. Our audit procedures included considering the ap- propriateness of the accounting policies for revenue recognition applied by Management and assessing compliance with IFRS. For accrued revenue and accrued cost of services, we examined reports concerning services in progress and challenged the assumptions made by Management in this regard. We selected a sample of transactions at year-end and traced these to underlying evidence to determine whether revenue and the related costs are recognised in the right period. We also performed look back procedures to evaluate the precision in the estimates made in prior periods. Key audit matter Business combinations Acquisitions are complex transactions, which are sub- ject to significant estimates, including the identifica- tion and valuation of assets, liabilities, and contingent consideration etc. In order to determine the fair value of the separately identified assets and liabilities in a business combination, the valuation methodologies require input based on assumptions about the future and applied discounted cash flow forecasts, including market development and discount rate. We focused on this area because of the significance to the Financial Statements, the inherent complexity and high degree of estimation in the accounting for acqui- sitions, as well as the potential inherent risk related to the control environment. Our main focus of the area was on the acquisitions of Aries Global Logistics. Reference is made to note 7.1 to the Consolidated Financial Statements. How our audit addressed the key audit matter Our audit procedures included assessing the appro- priateness of the accounting policies for business combinations applied by Management and assessing compliance with IFRS. Through random sampling, we verified the opening balance sheets of the acquired businesses. We assessed the valuation methodologies and dis- count rate applied by Management and the valuation of fair value of the purchase consideration, acquired assets and liabilities. We challenged Managementâs significant assumptions used to determine the fair value of the acquired assets and liabilities in the acquisitions, including the fair value of the intangible assets. Finally, we assessed the adequacy of disclosures relat- ing to the business acquisitions.</arr:KeyAuditMattersAudit>
<arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx43" id="fact1579" xml:lang="en">Statement on Managementâs Review Management is responsible for Managementâs Review (pp. 2-44 and p. 79). Our opinion on the Financial Statements does not cover Man- agementâs Review, and we do not express any form of assurance conclusion thereon. 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 inconsist- ent with the Financial Statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. Moreover, we considered whether Managementâs Review includes the disclosures required by the Danish Financial State- ments Act. 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.</arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements>
<arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="ctx43" id="fact1618" xml:lang="en">Auditorâs responsibilities for the audit of the Financial Statements 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 audi- torâs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit con- ducted in accordance with ISAs and the additional 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 deci- sions of users taken on the basis of these Financial Statements. 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: · 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 of not detecting a ma- terial misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. · Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Groupâs and the Parent Companyâs internal control. · Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclo- sures made by Management. · Conclude on the appropriateness of Managementâs use of the going concern basis of accounting and based on the audit evidence obtained, whether a material uncertainty 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 condi- tions may cause the Group or the Parent Company to cease to continue as a going concern. · Evaluate the overall presentation, structure and content of the Financial Statements, including the disclosures, and whether the Financial Statements represent the underlying transactions and events in a manner that gives a true and fair view. Obtain sufficient appropriate audit evidence regarding the fi- nancial information of the entities or business activities within the Group to express an opinion on the Consolidated Financial Statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely respon- sible for our audit opinion. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficien- cies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regard- ing independence, and to communicate with them all relation- ships and other matters that may reasonably be thought to bear on our independence and, where applicable, actions taken to eliminate threats or safeguards applied. From the matters communicated with those charged with governance, we determine those matters that were of most sig- nificance 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.</arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed>
<arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="ctx43" id="fact1599" xml:lang="en">Managementâs responsibilities for the Financial Statements Management is responsible for the preparation of consolidated 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 Financial State- ments Act and for the preparation 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. In preparing the Financial Statements, Management is responsi- ble 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 liquidate the Group or the Parent Company or to cease operations, or has no realistic alternative but to do so.</arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
<arr:AuditorsReportOnXbrlTagging contextRef="ctx43" id="fact1696" xml:lang="en">Report on compliance with the ESEF Regulation As part of our audit of the Financial Statements we performed procedures to express an opinion on whether the annual report of NTG Nordic Transport Group A/S for the financial year 1 January to 31 December 2022 with the filename NTG-2022-12- 31-en.zip is prepared, in all material respects, in compliance with the Commission Delegated Regulation (EU) 2019/815 on the Eu- ropean Single Electronic Format (ESEF Regulation) which includes requirements related to the preparation of the annual report in XHTML format and iXBRL tagging of the Consolidated Financial Statements including notes. Management is responsible for preparing an annual report that complies with the ESEF Regulation. This responsibility includes: · The preparing of the annual report in XHTML format; · The selection and application of appropriate iXBRL tags, including extensions to the ESEF taxonomy and the anchoring thereof to elements in the taxonomy, for all financial informa- tion required to be tagged using judgement where necessary; · Ensuring consistency between iXBRL tagged data and the Consolidated Financial Statements presented in human-read- able format; and · For such internal control as Management determines nec- essary to enable the preparation of an annual report that is compliant with the ESEF Regulation. Our responsibility is to obtain reasonable assurance on whether the annual report is prepared, in all material respects, in compli- ance with the ESEF Regulation based on the evidence we have obtained, and to issue a report that includes our opinion. The nature, timing and extent of procedures selected depend on the auditorâs judgement, including the assessment of the risks of ma- terial departures from the requirements set out in the ESEF Reg- ulation, whether due to fraud or error. The procedures include: · Testing whether the annual report is prepared in XHTML format; · Obtaining an understanding of the companyâs iXBRL tagging process and of internal control over the tagging process; · Evaluating the completeness of the iXBRL tagging of the Consolidated Financial Statements including notes; · Evaluating the appropriateness of the companyâs use of iXBRL elements selected from the ESEF taxonomy and the creation of extension elements where no suitable element in the ESEF taxonomy has been identified; · Evaluating the use of anchoring of extension elements to elements in the ESEF taxonomy; and · Reconciling the iXBRL tagged data with the audited Consoli- dated Financial Statements. In our opinion, the annual report of NTG Nordic Transport Group A/S for the financial year 1 January to 31 December 2022 with the file name NTG-2022-12-31-en.zip is prepared, in all material respects, in compliance with the ESEF Regulation.</arr:AuditorsReportOnXbrlTagging>
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