<?xml version="1.0" encoding="utf-8"?><log><entry code="info" level="info"><message>2025-03-05 17:25:00,260 [info] Activation of plug-in Validate ESMA ESEF-2022 successful, version 1.2022.00. - validate/ESEF_2022 
</message><ref href="validate/ESEF_2022" /></entry><entry code="arelle:unspecifiedTargetDocument" level="warning"><message target="(default)" targets="['(default)', 'DKGAAP']">2025-03-05 17:25:01,791 [arelle:unspecifiedTargetDocument] Target document not specified, loading (default), found targets ['(default)', 'DKGAAP'] - NTG-2024-12-31-en.xhtml 
</message><ref href="NTG-2024-12-31-en.xhtml" /></entry><entry code="info" level="info"><message>2025-03-05 17:25:07,683 [info] loaded in 7.38 secs at 2025-03-05T17:25:00 - NTG-2024-12-31-en/reports/NTG-2024-12-31-en.xhtml 
</message><ref href="NTG-2024-12-31-en/reports/NTG-2024-12-31-en.xhtml" /></entry><entry code="ESEF.3.3.1.extensionConceptsNotAnchored" level="error"><message concepts="ntg:GrossProfitExclusiveAmortisationsDepreciationsAndEmployeeBenefitsExpenseOtherThanTerminalRelatedWorkers, ntg:OperatingProfit...">2025-03-05 17:25:10,636 [ESEF.3.3.1.extensionConceptsNotAnchored] Extension concepts SHALL be anchored to concepts in the ESEF taxonomy:  ntg:GrossProfitExclusiveAmortisationsDepreciationsAndEmployeeBenefitsExpenseOtherThanTerminalRelatedWorkers, ntg:OperatingProfitLossBeforeAmortisationsDepreciationsAndSpecialItems, ntg:OperatingProfitBeforeSpecialItems, ntg:CashFlowsFromUsedInOperatingAndInvestingActivities. - ../xbrl.ntg.com/2024-12-31/NTG-2024-12-31.xsd 71, 74, 75, 81
</message><ref href="../xbrl.ntg.com/2024-12-31/NTG-2024-12-31.xsd#NTG_GrossProfitExclusiveAmortisationsDepreciationsAndEmployeeBenefitsExpenseOtherThanTerminalRelatedWorkers" sourceLine="71"><property name="label" value="ntg:GrossProfitExclusiveAmortisationsDepreciationsAndEmployeeBenefitsExpenseOtherThanTerminalRelatedWorkers"><property name="label (en)" value="Gross profit exclusive amortisations, depreciations and Employee benefits expense, other than Terminal-related workers" /><property name="totalLabel (en)" value="Gross profit exclusive amortisations, depreciations and Employee benefits expense, other than Terminal-related workers" /></property><property name="namespace" value="http://ntg.com" /><property name="name" value="GrossProfitExclusiveAmortisationsDepreciationsAndEmployeeBenefitsExpenseOtherThanTerminalRelatedWorkers" /><property name="QName" value="ntg:GrossProfitExclusiveAmortisationsDepreciationsAndEmployeeBenefitsExpenseOtherThanTerminalRelatedWorkers" /><property name="id" value="NTG_GrossProfitExclusiveAmortisationsDepreciationsAndEmployeeBenefitsExpenseOtherThanTerminalRelatedWorkers" /><property name="abstract" value="false" /><property name="type" value="xbrli:monetaryItemType" /><property name="subst grp" value="xbrli:item" /><property name="period type" value="duration" /><property name="balance" value="credit" /></ref><ref href="../xbrl.ntg.com/2024-12-31/NTG-2024-12-31.xsd#NTG_OperatingProfitLossBeforeAmortisationsDepreciationsAndSpecialItems" sourceLine="74"><property name="label" value="ntg:OperatingProfitLossBeforeAmortisationsDepreciationsAndSpecialItems"><property name="label (en)" value="Operating profit (loss) before amortisations, depreciations and special items" /><property name="totalLabel (en)" value="Operating profit (loss) before amortisations, depreciations and special items" /></property><property name="namespace" value="http://ntg.com" /><property name="name" value="OperatingProfitLossBeforeAmortisationsDepreciationsAndSpecialItems" /><property name="QName" value="ntg:OperatingProfitLossBeforeAmortisationsDepreciationsAndSpecialItems" /><property name="id" value="NTG_OperatingProfitLossBeforeAmortisationsDepreciationsAndSpecialItems" /><property name="abstract" value="false" /><property name="type" value="xbrli:monetaryItemType" /><property name="subst grp" value="xbrli:item" /><property name="period type" value="duration" /><property name="balance" value="credit" /></ref><ref href="../xbrl.ntg.com/2024-12-31/NTG-2024-12-31.xsd#NTG_OperatingProfitBeforeSpecialItems" sourceLine="75"><property name="label" value="ntg:OperatingProfitBeforeSpecialItems"><property name="label (en)" value="Operating profit before special items" /><property name="totalLabel (en)" value="Operating profit before special items" /></property><property name="namespace" value="http://ntg.com" /><property name="name" value="OperatingProfitBeforeSpecialItems" /><property name="QName" value="ntg:OperatingProfitBeforeSpecialItems" /><property name="id" value="NTG_OperatingProfitBeforeSpecialItems" /><property name="abstract" value="false" /><property name="type" value="xbrli:monetaryItemType" /><property name="subst grp" value="xbrli:item" /><property name="period type" value="duration" /><property name="balance" value="credit" /></ref><ref href="../xbrl.ntg.com/2024-12-31/NTG-2024-12-31.xsd#NTG_CashFlowsFromUsedInOperatingAndInvestingActivities" sourceLine="81"><property name="label" value="ntg:CashFlowsFromUsedInOperatingAndInvestingActivities"><property name="label (en)" value="Cash flows from (used in) operating and investing activities" /><property name="totalLabel (en)" value="Cash flows from (used in) operating and investing activities" /></property><property name="namespace" value="http://ntg.com" /><property name="name" value="CashFlowsFromUsedInOperatingAndInvestingActivities" /><property name="QName" value="ntg:CashFlowsFromUsedInOperatingAndInvestingActivities" /><property name="id" value="NTG_CashFlowsFromUsedInOperatingAndInvestingActivities" /><property name="abstract" value="false" /><property name="type" value="xbrli:monetaryItemType" /><property name="subst grp" value="xbrli:item" /><property name="period type" value="duration" /><property name="balance" value="debit" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,308 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 4277
</message><ref href="NTG-2024-12-31-en.xhtml#fact1630" sourceLine="4277"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="4277" /><property name="namespace" value="http://xbrl.dcca.dk/gsd" /><property name="name" value="NameOfReportingEntity" /><property name="QName" value="gsd:NameOfReportingEntity" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,308 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 4278
</message><ref href="NTG-2024-12-31-en.xhtml#fact1631" sourceLine="4278"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="4278" /><property name="namespace" value="http://xbrl.dcca.dk/gsd" /><property name="name" value="AddressOfReportingEntityStreetName" /><property name="QName" value="gsd:AddressOfReportingEntityStreetName" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,308 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 4279
</message><ref href="NTG-2024-12-31-en.xhtml#fact1632" sourceLine="4279"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="4279" /><property name="namespace" value="http://xbrl.dcca.dk/gsd" /><property name="name" value="AddressOfReportingEntityStreetBuildingIdentifier" /><property name="QName" value="gsd:AddressOfReportingEntityStreetBuildingIdentifier" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,308 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 4280
</message><ref href="NTG-2024-12-31-en.xhtml#fact1633" sourceLine="4280"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="4280" /><property name="namespace" value="http://xbrl.dcca.dk/gsd" /><property name="name" value="AddressOfReportingEntityPostCodeIdentifier" /><property name="QName" value="gsd:AddressOfReportingEntityPostCodeIdentifier" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,308 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 4281
</message><ref href="NTG-2024-12-31-en.xhtml#fact1634" sourceLine="4281"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="4281" /><property name="namespace" value="http://xbrl.dcca.dk/gsd" /><property name="name" value="AddressOfReportingEntityDistrictName" /><property name="QName" value="gsd:AddressOfReportingEntityDistrictName" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,308 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 4282
</message><ref href="NTG-2024-12-31-en.xhtml#fact1635" sourceLine="4282"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="4282" /><property name="namespace" value="http://xbrl.dcca.dk/gsd" /><property name="name" value="IdentificationNumberCvrOfReportingEntity" /><property name="QName" value="gsd:IdentificationNumberCvrOfReportingEntity" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,308 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 4283
</message><ref href="NTG-2024-12-31-en.xhtml#fact1636" sourceLine="4283"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="4283" /><property name="namespace" value="http://xbrl.dcca.dk/gsd" /><property name="name" value="LegalEntityIdentifierOfReportingEntity" /><property name="QName" value="gsd:LegalEntityIdentifierOfReportingEntity" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,308 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 4284
</message><ref href="NTG-2024-12-31-en.xhtml#fact1637" sourceLine="4284"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="4284" /><property name="namespace" value="http://xbrl.dcca.dk/gsd" /><property name="name" value="ReportingPeriodStartDate" /><property name="QName" value="gsd:ReportingPeriodStartDate" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,308 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 4285
</message><ref href="NTG-2024-12-31-en.xhtml#fact1638" sourceLine="4285"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="4285" /><property name="namespace" value="http://xbrl.dcca.dk/gsd" /><property name="name" value="ReportingPeriodEndDate" /><property name="QName" value="gsd:ReportingPeriodEndDate" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,308 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 4286
</message><ref href="NTG-2024-12-31-en.xhtml#fact1639" sourceLine="4286"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="4286" /><property name="namespace" value="http://xbrl.dcca.dk/gsd" /><property name="name" value="PrecedingReportingPeriodStartDate" /><property name="QName" value="gsd:PrecedingReportingPeriodStartDate" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,308 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 4287
</message><ref href="NTG-2024-12-31-en.xhtml#fact1640" sourceLine="4287"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="4287" /><property name="namespace" value="http://xbrl.dcca.dk/gsd" /><property name="name" value="PredingReportingPeriodEndDate" /><property name="QName" value="gsd:PredingReportingPeriodEndDate" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,308 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 4288
</message><ref href="NTG-2024-12-31-en.xhtml#fact1641" sourceLine="4288"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="4288" /><property name="namespace" value="http://xbrl.dcca.dk/fsa" /><property name="name" value="ClassOfReportingEntity" /><property name="QName" value="fsa:ClassOfReportingEntity" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,308 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 4289
</message><ref href="NTG-2024-12-31-en.xhtml#fact1642" sourceLine="4289"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="4289" /><property name="namespace" value="http://xbrl.dcca.dk/mrv" /><property name="name" value="LinkToStatementOfDiversityPolicies" /><property name="QName" value="mrv:LinkToStatementOfDiversityPolicies" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,308 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 4290
</message><ref href="NTG-2024-12-31-en.xhtml#fact1643" sourceLine="4290"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="4290" /><property name="namespace" value="http://xbrl.dcca.dk/mrv" /><property name="name" value="LinkToStatementOfDiversityPolicies" /><property name="QName" value="mrv:LinkToStatementOfDiversityPolicies" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,308 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 4291
</message><ref href="NTG-2024-12-31-en.xhtml#fact1644" sourceLine="4291"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="4291" /><property name="namespace" value="http://xbrl.dcca.dk/mrv" /><property name="name" value="LinkToCorporateGovernanceReport" /><property name="QName" value="mrv:LinkToCorporateGovernanceReport" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,308 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 4292
</message><ref href="NTG-2024-12-31-en.xhtml#fact1645" sourceLine="4292"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="4292" /><property name="namespace" value="http://xbrl.dcca.dk/mrv" /><property name="name" value="LinkToCorporateGovernanceReport" /><property name="QName" value="mrv:LinkToCorporateGovernanceReport" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,308 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 4293
</message><ref href="NTG-2024-12-31-en.xhtml#fact1646" sourceLine="4293"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="4293" /><property name="namespace" value="http://xbrl.dcca.dk/gsd" /><property name="name" value="InformationOnTypeOfSubmittedReport" /><property name="QName" value="gsd:InformationOnTypeOfSubmittedReport" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,308 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 4294
</message><ref href="NTG-2024-12-31-en.xhtml#fact1647" sourceLine="4294"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="4294" /><property name="namespace" value="http://xbrl.dcca.dk/gsd" /><property name="name" value="IdentificationNumberCvrOfSubmittingEnterprise" /><property name="QName" value="gsd:IdentificationNumberCvrOfSubmittingEnterprise" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,308 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 4295
</message><ref href="NTG-2024-12-31-en.xhtml#fact1648" sourceLine="4295"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="4295" /><property name="namespace" value="http://xbrl.dcca.dk/gsd" /><property name="name" value="NameOfSubmittingEnterprise" /><property name="QName" value="gsd:NameOfSubmittingEnterprise" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,308 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 4296
</message><ref href="NTG-2024-12-31-en.xhtml#fact1649" sourceLine="4296"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="4296" /><property name="namespace" value="http://xbrl.dcca.dk/gsd" /><property name="name" value="AddressOfSubmittingEnterpriseStreetAndNumber" /><property name="QName" value="gsd:AddressOfSubmittingEnterpriseStreetAndNumber" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,308 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 4297
</message><ref href="NTG-2024-12-31-en.xhtml#fact1650" sourceLine="4297"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="4297" /><property name="namespace" value="http://xbrl.dcca.dk/gsd" /><property name="name" value="AddressOfSubmittingEnterprisePostcodeAndTown" /><property name="QName" value="gsd:AddressOfSubmittingEnterprisePostcodeAndTown" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,308 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 4298
</message><ref href="NTG-2024-12-31-en.xhtml#fact1651" sourceLine="4298"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="4298" /><property name="namespace" value="http://xbrl.dcca.dk/gsd" /><property name="name" value="ToolForPreparingTheXBRLInstanceDocument" /><property name="QName" value="gsd:ToolForPreparingTheXBRLInstanceDocument" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,308 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 4299
</message><ref href="NTG-2024-12-31-en.xhtml#fact1652" sourceLine="4299"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="4299" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="TypeOfAuditorAssistance" /><property name="QName" value="cmn:TypeOfAuditorAssistance" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,308 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 4300
</message><ref href="NTG-2024-12-31-en.xhtml#fact1653" sourceLine="4300"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="4300" /><property name="namespace" value="http://xbrl.dcca.dk/arr" /><property name="name" value="TypeOfBasisForModifiedOpinionOnAuditedFinancialStatements" /><property name="QName" value="arr:TypeOfBasisForModifiedOpinionOnAuditedFinancialStatements" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,308 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 4301
</message><ref href="NTG-2024-12-31-en.xhtml#fact1654" sourceLine="4301"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="4301" /><property name="namespace" value="http://xbrl.dcca.dk/arr" /><property name="name" value="TypeOfModifiedOpinionOnAuditedFinancialStatements" /><property name="QName" value="arr:TypeOfModifiedOpinionOnAuditedFinancialStatements" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,308 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 4302
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</message><ref href="NTG-2024-12-31-en.xhtml#fact8027" sourceLine="53471"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="53471" /><property name="label" value="ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory" /><property name="QName" value="ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:9.3545em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_305 stl_08 stl_380&quot; style=&quot;word-spacing:0.3115em;&quot;&gt;1. Basis&lt;/span&gt;&#xA;                &lt;span class=&quot;stl_305 stl_08 stl_29&quot; style=&quot;word-spacing:-0.012em;&quot;&gt;&lt;/span&gt;&#xA;                &lt;span class=&quot;stl_305 stl_08 stl_344&quot; style=&quot;word-spacing:-0.0211em;&quot;&gt;for preparation &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:10.5469em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_327&quot; style=&quot;word-spacing:-0.0355em;&quot;&gt;This section provides an overview of the financial accounting policies and key &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:11.3385em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_212&quot; style=&quot;word-spacing:-0.0341em;&quot;&gt;accounting estimates applied in the preparation of the Groups consolidated &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:12.1301em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_114&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;financial statements. The accounting policies set out in section 1.1. below have &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:12.9216em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_85&quot; style=&quot;word-spacing:-0.0371em;&quot;&gt;been applied consistently with respect to the financial year and comparative &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:13.7132em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_127&quot; style=&quot;word-spacing:-0.0303em;&quot;&gt;figures from previous year. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;          &#xA;            &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:15.2964em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0344em;&quot;&gt;The consolidated financial statements of NTG Nordic Transport Group A/S have &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:16.088em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0353em;&quot;&gt;been prepared in accordance with IFRS Accounting Standards as adopted by the &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:16.8796em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0384em;&quot;&gt;EU and further requirements in the Danish Financial Statements Act relevant for &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:17.6711em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;class D companies. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;          &#xA;            &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:19.2543em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_327&quot; style=&quot;word-spacing:-0.0356em;&quot;&gt;The Annual Report for 2024 was approved by Executive Management and the &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:20.0459em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0364em;&quot;&gt;Board of Directors on 5 March 2025 and will be presented for approval at the &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:20.8375em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0374em;&quot;&gt;subsequent Annual General Meeting on 28 March 2025. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;          &#xA;            &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:23.2122em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_531 stl_08 stl_116&quot; style=&quot;word-spacing:0.3156em;&quot;&gt;1.1 Accounting&lt;/span&gt;&#xA;                &lt;span class=&quot;stl_531 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0157em;&quot;&gt;&lt;/span&gt;&#xA;                &lt;span class=&quot;stl_531 stl_08 stl_85&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;policies, estimates and judgements &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:24.0038em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_320&quot; style=&quot;word-spacing:-0.0386em;&quot;&gt;The Annual Report for the period 1 January  31 December 2024 comprise the &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:24.7954em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_327&quot; style=&quot;word-spacing:-0.0351em;&quot;&gt;consolidated financial statements of the Parent Company NTG Nordic Transport &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:25.587em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0349em;&quot;&gt;Group A/S and subsidiaries controlled by the Parent Company (the Group). &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;          &#xA;            &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:27.1701em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0375em;&quot;&gt;The Annual Report has been prepared on a going concern basis and in accord- &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:27.9617em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0354em;&quot;&gt;ance with the historical cost convention, except where IFRS explicitly requires &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:28.7533em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0367em;&quot;&gt;use of other values. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;          &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:22.3734em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_531 stl_08 stl_327&quot; style=&quot;word-spacing:-0.0353em;&quot;&gt;Foreign currency translation &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:23.1235em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_618 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0347em;&quot;&gt;Functional and presentation currency &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:23.9151em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_56&quot; style=&quot;word-spacing:-0.0397em;&quot;&gt;Items in the financial statements of each reporting entity of the Group are meas- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:24.7067em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.0392em;&quot;&gt;ured in the currency of the primary economic environment in which the entity &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:25.4983em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_120&quot; style=&quot;word-spacing:-0.0389em;&quot;&gt;operates (the functional currency). &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:27.0814em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_119&quot; style=&quot;word-spacing:-0.0339em;&quot;&gt;The functional currency of the Parent Company, NTG Nordic Transport &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:27.873em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0386em;&quot;&gt;Group A/S is Danish Kroner (DKK). &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:29.4562em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.0391em;&quot;&gt;The financial statements are presented in Danish Kroner (DKK), and all amounts &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:30.2478em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0368em;&quot;&gt;have been rounded to the nearest million. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;              &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:31.7895em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_618 stl_08 stl_81&quot; style=&quot;word-spacing:-0.0322em;&quot;&gt;Transactions and balances &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:32.5811em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0385em;&quot;&gt;Foreign currency transactions are translated into the functional currency using &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:33.3727em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0351em;&quot;&gt;the exchange rates at the dates of the transactions. Foreign exchange gains and &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:34.1643em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_480&quot; style=&quot;word-spacing:-0.0401em;&quot;&gt;losses resulting from the settlement of such transactions and from the transla- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:34.9559em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.037em;&quot;&gt;tion of monetary assets and liabilities denominated in foreign currencies at year &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:35.7474em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;end exchange rates are generally recognised on a net basis in the statement of &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:36.539em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0364em;&quot;&gt;profit or loss, within financial items. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;              &#xA;            &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:10.9759em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_618 stl_08 stl_73&quot; style=&quot;word-spacing:-0.0334em;&quot;&gt;Group entities &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:11.7675em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_327&quot; style=&quot;word-spacing:-0.0355em;&quot;&gt;The results and financial position of all Group entities that have a functional cur- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:12.5591em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_56&quot; style=&quot;word-spacing:-0.0397em;&quot;&gt;rency different from the presentation currency are translated into the presenta- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:13.3507em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0357em;&quot;&gt;tion currency as follows: &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:14.9338em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0279em;&quot;&gt;1. Assets and liabilities for each entitys balance sheet are translated at the clos- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:4.4883em;top:15.7254em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_212&quot; style=&quot;word-spacing:-0.0341em;&quot;&gt;ing rate at the date of that balance sheet; &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:17.3086em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0271em;&quot;&gt;2. Income and expenses for each entitys income statement are translated at &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:4.4883em;top:18.1002em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_329&quot; style=&quot;word-spacing:-0.0317em;&quot;&gt;average exchange rates; and &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:19.6833em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_114&quot; style=&quot;word-spacing:-0.0227em;&quot;&gt;3. All resulting exchange differences are recognised as other comprehensive &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:4.4883em;top:20.4749em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_119&quot;&gt;income. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:22.0581em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0376em;&quot;&gt;Goodwill and fair value adjustments arising on the acquisition of a foreign entity &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:22.8497em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0367em;&quot;&gt;are treated as assets and liabilities of the foreign entity and translated at the &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:23.6413em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_106&quot; style=&quot;word-spacing:-0.0347em;&quot;&gt;closing rate. Exchange differences arising are recognised in other comprehensive &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:24.4328em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_119&quot;&gt;income. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;              &#xA;            &#xA;            &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:14.9274em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_531 stl_08 stl_239&quot;&gt;Materiality &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:15.719em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_117&quot; style=&quot;word-spacing:-0.0376em;&quot;&gt;The financial statements separately present items which are considered individ- &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:16.5106em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_90&quot; style=&quot;word-spacing:-0.0348em;&quot;&gt;ually material. Individually immaterial items are aggregated with other items of &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:17.3022em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0364em;&quot;&gt;similar nature in the statements or in the notes. All required disclosures by IFRS &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:18.0937em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_106&quot; style=&quot;word-spacing:-0.0347em;&quot;&gt;are presented unless the information is considered immaterial to the economic &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:18.8853em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0375em;&quot;&gt;decision-making of the users of the financial statements. &lt;/span&gt;&#xA;              &lt;/div&gt;" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8029" sourceLine="53569"><property name="QName" value="ix:continuation" /><property name="id" value="fact8029" /><property name="continuedAt" value="fact8032" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8032" sourceLine="53614"><property name="QName" value="ix:continuation" /><property name="id" value="fact8032" /><property name="continuedAt" value="fact8035" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8035" sourceLine="53664"><property name="QName" value="ix:continuation" /><property name="id" value="fact8035" /><property name="continuedAt" value="fact8037" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8037" sourceLine="53724"><property name="QName" value="ix:continuation" /><property name="id" value="fact8037" /><property name="continuedAt" value="fact8061" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8061" sourceLine="53631"><property name="QName" value="ix:continuation" /><property name="id" value="fact8061" /><property name="continuedAt" value="fact8064" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8064" sourceLine="53765"><property name="QName" value="ix:continuation" /><property name="id" value="fact8064" /><property name="continuedAt" value="fact8068" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8068" sourceLine="53898"><property name="QName" value="ix:continuation" /><property name="id" value="fact8068" /><property name="continuedAt" value="fact8077" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8077" sourceLine="53947"><property name="QName" value="ix:continuation" /><property name="id" value="fact8077" /></ref></entry><entry code="ESEF.2.2.6.textContentOrdering" level="warning"><message qname="ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory">2025-03-05 17:25:11,511 [ESEF.2.2.6.textContentOrdering] The text content of tagged fact should have same order as human-readable report, ix:continuation elements out of order:  ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory - NTG-2024-12-31-en.xhtml 53472, 53497, 53541, 53557, 53571, 53589, 53616, 53632, 53665, 53683, 53725, 53738, 53767, 53795, 53815, 53878, 53900, 53948, 54029, 54319, 54347, 54646, 54751, 54786, 54815, 54981, 55049, 55095, 55295, 56096, 56351, 56733, 56870, 56974, 57064, 57341, 57764, 57800, 57819, 57847, 57879, 57920, 58019, 58318, 58397, 58859, 59259, 60786, 61961, 62818, 65341, 65487, 65504, 65554
</message><ref href="NTG-2024-12-31-en.xhtml#fact8028" sourceLine="53472"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="53472" /><property name="label" value="ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DisclosureOfMaterialAccountingPolicyInformationExplanatory" /><property name="QName" value="ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:9.3545em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_305 stl_08 stl_380&quot; style=&quot;word-spacing:0.3115em;&quot;&gt;1. Basis&lt;/span&gt;&#xA;                &lt;span class=&quot;stl_305 stl_08 stl_29&quot; style=&quot;word-spacing:-0.012em;&quot;&gt;&lt;/span&gt;&#xA;                &lt;span class=&quot;stl_305 stl_08 stl_344&quot; style=&quot;word-spacing:-0.0211em;&quot;&gt;for preparation &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:10.5469em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_327&quot; style=&quot;word-spacing:-0.0355em;&quot;&gt;This section provides an overview of the financial accounting policies and key &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:11.3385em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_212&quot; style=&quot;word-spacing:-0.0341em;&quot;&gt;accounting estimates applied in the preparation of the Groups consolidated &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:12.1301em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_114&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;financial statements. The accounting policies set out in section 1.1. below have &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:12.9216em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_85&quot; style=&quot;word-spacing:-0.0371em;&quot;&gt;been applied consistently with respect to the financial year and comparative &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:13.7132em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_127&quot; style=&quot;word-spacing:-0.0303em;&quot;&gt;figures from previous year. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:15.2964em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0344em;&quot;&gt;The consolidated financial statements of NTG Nordic Transport Group A/S have &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:16.088em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0353em;&quot;&gt;been prepared in accordance with IFRS Accounting Standards as adopted by the &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:16.8796em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0384em;&quot;&gt;EU and further requirements in the Danish Financial Statements Act relevant for &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:17.6711em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;class D companies. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:19.2543em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_327&quot; style=&quot;word-spacing:-0.0356em;&quot;&gt;The Annual Report for 2024 was approved by Executive Management and the &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:20.0459em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0364em;&quot;&gt;Board of Directors on 5 March 2025 and will be presented for approval at the &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:20.8375em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0374em;&quot;&gt;subsequent Annual General Meeting on 28 March 2025. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:23.2122em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_531 stl_08 stl_116&quot; style=&quot;word-spacing:0.3156em;&quot;&gt;1.1 Accounting&lt;/span&gt;&#xA;                &lt;span class=&quot;stl_531 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0157em;&quot;&gt;&lt;/span&gt;&#xA;                &lt;span class=&quot;stl_531 stl_08 stl_85&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;policies, estimates and judgements &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:24.0038em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_320&quot; style=&quot;word-spacing:-0.0386em;&quot;&gt;The Annual Report for the period 1 January  31 December 2024 comprise the &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:24.7954em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_327&quot; style=&quot;word-spacing:-0.0351em;&quot;&gt;consolidated financial statements of the Parent Company NTG Nordic Transport &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:25.587em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0349em;&quot;&gt;Group A/S and subsidiaries controlled by the Parent Company (the Group). &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:27.1701em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0375em;&quot;&gt;The Annual Report has been prepared on a going concern basis and in accord- &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:27.9617em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0354em;&quot;&gt;ance with the historical cost convention, except where IFRS explicitly requires &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:28.7533em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0367em;&quot;&gt;use of other values. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:30.3365em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_531 stl_08 stl_117&quot; style=&quot;word-spacing:-0.0375em;&quot;&gt;New and amended standards adopted by the Group &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:31.128em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.035em;&quot;&gt;Accounting policies have been applied consistently with those applied in the &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:31.9196em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.036em;&quot;&gt;consolidated financial statements for 2023. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:33.5028em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;The Group has implemented all new EU-approved standards, interpretations, &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:34.2944em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_320&quot; style=&quot;word-spacing:-0.0387em;&quot;&gt;and amendments effective on 1 January 2024. The amendments did not have &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:35.086em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_320&quot; style=&quot;word-spacing:-0.0388em;&quot;&gt;any impact on the amounts recognised in prior periods and are not expected to &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:35.8775em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_234&quot; style=&quot;word-spacing:-0.0402em;&quot;&gt;significantly affect the current or future periods. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:37.4607em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_531 stl_08 stl_119&quot; style=&quot;word-spacing:-0.0341em;&quot;&gt;New standards and interpretations not yet adopted &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:38.2523em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_117&quot; style=&quot;word-spacing:-0.0378em;&quot;&gt;Certain new accounting standards and interpretations have been published but &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:39.0439em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.0381em;&quot;&gt;are not mandatory for 31 December 2024 reporting. Management expects that &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:10.544em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_117&quot; style=&quot;word-spacing:-0.0379em;&quot;&gt;the issued standards and amendments not yet in effect will not have a significant &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:11.3355em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_85&quot; style=&quot;word-spacing:-0.0372em;&quot;&gt;impact on the Group's recognition and measurement policies. The Group has &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:12.1271em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_489&quot; style=&quot;word-spacing:-0.0392em;&quot;&gt;begun analyzing the impact of IFRS 18 on its financial statements and accompa- &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:12.9187em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_119&quot; style=&quot;word-spacing:-0.0346em;&quot;&gt;nying notes but has not yet completed the assessment. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:14.5019em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_531 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0351em;&quot;&gt;Consolidation principles &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:15.2935em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_114&quot; style=&quot;word-spacing:-0.0357em;&quot;&gt;The consolidated financial statements comprise NTG Nordic Transport &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:16.085em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;Group A/S (Parent Company) and its subsidiaries. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:17.6268em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_618 stl_08 stl_410&quot;&gt;Subsidiaries &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:18.4184em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0354em;&quot;&gt;Subsidiaries are all entities over which the Group has control. The Group controls &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:19.21em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_117&quot; style=&quot;word-spacing:-0.0379em;&quot;&gt;an entity when the Group is exposed to, or has rights to, variable returns from &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:20.0015em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_56&quot; style=&quot;word-spacing:-0.0397em;&quot;&gt;its involvement with the entity and can affect those returns through its power &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:20.7931em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0362em;&quot;&gt;to direct the activities of the entity. Subsidiaries are fully consolidated from the &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:21.5847em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0356em;&quot;&gt;date on which control is transferred to the Group. They are deconsolidated from &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:22.3763em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_106&quot; style=&quot;word-spacing:-0.0347em;&quot;&gt;the date that control ceases. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:23.9595em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0343em;&quot;&gt;The acquisition method of accounting is used to account for business combina- &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:24.751em;z-index:2463;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_77&quot; style=&quot;word-spacing:-0.0324em;&quot;&gt;tions by the Group (note &lt;/span&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_669&quot;&gt;7&lt;/span&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_279&quot;&gt;.1). &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:26.3342em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_117&quot; style=&quot;word-spacing:-0.0379em;&quot;&gt;Consolidation is performed by summarising the financial statements of the &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:27.1258em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0381em;&quot;&gt;Parent Company and its subsidiaries. Intercompany transactions, balances, &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:27.9174em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0385em;&quot;&gt;and unrealised gains on transactions between Group entities are eliminated. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:28.709em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;Unrealised losses are also eliminated unless the transaction provides evidence of &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:29.5005em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_90&quot; style=&quot;word-spacing:-0.0349em;&quot;&gt;an impairment of the transferred asset. Accounting policies of subsidiaries have &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:30.2921em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.0381em;&quot;&gt;been changed where necessary to ensure consistency with the policies adopted &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:31.0837em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0358em;&quot;&gt;by the Group. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:32.6669em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0355em;&quot;&gt;Acquired or sold subsidiaries are recognised in the consolidated income state- &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:33.4585em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;ment for the period in which the Parent controls such entities. Comparative &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:34.25em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0375em;&quot;&gt;figures are not restated for recently acquired or sold entities. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:35.7918em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_618 stl_08 stl_195&quot;&gt;Associates &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:36.5834em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0357em;&quot;&gt;Associates are all entities over which the Group has significant influence, but not &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:37.3749em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0378em;&quot;&gt;control or joint control. This is generally the case when the Group holds between &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:38.1665em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_327&quot; style=&quot;word-spacing:-0.0355em;&quot;&gt;20% and 50% of the voting rights. Investments in associates are accounted for &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:38.9581em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;using the equity method of accounting, after initially being recognised at cost. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:10.4996em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_618 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0346em;&quot;&gt;Non-controlling interests &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:11.2912em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_114&quot; style=&quot;word-spacing:-0.036em;&quot;&gt;Non-controlling interests share of profit/loss for the year and of equity in &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:12.0828em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0357em;&quot;&gt;subsidiaries is included in the Groups profit/loss for the year and of the equity &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:12.8744em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0344em;&quot;&gt;of subsidiaries, respectively, but shown as separate items. Net profit for the year &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:13.6659em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0368em;&quot;&gt;is allocated to non-controlling interests using the ownership interests present on &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:14.4575em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_255&quot; style=&quot;word-spacing:-0.0403em;&quot;&gt;the reporting date. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:16.0407em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_212&quot; style=&quot;word-spacing:-0.0341em;&quot;&gt;Transactions with non-controlling interests that do not result in a change of con- &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:16.8323em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0383em;&quot;&gt;trol are recognised directly in equity. Such transactions result in an adjustment &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:17.6239em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.0391em;&quot;&gt;between the carrying amounts of the controlling and non-controlling interests &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:18.4154em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.038em;&quot;&gt;to reflect their relative interests in the subsidiary. Any difference between the &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:19.207em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_114&quot; style=&quot;word-spacing:-0.036em;&quot;&gt;amount of the adjustment to non-controlling interests and the consideration paid &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:19.9986em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_120&quot; style=&quot;word-spacing:-0.0388em;&quot;&gt;or received is recognised directly in retained earnings attributable to owners of &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:20.7902em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_73&quot; style=&quot;word-spacing:-0.0339em;&quot;&gt;NTG Nordic Transport Group A/S. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:22.3734em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_531 stl_08 stl_327&quot; style=&quot;word-spacing:-0.0353em;&quot;&gt;Foreign currency translation &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:23.1235em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_618 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0347em;&quot;&gt;Functional and presentation currency &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:23.9151em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_56&quot; style=&quot;word-spacing:-0.0397em;&quot;&gt;Items in the financial statements of each reporting entity of the Group are meas- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:24.7067em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.0392em;&quot;&gt;ured in the currency of the primary economic environment in which the entity &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:25.4983em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_120&quot; style=&quot;word-spacing:-0.0389em;&quot;&gt;operates (the functional currency). &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:27.0814em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_119&quot; style=&quot;word-spacing:-0.0339em;&quot;&gt;The functional currency of the Parent Company, NTG Nordic Transport &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:27.873em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0386em;&quot;&gt;Group A/S is Danish Kroner (DKK). &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:29.4562em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.0391em;&quot;&gt;The financial statements are presented in Danish Kroner (DKK), and all amounts &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:30.2478em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0368em;&quot;&gt;have been rounded to the nearest million. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:31.7895em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_618 stl_08 stl_81&quot; style=&quot;word-spacing:-0.0322em;&quot;&gt;Transactions and balances &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:32.5811em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0385em;&quot;&gt;Foreign currency transactions are translated into the functional currency using &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:33.3727em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0351em;&quot;&gt;the exchange rates at the dates of the transactions. Foreign exchange gains and &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:34.1643em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_480&quot; style=&quot;word-spacing:-0.0401em;&quot;&gt;losses resulting from the settlement of such transactions and from the transla- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:34.9559em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.037em;&quot;&gt;tion of monetary assets and liabilities denominated in foreign currencies at year &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:35.7474em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;end exchange rates are generally recognised on a net basis in the statement of &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:36.539em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0364em;&quot;&gt;profit or loss, within financial items. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:10.9759em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_618 stl_08 stl_73&quot; style=&quot;word-spacing:-0.0334em;&quot;&gt;Group entities &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:11.7675em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_327&quot; style=&quot;word-spacing:-0.0355em;&quot;&gt;The results and financial position of all Group entities that have a functional cur- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:12.5591em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_56&quot; style=&quot;word-spacing:-0.0397em;&quot;&gt;rency different from the presentation currency are translated into the presenta- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:13.3507em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0357em;&quot;&gt;tion currency as follows: &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:14.9338em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0279em;&quot;&gt;1. Assets and liabilities for each entitys balance sheet are translated at the clos- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:4.4883em;top:15.7254em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_212&quot; style=&quot;word-spacing:-0.0341em;&quot;&gt;ing rate at the date of that balance sheet; &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:17.3086em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0271em;&quot;&gt;2. Income and expenses for each entitys income statement are translated at &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:4.4883em;top:18.1002em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_329&quot; style=&quot;word-spacing:-0.0317em;&quot;&gt;average exchange rates; and &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:19.6833em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_114&quot; style=&quot;word-spacing:-0.0227em;&quot;&gt;3. All resulting exchange differences are recognised as other comprehensive &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:4.4883em;top:20.4749em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_119&quot;&gt;income. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:22.0581em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0376em;&quot;&gt;Goodwill and fair value adjustments arising on the acquisition of a foreign entity &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:22.8497em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0367em;&quot;&gt;are treated as assets and liabilities of the foreign entity and translated at the &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:23.6413em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_106&quot; style=&quot;word-spacing:-0.0347em;&quot;&gt;closing rate. Exchange differences arising are recognised in other comprehensive &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:24.4328em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_119&quot;&gt;income. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:26.016em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_531 stl_08 stl_126&quot; style=&quot;word-spacing:-0.03em;&quot;&gt;Statement of cash flow &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:26.8076em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0357em;&quot;&gt;The cash flow statement shows the Group's cash flows during the year distribut- &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:27.5992em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_320&quot; style=&quot;word-spacing:-0.0386em;&quot;&gt;ed on operating, investing, and financing activities, including changes in cash and &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:28.3908em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;cash equivalents at the beginning and at the end of the year. The cash flow state- &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:29.1823em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.0393em;&quot;&gt;ment cannot be derived directly from the balance sheet and income statement. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:30.7655em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_480&quot; style=&quot;word-spacing:-0.0396em;&quot;&gt;Cash flows from operating activities are calculated using the indirect method &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:31.5571em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0362em;&quot;&gt;and as operating profit before special items (EBIT) for the year adjusted for &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:32.3487em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_85&quot; style=&quot;word-spacing:-0.037em;&quot;&gt;changes in working capital and non-cash operating items such as depreciation, &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:33.1403em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0384em;&quot;&gt;amortisation and impairment losses, and provisions. Working capital comprises &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:33.9318em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0351em;&quot;&gt;current assets less short-term debt excluding items included in cash and cash &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:34.7234em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_532&quot;&gt;equivalents. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:36.3066em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;Cash flows from investing activities comprise cash flows from acquisitions and &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:37.0982em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.037em;&quot;&gt;disposals of intangible assets, property, plant and equipment as well as fixed &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:37.8898em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_489&quot; style=&quot;word-spacing:-0.0388em;&quot;&gt;asset investments. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:9.3863em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0382em;&quot;&gt;Cash flows from financing activities comprise cash flows from the raising and &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:10.1779em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_212&quot; style=&quot;word-spacing:-0.0342em;&quot;&gt;repayment of long-term debt, including servicing of leasing liabilities, as well as &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:10.9695em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_246&quot; style=&quot;word-spacing:-0.0403em;&quot;&gt;payments to and from shareholders. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:12.5527em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0372em;&quot;&gt;Cash and cash equivalents include cash on hand and short-term liquid assets that &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:13.3442em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0373em;&quot;&gt;are readily convertible to cash. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:14.9274em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_531 stl_08 stl_239&quot;&gt;Materiality &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:15.719em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_117&quot; style=&quot;word-spacing:-0.0376em;&quot;&gt;The financial statements separately present items which are considered individ- &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:16.5106em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_90&quot; style=&quot;word-spacing:-0.0348em;&quot;&gt;ually material. 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name="QName" value="ix:continuation" /><property name="id" value="fact8287" /><property name="continuedAt" value="fact8291" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8291" sourceLine="57341"><property name="QName" value="ix:continuation" /><property name="id" value="fact8291" /><property name="continuedAt" value="fact8300" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8300" sourceLine="57764"><property name="QName" value="ix:continuation" /><property name="id" value="fact8300" /><property name="continuedAt" value="fact8306" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8306" sourceLine="57800"><property name="QName" value="ix:continuation" /><property name="id" value="fact8306" /><property name="continuedAt" value="fact8311" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8311" sourceLine="57819"><property name="QName" value="ix:continuation" /><property name="id" value="fact8311" /><property name="continuedAt" value="fact8314" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8314" 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value="fact8495" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8495" sourceLine="62818"><property name="QName" value="ix:continuation" /><property name="id" value="fact8495" /><property name="continuedAt" value="fact8542" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8542" sourceLine="65487"><property name="QName" value="ix:continuation" /><property name="id" value="fact8542" /><property name="continuedAt" value="fact8543" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8543" sourceLine="65504"><property name="QName" value="ix:continuation" /><property name="id" value="fact8543" /><property name="continuedAt" value="fact8544" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8544" sourceLine="65554"><property name="QName" value="ix:continuation" /><property name="id" value="fact8544" /><property name="continuedAt" value="fact8545" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8545" sourceLine="65341"><property name="QName" value="ix:continuation" /><property name="id" value="fact8545" /></ref></entry><entry code="ESEF.2.2.6.textContentOrdering" level="warning"><message qname="ifrs-full:DisclosureOfBasisOfConsolidationExplanatory">2025-03-05 17:25:11,511 [ESEF.2.2.6.textContentOrdering] The text content of tagged fact should have same order as human-readable report, ix:continuation elements out of order:  ifrs-full:DisclosureOfBasisOfConsolidationExplanatory - NTG-2024-12-31-en.xhtml 53496, 53556, 53587, 53682, 53793
</message><ref href="NTG-2024-12-31-en.xhtml#fact8046" sourceLine="53556"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="53556" /><property name="label" value="ifrs-full:DisclosureOfBasisOfConsolidationExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DisclosureOfBasisOfConsolidationExplanatory" /><property name="QName" value="ifrs-full:DisclosureOfBasisOfConsolidationExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:14.5019em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_531 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0351em;&quot;&gt;Consolidation principles &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:15.2935em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_114&quot; style=&quot;word-spacing:-0.0357em;&quot;&gt;The consolidated financial statements comprise NTG Nordic Transport &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:16.085em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;Group A/S (Parent Company) and its subsidiaries. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;          &#xA;            &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:17.6268em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_618 stl_08 stl_410&quot;&gt;Subsidiaries &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:18.4184em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0354em;&quot;&gt;Subsidiaries are all entities over which the Group has control. The Group controls &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:19.21em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_117&quot; style=&quot;word-spacing:-0.0379em;&quot;&gt;an entity when the Group is exposed to, or has rights to, variable returns from &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:20.0015em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_56&quot; style=&quot;word-spacing:-0.0397em;&quot;&gt;its involvement with the entity and can affect those returns through its power &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:20.7931em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0362em;&quot;&gt;to direct the activities of the entity. Subsidiaries are fully consolidated from the &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:21.5847em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0356em;&quot;&gt;date on which control is transferred to the Group. They are deconsolidated from &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:22.3763em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_106&quot; style=&quot;word-spacing:-0.0347em;&quot;&gt;the date that control ceases. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;          &#xA;            &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:23.9595em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0343em;&quot;&gt;The acquisition method of accounting is used to account for business combina- &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:24.751em;z-index:2463;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_77&quot; style=&quot;word-spacing:-0.0324em;&quot;&gt;tions by the Group (note &lt;/span&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_669&quot;&gt;7&lt;/span&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_279&quot;&gt;.1). &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:26.3342em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_117&quot; style=&quot;word-spacing:-0.0379em;&quot;&gt;Consolidation is performed by summarising the financial statements of the &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:27.1258em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0381em;&quot;&gt;Parent Company and its subsidiaries. Intercompany transactions, balances, &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:27.9174em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0385em;&quot;&gt;and unrealised gains on transactions between Group entities are eliminated. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:28.709em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;Unrealised losses are also eliminated unless the transaction provides evidence of &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:29.5005em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_90&quot; style=&quot;word-spacing:-0.0349em;&quot;&gt;an impairment of the transferred asset. Accounting policies of subsidiaries have &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:30.2921em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.0381em;&quot;&gt;been changed where necessary to ensure consistency with the policies adopted &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:31.0837em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0358em;&quot;&gt;by the Group. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:32.6669em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0355em;&quot;&gt;Acquired or sold subsidiaries are recognised in the consolidated income state- &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:33.4585em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;ment for the period in which the Parent controls such entities. Comparative &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:34.25em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0375em;&quot;&gt;figures are not restated for recently acquired or sold entities. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;          &#xA;            &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:35.7918em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_618 stl_08 stl_195&quot;&gt;Associates &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:36.5834em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0357em;&quot;&gt;Associates are all entities over which the Group has significant influence, but not &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:37.3749em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0378em;&quot;&gt;control or joint control. This is generally the case when the Group holds between &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:38.1665em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_327&quot; style=&quot;word-spacing:-0.0355em;&quot;&gt;20% and 50% of the voting rights. Investments in associates are accounted for &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:38.9581em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;using the equity method of accounting, after initially being recognised at cost. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;          &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:10.4996em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_618 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0346em;&quot;&gt;Non-controlling interests &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:11.2912em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_114&quot; style=&quot;word-spacing:-0.036em;&quot;&gt;Non-controlling interests share of profit/loss for the year and of equity in &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:12.0828em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0357em;&quot;&gt;subsidiaries is included in the Groups profit/loss for the year and of the equity &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:12.8744em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0344em;&quot;&gt;of subsidiaries, respectively, but shown as separate items. Net profit for the year &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:13.6659em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0368em;&quot;&gt;is allocated to non-controlling interests using the ownership interests present on &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:14.4575em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_255&quot; style=&quot;word-spacing:-0.0403em;&quot;&gt;the reporting date. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:16.0407em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_212&quot; style=&quot;word-spacing:-0.0341em;&quot;&gt;Transactions with non-controlling interests that do not result in a change of con- &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:16.8323em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0383em;&quot;&gt;trol are recognised directly in equity. Such transactions result in an adjustment &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:17.6239em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.0391em;&quot;&gt;between the carrying amounts of the controlling and non-controlling interests &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:18.4154em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.038em;&quot;&gt;to reflect their relative interests in the subsidiary. Any difference between the &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:19.207em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_114&quot; style=&quot;word-spacing:-0.036em;&quot;&gt;amount of the adjustment to non-controlling interests and the consideration paid &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:19.9986em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_120&quot; style=&quot;word-spacing:-0.0388em;&quot;&gt;or received is recognised directly in retained earnings attributable to owners of &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:20.7902em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_73&quot; style=&quot;word-spacing:-0.0339em;&quot;&gt;NTG Nordic Transport Group A/S. &lt;/span&gt;&#xA;                &lt;/div&gt;" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8048" sourceLine="53587"><property name="QName" value="ix:continuation" /><property name="id" value="fact8048" /><property name="continuedAt" value="fact8051" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8051" sourceLine="53682"><property name="QName" value="ix:continuation" /><property name="id" value="fact8051" /><property name="continuedAt" value="fact8053" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8053" sourceLine="53793"><property name="QName" value="ix:continuation" /><property name="id" value="fact8053" /><property name="continuedAt" value="fact8057" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8057" sourceLine="53496"><property name="QName" value="ix:continuation" /><property name="id" value="fact8057" /></ref></entry><entry code="ESEF.2.2.6.textContentOrdering" level="warning"><message qname="ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations">2025-03-05 17:25:11,527 [ESEF.2.2.6.textContentOrdering] The text content of tagged fact should have same order as human-readable report, ix:continuation elements out of order:  ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations - NTG-2024-12-31-en.xhtml 53540, 53814
</message><ref href="NTG-2024-12-31-en.xhtml#fact8042" sourceLine="53814"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="53814" /><property name="label" value="ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations" /><property name="QName" value="ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:37.4607em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_531 stl_08 stl_119&quot; style=&quot;word-spacing:-0.0341em;&quot;&gt;New standards and interpretations not yet adopted &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:38.2523em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_117&quot; style=&quot;word-spacing:-0.0378em;&quot;&gt;Certain new accounting standards and interpretations have been published but &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:39.0439em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.0381em;&quot;&gt;are not mandatory for 31 December 2024 reporting. Management expects that &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;          &#xA;            &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:10.544em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_117&quot; style=&quot;word-spacing:-0.0379em;&quot;&gt;the issued standards and amendments not yet in effect will not have a significant &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:11.3355em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_85&quot; style=&quot;word-spacing:-0.0372em;&quot;&gt;impact on the Group's recognition and measurement policies. The Group has &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:12.1271em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_489&quot; style=&quot;word-spacing:-0.0392em;&quot;&gt;begun analyzing the impact of IFRS 18 on its financial statements and accompa- &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:12.9187em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_119&quot; style=&quot;word-spacing:-0.0346em;&quot;&gt;nying notes but has not yet completed the assessment. &lt;/span&gt;&#xA;              &lt;/div&gt;" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8044" sourceLine="53540"><property name="QName" value="ix:continuation" /><property name="id" value="fact8044" /></ref></entry><entry code="ESEF.2.2.6.textContentOrdering" level="warning"><message qname="ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory">2025-03-05 17:25:11,527 [ESEF.2.2.6.textContentOrdering] The text content of tagged fact should have same order as human-readable report, ix:continuation elements out of order:  ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory - NTG-2024-12-31-en.xhtml 53969, 54787, 60729, 60943, 62879, 63039, 63231
</message><ref href="NTG-2024-12-31-en.xhtml#fact8079" sourceLine="53969"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="53969" /><property name="label" value="ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DisclosureOfAccountingJudgementsAndEstimatesExplanatory" /><property name="QName" value="ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:20.4685em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_531 stl_08 stl_119&quot; style=&quot;word-spacing:-0.0338em;&quot;&gt;Accounting estimates and judgements &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:21.2601em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;The Group makes estimates, judgements and assumptions concerning the future. &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:22.0517em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0351em;&quot;&gt;The resulting accounting estimates rely on Management judgement and will, by &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:22.8432em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_56&quot; style=&quot;word-spacing:-0.0397em;&quot;&gt;definition, seldom equal the related actual results. &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:24.4264em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_117&quot; style=&quot;word-spacing:-0.0378em;&quot;&gt;Estimates, judgements and assumptions are based on historical experience and &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:25.218em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0376em;&quot;&gt;other factors that Management considers to be reliable, but which by their very &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:26.0096em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0376em;&quot;&gt;nature are associated with uncertainty and unpredictability. These assumptions &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:26.8012em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0367em;&quot;&gt;may prove incomplete or incorrect, and unexpected events or circumstances may &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:27.5927em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_117&quot; style=&quot;word-spacing:-0.0378em;&quot;&gt;arise. The estimates and assumptions deemed most significant to the preparation &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:28.3843em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0372em;&quot;&gt;of the consolidated financial statements are addressed below: &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:29.9675em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.7948em;top:29.9675em;z-index:2752;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_77&quot; style=&quot;word-spacing:-0.0324em;&quot;&gt;Acquisition and disposal of entities (note &lt;/span&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_669&quot;&gt;7&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_462&quot;&gt;.1) &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:30.7591em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.7948em;top:30.7591em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;Accrued revenue and accrued cost of services (note 2.2) &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:32.3422em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0363em;&quot;&gt;Refer to the specific notes for details on relevant accounting policies and further &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:33.1338em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0363em;&quot;&gt;description of significant estimates and assumptions used. &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:34.717em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_246&quot; style=&quot;word-spacing:-0.0405em;&quot;&gt;Risk factors specific to the Group are described in the management report from &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:35.5086em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_109&quot; style=&quot;word-spacing:-0.0199em;&quot;&gt;pages 31-35 and in note 6.4. &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;          &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:11.2054em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_114&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;Accrued revenue and accrued costs of services in progress at 31 December 2024 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:11.997em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_297&quot; style=&quot;word-spacing:-0.0395em;&quot;&gt;are presented on the line items trade receivables and trade payables, respective- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:12.7886em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0363em;&quot;&gt;ly. Accrued revenue is estimated and recognised when a sales transaction fulfils &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:13.5802em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_76&quot; style=&quot;word-spacing:-0.0336em;&quot;&gt;the criteria for revenue recognition, but no final invoice has yet been issued to &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:14.3717em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_234&quot; style=&quot;word-spacing:-0.04em;&quot;&gt;the customer at the end of the reporting period. Accrued costs are estimated &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:15.1633em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_195&quot; style=&quot;word-spacing:-0.0333em;&quot;&gt;and recognised when supplier invoices relating to recognised revenue for the &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:15.9549em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_114&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;reporting period have yet to be received. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:4.9604em;top:29.1028em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_630 stl_08 stl_106&quot; style=&quot;word-spacing:-0.0341em;&quot;&gt;Accounting estimates and judgments &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:30.0192em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_163&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;Estimates and assumptions are an integrated part of assessing fair values etc. in &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:30.8108em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_165&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;accordance with the acquisition method of accounting, as observable market prices &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:31.6024em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_373&quot; style=&quot;word-spacing:-0.0397em;&quot;&gt;are seldom available for the acquired assets and liabilities. Assessments are carried &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:32.3939em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_247&quot; style=&quot;word-spacing:-0.0354em;&quot;&gt;out using Managements judgement with regards to future cash flows and other &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:33.1855em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_122&quot; style=&quot;word-spacing:-0.0393em;&quot;&gt;input factors to the valuation models used. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:34.7687em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_191&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;The excess of the consideration transferred over the fair value of the net identi- &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:35.5603em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_183&quot; style=&quot;word-spacing:-0.0381em;&quot;&gt;fiable assets acquired is recorded as goodwill. If those amounts are less than the &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:36.3519em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_318&quot; style=&quot;word-spacing:-0.0376em;&quot;&gt;fair value of the net identifiable assets of the business acquired, the difference is &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:37.1434em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_201&quot; style=&quot;word-spacing:-0.0367em;&quot;&gt;recognised directly in profit or loss as a bargain purchase. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:10.5224em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_346&quot; style=&quot;word-spacing:-0.0386em;&quot;&gt;Where settlement of any part of a cash consideration is deferred, the amounts &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:11.314em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_384&quot; style=&quot;word-spacing:-0.0342em;&quot;&gt;payable in the future are discounted to their present value as at the date of &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:12.1056em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_173&quot; style=&quot;word-spacing:-0.0356em;&quot;&gt;exchange. The discount rate used is the entitys incremental borrowing rate, being &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:12.8972em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_201&quot; style=&quot;word-spacing:-0.0367em;&quot;&gt;the rate at which a similar borrowing could be obtained from an independent &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:13.6888em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_346&quot; style=&quot;word-spacing:-0.0385em;&quot;&gt;financier under comparable terms and conditions. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:15.2719em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_168&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;Contingent considerations are classified either as equity or financial liabilities. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:16.0635em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_201&quot; style=&quot;word-spacing:-0.0367em;&quot;&gt;Amounts classified as financial liabilities are subsequently remeasured to fair value &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:16.8551em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_165&quot; style=&quot;word-spacing:-0.0358em;&quot;&gt;with changes in fair value recognised in profit or loss. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:18.4383em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_163&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;If measurement of the identifiable net assets is uncertain at the date of acquisition, &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:19.2298em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_201&quot; style=&quot;word-spacing:-0.0367em;&quot;&gt;initial recognition is done based on provisional amounts. Measurement period ad- &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:20.0214em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_247&quot; style=&quot;word-spacing:-0.0356em;&quot;&gt;justments to the provisional amounts may be done for up to 12 months following &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:20.813em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_172&quot; style=&quot;word-spacing:-0.0328em;&quot;&gt;the date of acquisition. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:4.9604em;top:33.3896em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_630 stl_08 stl_106&quot; style=&quot;word-spacing:-0.0341em;&quot;&gt;Accounting estimates and judgments &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:34.3061em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;Generally, pension plans within the Group are defined contribution plans, where &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:35.0976em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0363em;&quot;&gt;contributions are recognised in the income statement on an accrual basis. These &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:35.8892em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_85&quot; style=&quot;word-spacing:-0.0371em;&quot;&gt;types of pension plans do not require material estimates. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:37.4724em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.0381em;&quot;&gt;For defined benefit plans, annual actuarial calculations are made of the net &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:38.264em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_120&quot; style=&quot;word-spacing:-0.0389em;&quot;&gt;present value of future benefits to be paid under the plan. The net present value &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:39.0556em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_114&quot; style=&quot;word-spacing:-0.036em;&quot;&gt;is calculated based on assumptions of the future developments of salary, interest, &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:10.4285em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_234&quot; style=&quot;word-spacing:-0.0401em;&quot;&gt;inflation, and mortality rates. Assumptions are assessed at the reporting date and &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:11.2201em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0367em;&quot;&gt;changes in these assumptions may significantly affect the liabilities and pension &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:12.0116em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_246&quot; style=&quot;word-spacing:-0.0401em;&quot;&gt;cost under defined benefit plans. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:13.5948em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.0382em;&quot;&gt;Below is shown the most important assumptions made when determining the net &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:14.3864em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0374em;&quot;&gt;present value of the defined benefit plans and a sensitivity analysis relating to &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:15.178em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0371em;&quot;&gt;these assumptions. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:16.7611em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_211 stl_08 stl_357&quot; style=&quot;word-spacing:-0.0409em;&quot;&gt;Most important assumptions for actuarial calculations &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:45.5459em;top:18.2324em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_175&quot;&gt;Weighted &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:36.758em;top:18.9825em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_295&quot;&gt;Germany &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:40.762em;top:18.9825em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_210&quot;&gt;Switzerland &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.0557em;top:18.9825em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_44&quot;&gt;average &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:20.6923em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:21.6933em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_230&quot; style=&quot;word-spacing:0.0075em;&quot;&gt;Discount rate &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:37.514em;top:21.6933em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;3.41% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.2384em;top:21.6933em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.80% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.4903em;top:21.6933em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1.89% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:22.6943em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_22&quot; style=&quot;word-spacing:-0.003em;&quot;&gt;Future salary increase &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:37.514em;top:22.6943em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.00% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.2384em;top:22.6943em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.00% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.4903em;top:22.6943em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1.99% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:23.6953em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_400&quot; style=&quot;word-spacing:-0.0078em;&quot;&gt;Mortality prognosis table&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot; style=&quot;word-spacing:0.574em;&quot;&gt;&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_230&quot; style=&quot;word-spacing:-0.0018em;&quot;&gt;RT Heubeck 2018 G &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:40.2766em;top:23.6953em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_37&quot; style=&quot;word-spacing:0.0118em;&quot;&gt;BVG 2020 GT &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:45.5459em;top:26.2527em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_175&quot;&gt;Weighted &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:36.758em;top:27.0028em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_295&quot;&gt;Germany &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:40.762em;top:27.0028em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_210&quot;&gt;Switzerland &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.0557em;top:27.0028em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_44&quot;&gt;average &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:28.7126em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:29.7136em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_230&quot; style=&quot;word-spacing:0.0075em;&quot;&gt;Discount rate &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:37.514em;top:29.7136em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;3.47% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.2384em;top:29.7136em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1.50% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.4903em;top:29.7136em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.36% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:30.7146em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_22&quot; style=&quot;word-spacing:-0.003em;&quot;&gt;Future salary increase &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:37.514em;top:30.7146em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.00% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.2384em;top:30.7146em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.00% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.4903em;top:30.7146em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.00% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:31.7156em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_400&quot; style=&quot;word-spacing:-0.0078em;&quot;&gt;Mortality prognosis table&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot; style=&quot;word-spacing:0.574em;&quot;&gt;&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_230&quot; style=&quot;word-spacing:-0.0018em;&quot;&gt;RT Heubeck 2018 G &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:40.2766em;top:31.7156em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_37&quot; style=&quot;word-spacing:0.0118em;&quot;&gt;BVG 2020 GT &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:34.0664em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;Under defined benefit plans, the employer is obliged to pay a defined benefit (for &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:34.858em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_327&quot; style=&quot;word-spacing:-0.0354em;&quot;&gt;example a fixed percentage of an employees final salary) to the employee after &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:35.6496em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_297&quot; style=&quot;word-spacing:-0.0396em;&quot;&gt;retirement. The Group thereby carries a risk with respect of future developments &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:36.4412em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_117&quot; style=&quot;word-spacing:-0.038em;&quot;&gt;in interest rates, inflation, mortality and disability. &lt;/span&gt;&#xA;                &lt;/div&gt;" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8109" sourceLine="54787"><property name="QName" value="ix:continuation" /><property name="id" value="fact8109" /><property name="continuedAt" value="fact8426" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8426" sourceLine="60943"><property name="QName" value="ix:continuation" /><property name="id" value="fact8426" /><property name="continuedAt" value="fact8428" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8428" sourceLine="60729"><property name="QName" value="ix:continuation" /><property name="id" value="fact8428" /><property name="continuedAt" value="fact8501" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8501" sourceLine="63231"><property name="QName" value="ix:continuation" /><property name="id" value="fact8501" /><property name="continuedAt" value="fact8504" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8504" sourceLine="62879"><property name="QName" value="ix:continuation" /><property name="id" value="fact8504" /><property name="continuedAt" value="fact8507" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8507" sourceLine="63039"><property name="QName" value="ix:continuation" /><property name="id" value="fact8507" /></ref></entry><entry code="ESEF.2.2.6.textContentOrdering" level="warning"><message qname="ifrs-full:DisclosureOfCashFlowStatementExplanatory">2025-03-05 17:25:11,527 [ESEF.2.2.6.textContentOrdering] The text content of tagged fact should have same order as human-readable report, ix:continuation elements out of order:  ifrs-full:DisclosureOfCashFlowStatementExplanatory - NTG-2024-12-31-en.xhtml 53876, 54027, 58943
</message><ref href="NTG-2024-12-31-en.xhtml#fact8071" sourceLine="54027"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="54027" /><property name="label" value="ifrs-full:DisclosureOfCashFlowStatementExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DisclosureOfCashFlowStatementExplanatory" /><property name="QName" value="ifrs-full:DisclosureOfCashFlowStatementExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:26.016em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_531 stl_08 stl_126&quot; style=&quot;word-spacing:-0.03em;&quot;&gt;Statement of cash flow &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:26.8076em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0357em;&quot;&gt;The cash flow statement shows the Group's cash flows during the year distribut- &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:27.5992em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_320&quot; style=&quot;word-spacing:-0.0386em;&quot;&gt;ed on operating, investing, and financing activities, including changes in cash and &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:28.3908em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;cash equivalents at the beginning and at the end of the year. The cash flow state- &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:29.1823em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.0393em;&quot;&gt;ment cannot be derived directly from the balance sheet and income statement. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:30.7655em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_480&quot; style=&quot;word-spacing:-0.0396em;&quot;&gt;Cash flows from operating activities are calculated using the indirect method &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:31.5571em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0362em;&quot;&gt;and as operating profit before special items (EBIT) for the year adjusted for &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:32.3487em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_85&quot; style=&quot;word-spacing:-0.037em;&quot;&gt;changes in working capital and non-cash operating items such as depreciation, &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:33.1403em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0384em;&quot;&gt;amortisation and impairment losses, and provisions. Working capital comprises &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:33.9318em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0351em;&quot;&gt;current assets less short-term debt excluding items included in cash and cash &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:34.7234em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_532&quot;&gt;equivalents. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:36.3066em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;Cash flows from investing activities comprise cash flows from acquisitions and &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:37.0982em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.037em;&quot;&gt;disposals of intangible assets, property, plant and equipment as well as fixed &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:37.8898em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_489&quot; style=&quot;word-spacing:-0.0388em;&quot;&gt;asset investments. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;          &#xA;            &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:9.3863em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0382em;&quot;&gt;Cash flows from financing activities comprise cash flows from the raising and &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:10.1779em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_212&quot; style=&quot;word-spacing:-0.0342em;&quot;&gt;repayment of long-term debt, including servicing of leasing liabilities, as well as &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:10.9695em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_246&quot; style=&quot;word-spacing:-0.0403em;&quot;&gt;payments to and from shareholders. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:12.5527em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0372em;&quot;&gt;Cash and cash equivalents include cash on hand and short-term liquid assets that &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:13.3442em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0373em;&quot;&gt;are readily convertible to cash. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;          &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:10.2265em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_211 stl_08 stl_56&quot; style=&quot;word-spacing:-0.0392em;&quot;&gt;Cash flow related to leasing contracts &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:11.1715em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:66.1583em;top:11.1715em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:69.9377em;top:11.1715em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:12.8813em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_396&quot; style=&quot;word-spacing:0.0016em;&quot;&gt;Expense relating to short-term leases (included in &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:13.6314em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_139&quot; style=&quot;word-spacing:0.0008em;&quot;&gt;direct costs and other external expenses) &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:66.8344em;top:13.6314em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;16 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6138em;top:13.6314em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;27 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3925em;top:14.6324em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_397&quot; style=&quot;word-spacing:0.0006em;&quot;&gt;Expense relating to leases of low-value assets &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3925em;top:15.3826em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_270&quot; style=&quot;word-spacing:0.0031em;&quot;&gt;that are not short-term leases (included in direct costs &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3925em;top:16.1328em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_24&quot; style=&quot;word-spacing:-0.0023em;&quot;&gt;and other external expenses) &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:67.1721em;top:16.1328em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;6&lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:70.9515em;top:16.1328em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.392em;top:17.1338em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_263&quot; style=&quot;word-spacing:0.0029em;&quot;&gt;Interest expenses on lease liabilities &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:66.8332em;top:17.1338em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;48 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6126em;top:17.1338em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;37 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3914em;top:18.1348em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_661&quot; style=&quot;word-spacing:0.0116em;&quot;&gt;Lease repayments &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:66.4943em;top:18.1348em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;234 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:70.2737em;top:18.1348em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;211 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3908em;top:19.1358em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_400&quot; style=&quot;word-spacing:-0.0041em;&quot;&gt;The total cash outflow for leases &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:66.4937em;top:19.1358em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;304 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:70.2731em;top:19.1358em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;276 &lt;/span&gt;&#xA;              &lt;/div&gt;" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8074" sourceLine="53876"><property name="QName" value="ix:continuation" /><property name="id" value="fact8074" /><property name="continuedAt" value="fact8370" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8370" sourceLine="58943"><property name="QName" value="ix:continuation" /><property name="id" value="fact8370" /></ref></entry><entry code="ESEF.2.2.6.textContentOrdering" level="warning"><message qname="ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory">2025-03-05 17:25:11,527 [ESEF.2.2.6.textContentOrdering] The text content of tagged fact should have same order as human-readable report, ix:continuation elements out of order:  ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory - NTG-2024-12-31-en.xhtml 53877, 54028
</message><ref href="NTG-2024-12-31-en.xhtml#fact8072" sourceLine="54028"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="54028" /><property name="label" value="ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DescriptionOfAccountingPolicyForCashFlowsExplanatory" /><property name="QName" value="ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:26.016em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_531 stl_08 stl_126&quot; style=&quot;word-spacing:-0.03em;&quot;&gt;Statement of cash flow &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:26.8076em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0357em;&quot;&gt;The cash flow statement shows the Group's cash flows during the year distribut- &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:27.5992em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_320&quot; style=&quot;word-spacing:-0.0386em;&quot;&gt;ed on operating, investing, and financing activities, including changes in cash and &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:28.3908em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;cash equivalents at the beginning and at the end of the year. The cash flow state- &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:29.1823em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.0393em;&quot;&gt;ment cannot be derived directly from the balance sheet and income statement. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:30.7655em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_480&quot; style=&quot;word-spacing:-0.0396em;&quot;&gt;Cash flows from operating activities are calculated using the indirect method &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:31.5571em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0362em;&quot;&gt;and as operating profit before special items (EBIT) for the year adjusted for &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:32.3487em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_85&quot; style=&quot;word-spacing:-0.037em;&quot;&gt;changes in working capital and non-cash operating items such as depreciation, &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:33.1403em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0384em;&quot;&gt;amortisation and impairment losses, and provisions. Working capital comprises &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:33.9318em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0351em;&quot;&gt;current assets less short-term debt excluding items included in cash and cash &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:34.7234em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_532&quot;&gt;equivalents. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:36.3066em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;Cash flows from investing activities comprise cash flows from acquisitions and &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:37.0982em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.037em;&quot;&gt;disposals of intangible assets, property, plant and equipment as well as fixed &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:37.8898em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_489&quot; style=&quot;word-spacing:-0.0388em;&quot;&gt;asset investments. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:9.3863em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0382em;&quot;&gt;Cash flows from financing activities comprise cash flows from the raising and &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:10.1779em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_212&quot; style=&quot;word-spacing:-0.0342em;&quot;&gt;repayment of long-term debt, including servicing of leasing liabilities, as well as &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:10.9695em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_246&quot; style=&quot;word-spacing:-0.0403em;&quot;&gt;payments to and from shareholders. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:12.5527em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0372em;&quot;&gt;Cash and cash equivalents include cash on hand and short-term liquid assets that &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:13.3442em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0373em;&quot;&gt;are readily convertible to cash. &lt;/span&gt;&#xA;                &lt;/div&gt;" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8075" sourceLine="53877"><property name="QName" value="ix:continuation" /><property name="id" value="fact8075" /></ref></entry><entry code="ESEF.2.2.6.textContentOrdering" level="warning"><message qname="ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory">2025-03-05 17:25:11,527 [ESEF.2.2.6.textContentOrdering] The text content of tagged fact should have same order as human-readable report, ix:continuation elements out of order:  ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory - NTG-2024-12-31-en.xhtml 54119, 54129, 54318, 54348, 54373, 54392, 54430, 54513
</message><ref href="NTG-2024-12-31-en.xhtml#fact8080" sourceLine="54119"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="54119" /><property name="label" value="ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DisclosureOfEntitysReportableSegmentsExplanatory" /><property name="QName" value="ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:9.3545em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_305 stl_08 stl_194&quot; style=&quot;word-spacing:0.2978em;&quot;&gt;2. Profit&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_305 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0118em;&quot;&gt;&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_305 stl_08 stl_355&quot; style=&quot;word-spacing:-0.0171em;&quot;&gt;for the year &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:10.5469em;z-index:96;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_308&quot; style=&quot;word-spacing:-0.0351em;&quot;&gt;This section includes disclosures on components of consolidated profit for the year. &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;          &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:12.9216em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_531 stl_08 stl_56&quot; style=&quot;word-spacing:0.3004em;&quot;&gt;2.1 Segment&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_531 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0198em;&quot;&gt;&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_531 stl_08 stl_329&quot;&gt;information &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:4.9604em;top:13.8664em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_630 stl_08 stl_329&quot; style=&quot;word-spacing:-0.0316em;&quot;&gt;Accounting policies &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:14.7414em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0384em;&quot;&gt;Management monitors the operating results of its business units separately for &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:15.5329em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_120&quot; style=&quot;word-spacing:-0.0388em;&quot;&gt;the purpose of making decisions about resource allocation and performance &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:16.3245em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0377em;&quot;&gt;assessment. Segment performance is evaluated based on operating profit or loss &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:17.1161em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_327&quot; style=&quot;word-spacing:-0.0355em;&quot;&gt;before special items and is measured consistently with operating profit or loss in &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:17.9077em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_90&quot; style=&quot;word-spacing:-0.0345em;&quot;&gt;the consolidated statement of income. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:19.4909em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_531 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0377em;&quot;&gt;Operating segments &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:20.2824em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;The Groups business operations are carried out by two divisions, forming the &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:21.074em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_114&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;basis for the Groups segment reporting. Information on business segments is &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:21.8656em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.038em;&quot;&gt;based on the Groups risk and returns and its internal financial reporting system. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:22.6572em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0367em;&quot;&gt;The segmentation is a direct match to the Groups management structure, with a &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:23.4488em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0377em;&quot;&gt;responsible CEO for each of the two operating segments. Business segments are &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:24.2403em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_271&quot; style=&quot;word-spacing:-0.0428em;&quot;&gt;regarded as the primary segments. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:25.8235em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_255&quot; style=&quot;word-spacing:-0.0404em;&quot;&gt;All intersegment transactions and settlements are carried out on an arms length &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:26.6151em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_76&quot;&gt;basis. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:28.1568em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_670 stl_08 stl_116&quot; style=&quot;word-spacing:-0.0324em;&quot;&gt;Road &amp;amp; Logistics &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:28.9484em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0382em;&quot;&gt;The Road &amp;amp; Logistics division provides transport and warehousing solutions with &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:29.74em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;a geographical focus on Europe. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:31.2818em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_670 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0375em;&quot;&gt;Air &amp;amp; Ocean &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:32.0733em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;The Air &amp;amp; Ocean division provides international air and ocean freight services, &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:32.8649em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_359&quot; style=&quot;word-spacing:-0.0435em;&quot;&gt;including project transports. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:34.4067em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_670 stl_08 stl_195&quot; style=&quot;word-spacing:-0.0332em;&quot;&gt;Major customers &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:35.1983em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_119&quot; style=&quot;word-spacing:-0.0346em;&quot;&gt;The Group has no customers contributing revenue of more than 10 % of total &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:35.9898em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_327&quot; style=&quot;word-spacing:-0.0356em;&quot;&gt;revenue and the Group is therefore not reliant on any major customers. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;            &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.7531em;top:12.8663em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_466&quot; style=&quot;word-spacing:0.0098em;&quot;&gt;Road &amp;amp; Logistics &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.8836em;top:12.8663em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_24&quot; style=&quot;word-spacing:-0.006em;&quot;&gt;Air &amp;amp; Ocean &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:67.3833em;top:12.8663em;z-index:1310;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_282&quot;&gt;tal &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:13.8084em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:51.0879em;top:13.8084em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.8673em;top:13.8084em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.6467em;top:13.8084em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.4261em;top:13.8084em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.2056em;top:13.8084em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.985em;top:13.8084em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0861em;top:15.5181em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_391&quot; style=&quot;word-spacing:0.0086em;&quot;&gt;Segment revenue &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.9549em;top:15.5181em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;6,640 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.7343em;top:15.5181em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;6,238 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.5137em;top:15.5181em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2,745 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.2932em;top:15.5181em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2,133 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.0726em;top:15.5181em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;9,385 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.852em;top:15.5181em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;8,371 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0855em;top:16.5191em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_22&quot; style=&quot;word-spacing:0.0091em;&quot;&gt;Revenue (between segments) &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:51.5464em;top:16.5191em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-22 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:55.3258em;top:16.5191em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-26 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:59.1052em;top:16.5191em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-11 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:63.223em;top:16.5191em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-7 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.6641em;top:16.5191em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-33 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.4435em;top:16.5191em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-33 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0849em;top:17.5201em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_388&quot; style=&quot;word-spacing:0.0127em;&quot;&gt;Revenue (external) &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.9538em;top:17.5201em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;6,618 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.7332em;top:17.5201em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;6,212 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.5126em;top:17.5201em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2,734 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.292em;top:17.5201em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2,126 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.0714em;top:17.5201em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;9,352 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.8508em;top:17.5201em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;8,338 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0843em;top:18.5211em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_293&quot; style=&quot;word-spacing:0.0077em;&quot;&gt;Gross profit &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.9456em;top:18.5211em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,447 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.725em;top:18.5211em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,386 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.9828em;top:18.5211em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;526 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.7622em;top:18.5211em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;480 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.0633em;top:18.5211em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,973 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.8427em;top:18.5211em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,866 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0838em;top:19.5221em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_263&quot; style=&quot;word-spacing:0.0029em;&quot;&gt;Amortisation and depreciation &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:51.2063em;top:19.5221em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_282&quot;&gt;-239 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.9858em;top:19.5221em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_282&quot;&gt;-205 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:59.1035em;top:19.5221em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-21 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.8829em;top:19.5221em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-18 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.324em;top:19.5221em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_282&quot;&gt;-260 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.1034em;top:19.5221em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_282&quot;&gt;-223 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0832em;top:20.5231em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_279&quot; style=&quot;word-spacing:0.0052em;&quot;&gt;Operating profit before special items &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:51.4228em;top:20.5231em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;393 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:55.2022em;top:20.5231em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;467 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.9816em;top:20.5231em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;131 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.761em;top:20.5231em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;163 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.5404em;top:20.5231em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;524 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.3199em;top:20.5231em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;630 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0826em;top:21.5241em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_218&quot; style=&quot;word-spacing:0.0087em;&quot;&gt;Gross margin % &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.8167em;top:21.5241em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;21.9% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.5961em;top:21.5241em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;22.3% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.3755em;top:21.5241em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;19.2% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.155em;top:21.5241em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;22.6% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:65.9344em;top:21.5241em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;21.1% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.7138em;top:21.5241em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;22.4% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:22.8575em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_254 stl_08 stl_489&quot; style=&quot;word-spacing:-0.0392em;&quot;&gt;Note: Total assets and liabilities for each segment is not reported because such amounts are not regularly provided to the Chief Operating Decisions Maker. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;          &#xA;            &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:25.031em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_618 stl_08 stl_90&quot; style=&quot;word-spacing:-0.0344em;&quot;&gt;Geographical information &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:25.8226em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0356em;&quot;&gt;The following table present information regarding the Groups geographical seg- &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:26.6142em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;ments on revenue, and non-current assets, both of which are allocated according &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:27.4058em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0376em;&quot;&gt;to the country in which the individual consolidated entity is based. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;          &#xA;            &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:28.989em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_211 stl_08 stl_257&quot; style=&quot;word-spacing:-0.038em;&quot;&gt;Net revenue per country &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:29.9314em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.8594em;top:29.9314em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.6388em;top:29.9314em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:31.6411em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_148&quot;&gt;Denmark &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.727em;top:31.6411em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;3,489 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.5064em;top:31.6411em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2,884 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:32.6421em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_470&quot;&gt;USA &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.727em;top:32.6421em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,357 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.5064em;top:32.6421em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,124 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:33.6431em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_22&quot;&gt;Sweden &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.727em;top:33.6431em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,270 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.5064em;top:33.6431em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,440 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:34.6441em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_135&quot;&gt;Germany &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:43.1977em;top:34.6441em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;665 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.9771em;top:34.6441em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;499 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:35.6451em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;Finland &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:43.1977em;top:35.6451em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;582 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.9771em;top:35.6451em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;620 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:36.6461em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;Other &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.727em;top:36.6461em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,989 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.5064em;top:36.6461em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,771 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:37.6471em;z-index:2138;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_282&quot;&gt;tal &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.7194em;top:37.6471em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;9,352 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.4988em;top:37.6471em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;8,338 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;          &#xA;            &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:28.9992em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_211 stl_08 stl_256&quot; style=&quot;word-spacing:-0.042em;&quot;&gt;Non-current assets per country* &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:29.9416em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.1665em;top:29.9416em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.9459em;top:29.9416em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:31.6513em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_148&quot;&gt;Denmark &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.034em;top:31.6513em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,272 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.8135em;top:31.6513em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,210 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:32.6523em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_135&quot;&gt;Germany &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.5048em;top:32.6523em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;721 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6225em;top:32.6523em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;59 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:33.6533em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_470&quot;&gt;USA &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.5048em;top:33.6533em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;559 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.2842em;top:33.6533em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;531 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:34.6701em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_22&quot;&gt;Sweden &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.5048em;top:34.6701em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;168 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.2842em;top:34.6701em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;182 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:35.6711em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_282&quot;&gt;Finland &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.8431em;top:35.6711em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;78 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6226em;top:35.6711em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;89 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:36.6721em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;Other &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.5048em;top:36.6721em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;259 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.2842em;top:36.6721em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;259 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:37.6731em;z-index:2277;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_282&quot;&gt;tal &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.0265em;top:37.6731em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;3,057 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.8059em;top:37.6731em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2,330 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:39.0063em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_671 stl_08 stl_345&quot; style=&quot;word-spacing:-0.0418em;&quot;&gt;*?Non-current assets less tax assets &lt;/span&gt;&#xA;                &lt;/div&gt;" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8082" sourceLine="54318"><property name="QName" value="ix:continuation" /><property name="id" value="fact8082" /><property name="continuedAt" value="fact8086" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8086" sourceLine="54348"><property name="QName" value="ix:continuation" /><property name="id" value="fact8086" /><property name="continuedAt" value="fact8088" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8088" sourceLine="54392"><property name="QName" value="ix:continuation" /><property name="id" value="fact8088" /><property name="continuedAt" value="fact8090" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8090" sourceLine="54129"><property name="QName" value="ix:continuation" /><property name="id" value="fact8090" /><property name="continuedAt" value="fact8093" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8093" sourceLine="54373"><property name="QName" value="ix:continuation" /><property name="id" value="fact8093" /><property name="continuedAt" value="fact8096" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8096" sourceLine="54430"><property name="QName" value="ix:continuation" /><property name="id" value="fact8096" /><property name="continuedAt" value="fact8099" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8099" sourceLine="54513"><property name="QName" value="ix:continuation" /><property name="id" value="fact8099" /></ref></entry><entry code="ESEF.2.2.6.textContentOrdering" level="warning"><message qname="ifrs-full:DisclosureOfRevenueExplanatory">2025-03-05 17:25:11,527 [ESEF.2.2.6.textContentOrdering] The text content of tagged fact should have same order as human-readable report, ix:continuation elements out of order:  ifrs-full:DisclosureOfRevenueExplanatory - NTG-2024-12-31-en.xhtml 54130, 54374, 54391, 54431, 54514, 54644, 54784
</message><ref href="NTG-2024-12-31-en.xhtml#fact8087" sourceLine="54391"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="54391" /><property name="label" value="ifrs-full:DisclosureOfRevenueExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DisclosureOfRevenueExplanatory" /><property name="QName" value="ifrs-full:DisclosureOfRevenueExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:25.8235em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_255&quot; style=&quot;word-spacing:-0.0404em;&quot;&gt;All intersegment transactions and settlements are carried out on an arms length &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:26.6151em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_76&quot;&gt;basis. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:28.1568em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_670 stl_08 stl_116&quot; style=&quot;word-spacing:-0.0324em;&quot;&gt;Road &amp;amp; Logistics &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:28.9484em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0382em;&quot;&gt;The Road &amp;amp; Logistics division provides transport and warehousing solutions with &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:29.74em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;a geographical focus on Europe. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:31.2818em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_670 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0375em;&quot;&gt;Air &amp;amp; Ocean &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:32.0733em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;The Air &amp;amp; Ocean division provides international air and ocean freight services, &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:32.8649em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_359&quot; style=&quot;word-spacing:-0.0435em;&quot;&gt;including project transports. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:34.4067em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_670 stl_08 stl_195&quot; style=&quot;word-spacing:-0.0332em;&quot;&gt;Major customers &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:35.1983em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_119&quot; style=&quot;word-spacing:-0.0346em;&quot;&gt;The Group has no customers contributing revenue of more than 10 % of total &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:35.9898em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_327&quot; style=&quot;word-spacing:-0.0356em;&quot;&gt;revenue and the Group is therefore not reliant on any major customers. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;          &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.7531em;top:12.8663em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_466&quot; style=&quot;word-spacing:0.0098em;&quot;&gt;Road &amp;amp; Logistics &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.8836em;top:12.8663em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_24&quot; style=&quot;word-spacing:-0.006em;&quot;&gt;Air &amp;amp; Ocean &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:67.3833em;top:12.8663em;z-index:1310;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_282&quot;&gt;tal &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:13.8084em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:51.0879em;top:13.8084em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.8673em;top:13.8084em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.6467em;top:13.8084em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.4261em;top:13.8084em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.2056em;top:13.8084em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.985em;top:13.8084em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0861em;top:15.5181em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_391&quot; style=&quot;word-spacing:0.0086em;&quot;&gt;Segment revenue &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.9549em;top:15.5181em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;6,640 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.7343em;top:15.5181em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;6,238 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.5137em;top:15.5181em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2,745 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.2932em;top:15.5181em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2,133 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.0726em;top:15.5181em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;9,385 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.852em;top:15.5181em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;8,371 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0855em;top:16.5191em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_22&quot; style=&quot;word-spacing:0.0091em;&quot;&gt;Revenue (between segments) &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:51.5464em;top:16.5191em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-22 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:55.3258em;top:16.5191em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-26 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:59.1052em;top:16.5191em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-11 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:63.223em;top:16.5191em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-7 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.6641em;top:16.5191em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-33 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.4435em;top:16.5191em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-33 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0849em;top:17.5201em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_388&quot; style=&quot;word-spacing:0.0127em;&quot;&gt;Revenue (external) &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.9538em;top:17.5201em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;6,618 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.7332em;top:17.5201em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;6,212 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.5126em;top:17.5201em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2,734 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.292em;top:17.5201em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2,126 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.0714em;top:17.5201em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;9,352 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.8508em;top:17.5201em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;8,338 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0843em;top:18.5211em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_293&quot; style=&quot;word-spacing:0.0077em;&quot;&gt;Gross profit &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.9456em;top:18.5211em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,447 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.725em;top:18.5211em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,386 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.9828em;top:18.5211em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;526 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.7622em;top:18.5211em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;480 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.0633em;top:18.5211em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,973 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.8427em;top:18.5211em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,866 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0838em;top:19.5221em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_263&quot; style=&quot;word-spacing:0.0029em;&quot;&gt;Amortisation and depreciation &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:51.2063em;top:19.5221em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_282&quot;&gt;-239 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.9858em;top:19.5221em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_282&quot;&gt;-205 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:59.1035em;top:19.5221em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-21 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.8829em;top:19.5221em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-18 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.324em;top:19.5221em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_282&quot;&gt;-260 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.1034em;top:19.5221em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_282&quot;&gt;-223 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0832em;top:20.5231em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_279&quot; style=&quot;word-spacing:0.0052em;&quot;&gt;Operating profit before special items &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:51.4228em;top:20.5231em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;393 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:55.2022em;top:20.5231em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;467 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.9816em;top:20.5231em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;131 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.761em;top:20.5231em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;163 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.5404em;top:20.5231em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;524 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.3199em;top:20.5231em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;630 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0826em;top:21.5241em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_218&quot; style=&quot;word-spacing:0.0087em;&quot;&gt;Gross margin % &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.8167em;top:21.5241em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;21.9% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.5961em;top:21.5241em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;22.3% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.3755em;top:21.5241em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;19.2% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.155em;top:21.5241em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;22.6% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:65.9344em;top:21.5241em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;21.1% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.7138em;top:21.5241em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;22.4% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:22.8575em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_254 stl_08 stl_489&quot; style=&quot;word-spacing:-0.0392em;&quot;&gt;Note: Total assets and liabilities for each segment is not reported because such amounts are not regularly provided to the Chief Operating Decisions Maker. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:25.031em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_618 stl_08 stl_90&quot; style=&quot;word-spacing:-0.0344em;&quot;&gt;Geographical information &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:25.8226em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0356em;&quot;&gt;The following table present information regarding the Groups geographical seg- &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:26.6142em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;ments on revenue, and non-current assets, both of which are allocated according &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:27.4058em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0376em;&quot;&gt;to the country in which the individual consolidated entity is based. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:28.989em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_211 stl_08 stl_257&quot; style=&quot;word-spacing:-0.038em;&quot;&gt;Net revenue per country &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:29.9314em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.8594em;top:29.9314em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.6388em;top:29.9314em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:31.6411em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_148&quot;&gt;Denmark &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.727em;top:31.6411em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;3,489 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.5064em;top:31.6411em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2,884 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:32.6421em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_470&quot;&gt;USA &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.727em;top:32.6421em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,357 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.5064em;top:32.6421em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,124 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:33.6431em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_22&quot;&gt;Sweden &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.727em;top:33.6431em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,270 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.5064em;top:33.6431em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,440 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:34.6441em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_135&quot;&gt;Germany &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:43.1977em;top:34.6441em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;665 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.9771em;top:34.6441em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;499 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:35.6451em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;Finland &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:43.1977em;top:35.6451em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;582 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.9771em;top:35.6451em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;620 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:36.6461em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;Other &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.727em;top:36.6461em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,989 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.5064em;top:36.6461em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,771 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:37.6471em;z-index:2138;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_282&quot;&gt;tal &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.7194em;top:37.6471em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;9,352 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.4988em;top:37.6471em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;8,338 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:28.9992em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_211 stl_08 stl_256&quot; style=&quot;word-spacing:-0.042em;&quot;&gt;Non-current assets per country* &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:29.9416em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.1665em;top:29.9416em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.9459em;top:29.9416em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:31.6513em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_148&quot;&gt;Denmark &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.034em;top:31.6513em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,272 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.8135em;top:31.6513em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,210 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:32.6523em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_135&quot;&gt;Germany &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.5048em;top:32.6523em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;721 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6225em;top:32.6523em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;59 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:33.6533em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_470&quot;&gt;USA &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.5048em;top:33.6533em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;559 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.2842em;top:33.6533em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;531 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:34.6701em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_22&quot;&gt;Sweden &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.5048em;top:34.6701em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;168 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.2842em;top:34.6701em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;182 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:35.6711em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_282&quot;&gt;Finland &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.8431em;top:35.6711em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;78 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6226em;top:35.6711em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;89 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:36.6721em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;Other &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.5048em;top:36.6721em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;259 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.2842em;top:36.6721em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;259 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:37.6731em;z-index:2277;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_282&quot;&gt;tal &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.0265em;top:37.6731em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;3,057 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.8059em;top:37.6731em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2,330 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:39.0063em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_671 stl_08 stl_345&quot; style=&quot;word-spacing:-0.0418em;&quot;&gt;*?Non-current assets less tax assets &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:9.4017em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_531 stl_08 stl_514&quot; style=&quot;word-spacing:0.247em;&quot;&gt;2.2 Net&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_531 stl_08 stl_29&quot; style=&quot;word-spacing:-0.03em;&quot;&gt;&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_531 stl_08 stl_89&quot;&gt;revenue &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:4.9604em;top:10.3462em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_630 stl_08 stl_329&quot; style=&quot;word-spacing:-0.0316em;&quot;&gt;Accounting policies &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:11.2212em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0379em;&quot;&gt;The Group derives revenue primarily from freight forwarding services related to &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:12.0128em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0358em;&quot;&gt;transport of goods throughout Europe and worldwide by road, rail, ocean and air. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:13.5959em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;Revenue from contracts with customers is recognised when control of freight &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:14.3875em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_253&quot; style=&quot;word-spacing:-0.0407em;&quot;&gt;forwarding services are transferred to the customer at an amount that reflects &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:15.1791em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0374em;&quot;&gt;the consideration to which the Group expects to be entitled in exchange for &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:15.9707em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0381em;&quot;&gt;those services. Freight forwarding services and other services are generally char- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:16.7623em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_255&quot; style=&quot;word-spacing:-0.0404em;&quot;&gt;acterised by short delivery times except for ocean transports that takes longer &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:17.5538em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_320&quot; style=&quot;word-spacing:-0.0383em;&quot;&gt;due to the nature of the service delivered. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:19.137em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0383em;&quot;&gt;Timing of revenue recognition reflects when fulfilment of performance obliga- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:19.9286em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_116&quot; style=&quot;word-spacing:-0.0324em;&quot;&gt;tions towards customers take place and follows the over-time principle because &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:20.7202em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0377em;&quot;&gt;the customer receives and uses the benefits simultaneously. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:22.3033em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;Revenue generated by providing other logistic services is recognised in the &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:23.0949em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_443&quot; style=&quot;word-spacing:-0.0418em;&quot;&gt;reporting period in which the service is rendered. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:24.6781em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_253&quot; style=&quot;word-spacing:-0.0406em;&quot;&gt;When determining the transaction price for the sale of services, the Group con- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:25.4697em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0371em;&quot;&gt;siders the effect of variable consideration and any other significant factors af- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:26.2613em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.038em;&quot;&gt;fecting the transaction price. The Groups ordinary course of business is to agree &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:27.0528em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_297&quot; style=&quot;word-spacing:-0.0394em;&quot;&gt;a price (transaction price) with the customer for performing the specific service &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:27.8444em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_105&quot; style=&quot;word-spacing:-0.0338em;&quot;&gt;(price allocation) before booking a haulier/carrier and delivering the service. No &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:28.636em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0383em;&quot;&gt;material effect of variable consideration is present, and no material uncertainty is &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:29.4276em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_117&quot; style=&quot;word-spacing:-0.0379em;&quot;&gt;therefore associated with the contract price on an individual transport level. No &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:30.2192em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0384em;&quot;&gt;significant financing component is included in the transaction price, as sales are &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:31.0107em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_85&quot; style=&quot;word-spacing:-0.0372em;&quot;&gt;generally made with credit terms between 14-60 days from the delivery date, in &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:31.8023em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0362em;&quot;&gt;coherence with market practice. Consequently, no adjustments to the transac- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:32.5939em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0383em;&quot;&gt;tion prices for the time value of money is carried out. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:34.1771em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_327&quot; style=&quot;word-spacing:-0.0355em;&quot;&gt;Estimates of revenues, costs or extent of progress toward completion are revised &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:34.9687em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0363em;&quot;&gt;if circumstances change. Any resulting increases or decreases in estimated rev- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:35.7602em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.0389em;&quot;&gt;enues or costs are reflected in profit or loss in the period in which the circum- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:36.5518em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_90&quot; style=&quot;word-spacing:-0.035em;&quot;&gt;stances that give rise to the revision become known by management. Change of &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:37.3434em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0364em;&quot;&gt;circumstances relating to individual transports will ordinarily have a non-material &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:38.135em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_119&quot; style=&quot;word-spacing:-0.0346em;&quot;&gt;effect on the Groups consolidated revenue. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;              &#xA;            &#xA;            &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:11.2054em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_114&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;Accrued revenue and accrued costs of services in progress at 31 December 2024 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style..." /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8091" sourceLine="54130"><property name="QName" value="ix:continuation" /><property name="id" value="fact8091" /><property name="continuedAt" value="fact8094" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8094" sourceLine="54374"><property name="QName" value="ix:continuation" /><property name="id" value="fact8094" /><property name="continuedAt" value="fact8097" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8097" sourceLine="54431"><property name="QName" value="ix:continuation" /><property name="id" value="fact8097" /><property name="continuedAt" value="fact8100" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8100" sourceLine="54514"><property name="QName" value="ix:continuation" /><property name="id" value="fact8100" /><property name="continuedAt" value="fact8103" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8103" sourceLine="54644"><property name="QName" value="ix:continuation" /><property name="id" value="fact8103" /><property name="continuedAt" value="fact8106" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8106" sourceLine="54784"><property name="QName" value="ix:continuation" /><property name="id" value="fact8106" /></ref></entry><entry code="ESEF.2.2.6.textContentOrdering" level="warning"><message qname="ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory">2025-03-05 17:25:11,527 [ESEF.2.2.6.textContentOrdering] The text content of tagged fact should have same order as human-readable report, ix:continuation elements out of order:  ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory - NTG-2024-12-31-en.xhtml 54131, 54375, 54393, 54432, 54515, 54645, 54785
</message><ref href="NTG-2024-12-31-en.xhtml#fact8089" sourceLine="54393"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="54393" /><property name="label" value="ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DisclosureOfRevenueFromContractsWithCustomersExplanatory" /><property name="QName" value="ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:25.8235em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_255&quot; style=&quot;word-spacing:-0.0404em;&quot;&gt;All intersegment transactions and settlements are carried out on an arms length &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:26.6151em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_76&quot;&gt;basis. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:28.1568em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_670 stl_08 stl_116&quot; style=&quot;word-spacing:-0.0324em;&quot;&gt;Road &amp;amp; Logistics &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:28.9484em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0382em;&quot;&gt;The Road &amp;amp; Logistics division provides transport and warehousing solutions with &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:29.74em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;a geographical focus on Europe. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:31.2818em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_670 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0375em;&quot;&gt;Air &amp;amp; Ocean &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:32.0733em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;The Air &amp;amp; Ocean division provides international air and ocean freight services, &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:32.8649em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_359&quot; style=&quot;word-spacing:-0.0435em;&quot;&gt;including project transports. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:34.4067em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_670 stl_08 stl_195&quot; style=&quot;word-spacing:-0.0332em;&quot;&gt;Major customers &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:35.1983em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_119&quot; style=&quot;word-spacing:-0.0346em;&quot;&gt;The Group has no customers contributing revenue of more than 10 % of total &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:35.9898em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_327&quot; style=&quot;word-spacing:-0.0356em;&quot;&gt;revenue and the Group is therefore not reliant on any major customers. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.7531em;top:12.8663em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_466&quot; style=&quot;word-spacing:0.0098em;&quot;&gt;Road &amp;amp; Logistics &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.8836em;top:12.8663em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_24&quot; style=&quot;word-spacing:-0.006em;&quot;&gt;Air &amp;amp; Ocean &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:67.3833em;top:12.8663em;z-index:1310;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_282&quot;&gt;tal &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:13.8084em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:51.0879em;top:13.8084em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.8673em;top:13.8084em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.6467em;top:13.8084em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.4261em;top:13.8084em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.2056em;top:13.8084em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.985em;top:13.8084em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0861em;top:15.5181em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_391&quot; style=&quot;word-spacing:0.0086em;&quot;&gt;Segment revenue &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.9549em;top:15.5181em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;6,640 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.7343em;top:15.5181em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;6,238 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.5137em;top:15.5181em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2,745 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.2932em;top:15.5181em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2,133 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.0726em;top:15.5181em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;9,385 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.852em;top:15.5181em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;8,371 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0855em;top:16.5191em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_22&quot; style=&quot;word-spacing:0.0091em;&quot;&gt;Revenue (between segments) &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:51.5464em;top:16.5191em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-22 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:55.3258em;top:16.5191em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-26 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:59.1052em;top:16.5191em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-11 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:63.223em;top:16.5191em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-7 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.6641em;top:16.5191em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-33 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.4435em;top:16.5191em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-33 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0849em;top:17.5201em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_388&quot; style=&quot;word-spacing:0.0127em;&quot;&gt;Revenue (external) &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.9538em;top:17.5201em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;6,618 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.7332em;top:17.5201em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;6,212 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.5126em;top:17.5201em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2,734 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.292em;top:17.5201em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2,126 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.0714em;top:17.5201em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;9,352 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.8508em;top:17.5201em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;8,338 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0843em;top:18.5211em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_293&quot; style=&quot;word-spacing:0.0077em;&quot;&gt;Gross profit &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.9456em;top:18.5211em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,447 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.725em;top:18.5211em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,386 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.9828em;top:18.5211em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;526 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.7622em;top:18.5211em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;480 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.0633em;top:18.5211em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,973 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.8427em;top:18.5211em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,866 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0838em;top:19.5221em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_263&quot; style=&quot;word-spacing:0.0029em;&quot;&gt;Amortisation and depreciation &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:51.2063em;top:19.5221em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_282&quot;&gt;-239 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.9858em;top:19.5221em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_282&quot;&gt;-205 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:59.1035em;top:19.5221em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-21 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.8829em;top:19.5221em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-18 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.324em;top:19.5221em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_282&quot;&gt;-260 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.1034em;top:19.5221em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_282&quot;&gt;-223 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0832em;top:20.5231em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_279&quot; style=&quot;word-spacing:0.0052em;&quot;&gt;Operating profit before special items &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:51.4228em;top:20.5231em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;393 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:55.2022em;top:20.5231em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;467 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.9816em;top:20.5231em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;131 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.761em;top:20.5231em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;163 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.5404em;top:20.5231em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;524 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.3199em;top:20.5231em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;630 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0826em;top:21.5241em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_218&quot; style=&quot;word-spacing:0.0087em;&quot;&gt;Gross margin % &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.8167em;top:21.5241em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;21.9% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.5961em;top:21.5241em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;22.3% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.3755em;top:21.5241em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;19.2% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.155em;top:21.5241em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;22.6% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:65.9344em;top:21.5241em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;21.1% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.7138em;top:21.5241em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;22.4% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:22.8575em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_254 stl_08 stl_489&quot; style=&quot;word-spacing:-0.0392em;&quot;&gt;Note: Total assets and liabilities for each segment is not reported because such amounts are not regularly provided to the Chief Operating Decisions Maker. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:25.031em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_618 stl_08 stl_90&quot; style=&quot;word-spacing:-0.0344em;&quot;&gt;Geographical information &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:25.8226em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0356em;&quot;&gt;The following table present information regarding the Groups geographical seg- &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:26.6142em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;ments on revenue, and non-current assets, both of which are allocated according &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:27.4058em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0376em;&quot;&gt;to the country in which the individual consolidated entity is based. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:28.989em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_211 stl_08 stl_257&quot; style=&quot;word-spacing:-0.038em;&quot;&gt;Net revenue per country &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:29.9314em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.8594em;top:29.9314em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.6388em;top:29.9314em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:31.6411em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_148&quot;&gt;Denmark &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.727em;top:31.6411em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;3,489 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.5064em;top:31.6411em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2,884 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:32.6421em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_470&quot;&gt;USA &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.727em;top:32.6421em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,357 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.5064em;top:32.6421em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,124 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:33.6431em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_22&quot;&gt;Sweden &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.727em;top:33.6431em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,270 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.5064em;top:33.6431em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,440 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:34.6441em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_135&quot;&gt;Germany &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:43.1977em;top:34.6441em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;665 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.9771em;top:34.6441em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;499 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:35.6451em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;Finland &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:43.1977em;top:35.6451em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;582 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.9771em;top:35.6451em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;620 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:36.6461em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;Other &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.727em;top:36.6461em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,989 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.5064em;top:36.6461em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,771 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:37.6471em;z-index:2138;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_282&quot;&gt;tal &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.7194em;top:37.6471em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;9,352 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.4988em;top:37.6471em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;8,338 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:28.9992em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_211 stl_08 stl_256&quot; style=&quot;word-spacing:-0.042em;&quot;&gt;Non-current assets per country* &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:29.9416em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.1665em;top:29.9416em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.9459em;top:29.9416em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:31.6513em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_148&quot;&gt;Denmark &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.034em;top:31.6513em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,272 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.8135em;top:31.6513em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,210 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:32.6523em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_135&quot;&gt;Germany &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.5048em;top:32.6523em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;721 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6225em;top:32.6523em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;59 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:33.6533em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_470&quot;&gt;USA &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.5048em;top:33.6533em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;559 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.2842em;top:33.6533em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;531 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:34.6701em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_22&quot;&gt;Sweden &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.5048em;top:34.6701em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;168 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.2842em;top:34.6701em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;182 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:35.6711em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_282&quot;&gt;Finland &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.8431em;top:35.6711em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;78 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6226em;top:35.6711em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;89 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:36.6721em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;Other &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.5048em;top:36.6721em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;259 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.2842em;top:36.6721em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;259 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:37.6731em;z-index:2277;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_282&quot;&gt;tal &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.0265em;top:37.6731em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;3,057 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.8059em;top:37.6731em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2,330 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:39.0063em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_671 stl_08 stl_345&quot; style=&quot;word-spacing:-0.0418em;&quot;&gt;*?Non-current assets less tax assets &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:9.4017em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_531 stl_08 stl_514&quot; style=&quot;word-spacing:0.247em;&quot;&gt;2.2 Net&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_531 stl_08 stl_29&quot; style=&quot;word-spacing:-0.03em;&quot;&gt;&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_531 stl_08 stl_89&quot;&gt;revenue &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:4.9604em;top:10.3462em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_630 stl_08 stl_329&quot; style=&quot;word-spacing:-0.0316em;&quot;&gt;Accounting policies &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:11.2212em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0379em;&quot;&gt;The Group derives revenue primarily from freight forwarding services related to &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:12.0128em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0358em;&quot;&gt;transport of goods throughout Europe and worldwide by road, rail, ocean and air. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:13.5959em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;Revenue from contracts with customers is recognised when control of freight &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:14.3875em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_253&quot; style=&quot;word-spacing:-0.0407em;&quot;&gt;forwarding services are transferred to the customer at an amount that reflects &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:15.1791em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0374em;&quot;&gt;the consideration to which the Group expects to be entitled in exchange for &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:15.9707em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0381em;&quot;&gt;those services. Freight forwarding services and other services are generally char- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:16.7623em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_255&quot; style=&quot;word-spacing:-0.0404em;&quot;&gt;acterised by short delivery times except for ocean transports that takes longer &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:17.5538em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_320&quot; style=&quot;word-spacing:-0.0383em;&quot;&gt;due to the nature of the service delivered. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:19.137em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0383em;&quot;&gt;Timing of revenue recognition reflects when fulfilment of performance obliga- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:19.9286em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_116&quot; style=&quot;word-spacing:-0.0324em;&quot;&gt;tions towards customers take place and follows the over-time principle because &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:20.7202em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0377em;&quot;&gt;the customer receives and uses the benefits simultaneously. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:22.3033em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;Revenue generated by providing other logistic services is recognised in the &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:23.0949em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_443&quot; style=&quot;word-spacing:-0.0418em;&quot;&gt;reporting period in which the service is rendered. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:24.6781em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_253&quot; style=&quot;word-spacing:-0.0406em;&quot;&gt;When determining the transaction price for the sale of services, the Group con- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:25.4697em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0371em;&quot;&gt;siders the effect of variable consideration and any other significant factors af- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:26.2613em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.038em;&quot;&gt;fecting the transaction price. The Groups ordinary course of business is to agree &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:27.0528em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_297&quot; style=&quot;word-spacing:-0.0394em;&quot;&gt;a price (transaction price) with the customer for performing the specific service &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:27.8444em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_105&quot; style=&quot;word-spacing:-0.0338em;&quot;&gt;(price allocation) before booking a haulier/carrier and delivering the service. No &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:28.636em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0383em;&quot;&gt;material effect of variable consideration is present, and no material uncertainty is &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:29.4276em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_117&quot; style=&quot;word-spacing:-0.0379em;&quot;&gt;therefore associated with the contract price on an individual transport level. No &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:30.2192em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0384em;&quot;&gt;significant financing component is included in the transaction price, as sales are &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:31.0107em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_85&quot; style=&quot;word-spacing:-0.0372em;&quot;&gt;generally made with credit terms between 14-60 days from the delivery date, in &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:31.8023em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0362em;&quot;&gt;coherence with market practice. Consequently, no adjustments to the transac- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:32.5939em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0383em;&quot;&gt;tion prices for the time value of money is carried out. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:34.1771em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_327&quot; style=&quot;word-spacing:-0.0355em;&quot;&gt;Estimates of revenues, costs or extent of progress toward completion are revised &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:34.9687em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0363em;&quot;&gt;if circumstances change. Any resulting increases or decreases in estimated rev- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:35.7602em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.0389em;&quot;&gt;enues or costs are reflected in profit or loss in the period in which the circum- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:36.5518em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_90&quot; style=&quot;word-spacing:-0.035em;&quot;&gt;stances that give rise to the revision become known by management. Change of &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:37.3434em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0364em;&quot;&gt;circumstances relating to individual transports will ordinarily have a non-material &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:38.135em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_119&quot; style=&quot;word-spacing:-0.0346em;&quot;&gt;effect on the Groups consolidated revenue. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;              &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:11.2054em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_114&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;Accrued revenue and accrued costs of services in progress at 31 December 2024 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:11.997em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_297&quot; style=&quot;word-spacing:-0.0395em;&quot;&gt;are presented on the line items trade receivables and t..." /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8092" sourceLine="54131"><property name="QName" value="ix:continuation" /><property name="id" value="fact8092" /><property name="continuedAt" value="fact8095" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8095" sourceLine="54375"><property name="QName" value="ix:continuation" /><property name="id" value="fact8095" /><property name="continuedAt" value="fact8098" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8098" sourceLine="54432"><property name="QName" value="ix:continuation" /><property name="id" value="fact8098" /><property name="continuedAt" value="fact8101" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8101" sourceLine="54515"><property name="QName" value="ix:continuation" /><property name="id" value="fact8101" /><property name="continuedAt" value="fact8104" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8104" sourceLine="54645"><property name="QName" value="ix:continuation" /><property name="id" value="fact8104" /><property name="continuedAt" value="fact8107" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8107" sourceLine="54785"><property name="QName" value="ix:continuation" /><property name="id" value="fact8107" /></ref></entry><entry code="ESEF.2.2.6.textContentOrdering" level="warning"><message qname="ifrs-full:DisclosureOfEmployeeBenefitsExplanatory">2025-03-05 17:25:11,527 [ESEF.2.2.6.textContentOrdering] The text content of tagged fact should have same order as human-readable report, ix:continuation elements out of order:  ifrs-full:DisclosureOfEmployeeBenefitsExplanatory - NTG-2024-12-31-en.xhtml 54749, 54839, 54850, 61962, 62052, 62139, 62205, 62264, 62375, 62457, 62653, 62816, 62877, 62893, 63037, 63162, 63205, 63229, 63392, 63407, 63548
</message><ref href="NTG-2024-12-31-en.xhtml#fact8117" sourceLine="54749"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="54749" /><property name="label" value="ifrs-full:DisclosureOfEmployeeBenefitsExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DisclosureOfEmployeeBenefitsExplanatory" /><property name="QName" value="ifrs-full:DisclosureOfEmployeeBenefitsExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:9.4015em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_531 stl_08 stl_672&quot; style=&quot;word-spacing:0.2628em;&quot;&gt;2.5 Staff&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_531 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0251em;&quot;&gt;&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_531 stl_08 stl_297&quot;&gt;costs &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:51.5746em;top:10.3461em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_630 stl_08 stl_329&quot; style=&quot;word-spacing:-0.0316em;&quot;&gt;Accounting policies &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:11.2211em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_253&quot; style=&quot;word-spacing:-0.0406em;&quot;&gt;Staff costs include salaries, bonuses, pensions, social security costs, vacation pay &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:12.0127em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_120&quot; style=&quot;word-spacing:-0.0388em;&quot;&gt;and other benefits, but exclude terminal-related staff costs recognised as Direct &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:12.8043em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_619&quot;&gt;costs. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:14.3875em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_117&quot; style=&quot;word-spacing:-0.0378em;&quot;&gt;Staff costs are recognised in the financial year in which the associated services &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:15.179em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0363em;&quot;&gt;are rendered by the employees. Costs related to long-term employee benefits, &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:15.9706em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0373em;&quot;&gt;e.g., defined benefit pension plans, are recognised in the periods in which they &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:16.7622em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_333&quot; style=&quot;word-spacing:-0.0418em;&quot;&gt;are earned. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;          &#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:18.3454em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0343em;&quot;&gt;Please refer to note 8.1 for detailed information on remuneration of Manage- &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:19.1369em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0367em;&quot;&gt;ment and note 8.2 for detailed information on the Group's share option schemes &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:19.9285em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0375em;&quot;&gt;and 8.3 for detailed information on pension plans. &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;          &#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:21.6632em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:66.1583em;top:21.6632em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:69.9377em;top:21.6632em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:23.3491em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_219&quot; style=&quot;word-spacing:0.0099em;&quot;&gt;Wages and salaries &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:66.496em;top:23.3491em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;943 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:70.2755em;top:23.3491em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;815 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3925em;top:24.2672em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_149&quot; style=&quot;word-spacing:0.0022em;&quot;&gt;Defined contribution pension plans &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:66.8338em;top:24.2672em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;46 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6132em;top:24.2672em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;35 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.392em;top:25.1854em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_158&quot; style=&quot;word-spacing:0.0014em;&quot;&gt;Defined benefit pension plans &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:67.1715em;top:25.1854em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:70.951em;top:25.1854em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;3&lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3914em;top:26.1036em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_25&quot; style=&quot;word-spacing:-0.0129em;&quot;&gt;Other social security costs &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:66.4943em;top:26.1036em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;115 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6121em;top:26.1036em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;98 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3908em;top:27.0217em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_20&quot; style=&quot;word-spacing:0.0056em;&quot;&gt;Share-based payments &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:66.8321em;top:27.0217em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;13 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6115em;top:27.0217em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;10 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3902em;top:27.9399em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_292&quot; style=&quot;word-spacing:-0.0156em;&quot;&gt;Other staff costs &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:66.8315em;top:27.9399em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;30 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6109em;top:27.9399em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;23 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3896em;top:28.8581em;z-index:3634;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_282&quot;&gt;tal &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:66.0142em;top:28.8581em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,149 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:70.272em;top:28.8581em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;984 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3891em;top:30.485em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_658 stl_08 stl_23&quot; style=&quot;word-spacing:0.0041em;&quot;&gt;Recognised in the income statement as: &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3891em;top:31.4031em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_293&quot; style=&quot;word-spacing:0.008em;&quot;&gt;Direct costs (terminal-related employees) &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:66.492em;top:31.4031em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;207 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:70.2714em;top:31.4031em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;142 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3885em;top:32.3213em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_291&quot; style=&quot;word-spacing:-0.0007em;&quot;&gt;Staff costs (other employees) &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:66.4914em;top:32.3213em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;942 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:70.2708em;top:32.3213em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;842 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3879em;top:33.2395em;z-index:3756;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_282&quot;&gt;tal &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:66.0125em;top:33.2395em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,149 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:70.2702em;top:33.2395em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;984 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3873em;top:34.8664em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_219&quot; style=&quot;word-spacing:0.01em;&quot;&gt;Average full time employees &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:66.0195em;top:34.8664em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2,197 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:69.7989em;top:34.8664em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,971 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3867em;top:35.7846em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_135&quot; style=&quot;word-spacing:-0.0066em;&quot;&gt;Number of full-time employees at year-end &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:66.0189em;top:35.7846em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2,723 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:69.7983em;top:35.7846em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,970 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;          &#xA;            &#xA;              &#xA;                &#xA;                  &#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:13.7132em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_531 stl_08 stl_105&quot; style=&quot;word-spacing:0.3232em;&quot;&gt;8.1 Remuneration&lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_531 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0169em;&quot;&gt;&lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_531 stl_08 stl_105&quot; style=&quot;word-spacing:-0.034em;&quot;&gt;of the Executive Board and the Board of Directors &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:14.5047em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0377em;&quot;&gt;The composition of the remuneration to the members of the Board of Directors &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:15.2963em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0343em;&quot;&gt;and the Executive Management is aimed at contributing to retaining and motivat- &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:16.0879em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.0378em;&quot;&gt;ing management members and to ensure the maximisation of shareholder value &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:16.8795em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0374em;&quot;&gt;by promoting and supporting achievement of strategic objectives for the Group &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:17.6711em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_76&quot; style=&quot;word-spacing:-0.0336em;&quot;&gt;following general trends in the society. The remuneration paid in 2024 follows &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:18.4627em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_329&quot; style=&quot;word-spacing:-0.0321em;&quot;&gt;the framework defined by the Remuneration Policy, available at investor.ntg.com, &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:19.2542em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;approved at the Annual General Meeting 21 March 2024. Base salary paid to Key &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:20.0458em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_116&quot; style=&quot;word-spacing:-0.0326em;&quot;&gt;Management personnel in 2024 totals DKK 5.3 million (2023: DKK 5.0 million). &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:21.629em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;The Board of Directors only receives short-term benefits. Executive Manage- &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:22.4206em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0358em;&quot;&gt;ment also receive other remuneration components. Total base salary to the &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:23.2122em;z-index:905;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0375em;&quot;&gt;Board of Directors and Executive Management was DKK &lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_684&quot;&gt;7&lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_514&quot;&gt;.&lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_380&quot; style=&quot;word-spacing:-0.0249em;&quot;&gt;8 million in 2024 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:24.0037em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_112&quot; style=&quot;word-spacing:-0.0304em;&quot;&gt;(2023: DKK 7.3 million). Total remuneration to the Board of Directors and Execu- &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:24.7953em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_108&quot; style=&quot;word-spacing:-0.0315em;&quot;&gt;tive Management was DKK 12.5 million in 2024 (2023: DKK 12.0 million). &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:26.3785em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;For the financial year 2024, the Group has published a Remuneration Report, &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:27.1701em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_77&quot; style=&quot;word-spacing:-0.0322em;&quot;&gt;investor.ntg.com, in accordance with the requirements of section 139b of the &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:27.9617em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_246&quot; style=&quot;word-spacing:-0.0403em;&quot;&gt;Danish Companies Act implementing the Shareholders Rights Directive. &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:29.5034em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_618 stl_08 stl_129&quot; style=&quot;word-spacing:-0.0316em;&quot;&gt;Remuneration to the Executive Management &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:30.295em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_121&quot; style=&quot;word-spacing:-0.0326em;&quot;&gt;Total remuneration to the Groups Executive Management is given in the table to &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:31.0866em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_120&quot; style=&quot;word-spacing:-0.0388em;&quot;&gt;the right. Employment agreements with members of the Executive Management &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:31.8782em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0383em;&quot;&gt;are without time limitation and can generally not exceed 12 months on the part &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:32.6697em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0379em;&quot;&gt;of the Company and 6 months on the part of the individual member of Executive &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:33.4613em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0351em;&quot;&gt;Management. For further information on remuneration composition etc., refer- &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:34.2529em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0363em;&quot;&gt;ence is made to the Groups Remuneration Report. &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                  &#xA;                &#xA;              &#xA;            &#xA;          &#xA;            &#xA;              &#xA;                &#xA;                  &#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:14.5198em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:42.8985em;top:14.5198em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:46.6779em;top:14.5198em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:16.2296em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_396&quot; style=&quot;word-spacing:0.0019em;&quot;&gt;Base salary &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4369em;top:16.2296em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;5.3 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2163em;top:16.2296em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;5.0 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0855em;top:17.2306em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_400&quot; style=&quot;word-spacing:0.0041em;&quot;&gt;Pensions and benefits &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4363em;top:17.2306em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.5 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2157em;top:17.2306em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.7 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0849em;top:18.2316em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_400&quot; style=&quot;word-spacing:0.0037em;&quot;&gt;Short-term cash incentive &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4357em;top:18.2316em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1.2 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2151em;top:18.2316em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1.2 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0843em;top:19.2326em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_275&quot; style=&quot;word-spacing:0.0063em;&quot;&gt;Share based payments &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4351em;top:19.2326em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.7 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2146em;top:19.2326em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.5 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0837em;top:20.2336em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_389&quot; style=&quot;word-spacing:0.0077em;&quot;&gt;Executive Management Board total &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4328em;top:20.2336em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;9.7 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2122em;top:20.2336em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;9.4 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                  &#xA;                &#xA;              &#xA;            &#xA;          &#xA;                &#xA;                  &#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0831em;top:22.2344em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_618 stl_08 stl_116&quot; style=&quot;word-spacing:-0.0326em;&quot;&gt;Remuneration to the the Board of Directors &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0831em;top:22.9344em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_81&quot; style=&quot;word-spacing:-0.0328em;&quot;&gt;Total remuneration to the Groups Board of Directors is given below. For further &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0831em;top:23.6344em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_105&quot; style=&quot;word-spacing:-0.0338em;&quot;&gt;information on remuneration composition, reference is made to the Groups &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0831em;top:24.426em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_443&quot; style=&quot;word-spacing:-0.0421em;&quot;&gt;Remuneration Report. &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:26.0768em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:42.9247em;top:26.0768em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:46.7041em;top:26.0768em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:27.7865em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_403&quot; style=&quot;word-spacing:0.0072em;&quot;&gt;Fixed annual fee &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4631em;top:27.7865em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.5 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2425em;top:27.7865em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.3 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0855em;top:28.7875em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_09&quot; style=&quot;word-spacing:0.0066em;&quot;&gt;Additional fixed fee &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4625em;top:28.7875em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.3 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.242em;top:28.7875em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.3 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0849em;top:29.7885em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_18&quot; style=&quot;word-spacing:-0.0022em;&quot;&gt;Board of Directors &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4602em;top:29.7885em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2.8 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2396em;top:29.7885em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2.6 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                  &#xA;                &#xA;              &#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3914em;top:9.3964em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_531 stl_08 stl_358&quot; style=&quot;word-spacing:0.2781em;&quot;&gt;8.2 Share-based&lt;/span&gt;&#xA;                          &lt;span class=&quot;stl_531 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0215em;&quot;&gt;&lt;/span&gt;&#xA;                          &lt;span class=&quot;stl_531 stl_08 stl_116&quot; style=&quot;word-spacing:-0.0324em;&quot;&gt;payment programs &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:51.5746em;top:10.3409em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_630 stl_08 stl_329&quot; style=&quot;word-spacing:-0.0316em;&quot;&gt;Accounting policies &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:11.2159em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_165&quot; style=&quot;word-spacing:-0.0358em;&quot;&gt;Employee services received in exchange for share-based payments granted corre- &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:12.0075em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_183&quot; style=&quot;word-spacing:-0.0381em;&quot;&gt;spond to fair value on the grant date. Share-based payments are either equity or &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:12.7991em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_133&quot; style=&quot;word-spacing:-0.0396em;&quot;&gt;cash settled and recognised in the income statement as staff costs over the vesting &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:13.5907em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_194&quot;&gt;period. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:15.1738em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_184&quot; style=&quot;word-spacing:-0.0376em;&quot;&gt;The fair value is determined using the Black &amp;amp; Scholes valuation model measured &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:15.9654em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_173&quot; style=&quot;word-spacing:-0.0355em;&quot;&gt;on the grant date. Valuation assumptions consider terms and conditions applicable &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:16.757em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_109&quot; style=&quot;word-spacing:-0.0399em;&quot;&gt;to the share options and warrants, and Managements expectations on the input &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:17.5486em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_247&quot; style=&quot;word-spacing:-0.0354em;&quot;&gt;variables. Estimated volatility is based on a peer review, adjusted for NTG specific &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:18.3402em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_318&quot; style=&quot;word-spacing:-0.0374em;&quot;&gt;factors. A total of 164 employees held share options or warrants on 31 December &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:19.1318em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_377&quot; style=&quot;word-spacing:-0.0246em;&quot;&gt;2024 (2023: 120 employees). &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:20.7149em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_170&quot; style=&quot;word-spacing:-0.0302em;&quot;&gt;37,000 share options were open for exercise on 31 December 2024. NTG Nordic &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:21.5065em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_247&quot; style=&quot;word-spacing:-0.0357em;&quot;&gt;Transport Group A/S has the right to settle share-based payment programs in &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:22.2981em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_241&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;either cash or shares when exercised. During 2024, 308,150 warrants and share &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:23.0897em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_370&quot; style=&quot;word-spacing:-0.0285em;&quot;&gt;options were exercised at an average share price of 279. Non-vested share options &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:23.8813em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_373&quot; style=&quot;word-spacing:-0.0397em;&quot;&gt;will, in certain circumstances, lapse in connection with a participants termination &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:24.6728em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_241&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;of employment. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:26.256em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_205&quot; style=&quot;word-spacing:-0.039em;&quot;&gt;Agreements with employees regarding share-based remuneration also include &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:27.0476em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_384&quot; style=&quot;word-spacing:-0.0342em;&quot;&gt;provisions that entitle the employee to premature exercise of the instrument in a &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:27.8392em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_430&quot; style=&quot;word-spacing:-0.0316em;&quot;&gt;change of control scenario. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:29.4223em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_155&quot; style=&quot;word-spacing:-0.0324em;&quot;&gt;Valuation of the share-based payments granted in 2024 and 2023 is based on &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:30.2139em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_201&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;assumptions disclosed in the following table: &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                      &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:31.7971em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_211 stl_08 stl_66&quot;&gt;Assumptions &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.2055em;top:32.2689em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:69.985em;top:32.2689em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:33.9787em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_419&quot; style=&quot;word-spacing:0.0094em;&quot;&gt;Share price &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.5433em;top:33.9787em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;259 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.3227em;top:33.9787em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;356 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3925em;top:34.9797em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_685&quot;&gt;Volatility &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:65.9378em;top:34.9797em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;35.0% &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:69.7172em;top:34.9797em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;35.0% &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50...." /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8120" sourceLine="54839"><property name="QName" 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value="fact8509" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8509" sourceLine="62893"><property name="QName" value="ix:continuation" /><property name="id" value="fact8509" /><property name="continuedAt" value="fact8511" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8511" sourceLine="63205"><property name="QName" value="ix:continuation" /><property name="id" value="fact8511" /><property name="continuedAt" value="fact8513" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8513" sourceLine="63392"><property name="QName" value="ix:continuation" /><property name="id" value="fact8513" /><property name="continuedAt" value="fact8515" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8515" sourceLine="63548"><property name="QName" value="ix:continuation" /><property name="id" value="fact8515" /><property name="continuedAt" value="fact8516" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8516" sourceLine="63407"><property name="QName" value="ix:continuation" /><property name="id" value="fact8516" /></ref></entry><entry code="ESEF.2.2.6.textContentOrdering" level="warning"><message qname="ifrs-full:DisclosureOfIncomeTaxExplanatory">2025-03-05 17:25:11,542 [ESEF.2.2.6.textContentOrdering] The text content of tagged fact should have same order as human-readable report, ix:continuation elements out of order:  ifrs-full:DisclosureOfIncomeTaxExplanatory - NTG-2024-12-31-en.xhtml 56031, 56045, 56094, 56183
</message><ref href="NTG-2024-12-31-en.xhtml#fact8255" sourceLine="56031"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="56031" /><property name="label" value="ifrs-full:DisclosureOfIncomeTaxExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DisclosureOfIncomeTaxExplanatory" /><property name="QName" value="ifrs-full:DisclosureOfIncomeTaxExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:9.3545em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_305 stl_08 stl_354&quot; style=&quot;word-spacing:0.3615em;&quot;&gt;3. Tax &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:10.5469em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0374em;&quot;&gt;This section contains relevant disclosures and details regarding tax recognised in &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:11.3385em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_480&quot; style=&quot;word-spacing:-0.0398em;&quot;&gt;the financial statements. The total tax on Group profit for the year amounts to &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:12.13em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_70&quot; style=&quot;word-spacing:-0.0295em;&quot;&gt;DKK 105 million. &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;          &#xA;            &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:14.5048em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_531 stl_08 stl_105&quot; style=&quot;word-spacing:0.3271em;&quot;&gt;3.1 Income&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_531 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0169em;&quot;&gt;&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_531 stl_08 stl_575&quot;&gt;tax &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:4.9604em;top:15.4497em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_630 stl_08 stl_329&quot; style=&quot;word-spacing:-0.0316em;&quot;&gt;Accounting policies &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:16.3247em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_489&quot; style=&quot;word-spacing:-0.0392em;&quot;&gt;The income tax expense or credit for the period is the tax payable on the current &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:17.1163em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0384em;&quot;&gt;periods taxable income based on the applicable income tax rate for each juris- &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:17.9079em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_320&quot; style=&quot;word-spacing:-0.0387em;&quot;&gt;diction adjusted by changes in deferred tax assets and liabilities attributable to &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:18.6994em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_271&quot; style=&quot;word-spacing:-0.0427em;&quot;&gt;temporary differences and to unused tax losses. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:20.2826em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0373em;&quot;&gt;The current income tax charge is calculated on the basis of the tax laws enacted &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:21.0742em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0375em;&quot;&gt;or substantively enacted at the balance sheet date in the countries where the &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:21.8658em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0382em;&quot;&gt;Group operates and generates taxable income. Management periodically evalu- &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:22.6574em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0377em;&quot;&gt;ates positions taken in tax returns with respect to situations in which applica- &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:23.4489em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0373em;&quot;&gt;ble tax regulation is subject to interpretation. It establishes provisions, where &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:24.2405em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_320&quot; style=&quot;word-spacing:-0.0386em;&quot;&gt;appropriate, on the basis of amounts expected to be paid to the tax authori- &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:25.0321em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0374em;&quot;&gt;ties. Managements judgements in this respect are based on assumptions and &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:25.8237em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_333&quot; style=&quot;word-spacing:-0.042em;&quot;&gt;estimates, which carry a degree of uncertainty with respect to actual outcomes. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:26.6153em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0367em;&quot;&gt;Non-taxable items mainly relate to individual Group companies, where tax losses &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:27.4068em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_480&quot; style=&quot;word-spacing:-0.0399em;&quot;&gt;are non-capitalised. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:28.99em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;Tax on other changes in equity concerns corporation tax and deferred tax and &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:29.7816em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_357&quot; style=&quot;word-spacing:-0.0412em;&quot;&gt;relates to the excess tax value between actual and expected tax deduction com- &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:30.5732em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_327&quot; style=&quot;word-spacing:-0.0354em;&quot;&gt;pared to the cumulative share-based payments cost recognised in the income &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:31.3648em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0386em;&quot;&gt;statement. Based on a preliminary analysis for 2023, the vast majority of entities &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:32.1563em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;qualify for the transitional safe harbour, and for entities that do not qualify for &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:32.9479em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;the transitional safe harbour, no material impact was estimated from Pillar II tax- &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:33.7395em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0384em;&quot;&gt;es on the Group. 2024 was the first tax year subject to the Pillar II rules and the &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:34.5311em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0357em;&quot;&gt;exception to the accounting for deferred taxes was applied. A similar preliminary &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:35.3227em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_108&quot; style=&quot;word-spacing:-0.0315em;&quot;&gt;analysis for 2024 did not indicate any material impact from Pillar II taxes. Top-up &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:36.1143em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_97&quot; style=&quot;word-spacing:-0.0293em;&quot;&gt;tax for 2024, if any, will be filed to the Danish Tax Authorities by 30 June 2026 as &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:36.9058em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_117&quot; style=&quot;word-spacing:-0.038em;&quot;&gt;part of the filing of the GloBE Information Return. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;          &#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:10.6274em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:42.8512em;top:10.6274em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:46.6306em;top:10.6274em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:12.3372em;z-index:1805;&quot;&gt;&#xA;              &lt;span class=&quot;stl_658 stl_08 stl_609&quot;&gt;T&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_658 stl_08 stl_29&quot;&gt;a&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_658 stl_08 stl_290&quot; style=&quot;word-spacing:-0.0095em;&quot;&gt;x for the year: &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:13.3382em;z-index:1819;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_545&quot;&gt;T&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;a&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_295&quot; style=&quot;word-spacing:-0.0021em;&quot;&gt;x on profit/loss for the year &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:43.189em;top:13.3382em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;105 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:46.9684em;top:13.3382em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;107 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0855em;top:14.3392em;z-index:1851;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_545&quot;&gt;T&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;a&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_149&quot; style=&quot;word-spacing:-0.0019em;&quot;&gt;x on other changes in equity &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:43.865em;top:14.3392em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;5&lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:47.428em;top:14.3392em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-1 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0855em;top:15.3402em;z-index:1879;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_294&quot; style=&quot;word-spacing:-0.0062em;&quot;&gt;tal tax for the year &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:43.1884em;top:15.3402em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;110 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:46.9678em;top:15.3402em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;106 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;          &#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:17.2968em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:42.8512em;top:17.2968em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:46.6306em;top:17.2968em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:19.0065em;z-index:1928;&quot;&gt;&#xA;              &lt;span class=&quot;stl_658 stl_08 stl_609&quot;&gt;T&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_658 stl_08 stl_29&quot;&gt;a&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_658 stl_08 stl_300&quot; style=&quot;word-spacing:-0.0035em;&quot;&gt;x on profit/loss for the year: &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:20.0075em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_391&quot; style=&quot;word-spacing:0.0085em;&quot;&gt;Current tax &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:43.189em;top:20.0075em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;109 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:46.9684em;top:20.0075em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;104 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0855em;top:21.0085em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_290&quot; style=&quot;word-spacing:0.001em;&quot;&gt;Adjustment of deferred tax &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:43.6486em;top:21.0085em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-4 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:47.645em;top:21.0085em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;6&lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0855em;top:22.0095em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_280&quot; style=&quot;word-spacing:-0.004em;&quot;&gt;Adjustment of tax from prior periods &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:43.987em;top:22.0095em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:47.428em;top:22.0095em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-3 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0855em;top:23.0105em;z-index:2031;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_673&quot;&gt;T&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_281&quot;&gt;a&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_20&quot; style=&quot;word-spacing:-0.0036em;&quot;&gt;x on profit/loss for the year &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:43.1884em;top:23.0105em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;105 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:46.9678em;top:23.0105em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;107 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:24.9672em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:42.7946em;top:24.9672em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:46.5741em;top:24.9672em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:26.6769em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_393&quot; style=&quot;word-spacing:0.0083em;&quot;&gt;Parent Company's income tax rate &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:42.5275em;top:26.6769em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;22.0% &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:46.3069em;top:26.6769em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;22.0% &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:28.3867em;z-index:2125;&quot;&gt;&#xA;              &lt;span class=&quot;stl_658 stl_08 stl_609&quot;&gt;T&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_658 stl_08 stl_29&quot;&gt;a&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_658 stl_08 stl_276&quot; style=&quot;word-spacing:0.0086em;&quot;&gt;x effect of: &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:29.3877em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_20&quot; style=&quot;word-spacing:0.0004em;&quot;&gt;Higher/lower tax rate in subsidiaries &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:42.8658em;top:29.3877em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.8% &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:46.6452em;top:29.3877em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.6% &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:30.3887em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_156&quot; style=&quot;word-spacing:-0.0094em;&quot;&gt;Other non-taxable items &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:42.8658em;top:30.3887em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1.6% &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:46.4288em;top:30.3887em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_128&quot;&gt;-1.2% &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:31.3897em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_280&quot; style=&quot;word-spacing:-0.004em;&quot;&gt;Adjustments of tax from prior periods &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:42.6494em;top:31.3897em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_128&quot;&gt;-0.1% &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:46.4288em;top:31.3897em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_128&quot;&gt;-0.5% &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:32.3907em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_275&quot; style=&quot;word-spacing:0.0033em;&quot;&gt;Revaluation of deferred tax assets and liabilities &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:42.6494em;top:32.3907em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_128&quot;&gt;-0.4% &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:46.4288em;top:32.3907em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_128&quot;&gt;-0.1% &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:33.3917em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_419&quot; style=&quot;word-spacing:0.0094em;&quot;&gt;Effective tax rate &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:42.5059em;top:33.3917em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;23.9% &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:46.2853em;top:33.3917em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;20.8% &lt;/span&gt;&#xA;            &lt;/div&gt;" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8256" sourceLine="56094"><property name="QName" value="ix:continuation" /><property name="id" value="fact8256" /><property name="continuedAt" value="fact8259" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8259" sourceLine="56045"><property name="QName" value="ix:continuation" /><property name="id" value="fact8259" /><property name="continuedAt" value="fact8260" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8260" sourceLine="56183"><property name="QName" value="ix:continuation" /><property name="id" value="fact8260" /></ref></entry><entry code="ESEF.2.2.6.textContentOrdering" level="warning"><message qname="ifrs-full:DisclosureOfDeferredTaxesExplanatory">2025-03-05 17:25:11,542 [ESEF.2.2.6.textContentOrdering] The text content of tagged fact should have same order as human-readable report, ix:continuation elements out of order:  ifrs-full:DisclosureOfDeferredTaxesExplanatory - NTG-2024-12-31-en.xhtml 56350, 56417, 56513, 56539
</message><ref href="NTG-2024-12-31-en.xhtml#fact8262" sourceLine="56350"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="56350" /><property name="label" value="ifrs-full:DisclosureOfDeferredTaxesExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DisclosureOfDeferredTaxesExplanatory" /><property name="QName" value="ifrs-full:DisclosureOfDeferredTaxesExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:9.4016em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_531 stl_08 stl_357&quot; style=&quot;word-spacing:0.2859em;&quot;&gt;3.2 Deferred&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_531 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0211em;&quot;&gt;&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_531 stl_08 stl_235&quot;&gt;tax &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:4.9604em;top:10.3461em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_630 stl_08 stl_329&quot; style=&quot;word-spacing:-0.0316em;&quot;&gt;Accounting policies &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:11.2211em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_56&quot; style=&quot;word-spacing:-0.0396em;&quot;&gt;Deferred income tax is recognised on temporary differences arising between the &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:12.0127em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_489&quot; style=&quot;word-spacing:-0.0393em;&quot;&gt;tax bases of assets and liabilities and their carrying amounts in the consolidated &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:12.8043em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0343em;&quot;&gt;financial statements. However, deferred tax liabilities are not recognised if they &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:13.5959em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_195&quot; style=&quot;word-spacing:-0.0334em;&quot;&gt;arise from the initial recognition of goodwill; deferred income tax is not account- &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:14.3875em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_85&quot; style=&quot;word-spacing:-0.0372em;&quot;&gt;ed for if it arises from the initial recognition of an asset or liability in a transaction &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:15.179em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_234&quot; style=&quot;word-spacing:-0.0401em;&quot;&gt;other than a business combination that, at the time of the transaction, affects &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:15.9706em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.038em;&quot;&gt;neither accounting nor taxable profit or loss. Deferred income tax is determined &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:16.7622em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0377em;&quot;&gt;using tax rates and laws that have been enacted or substantively enacted by the &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:17.5538em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_85&quot; style=&quot;word-spacing:-0.0371em;&quot;&gt;balance sheet date and are expected to apply when the related deferred income &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:18.3454em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_56&quot; style=&quot;word-spacing:-0.0397em;&quot;&gt;tax asset is realised, or the deferred income tax liability is settled. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:19.9285em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0378em;&quot;&gt;Deferred income tax assets are recognised only to the extent that it is probable &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:20.7201em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.0381em;&quot;&gt;that future taxable profit will be available, against which the temporary differ- &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:21.5117em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.0389em;&quot;&gt;ences can be utilised. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:23.0949em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_297&quot; style=&quot;word-spacing:-0.0395em;&quot;&gt;Deferred income tax assets and liabilities are offset when there is a legally en- &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:23.8864em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0384em;&quot;&gt;forceable right to offset current tax assets against current tax liabilities and when &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:24.678em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0367em;&quot;&gt;the deferred income tax assets and liabilities relate to income taxes levied by the &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:25.4696em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_408&quot; style=&quot;word-spacing:-0.0435em;&quot;&gt;same taxation authority on either the same taxable entity or different taxable &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:26.2612em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0364em;&quot;&gt;entities where there is an intention to settle the balances on a net basis. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:27.9966em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:19.5441em;top:27.9966em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:23.3235em;top:27.9966em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:29.7063em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_658 stl_08 stl_22&quot; style=&quot;word-spacing:0.0072em;&quot;&gt;Movement on deferred tax, net: &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:30.7073em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_290&quot; style=&quot;word-spacing:0.0002em;&quot;&gt;Deferred tax at 1 January &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:20.2202em;top:30.7073em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;23 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:23.9996em;top:30.7073em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;30 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7784em;top:31.7083em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_35&quot; style=&quot;word-spacing:-0.0015em;&quot;&gt;Deferred tax for the year &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:20.5579em;top:31.7083em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;4&lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:24.1209em;top:31.7083em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-6 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7784em;top:32.7093em;z-index:1317;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_545&quot;&gt;T&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;a&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_25&quot; style=&quot;word-spacing:0.0013em;&quot;&gt;x on changes in equity &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:20.3415em;top:32.7093em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-7 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:24.1209em;top:32.7093em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-2 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7784em;top:33.7103em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_292&quot; style=&quot;word-spacing:0.003em;&quot;&gt;Additions from business combinations &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:20.0032em;top:33.7103em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_282&quot;&gt;-24 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:24.4593em;top:33.7103em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7784em;top:34.7113em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_138&quot; style=&quot;word-spacing:-0.0187em;&quot;&gt;Other adjustments &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:20.3415em;top:34.7113em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-2 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:24.3379em;top:34.7113em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7784em;top:35.7123em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_300&quot; style=&quot;word-spacing:0.0061em;&quot;&gt;Deferred tax at 31 December &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:20.3398em;top:35.7123em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-6 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:23.999em;top:35.7123em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;23 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;          &#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:11.2482em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:42.8512em;top:11.2482em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:46.6306em;top:11.2482em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:12.9579em;z-index:1451;&quot;&gt;&#xA;              &lt;span class=&quot;stl_658 stl_08 stl_674&quot;&gt;T&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_658 stl_08 stl_281&quot;&gt;e&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_658 stl_08 stl_294&quot; style=&quot;word-spacing:-0.005em;&quot;&gt;mporary tax differences specified per type: &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:13.9589em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_285&quot; style=&quot;word-spacing:0.0026em;&quot;&gt;Intangible assets &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:43.3109em;top:13.9589em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-20 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:47.4286em;top:13.9589em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-9 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:14.9599em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_403&quot; style=&quot;word-spacing:0.0071em;&quot;&gt;Property, plant and equipment &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:43.8656em;top:14.9599em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;5&lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:47.3067em;top:14.9599em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;15 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0855em;top:15.9609em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_137&quot;&gt;Provisions &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:43.865em;top:15.9609em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:47.7664em;top:15.9609em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0855em;top:16.9619em;z-index:1553;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_545&quot;&gt;T&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;a&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_135&quot; style=&quot;word-spacing:-0.0002em;&quot;&gt;xable losses from previous years &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:43.865em;top:16.9619em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;7&lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:47.6445em;top:16.9619em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;7&lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0849em;top:17.9629em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_285&quot; style=&quot;word-spacing:-0.0173em;&quot;&gt;Other items* &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:43.8645em;top:17.9629em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:47.3055em;top:17.9629em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;10 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0843em;top:18.9639em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_300&quot; style=&quot;word-spacing:0.0061em;&quot;&gt;Deferred tax at 31 December &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:43.6457em;top:18.9639em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-6 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:47.305em;top:18.9639em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;23 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0837em;top:20.9659em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_658 stl_08 stl_293&quot; style=&quot;word-spacing:0.0083em;&quot;&gt;Recognised as follows: &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0837em;top:21.9669em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_290&quot; style=&quot;word-spacing:0.0074em;&quot;&gt;Deferred tax assets &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:43.525em;top:21.9669em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;28 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:47.3044em;top:21.9669em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;36 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0831em;top:22.9679em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_294&quot; style=&quot;word-spacing:0.0052em;&quot;&gt;Deferred tax liabilities &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:43.308em;top:22.9679em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-34 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:47.0874em;top:22.9679em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-13 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:24.1071em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_254 stl_08 stl_75&quot; style=&quot;word-spacing:-0.0403em;&quot;&gt;* Other items primarily relate to share-based payment programs &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;          &#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:25.6493em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_179&quot; style=&quot;word-spacing:-0.0314em;&quot;&gt;The Group has non-recognised tax assets totalling DKK 512 million at year-end &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:26.4409em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_313&quot; style=&quot;word-spacing:-0.028em;&quot;&gt;(2023: DKK 474 million), of which DKK 456 million relates to tax loss carry for- &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:27.2325em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.0382em;&quot;&gt;wards. DKK 427 million of the tax loss carry forwards have no expiry date, and &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:28.0241em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_114&quot; style=&quot;word-spacing:-0.0357em;&quot;&gt;the remaining amount expires within 5 and 10 years. &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:29.6073em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0364em;&quot;&gt;Non-recognised tax loss carry forwards include pre-tax DKK 1,722 million (2023: &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:30.3988em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.037em;&quot;&gt;DKK 1,722 million) acquired from the transaction with former Neurosearch A/S. &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:31.1904em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0374em;&quot;&gt;There is no assurance that the Group will be able to utilise the acquired tax loss &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:31.982em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_253&quot; style=&quot;word-spacing:-0.0408em;&quot;&gt;carry forwards, and no deferred tax asset has therefore been recognised. &lt;/span&gt;&#xA;            &lt;/div&gt;" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8264" sourceLine="56539"><property name="QName" value="ix:continuation" /><property name="id" value="fact8264" /><property name="continuedAt" value="fact8265" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8265" sourceLine="56417"><property name="QName" value="ix:continuation" /><property name="id" value="fact8265" /><property name="continuedAt" value="fact8266" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8266" sourceLine="56513"><property name="QName" value="ix:continuation" /><property name="id" value="fact8266" /></ref></entry><entry code="ESEF.2.2.6.textContentOrdering" level="warning"><message qname="ifrs-full:DisclosureOfFinancialInstrumentsExplanatory">2025-03-05 17:25:11,542 [ESEF.2.2.6.textContentOrdering] The text content of tagged fact should have same order as human-readable report, ix:continuation elements out of order:  ifrs-full:DisclosureOfFinancialInstrumentsExplanatory - NTG-2024-12-31-en.xhtml 56653, 56781, 56958, 57001, 57062, 57095, 57339
</message><ref href="NTG-2024-12-31-en.xhtml#fact8267" sourceLine="56653"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="56653" /><property name="label" value="ifrs-full:DisclosureOfFinancialInstrumentsExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DisclosureOfFinancialInstrumentsExplanatory" /><property name="QName" value="ifrs-full:DisclosureOfFinancialInstrumentsExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:9.3544em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_305 stl_08 stl_102&quot; style=&quot;word-spacing:0.3219em;&quot;&gt;4. Financial&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_305 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0103em;&quot;&gt;&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_305 stl_08 stl_348&quot; style=&quot;word-spacing:-0.022em;&quot;&gt;assets and liabilities &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:10.5468em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_113&quot; style=&quot;word-spacing:-0.036em;&quot;&gt;This note provides information about the Groups financial instruments, including: &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:12.13em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:4.4883em;top:12.13em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_56&quot; style=&quot;word-spacing:-0.0399em;&quot;&gt;Overview of all financial instruments held by the Group &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:12.9216em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:4.4883em;top:12.9216em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.0391em;&quot;&gt;Specific information about each type of financial instrument &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:13.7132em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:4.4883em;top:13.7132em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_134&quot; style=&quot;word-spacing:-0.033em;&quot;&gt;Accounting policies &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:14.5047em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:4.4883em;top:14.5047em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0381em;&quot;&gt;Information about determining the fair value of the instruments, including &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:4.4883em;top:15.2963em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_480&quot; style=&quot;word-spacing:-0.0397em;&quot;&gt;judgements and estimation uncertainty involved. &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;          &#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:16.8795em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_320&quot; style=&quot;word-spacing:-0.0387em;&quot;&gt;The Group holds the following financial instruments: &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:18.4627em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_211 stl_08 stl_343&quot; style=&quot;word-spacing:-0.0385em;&quot;&gt;Financial assets (amortised cost) &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:19.4055em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:19.5441em;top:19.4055em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:23.3235em;top:19.4055em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:21.1153em;z-index:438;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_289&quot;&gt;T&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_278&quot;&gt;r&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_09&quot; style=&quot;word-spacing:0.0066em;&quot;&gt;ade receivables &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:19.4111em;top:21.1153em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,525 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:23.1905em;top:21.1153em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,115 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7784em;top:22.1163em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_156&quot; style=&quot;word-spacing:-0.0094em;&quot;&gt;Other financial assets &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:19.8813em;top:22.1163em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;172 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:23.6607em;top:22.1163em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;150 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7778em;top:23.1173em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_265&quot; style=&quot;word-spacing:0.0021em;&quot;&gt;Cash and cash equivalents &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:19.8807em;top:23.1173em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;249 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:23.6601em;top:23.1173em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;276 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:25.4372em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_211 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0368em;&quot;&gt;Financial liabilities (amortised cost) &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:26.3792em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:19.5441em;top:26.3792em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:23.3235em;top:26.3792em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:28.089em;z-index:574;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_289&quot;&gt;T&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_278&quot;&gt;r&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_400&quot; style=&quot;word-spacing:-0.0026em;&quot;&gt;ade and other payables &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:19.4111em;top:28.089em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,568 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:23.1905em;top:28.089em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,322 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7784em;top:29.09em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_282&quot; style=&quot;word-spacing:-0.0097em;&quot;&gt;Other financial liabilities &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:19.8813em;top:29.09em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;678 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:23.6607em;top:29.09em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;379 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7778em;top:30.091em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_294&quot; style=&quot;word-spacing:0.0053em;&quot;&gt;Lease liabilities &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:19.4099em;top:30.091em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,163 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:23.6601em;top:30.091em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;864 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;          &#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:31.6607em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_675&quot; style=&quot;word-spacing:-0.0382em;&quot;&gt;Financial assets and financial liabilities are measured at amortised cost. The &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:32.4523em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_575&quot; style=&quot;word-spacing:-0.0387em;&quot;&gt;carying amounts of these financial assets and financial liabilities are not cosi- &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:33.2439em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_438&quot; style=&quot;word-spacing:-0.0372em;&quot;&gt;dered to differ from their fair value. The fair values are measured using Level 2 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:34.0355em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_676&quot;&gt;inputs. &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;          &#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:35.6186em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_577&quot; style=&quot;word-spacing:-0.0364em;&quot;&gt;The Groups exposure to various risks associated with the financial instruments &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:36.4102em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_481&quot; style=&quot;word-spacing:-0.0326em;&quot;&gt;is discussed in note 6.4.&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_29&quot; style=&quot;word-spacing:0.2497em;&quot;&gt;&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_405&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;The maximum exposure to credit risk at the end of &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:37.2018em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_672&quot; style=&quot;word-spacing:-0.0403em;&quot;&gt;the reporting period is the carrying amount of each class of financial assets &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:37.9934em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_237&quot; style=&quot;word-spacing:-0.0351em;&quot;&gt;mentioned above. &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;          &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7775em;top:9.4014em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_531 stl_08 stl_240&quot; style=&quot;word-spacing:0.2835em;&quot;&gt;4.5 Other&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_531 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0233em;&quot;&gt;&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_531 stl_08 stl_114&quot; style=&quot;word-spacing:-0.0357em;&quot;&gt;financial liabilities &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:4.9604em;top:10.3462em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_630 stl_08 stl_329&quot; style=&quot;word-spacing:-0.0316em;&quot;&gt;Accounting policies &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:11.2212em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_119&quot; style=&quot;word-spacing:-0.0346em;&quot;&gt;Other financial liabilities consist of individually immaterial positions related to &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:12.0128em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;short-term bank overdrafts and other borrowing arrangements outside of credit &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:12.8043em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0383em;&quot;&gt;institutions. Other financial liabilities are measured at amortised cost, which &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:13.5959em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;corresponds to the net realisable value. Other financial liabilities are classified as &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:14.3875em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0364em;&quot;&gt;current liabilities unless the Group has an unconditional right to defer settlement &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:15.1791em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_489&quot; style=&quot;word-spacing:-0.0394em;&quot;&gt;of the liability for at least 12 months after the reporting period. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;              &#xA;            &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:16.8465em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_90&quot; style=&quot;word-spacing:-0.0336em;&quot;&gt;On 14 February 2025, &lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_67 stl_08 stl_199&quot; style=&quot;word-spacing:-0.0303em;&quot;&gt;NTG entered into a new facility agreement with a &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7796em;top:17.7637em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_67 stl_08 stl_189&quot; style=&quot;word-spacing:-0.034em;&quot;&gt;consortium of four banks. This facility includes a revolving credit facility &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7796em;top:18.6806em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_67 stl_08 stl_430&quot; style=&quot;word-spacing:-0.0315em;&quot;&gt;amounting to DKK 750 million with a maturity of three years, and a term loan &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7796em;top:19.5974em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_67 stl_08 stl_189&quot; style=&quot;word-spacing:-0.0339em;&quot;&gt;facility of DKK 1,200 million with a maturity of two years, both of which have &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7796em;top:20.5143em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_67 stl_08 stl_169&quot; style=&quot;word-spacing:-0.0335em;&quot;&gt;an option to extend for two additional years. The loan has a variable interest &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7796em;top:21.4312em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_67 stl_08 stl_430&quot; style=&quot;word-spacing:-0.0314em;&quot;&gt;rate linked to CIBOR. The agreement also features an uncommitted accordion &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7796em;top:22.3481em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_67 stl_08 stl_153&quot; style=&quot;word-spacing:-0.0315em;&quot;&gt;option, allowing the company to increase the facility amount by up to DKK 1 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7796em;top:23.2649em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_67 stl_08 stl_247&quot; style=&quot;word-spacing:-0.0357em;&quot;&gt;billion. The facility agreement provides the capacity and flexibility to act on &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7796em;top:24.1818em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_67 stl_08 stl_384&quot; style=&quot;word-spacing:-0.0342em;&quot;&gt;the Group's M&amp;amp;A ambitions and secures a reliable financing source for the &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7796em;top:25.0987em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_67 stl_08 stl_383&quot; style=&quot;word-spacing:-0.0368em;&quot;&gt;years ahead. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;              &#xA;            &#xA;            &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:10.3434em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_211 stl_08 stl_85&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;Financial liabilities &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:48.1423em;top:11.2854em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.3235em;top:12.3453em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_156&quot;&gt;Carrying &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0868em;top:13.0955em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.5452em;top:13.0955em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_285&quot;&gt;amount &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.2015em;top:13.0955em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_290&quot; style=&quot;word-spacing:-0.0176em;&quot;&gt;0-1 year &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:49.7091em;top:13.0955em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_275&quot; style=&quot;word-spacing:-0.0187em;&quot;&gt;1-5 years &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:53.5719em;top:13.0955em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_391&quot; style=&quot;word-spacing:-0.0035em;&quot;&gt;&amp;gt; 5 years &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0868em;top:14.8052em;z-index:103;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_289&quot;&gt;T&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_278&quot;&gt;r&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_400&quot; style=&quot;word-spacing:-0.0026em;&quot;&gt;ade and other payables &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.845em;top:14.8052em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,568 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.6244em;top:14.8052em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,568 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:51.6732em;top:14.8052em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:55.4526em;top:14.8052em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0868em;top:15.8062em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_282&quot; style=&quot;word-spacing:-0.0097em;&quot;&gt;Other financial liabilities &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:43.3158em;top:15.8062em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;678 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:47.0952em;top:15.8062em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;175 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.8746em;top:15.8062em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;503 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:55.4526em;top:15.8062em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:16.8072em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_294&quot; style=&quot;word-spacing:0.0053em;&quot;&gt;Lease liabilities &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.845em;top:16.8072em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,163 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:47.0952em;top:16.8072em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;261 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.8746em;top:16.8072em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;594 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.654em;top:16.8072em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;308 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0863em;top:17.8082em;z-index:201;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_270&quot; style=&quot;word-spacing:0.0035em;&quot;&gt;tal, discounted &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.8369em;top:17.8082em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;3,409 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.6163em;top:17.8082em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2,004 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3957em;top:17.8082em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,097 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.6534em;top:17.8082em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;308 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0857em;top:19.8102em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_47&quot;&gt;Interest &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:43.3146em;top:19.8102em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;293 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:47.4324em;top:19.8102em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;64 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.8734em;top:19.8102em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;188 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.9912em;top:19.8102em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;41 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0851em;top:20.8112em;z-index:253;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_263&quot; style=&quot;word-spacing:0.003em;&quot;&gt;tal, undiscounted &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.8357em;top:20.8112em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;3,702 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.6151em;top:20.8112em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2,068 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3945em;top:20.8112em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,285 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.6523em;top:20.8112em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;349 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:48.1423em;top:23.2819em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.3235em;top:24.3418em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_156&quot;&gt;Carrying &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0868em;top:25.092em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.5452em;top:25.092em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_285&quot;&gt;amount &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.2015em;top:25.092em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_290&quot; style=&quot;word-spacing:-0.0176em;&quot;&gt;0-1 year &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:49.7091em;top:25.092em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_275&quot; style=&quot;word-spacing:-0.0187em;&quot;&gt;1-5 years &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:53.5719em;top:25.092em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_391&quot; style=&quot;word-spacing:-0.0035em;&quot;&gt;&amp;gt; 5 years &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0868em;top:26.8017em;z-index:364;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_289&quot;&gt;T&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_278&quot;&gt;r&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_400&quot; style=&quot;word-spacing:-0.0026em;&quot;&gt;ade and other payables &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.845em;top:26.8017em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,322 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.6244em;top:26.8017em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,322 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:51.6732em;top:26.8017em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:55.4526em;top:26.8017em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0868em;top:27.8027em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_282&quot; style=&quot;word-spacing:-0.0097em;&quot;&gt;Other financial liabilities &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:43.3158em;top:27.8027em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;379 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:47.0952em;top:27.8027em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;151 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.8746em;top:27.8027em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;228 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:55.4526em;top:27.8027em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:28.8037em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_294&quot; style=&quot;word-spacing:0.0053em;&quot;&gt;Lease liabilities &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:43.3158em;top:28.8037em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;864 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:47.0952em;top:28.8037em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;196 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.8746em;top:28.8037em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;446 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.654em;top:28.8037em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;222 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0863em;top:29.8047em;z-index:460;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_270&quot; style=&quot;word-spacing:0.0035em;&quot;&gt;tal, discounted &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.8369em;top:29.8047em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2,565 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.6163em;top:29.8047em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,669 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.874em;top:29.8047em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;674 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.6534em;top:29.8047em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;222 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0857em;top:31.8067em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_47&quot;&gt;Interest &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:43.3146em;top:31.8067em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;163 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:47.4324em;top:31.8067em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;43 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:51.2118em;top:31.8067em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;85 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.9912em;top:31.8067em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;35 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0851em;top:32.8077em;z-index:509;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_263&quot; style=&quot;word-spacing:0.003em;&quot;&gt;tal, undiscounted &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.8357em;top:32.8077em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2,728 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.6151em;top:32.8077em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,715 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.8729em;top:32.8077em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;759 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.6523em;top:32.8077em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;257 &lt;/span&gt;&#xA;                &lt;/div&gt;" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8268" sourceLine="56781"><property name="QName" value="ix:continuation" /><property name="id" value="fact8268" /><property name="continuedAt" value="fact8269" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8269" sourceLine="56958"><property name="QName" value="ix:continuation" /><property name="id" value="fact8269" /><property name="continuedAt" value="fact8270" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8270" sourceLine="57001"><property name="QName" value="ix:continuation" /><property name="id" value="fact8270" /><property name="continuedAt" value="fact8285" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8285" sourceLine="57062"><property name="QName" value="ix:continuation" /><property name="id" value="fact8285" /><property name="continuedAt" value="fact8289" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8289" sourceLine="57339"><property name="QName" value="ix:continuation" /><property name="id" value="fact8289" /><property name="continuedAt" value="fact8292" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8292" sourceLine="57095"><property name="QName" value="ix:continuation" /><property name="id" value="fact8292" /></ref></entry><entry code="ESEF.2.2.6.textContentOrdering" level="warning"><message qname="ifrs-full:DisclosureOfOtherLiabilitiesExplanatory">2025-03-05 17:25:11,542 [ESEF.2.2.6.textContentOrdering] The text content of tagged fact should have same order as human-readable report, ix:continuation elements out of order:  ifrs-full:DisclosureOfOtherLiabilitiesExplanatory - NTG-2024-12-31-en.xhtml 57063, 57096, 57340
</message><ref href="NTG-2024-12-31-en.xhtml#fact8286" sourceLine="57063"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="57063" /><property name="label" value="ifrs-full:DisclosureOfOtherLiabilitiesExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DisclosureOfOtherLiabilitiesExplanatory" /><property name="QName" value="ifrs-full:DisclosureOfOtherLiabilitiesExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:3.7775em;top:9.4014em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_531 stl_08 stl_240&quot; style=&quot;word-spacing:0.2835em;&quot;&gt;4.5 Other&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_531 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0233em;&quot;&gt;&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_531 stl_08 stl_114&quot; style=&quot;word-spacing:-0.0357em;&quot;&gt;financial liabilities &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:4.9604em;top:10.3462em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_630 stl_08 stl_329&quot; style=&quot;word-spacing:-0.0316em;&quot;&gt;Accounting policies &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:11.2212em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_119&quot; style=&quot;word-spacing:-0.0346em;&quot;&gt;Other financial liabilities consist of individually immaterial positions related to &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:12.0128em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;short-term bank overdrafts and other borrowing arrangements outside of credit &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:12.8043em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0383em;&quot;&gt;institutions. Other financial liabilities are measured at amortised cost, which &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:13.5959em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;corresponds to the net realisable value. Other financial liabilities are classified as &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:14.3875em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0364em;&quot;&gt;current liabilities unless the Group has an unconditional right to defer settlement &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:15.1791em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_489&quot; style=&quot;word-spacing:-0.0394em;&quot;&gt;of the liability for at least 12 months after the reporting period. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:16.8465em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_90&quot; style=&quot;word-spacing:-0.0336em;&quot;&gt;On 14 February 2025, &lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_67 stl_08 stl_199&quot; style=&quot;word-spacing:-0.0303em;&quot;&gt;NTG entered into a new facility agreement with a &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7796em;top:17.7637em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_67 stl_08 stl_189&quot; style=&quot;word-spacing:-0.034em;&quot;&gt;consortium of four banks. This facility includes a revolving credit facility &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7796em;top:18.6806em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_67 stl_08 stl_430&quot; style=&quot;word-spacing:-0.0315em;&quot;&gt;amounting to DKK 750 million with a maturity of three years, and a term loan &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7796em;top:19.5974em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_67 stl_08 stl_189&quot; style=&quot;word-spacing:-0.0339em;&quot;&gt;facility of DKK 1,200 million with a maturity of two years, both of which have &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7796em;top:20.5143em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_67 stl_08 stl_169&quot; style=&quot;word-spacing:-0.0335em;&quot;&gt;an option to extend for two additional years. The loan has a variable interest &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7796em;top:21.4312em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_67 stl_08 stl_430&quot; style=&quot;word-spacing:-0.0314em;&quot;&gt;rate linked to CIBOR. The agreement also features an uncommitted accordion &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7796em;top:22.3481em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_67 stl_08 stl_153&quot; style=&quot;word-spacing:-0.0315em;&quot;&gt;option, allowing the company to increase the facility amount by up to DKK 1 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7796em;top:23.2649em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_67 stl_08 stl_247&quot; style=&quot;word-spacing:-0.0357em;&quot;&gt;billion. The facility agreement provides the capacity and flexibility to act on &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7796em;top:24.1818em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_67 stl_08 stl_384&quot; style=&quot;word-spacing:-0.0342em;&quot;&gt;the Group's M&amp;amp;A ambitions and secures a reliable financing source for the &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7796em;top:25.0987em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_67 stl_08 stl_383&quot; style=&quot;word-spacing:-0.0368em;&quot;&gt;years ahead. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;              &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:10.3434em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_211 stl_08 stl_85&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;Financial liabilities &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:48.1423em;top:11.2854em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.3235em;top:12.3453em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_156&quot;&gt;Carrying &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0868em;top:13.0955em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.5452em;top:13.0955em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_285&quot;&gt;amount &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.2015em;top:13.0955em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_290&quot; style=&quot;word-spacing:-0.0176em;&quot;&gt;0-1 year &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:49.7091em;top:13.0955em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_275&quot; style=&quot;word-spacing:-0.0187em;&quot;&gt;1-5 years &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:53.5719em;top:13.0955em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_391&quot; style=&quot;word-spacing:-0.0035em;&quot;&gt;&amp;gt; 5 years &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0868em;top:14.8052em;z-index:103;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_289&quot;&gt;T&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_278&quot;&gt;r&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_400&quot; style=&quot;word-spacing:-0.0026em;&quot;&gt;ade and other payables &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.845em;top:14.8052em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,568 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.6244em;top:14.8052em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,568 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:51.6732em;top:14.8052em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:55.4526em;top:14.8052em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0868em;top:15.8062em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_282&quot; style=&quot;word-spacing:-0.0097em;&quot;&gt;Other financial liabilities &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:43.3158em;top:15.8062em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;678 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:47.0952em;top:15.8062em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;175 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.8746em;top:15.8062em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;503 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:55.4526em;top:15.8062em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:16.8072em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_294&quot; style=&quot;word-spacing:0.0053em;&quot;&gt;Lease liabilities &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.845em;top:16.8072em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,163 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:47.0952em;top:16.8072em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;261 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.8746em;top:16.8072em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;594 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.654em;top:16.8072em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;308 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0863em;top:17.8082em;z-index:201;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_270&quot; style=&quot;word-spacing:0.0035em;&quot;&gt;tal, discounted &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.8369em;top:17.8082em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;3,409 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.6163em;top:17.8082em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2,004 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3957em;top:17.8082em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,097 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.6534em;top:17.8082em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;308 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0857em;top:19.8102em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_47&quot;&gt;Interest &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:43.3146em;top:19.8102em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;293 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:47.4324em;top:19.8102em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;64 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.8734em;top:19.8102em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;188 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.9912em;top:19.8102em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;41 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0851em;top:20.8112em;z-index:253;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_263&quot; style=&quot;word-spacing:0.003em;&quot;&gt;tal, undiscounted &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.8357em;top:20.8112em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;3,702 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.6151em;top:20.8112em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2,068 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3945em;top:20.8112em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,285 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.6523em;top:20.8112em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;349 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:48.1423em;top:23.2819em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.3235em;top:24.3418em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_156&quot;&gt;Carrying &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0868em;top:25.092em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.5452em;top:25.092em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_285&quot;&gt;amount &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.2015em;top:25.092em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_290&quot; style=&quot;word-spacing:-0.0176em;&quot;&gt;0-1 year &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:49.7091em;top:25.092em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_275&quot; style=&quot;word-spacing:-0.0187em;&quot;&gt;1-5 years &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:53.5719em;top:25.092em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_391&quot; style=&quot;word-spacing:-0.0035em;&quot;&gt;&amp;gt; 5 years &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0868em;top:26.8017em;z-index:364;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_289&quot;&gt;T&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_278&quot;&gt;r&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_400&quot; style=&quot;word-spacing:-0.0026em;&quot;&gt;ade and other payables &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.845em;top:26.8017em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,322 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.6244em;top:26.8017em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,322 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:51.6732em;top:26.8017em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:55.4526em;top:26.8017em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0868em;top:27.8027em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_282&quot; style=&quot;word-spacing:-0.0097em;&quot;&gt;Other financial liabilities &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:43.3158em;top:27.8027em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;379 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:47.0952em;top:27.8027em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;151 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.8746em;top:27.8027em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;228 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:55.4526em;top:27.8027em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:28.8037em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_294&quot; style=&quot;word-spacing:0.0053em;&quot;&gt;Lease liabilities &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:43.3158em;top:28.8037em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;864 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:47.0952em;top:28.8037em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;196 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.8746em;top:28.8037em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;446 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.654em;top:28.8037em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;222 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0863em;top:29.8047em;z-index:460;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_270&quot; style=&quot;word-spacing:0.0035em;&quot;&gt;tal, discounted &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.8369em;top:29.8047em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2,565 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.6163em;top:29.8047em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,669 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.874em;top:29.8047em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;674 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.6534em;top:29.8047em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;222 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0857em;top:31.8067em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_47&quot;&gt;Interest &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:43.3146em;top:31.8067em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;163 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:47.4324em;top:31.8067em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;43 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:51.2118em;top:31.8067em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;85 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.9912em;top:31.8067em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;35 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0851em;top:32.8077em;z-index:509;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_263&quot; style=&quot;word-spacing:0.003em;&quot;&gt;tal, undiscounted &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.8357em;top:32.8077em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2,728 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.6151em;top:32.8077em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,715 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.8729em;top:32.8077em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;759 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:54.6523em;top:32.8077em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;257 &lt;/span&gt;&#xA;                &lt;/div&gt;" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8290" sourceLine="57340"><property name="QName" value="ix:continuation" /><property name="id" value="fact8290" /><property name="continuedAt" value="fact8293" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8293" sourceLine="57096"><property name="QName" value="ix:continuation" /><property name="id" value="fact8293" /></ref></entry><entry code="ESEF.2.2.6.textContentOrdering" level="warning"><message qname="ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory">2025-03-05 17:25:11,542 [ESEF.2.2.6.textContentOrdering] The text content of tagged fact should have same order as human-readable report, ix:continuation elements out of order:  ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory - NTG-2024-12-31-en.xhtml 57432, 57753, 57761, 57798, 57815, 57846, 57878, 57919, 57947, 58084, 58161
</message><ref href="NTG-2024-12-31-en.xhtml#fact8295" sourceLine="57753"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="57753" /><property name="label" value="ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DisclosureOfIntangibleAssetsAndGoodwillExplanatory" /><property name="QName" value="ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:13.7132em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_531 stl_08 stl_73&quot; style=&quot;word-spacing:0.3376em;&quot;&gt;5.1 Intangible&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_531 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0167em;&quot;&gt;&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_531 stl_08 stl_117&quot;&gt;assets &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;          &#xA;              &#xA;                &#xA;                  &#xA;                    &#xA;                      &lt;div class=&quot;stl_01&quot; style=&quot;left:4.9604em;top:14.658em;&quot;&gt;&#xA;                        &lt;span class=&quot;stl_630 stl_08 stl_329&quot; style=&quot;word-spacing:-0.0316em;&quot;&gt;Accounting policies &lt;/span&gt;&#xA;                      &lt;/div&gt;&#xA;                      &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:15.7693em;&quot;&gt;&#xA;                        &lt;span class=&quot;stl_531 stl_08 stl_298&quot;&gt;Goodwill &lt;/span&gt;&#xA;                      &lt;/div&gt;&#xA;                      &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:16.5609em;&quot;&gt;&#xA;                        &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0356em;&quot;&gt;Goodwill acquired in business combinations is recognised and measured as the &lt;/span&gt;&#xA;                      &lt;/div&gt;&#xA;                      &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:17.3524em;&quot;&gt;&#xA;                        &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0384em;&quot;&gt;difference between the total of the fair value of the consideration transferred &lt;/span&gt;&#xA;                      &lt;/div&gt;&#xA;                      &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:18.144em;&quot;&gt;&#xA;                        &lt;span class=&quot;stl_213 stl_08 stl_117&quot; style=&quot;word-spacing:-0.0379em;&quot;&gt;and the fair value of the identifiable net assets on the date of acquisition. Good- &lt;/span&gt;&#xA;                      &lt;/div&gt;&#xA;                      &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:18.9356em;&quot;&gt;&#xA;                        &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0386em;&quot;&gt;will is not amortised. The carrying amount of goodwill is tested for impairment &lt;/span&gt;&#xA;                      &lt;/div&gt;&#xA;                      &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:19.7272em;&quot;&gt;&#xA;                        &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;annually. Impairment losses are recognised directly for the year and are not &lt;/span&gt;&#xA;                      &lt;/div&gt;&#xA;                      &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:20.5188em;&quot;&gt;&#xA;                        &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0378em;&quot;&gt;subsequently reversed. &lt;/span&gt;&#xA;                      &lt;/div&gt;&#xA;                    &#xA;                  &#xA;                &#xA;              &#xA;            &#xA;                &#xA;                  &#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:22.1019em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_531 stl_08 stl_327&quot; style=&quot;word-spacing:-0.0348em;&quot;&gt;Acquired other rights &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:22.8935em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0364em;&quot;&gt;Acquired other similar rights are measured at cost less accumulated amortisation &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:23.6851em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_119&quot; style=&quot;word-spacing:-0.0345em;&quot;&gt;and less any accumulated impairment losses or at a lower value in use. &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                  &#xA;                &#xA;              &#xA;            &#xA;              &#xA;                &#xA;                  &#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:25.1854em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_531 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0345em;&quot;&gt;Customer relationships &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:25.977em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;On initial recognition, customer relationships identified from business combina- &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:26.7686em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_106&quot; style=&quot;word-spacing:-0.0346em;&quot;&gt;tions are recognised in the balance sheet at fair value. Subsequently, customer &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:27.5602em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;relationships are measured at cost less accumulated amortisation and impairment &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:28.3518em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_234&quot; style=&quot;word-spacing:0.2159em;&quot;&gt;losses. Customer&lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_29&quot; style=&quot;word-spacing:-0.02em;&quot;&gt;&lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;relationships are amortised on a straight-line basis based on &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:29.1433em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;the estimated customer life, usually up to 7 years. &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                  &#xA;                &#xA;              &#xA;            &#xA;          &#xA;              &#xA;                &#xA;                  &#xA;                    &#xA;                      &#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:30.6437em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_531 stl_08 stl_331&quot;&gt;Impairment &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:31.4353em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;Goodwill is tested for impairment once a year, other intangible assets are tested &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:32.2268em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.038em;&quot;&gt;when there is indication of impairment. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:33.7272em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.0392em;&quot;&gt;When performing the impairment test, an assessment is made as to the ability of &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:34.5188em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;individual cash generating units (CGUs) to generate sufficient positive net cash &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:35.3103em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.0391em;&quot;&gt;flow in the future to support the value of the unit in question. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                      &#xA;                    &#xA;                  &#xA;                &#xA;              &#xA;            &#xA;            &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.7879em;top:12.9545em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.6149em;top:12.9545em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:41.7172em;top:14.0144em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_293&quot;&gt;Acquired &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:45.5578em;top:14.0144em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_301&quot;&gt;Customer &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:57.5448em;top:14.0144em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_293&quot;&gt;Acquired &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:61.3854em;top:14.0144em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_301&quot;&gt;Customer &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:14.7646em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:42.5916em;top:14.7646em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_301&quot; style=&quot;word-spacing:0.8703em;&quot;&gt;rights relationships &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:49.5228em;top:14.7646em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_396&quot;&gt;Goodwill &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:54.3732em;top:14.7646em;z-index:127;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_282&quot;&gt;tal &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:58.4192em;top:14.7646em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_301&quot; style=&quot;word-spacing:0.8703em;&quot;&gt;rights relationships &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:65.3503em;top:14.7646em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_396&quot;&gt;Goodwill &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.2008em;top:14.7646em;z-index:175;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_282&quot;&gt;tal &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0878em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_403&quot; style=&quot;word-spacing:-0.002em;&quot;&gt;Cost at 1 January &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.7571em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.7728em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;7&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3972em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,372 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:54.1766em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,381 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.5835em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.5992em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;7&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.2236em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,386 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.003em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,395 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_301&quot; style=&quot;word-spacing:0.0028em;&quot;&gt;Aquisitions through business combinations &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.8778em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.7722em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;3&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.8749em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;349 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:54.6543em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;352 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.7048em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.7205em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.3786em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;4&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:71.158em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;4&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0872em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_400&quot; style=&quot;word-spacing:0.0038em;&quot;&gt;Disposals at cost &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.5401em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-2 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.8941em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.6735em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:55.1146em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-2 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.7048em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.7205em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.4999em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:71.2793em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_280&quot; style=&quot;word-spacing:-0.008em;&quot;&gt;Currency translation adjustments &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.8778em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.8935em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.2133em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;34 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:54.9927em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;34 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.7048em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.7205em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.8233em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-18 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6027em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-18 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_20&quot; style=&quot;word-spacing:0.0056em;&quot;&gt;Cost at 31 December &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.8761em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.4333em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;10 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.396em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,755 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:54.1754em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,765 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.5823em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.598em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;7&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.2224em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,372 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.0018em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,381 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0854em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_301&quot; style=&quot;word-spacing:-0.0021em;&quot;&gt;Impairment losses and amortisation at 1 January &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.7548em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.7704em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.67em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:55.3293em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;4&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.5812em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.5968em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.4964em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:71.1557em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;3&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0848em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_544&quot; style=&quot;word-spacing:-0.0108em;&quot;&gt;Amortisation for the year &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.8761em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.7704em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.6717em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:55.3298em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.7037em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.598em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.4993em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:71.1574em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_301&quot; style=&quot;word-spacing:-0.0049em;&quot;&gt;Disposals during the year &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.5395em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-2 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.8935em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.6729em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:55.114em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-2 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.7042em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.7199em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.4993em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:71.2787em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_148&quot; style=&quot;word-spacing:0.0022em;&quot;&gt;Impairment losses and amortisation at 31 December &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.8755em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.771em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;3&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.6706em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:55.3298em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;3&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.5817em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.5974em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.497em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:71.1562em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;4&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0854em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_301&quot; style=&quot;word-spacing:0.0026em;&quot;&gt;Carrying amount at 31 December &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.8749em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.7704em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;7&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3948em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,755 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:54.1742em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,762 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.7013em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.5968em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;5&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.2212em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,372 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.0007em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,377 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;              &#xA;            &#xA;          &#xA;              &#xA;                &#xA;                  &#xA;                    &#xA;                      &#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:31.4743em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0376em;&quot;&gt;Impairment testing is performed for each cash-generating unit to which consol- &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:32.2659em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_114&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;idated goodwill is allocated, as defined by Management. The cash-generating &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:33.0575em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0363em;&quot;&gt;units thereby follow the Groups divisional structure: &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:34.5578em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.795em;top:34.5578em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_56&quot; style=&quot;word-spacing:-0.0396em;&quot;&gt;Road &amp;amp; Logistics, and &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:35.3494em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.795em;top:35.3494em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.039em;&quot;&gt;Air &amp;amp; Ocean &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:36.9326em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0385em;&quot;&gt;Goodwill is written down to its recoverable amount through the income state- &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:37.7242em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_246&quot; style=&quot;word-spacing:-0.0405em;&quot;&gt;ment, if this is lower than the carrying amount. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                      &#xA;                    &#xA;                  &#xA;                &#xA;              &#xA;            &#xA;              &#xA;                &#xA;                  &#xA;                    &#xA;                      &#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:31.4738em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;The recoverable amount is determined as the present value of the discounted &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:32.2653em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;future net cash flow from the cash-generating unit to which the goodwill relates. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:33.0569em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0344em;&quot;&gt;In calculating the present value, discount rates are applied reflecting the risk-free &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:33.8485em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;interest rate with the addition of risks relating to the individual cash-generating &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:34.6401em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0382em;&quot;&gt;units, such as geographical and financial exposure. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                      &#xA;                    &#xA;                  &#xA;                &#xA;              &#xA;            &#xA;            &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:36.1404em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_81&quot; style=&quot;word-spacing:-0.033em;&quot;&gt;The carrying amount of goodwill at 31 December 2024 equals DKK 1,755 million. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:36.932em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0372em;&quot;&gt;For goodwill impairment testing, a number of estimates are made in connection &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:37.7236em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_480&quot; style=&quot;word-spacing:-0.0396em;&quot;&gt;to the development in revenues, operating profits, future capital expenditures, &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:38.5152em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_320&quot; style=&quot;word-spacing:-0.0388em;&quot;&gt;discount rates and growth expectations in the terminal period. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;              &#xA;            &#xA;          &#xA;            &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:10.167em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.038em;&quot;&gt;These estimates are based on assessments of the current cash-generating units &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:10.9586em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_56&quot; style=&quot;word-spacing:-0.0396em;&quot;&gt;Road &amp;amp; Logistics and Air &amp;amp; Ocean, and are based on historical data and assump- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:11.7502em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;tions of future expected market developments, including expected long-term &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:12.5418em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_106&quot; style=&quot;word-spacing:-0.0347em;&quot;&gt;average market growth rates. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:14.0421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_255&quot; style=&quot;word-spacing:-0.0403em;&quot;&gt;The Road &amp;amp; Logistics division primarily operates in the Northern, Eastern and &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:14.8337em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0368em;&quot;&gt;Central European markets. Future net cash flows of the division are affected &lt;..." /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8297" sourceLine="57761"><property name="QName" value="ix:continuation" /><property name="id" value="fact8297" /><property name="continuedAt" value="fact8304" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8304" sourceLine="57798"><property name="QName" value="ix:continuation" /><property name="id" value="fact8304" /><property name="continuedAt" value="fact8307" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8307" sourceLine="57815"><property name="QName" value="ix:continuation" /><property name="id" value="fact8307" /><property name="continuedAt" value="fact8313" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8313" sourceLine="57846"><property name="QName" value="ix:continuation" /><property name="id" value="fact8313" /><property name="continuedAt" value="fact8319" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8319" sourceLine="57432"><property name="QName" value="ix:continuation" /><property name="id" value="fact8319" /><property name="continuedAt" value="fact8324" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8324" sourceLine="57878"><property name="QName" value="ix:continuation" /><property name="id" value="fact8324" /><property name="continuedAt" value="fact8331" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8331" sourceLine="57919"><property name="QName" value="ix:continuation" /><property name="id" value="fact8331" /><property name="continuedAt" value="fact8337" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8337" sourceLine="57947"><property name="QName" value="ix:continuation" /><property name="id" value="fact8337" /><property name="continuedAt" value="fact8341" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8341" sourceLine="58084"><property name="QName" value="ix:continuation" /><property name="id" value="fact8341" /><property name="continuedAt" value="fact8345" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8345" sourceLine="58161"><property name="QName" value="ix:continuation" /><property name="id" value="fact8345" /></ref></entry><entry code="ESEF.2.2.6.textContentOrdering" level="warning"><message qname="ifrs-full:DisclosureOfGoodwillExplanatory">2025-03-05 17:25:11,542 [ESEF.2.2.6.textContentOrdering] The text content of tagged fact should have same order as human-readable report, ix:continuation elements out of order:  ifrs-full:DisclosureOfGoodwillExplanatory - NTG-2024-12-31-en.xhtml 57434, 57762, 57851, 57882, 57923, 57948, 58085, 58163
</message><ref href="NTG-2024-12-31-en.xhtml#fact8298" sourceLine="57762"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="57762" /><property name="label" value="ifrs-full:DisclosureOfGoodwillExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DisclosureOfGoodwillExplanatory" /><property name="QName" value="ifrs-full:DisclosureOfGoodwillExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:4.9604em;top:14.658em;&quot;&gt;&#xA;                        &lt;span class=&quot;stl_630 stl_08 stl_329&quot; style=&quot;word-spacing:-0.0316em;&quot;&gt;Accounting policies &lt;/span&gt;&#xA;                      &lt;/div&gt;&#xA;                      &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:15.7693em;&quot;&gt;&#xA;                        &lt;span class=&quot;stl_531 stl_08 stl_298&quot;&gt;Goodwill &lt;/span&gt;&#xA;                      &lt;/div&gt;&#xA;                      &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:16.5609em;&quot;&gt;&#xA;                        &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0356em;&quot;&gt;Goodwill acquired in business combinations is recognised and measured as the &lt;/span&gt;&#xA;                      &lt;/div&gt;&#xA;                      &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:17.3524em;&quot;&gt;&#xA;                        &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0384em;&quot;&gt;difference between the total of the fair value of the consideration transferred &lt;/span&gt;&#xA;                      &lt;/div&gt;&#xA;                      &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:18.144em;&quot;&gt;&#xA;                        &lt;span class=&quot;stl_213 stl_08 stl_117&quot; style=&quot;word-spacing:-0.0379em;&quot;&gt;and the fair value of the identifiable net assets on the date of acquisition. Good- &lt;/span&gt;&#xA;                      &lt;/div&gt;&#xA;                      &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:18.9356em;&quot;&gt;&#xA;                        &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0386em;&quot;&gt;will is not amortised. The carrying amount of goodwill is tested for impairment &lt;/span&gt;&#xA;                      &lt;/div&gt;&#xA;                      &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:19.7272em;&quot;&gt;&#xA;                        &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;annually. Impairment losses are recognised directly for the year and are not &lt;/span&gt;&#xA;                      &lt;/div&gt;&#xA;                      &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:20.5188em;&quot;&gt;&#xA;                        &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0378em;&quot;&gt;subsequently reversed. &lt;/span&gt;&#xA;                      &lt;/div&gt;&#xA;                    &#xA;                  &#xA;                &#xA;              &#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:30.6437em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_531 stl_08 stl_331&quot;&gt;Impairment &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:31.4353em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;Goodwill is tested for impairment once a year, other intangible assets are tested &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:32.2268em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.038em;&quot;&gt;when there is indication of impairment. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:33.7272em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.0392em;&quot;&gt;When performing the impairment test, an assessment is made as to the ability of &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:34.5188em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;individual cash generating units (CGUs) to generate sufficient positive net cash &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:35.3103em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.0391em;&quot;&gt;flow in the future to support the value of the unit in question. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                      &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.7879em;top:12.9545em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.6149em;top:12.9545em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:41.7172em;top:14.0144em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_293&quot;&gt;Acquired &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:45.5578em;top:14.0144em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_301&quot;&gt;Customer &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:57.5448em;top:14.0144em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_293&quot;&gt;Acquired &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:61.3854em;top:14.0144em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_301&quot;&gt;Customer &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:14.7646em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:42.5916em;top:14.7646em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_301&quot; style=&quot;word-spacing:0.8703em;&quot;&gt;rights relationships &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:49.5228em;top:14.7646em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_396&quot;&gt;Goodwill &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:54.3732em;top:14.7646em;z-index:127;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_282&quot;&gt;tal &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:58.4192em;top:14.7646em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_301&quot; style=&quot;word-spacing:0.8703em;&quot;&gt;rights relationships &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:65.3503em;top:14.7646em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_396&quot;&gt;Goodwill &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.2008em;top:14.7646em;z-index:175;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_282&quot;&gt;tal &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0878em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_403&quot; style=&quot;word-spacing:-0.002em;&quot;&gt;Cost at 1 January &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.7571em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.7728em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;7&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3972em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,372 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:54.1766em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,381 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.5835em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.5992em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;7&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.2236em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,386 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.003em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,395 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_301&quot; style=&quot;word-spacing:0.0028em;&quot;&gt;Aquisitions through business combinations &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.8778em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.7722em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;3&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.8749em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;349 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:54.6543em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;352 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.7048em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.7205em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.3786em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;4&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:71.158em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;4&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0872em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_400&quot; style=&quot;word-spacing:0.0038em;&quot;&gt;Disposals at cost &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.5401em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-2 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.8941em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.6735em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:55.1146em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-2 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.7048em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.7205em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.4999em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:71.2793em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_280&quot; style=&quot;word-spacing:-0.008em;&quot;&gt;Currency translation adjustments &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.8778em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.8935em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.2133em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;34 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:54.9927em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;34 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.7048em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.7205em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.8233em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-18 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6027em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-18 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_20&quot; style=&quot;word-spacing:0.0056em;&quot;&gt;Cost at 31 December &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.8761em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.4333em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;10 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.396em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,755 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:54.1754em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,765 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.5823em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.598em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;7&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.2224em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,372 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.0018em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,381 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0854em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_301&quot; style=&quot;word-spacing:-0.0021em;&quot;&gt;Impairment losses and amortisation at 1 January &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.7548em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.7704em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.67em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:55.3293em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;4&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.5812em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.5968em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.4964em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:71.1557em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;3&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0848em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_544&quot; style=&quot;word-spacing:-0.0108em;&quot;&gt;Amortisation for the year &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.8761em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.7704em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.6717em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:55.3298em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.7037em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.598em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.4993em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:71.1574em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_301&quot; style=&quot;word-spacing:-0.0049em;&quot;&gt;Disposals during the year &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.5395em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-2 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.8935em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.6729em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:55.114em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-2 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.7042em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.7199em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.4993em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:71.2787em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_148&quot; style=&quot;word-spacing:0.0022em;&quot;&gt;Impairment losses and amortisation at 31 December &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.8755em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.771em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;3&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.6706em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:55.3298em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;3&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.5817em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.5974em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.497em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:71.1562em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;4&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0854em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_301&quot; style=&quot;word-spacing:0.0026em;&quot;&gt;Carrying amount at 31 December &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.8749em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.7704em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;7&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3948em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,755 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:54.1742em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,762 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.7013em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.5968em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;5&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.2212em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,372 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.0007em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,377 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;              &#xA;                      &#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:31.4743em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0376em;&quot;&gt;Impairment testing is performed for each cash-generating unit to which consol- &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:32.2659em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_114&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;idated goodwill is allocated, as defined by Management. The cash-generating &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:33.0575em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0363em;&quot;&gt;units thereby follow the Groups divisional structure: &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:34.5578em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.795em;top:34.5578em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_56&quot; style=&quot;word-spacing:-0.0396em;&quot;&gt;Road &amp;amp; Logistics, and &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:35.3494em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.795em;top:35.3494em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.039em;&quot;&gt;Air &amp;amp; Ocean &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:36.9326em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0385em;&quot;&gt;Goodwill is written down to its recoverable amount through the income state- &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:37.7242em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_246&quot; style=&quot;word-spacing:-0.0405em;&quot;&gt;ment, if this is lower than the carrying amount. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                      &#xA;                    &#xA;                      &#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:31.4738em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;The recoverable amount is determined as the present value of the discounted &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:32.2653em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;future net cash flow from the cash-generating unit to which the goodwill relates. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:33.0569em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0344em;&quot;&gt;In calculating the present value, discount rates are applied reflecting the risk-free &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:33.8485em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;interest rate with the addition of risks relating to the individual cash-generating &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:34.6401em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0382em;&quot;&gt;units, such as geographical and financial exposure. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                      &#xA;                    &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:36.1404em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_81&quot; style=&quot;word-spacing:-0.033em;&quot;&gt;The carrying amount of goodwill at 31 December 2024 equals DKK 1,755 million. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:36.932em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0372em;&quot;&gt;For goodwill impairment testing, a number of estimates are made in connection &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:37.7236em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_480&quot; style=&quot;word-spacing:-0.0396em;&quot;&gt;to the development in revenues, operating profits, future capital expenditures, &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:38.5152em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_320&quot; style=&quot;word-spacing:-0.0388em;&quot;&gt;discount rates and growth expectations in the terminal period. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;              &#xA;            &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:10.167em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.038em;&quot;&gt;These estimates are based on assessments of the current cash-generating units &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:10.9586em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_56&quot; style=&quot;word-spacing:-0.0396em;&quot;&gt;Road &amp;amp; Logistics and Air &amp;amp; Ocean, and are based on historical data and assump- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:11.7502em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;tions of future expected market developments, including expected long-term &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:12.5418em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_106&quot; style=&quot;word-spacing:-0.0347em;&quot;&gt;average market growth rates. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:14.0421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_255&quot; style=&quot;word-spacing:-0.0403em;&quot;&gt;The Road &amp;amp; Logistics division primarily operates in the Northern, Eastern and &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:14.8337em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0368em;&quot;&gt;Central European markets. Future net cash flows of the division are affected &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:15.6253em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;by market development and growth rates in these regions. Development in the &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:16.4169em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_120&quot; style=&quot;word-spacing:-0.039em;&quot;&gt;gross profit generated per shipment, efforts in cost management, and improve- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:17.2084em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_320&quot; style=&quot;word-spacing:-0.0388em;&quot;&gt;ments in internal productivity measured by the number of shipments all play &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:18em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_121&quot; style=&quot;word-spacing:-0.0326em;&quot;&gt;crucial roles in influencing the division's cash flow. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:19.5004em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0353em;&quot;&gt;The Air &amp;amp; Ocean division operates internationally, and its future cash flows are &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:20.2919em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.036em;&quot;&gt;therefore exposed to developments in global trade and economy. Development &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:21.0835em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;in gross profit per shipment, cost management, and improvements in internal &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:21.8751em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0384em;&quot;&gt;productivity impacts the cash flow of the division. Additionally, fluctuations in &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:22.6667em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_117&quot; style=&quot;word-spacing:-0.0378em;&quot;&gt;freight rates impacts the overall financial dynamics of the division. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:24.167em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_81&quot; style=&quot;word-spacing:-0.033em;&quot;&gt;Future cash flows in both divisions are also affected by the development of inter- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:24.9586em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_333&quot; style=&quot;word-spacing:-0.0418em;&quot;&gt;nal factors, such as network synergies and productivity improvements. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:26.4589em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.039em;&quot;&gt;The expected future net cash flow is based on budgets and business plans &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:27.2505em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.035em;&quot;&gt;approved by Management for the year 2025 and projections for subsequent &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:28.0421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_76&quot; style=&quot;word-spacing:-0.0336em;&quot;&gt;years up to and including 2029. Projections in the budget period are derived &lt;/span&gt;&#xA; ..." /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8318" sourceLine="57851"><property name="QName" value="ix:continuation" /><property name="id" value="fact8318" /><property name="continuedAt" value="fact8321" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8321" sourceLine="57434"><property name="QName" value="ix:continuation" /><property name="id" value="fact8321" /><property name="continuedAt" value="fact8328" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8328" sourceLine="57882"><property name="QName" value="ix:continuation" /><property name="id" value="fact8328" /><property name="continuedAt" value="fact8335" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8335" sourceLine="57923"><property name="QName" value="ix:continuation" /><property name="id" value="fact8335" /><property name="continuedAt" value="fact8338" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8338" sourceLine="57948"><property name="QName" value="ix:continuation" /><property name="id" value="fact8338" /><property name="continuedAt" value="fact8342" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8342" sourceLine="58085"><property name="QName" value="ix:continuation" /><property name="id" value="fact8342" /><property name="continuedAt" value="fact8347" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8347" sourceLine="58163"><property name="QName" value="ix:continuation" /><property name="id" value="fact8347" /></ref></entry><entry code="ESEF.2.2.6.textContentOrdering" level="warning"><message qname="ifrs-full:DisclosureOfIntangibleAssetsExplanatory">2025-03-05 17:25:11,542 [ESEF.2.2.6.textContentOrdering] The text content of tagged fact should have same order as human-readable report, ix:continuation elements out of order:  ifrs-full:DisclosureOfIntangibleAssetsExplanatory - NTG-2024-12-31-en.xhtml 57433, 57765, 57799, 57818, 57848, 57880, 57921, 57950, 58087, 58164
</message><ref href="NTG-2024-12-31-en.xhtml#fact8301" sourceLine="57765"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="57765" /><property name="label" value="ifrs-full:DisclosureOfIntangibleAssetsExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DisclosureOfIntangibleAssetsExplanatory" /><property name="QName" value="ifrs-full:DisclosureOfIntangibleAssetsExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:4.9604em;top:14.658em;&quot;&gt;&#xA;                        &lt;span class=&quot;stl_630 stl_08 stl_329&quot; style=&quot;word-spacing:-0.0316em;&quot;&gt;Accounting policies &lt;/span&gt;&#xA;                      &lt;/div&gt;&#xA;                      &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:15.7693em;&quot;&gt;&#xA;                        &lt;span class=&quot;stl_531 stl_08 stl_298&quot;&gt;Goodwill &lt;/span&gt;&#xA;                      &lt;/div&gt;&#xA;                      &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:16.5609em;&quot;&gt;&#xA;                        &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0356em;&quot;&gt;Goodwill acquired in business combinations is recognised and measured as the &lt;/span&gt;&#xA;                      &lt;/div&gt;&#xA;                      &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:17.3524em;&quot;&gt;&#xA;                        &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0384em;&quot;&gt;difference between the total of the fair value of the consideration transferred &lt;/span&gt;&#xA;                      &lt;/div&gt;&#xA;                      &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:18.144em;&quot;&gt;&#xA;                        &lt;span class=&quot;stl_213 stl_08 stl_117&quot; style=&quot;word-spacing:-0.0379em;&quot;&gt;and the fair value of the identifiable net assets on the date of acquisition. Good- &lt;/span&gt;&#xA;                      &lt;/div&gt;&#xA;                      &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:18.9356em;&quot;&gt;&#xA;                        &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0386em;&quot;&gt;will is not amortised. The carrying amount of goodwill is tested for impairment &lt;/span&gt;&#xA;                      &lt;/div&gt;&#xA;                      &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:19.7272em;&quot;&gt;&#xA;                        &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;annually. Impairment losses are recognised directly for the year and are not &lt;/span&gt;&#xA;                      &lt;/div&gt;&#xA;                      &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:20.5188em;&quot;&gt;&#xA;                        &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0378em;&quot;&gt;subsequently reversed. &lt;/span&gt;&#xA;                      &lt;/div&gt;&#xA;                    &#xA;                  &#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:22.1019em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_531 stl_08 stl_327&quot; style=&quot;word-spacing:-0.0348em;&quot;&gt;Acquired other rights &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:22.8935em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0364em;&quot;&gt;Acquired other similar rights are measured at cost less accumulated amortisation &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:23.6851em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_119&quot; style=&quot;word-spacing:-0.0345em;&quot;&gt;and less any accumulated impairment losses or at a lower value in use. &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                  &#xA;                &#xA;                  &#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:25.1854em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_531 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0345em;&quot;&gt;Customer relationships &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:25.977em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;On initial recognition, customer relationships identified from business combina- &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:26.7686em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_106&quot; style=&quot;word-spacing:-0.0346em;&quot;&gt;tions are recognised in the balance sheet at fair value. Subsequently, customer &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:27.5602em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;relationships are measured at cost less accumulated amortisation and impairment &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:28.3518em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_234&quot; style=&quot;word-spacing:0.2159em;&quot;&gt;losses. Customer&lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_29&quot; style=&quot;word-spacing:-0.02em;&quot;&gt;&lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;relationships are amortised on a straight-line basis based on &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:29.1433em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;the estimated customer life, usually up to 7 years. &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                  &#xA;                &#xA;                  &#xA;                    &#xA;                      &#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:30.6437em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_531 stl_08 stl_331&quot;&gt;Impairment &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:31.4353em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;Goodwill is tested for impairment once a year, other intangible assets are tested &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:32.2268em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.038em;&quot;&gt;when there is indication of impairment. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:33.7272em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.0392em;&quot;&gt;When performing the impairment test, an assessment is made as to the ability of &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:34.5188em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;individual cash generating units (CGUs) to generate sufficient positive net cash &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:35.3103em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.0391em;&quot;&gt;flow in the future to support the value of the unit in question. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                      &#xA;                    &#xA;                  &#xA;                &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.7879em;top:12.9545em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.6149em;top:12.9545em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:41.7172em;top:14.0144em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_293&quot;&gt;Acquired &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:45.5578em;top:14.0144em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_301&quot;&gt;Customer &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:57.5448em;top:14.0144em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_293&quot;&gt;Acquired &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:61.3854em;top:14.0144em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_301&quot;&gt;Customer &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:14.7646em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:42.5916em;top:14.7646em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_301&quot; style=&quot;word-spacing:0.8703em;&quot;&gt;rights relationships &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:49.5228em;top:14.7646em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_396&quot;&gt;Goodwill &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:54.3732em;top:14.7646em;z-index:127;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_282&quot;&gt;tal &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:58.4192em;top:14.7646em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_301&quot; style=&quot;word-spacing:0.8703em;&quot;&gt;rights relationships &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:65.3503em;top:14.7646em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_396&quot;&gt;Goodwill &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.2008em;top:14.7646em;z-index:175;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_282&quot;&gt;tal &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0878em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_403&quot; style=&quot;word-spacing:-0.002em;&quot;&gt;Cost at 1 January &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.7571em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.7728em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;7&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3972em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,372 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:54.1766em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,381 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.5835em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.5992em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;7&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.2236em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,386 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.003em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,395 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_301&quot; style=&quot;word-spacing:0.0028em;&quot;&gt;Aquisitions through business combinations &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.8778em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.7722em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;3&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.8749em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;349 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:54.6543em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;352 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.7048em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.7205em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.3786em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;4&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:71.158em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;4&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0872em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_400&quot; style=&quot;word-spacing:0.0038em;&quot;&gt;Disposals at cost &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.5401em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-2 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.8941em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.6735em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:55.1146em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-2 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.7048em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.7205em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.4999em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:71.2793em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_280&quot; style=&quot;word-spacing:-0.008em;&quot;&gt;Currency translation adjustments &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.8778em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.8935em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.2133em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;34 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:54.9927em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;34 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.7048em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.7205em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.8233em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-18 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6027em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-18 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_20&quot; style=&quot;word-spacing:0.0056em;&quot;&gt;Cost at 31 December &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.8761em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.4333em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;10 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.396em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,755 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:54.1754em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,765 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.5823em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.598em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;7&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.2224em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,372 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.0018em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,381 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0854em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_301&quot; style=&quot;word-spacing:-0.0021em;&quot;&gt;Impairment losses and amortisation at 1 January &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.7548em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.7704em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.67em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:55.3293em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;4&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.5812em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.5968em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.4964em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:71.1557em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;3&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0848em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_544&quot; style=&quot;word-spacing:-0.0108em;&quot;&gt;Amortisation for the year &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.8761em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.7704em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.6717em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:55.3298em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.7037em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.598em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.4993em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:71.1574em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_301&quot; style=&quot;word-spacing:-0.0049em;&quot;&gt;Disposals during the year &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.5395em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-2 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.8935em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.6729em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:55.114em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-2 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.7042em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.7199em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.4993em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:71.2787em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_148&quot; style=&quot;word-spacing:0.0022em;&quot;&gt;Impairment losses and amortisation at 31 December &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.8755em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.771em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;3&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.6706em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:55.3298em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;3&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.5817em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.5974em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.497em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:71.1562em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;4&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0854em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_301&quot; style=&quot;word-spacing:0.0026em;&quot;&gt;Carrying amount at 31 December &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.8749em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.7704em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;7&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3948em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,755 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:54.1742em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,762 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.7013em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.5968em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;5&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.2212em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,372 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.0007em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,377 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;              &#xA;            &#xA;                  &#xA;                    &#xA;                      &#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:31.4743em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0376em;&quot;&gt;Impairment testing is performed for each cash-generating unit to which consol- &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:32.2659em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_114&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;idated goodwill is allocated, as defined by Management. The cash-generating &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:33.0575em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0363em;&quot;&gt;units thereby follow the Groups divisional structure: &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:34.5578em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.795em;top:34.5578em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_56&quot; style=&quot;word-spacing:-0.0396em;&quot;&gt;Road &amp;amp; Logistics, and &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:35.3494em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.795em;top:35.3494em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.039em;&quot;&gt;Air &amp;amp; Ocean &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:36.9326em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0385em;&quot;&gt;Goodwill is written down to its recoverable amount through the income state- &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:37.7242em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_246&quot; style=&quot;word-spacing:-0.0405em;&quot;&gt;ment, if this is lower than the carrying amount. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                      &#xA;                    &#xA;                  &#xA;                &#xA;                  &#xA;                    &#xA;                      &#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:31.4738em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;The recoverable amount is determined as the present value of the discounted &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:32.2653em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;future net cash flow from the cash-generating unit to which the goodwill relates. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:33.0569em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0344em;&quot;&gt;In calculating the present value, discount rates are applied reflecting the risk-free &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:33.8485em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;interest rate with the addition of risks relating to the individual cash-generating &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:34.6401em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0382em;&quot;&gt;units, such as geographical and financial exposure. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                      &#xA;                    &#xA;                  &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:36.1404em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_81&quot; style=&quot;word-spacing:-0.033em;&quot;&gt;The carrying amount of goodwill at 31 December 2024 equals DKK 1,755 million. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:36.932em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0372em;&quot;&gt;For goodwill impairment testing, a number of estimates are made in connection &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:37.7236em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_480&quot; style=&quot;word-spacing:-0.0396em;&quot;&gt;to the development in revenues, operating profits, future capital expenditures, &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:38.5152em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_320&quot; style=&quot;word-spacing:-0.0388em;&quot;&gt;discount rates and growth expectations in the terminal period. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:10.167em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.038em;&quot;&gt;These estimates are based on assessments of the current cash-generating units &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:10.9586em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_56&quot; style=&quot;word-spacing:-0.0396em;&quot;&gt;Road &amp;amp; Logistics and Air &amp;amp; Ocean, and are based on historical data and assump- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:11.7502em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;tions of future expected market developments, including expected long-term &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:12.5418em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_106&quot; style=&quot;word-spacing:-0.0347em;&quot;&gt;average market growth rates. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:14.0421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_255&quot; style=&quot;word-spacing:-0.0403em;&quot;&gt;The Road &amp;amp; Logistics division primarily operates in the Northern, Eastern and &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:14.8337em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0368em;&quot;&gt;Central European markets. Future net cash flows of the division are affected &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:15.6253em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;by market development and growth rates in these regions. Development in the &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:16.4169em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_120&quot; style=&quot;word-spacing:-0.039em;&quot;&gt;gross profit generated per shipment, efforts in cost management, and improve- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:17.2084em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_320&quot; style=&quot;word-spacing:-0.0388em;&quot;&gt;ments in internal productivity measured by the number of shipments all play &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:18em;&quot;&gt;&#xA;                    &lt;span c..." /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8305" sourceLine="57799"><property name="QName" value="ix:continuation" /><property name="id" value="fact8305" /><property name="continuedAt" value="fact8310" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8310" sourceLine="57818"><property name="QName" value="ix:continuation" /><property name="id" value="fact8310" /><property name="continuedAt" value="fact8315" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8315" sourceLine="57848"><property name="QName" value="ix:continuation" /><property name="id" value="fact8315" /><property name="continuedAt" value="fact8320" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8320" sourceLine="57433"><property name="QName" value="ix:continuation" /><property name="id" value="fact8320" /><property name="continuedAt" value="fact8326" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8326" sourceLine="57880"><property name="QName" value="ix:continuation" /><property name="id" value="fact8326" /><property name="continuedAt" value="fact8333" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8333" sourceLine="57921"><property name="QName" value="ix:continuation" /><property name="id" value="fact8333" /><property name="continuedAt" value="fact8340" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8340" sourceLine="57950"><property name="QName" value="ix:continuation" /><property name="id" value="fact8340" /><property name="continuedAt" value="fact8344" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8344" sourceLine="58087"><property name="QName" value="ix:continuation" /><property name="id" value="fact8344" /><property name="continuedAt" value="fact8348" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8348" sourceLine="58164"><property name="QName" value="ix:continuation" /><property name="id" value="fact8348" /></ref></entry><entry code="ESEF.2.2.6.textContentOrdering" level="warning"><message qname="ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory">2025-03-05 17:25:11,558 [ESEF.2.2.6.textContentOrdering] The text content of tagged fact should have same order as human-readable report, ix:continuation elements out of order:  ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory - NTG-2024-12-31-en.xhtml 57435, 57849, 57881, 57922, 57949, 58086, 58162, 58315
</message><ref href="NTG-2024-12-31-en.xhtml#fact8316" sourceLine="57849"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="57849" /><property name="label" value="ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DisclosureOfImpairmentOfAssetsExplanatory" /><property name="QName" value="ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:30.6437em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_531 stl_08 stl_331&quot;&gt;Impairment &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:31.4353em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;Goodwill is tested for impairment once a year, other intangible assets are tested &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:32.2268em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.038em;&quot;&gt;when there is indication of impairment. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:33.7272em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.0392em;&quot;&gt;When performing the impairment test, an assessment is made as to the ability of &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:34.5188em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;individual cash generating units (CGUs) to generate sufficient positive net cash &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:35.3103em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.0391em;&quot;&gt;flow in the future to support the value of the unit in question. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                      &#xA;                    &#xA;                  &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.7879em;top:12.9545em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.6149em;top:12.9545em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:41.7172em;top:14.0144em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_293&quot;&gt;Acquired &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:45.5578em;top:14.0144em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_301&quot;&gt;Customer &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:57.5448em;top:14.0144em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_293&quot;&gt;Acquired &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:61.3854em;top:14.0144em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_301&quot;&gt;Customer &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:14.7646em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:42.5916em;top:14.7646em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_301&quot; style=&quot;word-spacing:0.8703em;&quot;&gt;rights relationships &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:49.5228em;top:14.7646em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_396&quot;&gt;Goodwill &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:54.3732em;top:14.7646em;z-index:127;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_282&quot;&gt;tal &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:58.4192em;top:14.7646em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_301&quot; style=&quot;word-spacing:0.8703em;&quot;&gt;rights relationships &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:65.3503em;top:14.7646em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_396&quot;&gt;Goodwill &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.2008em;top:14.7646em;z-index:175;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_282&quot;&gt;tal &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0878em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_403&quot; style=&quot;word-spacing:-0.002em;&quot;&gt;Cost at 1 January &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.7571em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.7728em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;7&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3972em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,372 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:54.1766em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,381 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.5835em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.5992em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;7&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.2236em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,386 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.003em;top:16.2381em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,395 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_301&quot; style=&quot;word-spacing:0.0028em;&quot;&gt;Aquisitions through business combinations &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.8778em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.7722em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;3&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.8749em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;349 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:54.6543em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;352 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.7048em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.7205em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.3786em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;4&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:71.158em;top:17.2391em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;4&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0872em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_400&quot; style=&quot;word-spacing:0.0038em;&quot;&gt;Disposals at cost &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.5401em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-2 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.8941em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.6735em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:55.1146em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-2 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.7048em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.7205em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.4999em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:71.2793em;top:18.2401em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_280&quot; style=&quot;word-spacing:-0.008em;&quot;&gt;Currency translation adjustments &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.8778em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.8935em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.2133em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;34 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:54.9927em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;34 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.7048em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.7205em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.8233em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-18 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6027em;top:19.2411em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-18 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_20&quot; style=&quot;word-spacing:0.0056em;&quot;&gt;Cost at 31 December &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.8761em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.4333em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;10 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.396em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,755 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:54.1754em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,765 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.5823em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.598em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;7&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.2224em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,372 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.0018em;top:20.2421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,381 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0854em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_301&quot; style=&quot;word-spacing:-0.0021em;&quot;&gt;Impairment losses and amortisation at 1 January &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.7548em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.7704em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.67em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:55.3293em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;4&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.5812em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.5968em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.4964em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:71.1557em;top:21.7156em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;3&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0848em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_544&quot; style=&quot;word-spacing:-0.0108em;&quot;&gt;Amortisation for the year &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.8761em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.7704em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.6717em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:55.3298em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.7037em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.598em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.4993em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:71.1574em;top:22.7166em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_301&quot; style=&quot;word-spacing:-0.0049em;&quot;&gt;Disposals during the year &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.5395em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-2 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.8935em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.6729em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:55.114em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-2 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.7042em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.7199em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.4993em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:71.2787em;top:23.7176em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_148&quot; style=&quot;word-spacing:0.0022em;&quot;&gt;Impairment losses and amortisation at 31 December &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.8755em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.771em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;3&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.6706em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:55.3298em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;3&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.5817em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.5974em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.497em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:71.1562em;top:24.7186em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;4&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0854em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_301&quot; style=&quot;word-spacing:0.0026em;&quot;&gt;Carrying amount at 31 December &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:43.8749em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:47.7704em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;7&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3948em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,755 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:54.1742em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,762 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:59.7013em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:63.5968em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;5&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.2212em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,372 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.0007em;top:26.1921em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,377 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;                    &#xA;                      &#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:31.4743em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0376em;&quot;&gt;Impairment testing is performed for each cash-generating unit to which consol- &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:32.2659em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_114&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;idated goodwill is allocated, as defined by Management. The cash-generating &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:33.0575em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0363em;&quot;&gt;units thereby follow the Groups divisional structure: &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:34.5578em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.795em;top:34.5578em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_56&quot; style=&quot;word-spacing:-0.0396em;&quot;&gt;Road &amp;amp; Logistics, and &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:35.3494em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.795em;top:35.3494em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.039em;&quot;&gt;Air &amp;amp; Ocean &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:36.9326em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0385em;&quot;&gt;Goodwill is written down to its recoverable amount through the income state- &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:37.7242em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_246&quot; style=&quot;word-spacing:-0.0405em;&quot;&gt;ment, if this is lower than the carrying amount. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                      &#xA;                    &#xA;                  &#xA;                    &#xA;                      &#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:31.4738em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;The recoverable amount is determined as the present value of the discounted &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:32.2653em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;future net cash flow from the cash-generating unit to which the goodwill relates. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:33.0569em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0344em;&quot;&gt;In calculating the present value, discount rates are applied reflecting the risk-free &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:33.8485em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;interest rate with the addition of risks relating to the individual cash-generating &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:34.6401em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0382em;&quot;&gt;units, such as geographical and financial exposure. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                      &#xA;                    &#xA;                  &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:36.1404em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_81&quot; style=&quot;word-spacing:-0.033em;&quot;&gt;The carrying amount of goodwill at 31 December 2024 equals DKK 1,755 million. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:36.932em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0372em;&quot;&gt;For goodwill impairment testing, a number of estimates are made in connection &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:37.7236em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_480&quot; style=&quot;word-spacing:-0.0396em;&quot;&gt;to the development in revenues, operating profits, future capital expenditures, &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:38.5152em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_320&quot; style=&quot;word-spacing:-0.0388em;&quot;&gt;discount rates and growth expectations in the terminal period. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:10.167em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.038em;&quot;&gt;These estimates are based on assessments of the current cash-generating units &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:10.9586em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_56&quot; style=&quot;word-spacing:-0.0396em;&quot;&gt;Road &amp;amp; Logistics and Air &amp;amp; Ocean, and are based on historical data and assump- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:11.7502em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;tions of future expected market developments, including expected long-term &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:12.5418em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_106&quot; style=&quot;word-spacing:-0.0347em;&quot;&gt;average market growth rates. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:14.0421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_255&quot; style=&quot;word-spacing:-0.0403em;&quot;&gt;The Road &amp;amp; Logistics division primarily operates in the Northern, Eastern and &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:14.8337em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0368em;&quot;&gt;Central European markets. Future net cash flows of the division are affected &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:15.6253em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;by market development and growth rates in these regions. Development in the &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:16.4169em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_120&quot; style=&quot;word-spacing:-0.039em;&quot;&gt;gross profit generated per shipment, efforts in cost management, and improve- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:17.2084em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_320&quot; style=&quot;word-spacing:-0.0388em;&quot;&gt;ments in internal productivity measured by the number of shipments all play &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:18em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_121&quot; style=&quot;word-spacing:-0.0326em;&quot;&gt;crucial roles in influencing the division's cash flow. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:19.5004em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0353em;&quot;&gt;The Air &amp;amp; Ocean division operates internationally, and its future cash flows are &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:20.2919em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.036em;&quot;&gt;therefore exposed to developments in global trade and economy. Development &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:21.0835em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;in gross profit per shipment, cost management, and improvements in internal &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:21.8751em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0384em;&quot;&gt;productivity impacts the cash flow of the division. Additionally, fluctuations in &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:22.6667em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_117&quot; style=&quot;word-spacing:-0.0378em;&quot;&gt;freight rates impacts the overall financial dynamics of the division. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:24.167em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_81&quot; style=&quot;word-spacing:-0.033em;&quot;&gt;Future cash flows in both divisions are also affected by the development of inter- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:24.9586em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_333&quot; style=&quot;word-spacing:-0.0418em;&quot;&gt;nal factors, such as network synergies and productivity improvements. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:26.4589em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.039em;&quot;&gt;The expected future net cash flow is based on budgets and business plans &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:27.2505em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.035em;&quot;&gt;approved by Management for the year 2025 and projections for subsequent &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:28.0421em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_76&quot; style=&quot;word-spacing:-0.0336em;&quot;&gt;years up to and including 2029. Projections in the budget period are derived &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:28.8337em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_81&quot; style=&quot;word-spacing:-0.0329em;&quot;&gt;from the Group's historical above-industry growth rates. From 2029, NTG Nordic &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:29.6253em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_489&quot; style=&quot;word-spacing:-0.0393em;&quot;&gt;Transport Group A/S expects the growth rate to remain in line with the expected &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:30.4169em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_134&quot; style=&quot;word-spacing:-0.0331em;&quot;&gt;long-term average growth rate for the industry. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;              &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:10.1728em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_211 stl_08 stl_410&quot; style=&quot;word-spacing:-0.038em;&quot;&gt;Goodwill impairment &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:44.0163em;top:11.1148em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:42.3188em;top:12.1747em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_677&quot; style=&quot;word-spacing:0.0228em;&quot;&gt;Road &amp;amp; &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:46.6564em;top:12.1747em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0205em;&quot;&gt;Air &amp;amp; &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0868em;top:12.9249em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:41.9367em;top:12.9249em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_20&quot;&gt;Logistics &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:46.3006em;top:12.9249em;&quot;&gt;&#xA;   ..." /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8322" sourceLine="57435"><property name="QName" value="ix:continuation" /><property name="id" value="fact8322" /><property name="continuedAt" value="fact8327" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8327" sourceLine="57881"><property name="QName" value="ix:continuation" /><property name="id" value="fact8327" /><property name="continuedAt" value="fact8334" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8334" sourceLine="57922"><property name="QName" value="ix:continuation" /><property name="id" value="fact8334" /><property name="continuedAt" value="fact8339" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8339" sourceLine="57949"><property name="QName" value="ix:continuation" /><property name="id" value="fact8339" /><property name="continuedAt" value="fact8343" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8343" sourceLine="58086"><property name="QName" value="ix:continuation" /><property name="id" value="fact8343" /><property name="continuedAt" value="fact8346" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8346" sourceLine="58162"><property name="QName" value="ix:continuation" /><property name="id" value="fact8346" /><property name="continuedAt" value="fact8355" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8355" sourceLine="58315"><property name="QName" value="ix:continuation" /><property name="id" value="fact8355" /></ref></entry><entry code="ESEF.2.2.6.textContentOrdering" level="warning"><message qname="ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory">2025-03-05 17:25:11,558 [ESEF.2.2.6.textContentOrdering] The text content of tagged fact should have same order as human-readable report, ix:continuation elements out of order:  ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory - NTG-2024-12-31-en.xhtml 59537, 59551, 59654, 59685, 59703, 59794
</message><ref href="NTG-2024-12-31-en.xhtml#fact8376" sourceLine="59537"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="59537" /><property name="label" value="ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" /><property name="QName" value="ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:9.3401em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_305 stl_08 stl_112&quot; style=&quot;word-spacing:0.3091em;&quot;&gt;6. Capital&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_305 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0147em;&quot;&gt;&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_305 stl_08 stl_87&quot; style=&quot;word-spacing:-0.0242em;&quot;&gt;and financial risks &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:10.5324em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_253&quot; style=&quot;word-spacing:-0.0405em;&quot;&gt;The section describes the shareholders equity composition and capital manage- &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:11.324em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0384em;&quot;&gt;ment, including risks related to the financing structure of the Group. &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;          &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:13.6988em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_531 stl_08 stl_68&quot; style=&quot;word-spacing:0.3217em;&quot;&gt;6.1 Equity &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:14.4904em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_531 stl_08 stl_246&quot; style=&quot;word-spacing:-0.0405em;&quot;&gt;Share capital &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:15.2819em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_81&quot; style=&quot;word-spacing:-0.0331em;&quot;&gt;At 31 December 2024, the share capital of NTG Nordic Transport Group A/S was &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:16.0735em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_212&quot; style=&quot;word-spacing:-0.0342em;&quot;&gt;DKK 453 million consisting of 22.6 million shares with a nominal value of DKK &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:16.8651em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_480&quot; style=&quot;word-spacing:-0.0398em;&quot;&gt;20 each. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:18.4483em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0368em;&quot;&gt;Shares consist of only one share class and include no special rights, preferences, &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:19.2399em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0377em;&quot;&gt;or restrictions. All shares are fully paid up. Shares are issued in multiples of 20. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:20.823em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_85&quot; style=&quot;word-spacing:-0.0371em;&quot;&gt;The share capital is specified as follows: &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:22.5578em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:12.0168em;top:22.5578em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:14.8512em;top:22.5578em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:17.6856em;top:22.5578em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2022 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:20.52em;top:22.5578em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2021 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:23.3544em;top:22.5578em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2020 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7784em;top:24.2676em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_139&quot; style=&quot;word-spacing:-0.0023em;&quot;&gt;Share capital at 1 January &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:12.3539em;top:24.2676em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;453 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:15.1884em;top:24.2676em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;453 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:18.0228em;top:24.2676em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;453 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:20.8572em;top:24.2676em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;453 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:23.6916em;top:24.2676em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;449 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:25.2686em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_292&quot; style=&quot;word-spacing:0.0032em;&quot;&gt;Capital increase &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:13.1508em;top:25.2686em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:15.9852em;top:25.2686em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:18.8196em;top:25.2686em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:21.654em;top:25.2686em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:24.3671em;top:25.2686em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;4&lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.776em;top:26.2696em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_397&quot; style=&quot;word-spacing:0.0037em;&quot;&gt;Share capital at 31 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.776em;top:27.0197em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_544&quot;&gt;December &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:12.3516em;top:27.0197em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;453 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:15.186em;top:27.0197em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;453 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:18.0204em;top:27.0197em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;453 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:20.8549em;top:27.0197em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;453 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:23.6893em;top:27.0197em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;453 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7749em;top:29.3811em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_531 stl_08 stl_130&quot; style=&quot;word-spacing:-0.0296em;&quot;&gt;Translation reserve &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7749em;top:30.1726em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_106&quot; style=&quot;word-spacing:-0.0347em;&quot;&gt;Exchange differences arising on translation of foreign controlled entities are rec- &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7749em;top:30.9642em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0356em;&quot;&gt;ognised in other comprehensive income and accumulated in a separate reserve &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7749em;top:31.7558em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_90&quot; style=&quot;word-spacing:-0.0358em;&quot;&gt;within equity. The cumulative amount is reclassified to profit or loss when the net &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7749em;top:32.5474em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_130&quot; style=&quot;word-spacing:-0.0299em;&quot;&gt;investment is disposed of. &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;          &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:13.7193em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_531 stl_08 stl_179&quot; style=&quot;word-spacing:-0.0312em;&quot;&gt;Treasury shares &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:14.5109em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_114&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;Treasury shares are bought back to enable swaps of minority shareholders &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:15.3025em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_81&quot; style=&quot;word-spacing:-0.033em;&quot;&gt;shares in NTG subsidiaries under the Ring-the-Bell concept and to cover obli- &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:16.094em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_90&quot; style=&quot;word-spacing:-0.0348em;&quot;&gt;gations arising under future share-based incentive programs and potentially for &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:16.8856em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_297&quot; style=&quot;word-spacing:-0.0394em;&quot;&gt;other purposes such as payment in relation to M&amp;amp;A transactions. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:18.4688em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_234&quot; style=&quot;word-spacing:-0.04em;&quot;&gt;The treasury share reserve contains the nominal value of treasury shares, where &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:19.2604em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0373em;&quot;&gt;any difference to the market price is recognised directly in retained earnings in &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:20.052em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_72&quot;&gt;equity. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:21.6351em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_271&quot; style=&quot;word-spacing:-0.0428em;&quot;&gt;The reserve is a distributable reserve. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3935em;top:13.7193em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_531 stl_08 stl_86&quot;&gt;Dividends &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3935em;top:14.5108em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0367em;&quot;&gt;Dividends are recognised as a liability when approved by the shareholders at the &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3935em;top:15.3024em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_320&quot; style=&quot;word-spacing:-0.0387em;&quot;&gt;Annual General Meeting. Dividends recommended to be paid for the year are &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3935em;top:16.094em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_410&quot; style=&quot;word-spacing:-0.0386em;&quot;&gt;stated as a separate line item under equity until approved at the Annual General &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3935em;top:16.8856em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0356em;&quot;&gt;Meeting. No dividends have been proposed for 2024. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;            &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:56.7629em;top:24.3464em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_23&quot; style=&quot;word-spacing:-0.0182em;&quot;&gt;Nominal value &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:62.6061em;top:24.3464em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_22&quot; style=&quot;word-spacing:-0.0009em;&quot;&gt;Part of share &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:67.9256em;top:24.3464em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_37&quot; style=&quot;word-spacing:-0.012em;&quot;&gt;Market value &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.4547em;top:25.0966em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_135&quot; style=&quot;word-spacing:-0.0132em;&quot;&gt;Number of shares &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:58.4289em;top:25.0966em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:64.1905em;top:25.0966em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_156&quot;&gt;capital &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:69.2952em;top:25.0966em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0864em;top:26.8063em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_40&quot; style=&quot;word-spacing:0.0014em;&quot;&gt;Treasury shares at 1 January &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:52.4305em;top:26.8063em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,387,472 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:59.8353em;top:26.8063em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;28 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:64.6414em;top:26.8063em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;6.1% &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:70.3633em;top:26.8063em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;408 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.087em;top:27.8073em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_301&quot; style=&quot;word-spacing:0.0027em;&quot;&gt;Ring-the-Bell consideration paid &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:53.0383em;top:27.8073em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_128&quot;&gt;-40,730 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:59.9572em;top:27.8073em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-1 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:64.4466em;top:27.8073em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_128&quot;&gt;-0.2% &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:70.4846em;top:27.8073em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-14 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0864em;top:28.8083em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_25&quot; style=&quot;word-spacing:-0.0186em;&quot;&gt;Other transactions &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:53.0377em;top:28.8083em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_128&quot;&gt;-55,639 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:59.9566em;top:28.8083em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-1 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:64.446em;top:28.8083em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_128&quot;&gt;-0.2% &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:70.484em;top:28.8083em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-16 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0858em;top:29.8093em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_617&quot; style=&quot;word-spacing:0.0123em;&quot;&gt;Value adjustment &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:70.484em;top:29.8093em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-47 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0858em;top:30.8103em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_586&quot; style=&quot;word-spacing:0.0068em;&quot;&gt;Treasury shares at 31 December &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:52.4299em;top:30.8103em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,291,103 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:59.8347em;top:30.8103em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;26 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:64.6408em;top:30.8103em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;5.7% &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:70.3627em;top:30.8103em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;331 &lt;/span&gt;&#xA;              &lt;/div&gt;" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8378" sourceLine="59551"><property name="QName" value="ix:continuation" /><property name="id" value="fact8378" /><property name="continuedAt" value="fact8379" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8379" sourceLine="59794"><property name="QName" value="ix:continuation" /><property name="id" value="fact8379" /><property name="continuedAt" value="fact8381" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8381" sourceLine="59654"><property name="QName" value="ix:continuation" /><property name="id" value="fact8381" /><property name="continuedAt" value="fact8383" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8383" sourceLine="59685"><property name="QName" value="ix:continuation" /><property name="id" value="fact8383" /><property name="continuedAt" value="fact8384" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8384" sourceLine="59703"><property name="QName" value="ix:continuation" /><property name="id" value="fact8384" /></ref></entry><entry code="ESEF.2.2.6.textContentOrdering" level="warning"><message qname="ifrs-full:DisclosureOfFinancialRiskManagementExplanatory">2025-03-05 17:25:11,558 [ESEF.2.2.6.textContentOrdering] The text content of tagged fact should have same order as human-readable report, ix:continuation elements out of order:  ifrs-full:DisclosureOfFinancialRiskManagementExplanatory - NTG-2024-12-31-en.xhtml 59961, 60041, 60100, 60137, 60203, 60262, 60292, 60311, 60341, 60405, 60435, 60450, 60649
</message><ref href="NTG-2024-12-31-en.xhtml#fact8388" sourceLine="59961"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="59961" /><property name="label" value="ifrs-full:DisclosureOfFinancialRiskManagementExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DisclosureOfFinancialRiskManagementExplanatory" /><property name="QName" value="ifrs-full:DisclosureOfFinancialRiskManagementExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:9.4017em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_531 stl_08 stl_356&quot; style=&quot;word-spacing:0.2954em;&quot;&gt;6.3 Capital&lt;/span&gt;&#xA;                &lt;span class=&quot;stl_531 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0228em;&quot;&gt;&lt;/span&gt;&#xA;                &lt;span class=&quot;stl_531 stl_08 stl_119&quot;&gt;management &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:10.1933em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0362em;&quot;&gt;Objectives of capital management are to safeguard the Groups ability to contin- &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:10.9849em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_85&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;ue as a going concern, to provide returns for shareholders and benefits for other &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:11.7765em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_56&quot; style=&quot;word-spacing:-0.0397em;&quot;&gt;stakeholders by maintaining an optimal capital structure and reducing costs of &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:12.568em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_258&quot;&gt;capital. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:14.1512em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0376em;&quot;&gt;Free cash flows are allocated in the priority below: &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:15.7344em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.7954em;top:15.7344em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_85&quot; style=&quot;word-spacing:-0.0371em;&quot;&gt;Maintain a leverage ratio in line with the target. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:16.526em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.7954em;top:16.526em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_234&quot; style=&quot;word-spacing:-0.0401em;&quot;&gt;Secure a sufficient capital buffer for investments in organic growth, acquisi- &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.7954em;top:17.3175em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0375em;&quot;&gt;tions, and other strategic initiatives. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:18.1091em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.7954em;top:18.1091em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0351em;&quot;&gt;Cover obligations in relation to acquisition of minority shareholders shares in &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.7954em;top:18.9007em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0364em;&quot;&gt;subsidiaries and obligations under share-based incentive programs. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:19.6923em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.7954em;top:19.6923em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.039em;&quot;&gt;Distribute excess capital to shareholders through share buyback programs. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:21.2754em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0373em;&quot;&gt;Executive Management and the Board of Directors monitor the share and &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:22.067em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_343&quot; style=&quot;word-spacing:-0.0391em;&quot;&gt;capital structure to ensure the Groups capital resources support strategic goals. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:22.8586em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_480&quot; style=&quot;word-spacing:-0.0398em;&quot;&gt;Through a close dialogue with its main lenders, the Group can secure funding &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:23.6502em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0363em;&quot;&gt;of strategic initiatives within a short time frame. Change of control clauses are &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:24.4418em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;generally included in NTGs credit agreements. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:26.0249em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_121&quot; style=&quot;word-spacing:-0.0328em;&quot;&gt;The Groups target leverage ratio (measured as NIBD including IFRS 16 relative &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:26.8165em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;to adj. EBITDA) is below 3.0x. This level may be temporarily exceeded imme- &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:27.6081em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_212&quot; style=&quot;word-spacing:-0.0342em;&quot;&gt;diately after significant acquisitions. The Groups leverage ratio was 2.0x at 31 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:28.3997em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_108&quot; style=&quot;word-spacing:-0.0314em;&quot;&gt;December 2024. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;            &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:9.3999em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_531 stl_08 stl_406&quot; style=&quot;word-spacing:0.3164em;&quot;&gt;6.4 Financial&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_531 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0183em;&quot;&gt;&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_531 stl_08 stl_480&quot;&gt;risks &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:10.1915em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_463&quot; style=&quot;word-spacing:-0.0342em;&quot;&gt;The overall financial risk management framework is laid down in the Groups finance &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:10.9831em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_308&quot; style=&quot;word-spacing:-0.035em;&quot;&gt;policy, investment policy and policies regarding credit risks. The Groups finance &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:11.7747em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_456&quot; style=&quot;word-spacing:-0.0354em;&quot;&gt;functions manage financial risk at centralised level. Thus, the Groups financial &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:12.5663em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_351&quot; style=&quot;word-spacing:-0.0374em;&quot;&gt;management is aimed solely at managing and reducing the financial risks directly &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:13.3579em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_308&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;associated with the Groups operations and financing. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:14.941em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_244&quot; style=&quot;word-spacing:-0.036em;&quot;&gt;Disclosures in this note concern financial risks most significant for the Group, &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:15.7326em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_377&quot; style=&quot;word-spacing:-0.0346em;&quot;&gt;which are: &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:17.3158em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.1025em;top:17.3158em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_357&quot; style=&quot;word-spacing:-0.0407em;&quot;&gt;Currency risk &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:18.1074em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.1025em;top:18.1074em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0354em;&quot;&gt;Interest risk &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:18.8989em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.1025em;top:18.8989em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_234&quot; style=&quot;word-spacing:-0.0396em;&quot;&gt;Liquidity risk &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:19.6905em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.1025em;top:19.6905em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0363em;&quot;&gt;Credit risk &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;              &#xA;            &#xA;          &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:21.2323em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_618 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0355em;&quot;&gt;Currency risk &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:22.0239em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0353em;&quot;&gt;Foreign currency risk is the risk that the fair value of future cash flows of an ex- &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:22.8154em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0343em;&quot;&gt;posure will fluctuate because of changes in foreign exchange rates. The Groups &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:23.607em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_76&quot; style=&quot;word-spacing:-0.0338em;&quot;&gt;exposure to the risk of changes in foreign exchange rates relates primarily to the &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:24.3986em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0382em;&quot;&gt;Groups operating activities due to the international activities of the Group. The &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:25.1902em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0367em;&quot;&gt;Groups revenues are mainly denominated in EUR, USD, DKK and SEK. Expenses &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:25.9818em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.035em;&quot;&gt;have a pattern in line with revenue. The EUR rate is fixed to the DKK and is &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:26.7733em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0368em;&quot;&gt;therefore not perceived to present a significant currency risk. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:28.3565em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0378em;&quot;&gt;Sensitivity analysis of currency exposure based on the net exposure of the &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:29.1481em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0368em;&quot;&gt;Group, the hypothetical impact of exchange rate fluctuations on profit for the &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:29.9397em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_127&quot; style=&quot;word-spacing:-0.0301em;&quot;&gt;year and equity, is as follows: &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:63.2465em;top:31.6771em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_158&quot; style=&quot;word-spacing:-0.0225em;&quot;&gt;Sensitivity analysis &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:60.7731em;top:32.737em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_292&quot; style=&quot;word-spacing:0.0032em;&quot;&gt;Change in &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:64.9941em;top:32.737em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_285&quot; style=&quot;word-spacing:0.0027em;&quot;&gt;Impact on &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:68.7735em;top:32.737em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_285&quot; style=&quot;word-spacing:0.0027em;&quot;&gt;Impact on &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3939em;top:33.4871em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:59.6951em;top:33.4871em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_661&quot; style=&quot;word-spacing:0.0117em;&quot;&gt;exchange rate &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:64.8524em;top:33.4871em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_210&quot;&gt;profit/loss &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.7372em;top:33.4871em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_128&quot;&gt;equity &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3945em;top:34.8936em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_544&quot;&gt;USD/DKK &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.344em;top:34.8936em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-5% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.253em;top:34.8936em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-15 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.5049em;top:34.8936em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-42 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3945em;top:35.8946em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_221&quot;&gt;SEK/DKK &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.344em;top:35.8946em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-5% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.5913em;top:35.8946em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-6 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:71.1815em;top:35.8946em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3945em;top:36.8956em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_221&quot;&gt;PLN/DKK &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.344em;top:36.8956em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-5% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.8077em;top:36.8956em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.8432em;top:36.8956em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_281&quot;&gt;-5 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3945em;top:38.4653em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.037em;&quot;&gt;The Group is not significantly exposed to foreign currency risk from items in &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3945em;top:39.2569em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0351em;&quot;&gt;other comprehensive income. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:10.2378em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_618 stl_08 stl_105&quot; style=&quot;word-spacing:-0.0338em;&quot;&gt;Interest risk &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:11.0294em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0368em;&quot;&gt;Interest rate risk is the risk that the fair value of future cash flows of a finan- &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:11.821em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0371em;&quot;&gt;cial instrument will fluctuate because of changes in market interest rates. The &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:12.6126em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0353em;&quot;&gt;Groups exposure to interest risk arises mainly from the revolving credit facility &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:13.4042em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_105&quot; style=&quot;word-spacing:-0.034em;&quot;&gt;held by Group. The material amount relates to short-term facilities and manage- &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:14.1957em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_480&quot; style=&quot;word-spacing:-0.0401em;&quot;&gt;ment expects to repay the credit facility in the short term. Therefore, exposure &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:14.9873em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_76&quot; style=&quot;word-spacing:-0.0336em;&quot;&gt;to interest rate risk is considered immaterial. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:16.5705em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0375em;&quot;&gt;The Group regularly monitors its interest rate risk and considers it to be insignifi- &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:17.3621em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0373em;&quot;&gt;cant, therefore an interest rate sensitivity analysis is not deemed necessary. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:18.9038em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_618 stl_08 stl_480&quot; style=&quot;word-spacing:-0.0393em;&quot;&gt;Liquidity risks &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:19.6954em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;The Group is exposed to liquidity risk in relation to meeting future obligations &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:20.487em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_85&quot; style=&quot;word-spacing:-0.0371em;&quot;&gt;associated with its financial liabilities, which mainly include trade payables, other &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:21.2786em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;payables and credit facility. The Group ensures adequate liquidity through the &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:22.0702em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;management of cash flow forecasts and close monitoring of cash inflows and &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:22.8617em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0364em;&quot;&gt;outflows and through inter-Group treasury accounts. In addition to cash flow &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:23.6533em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_117&quot; style=&quot;word-spacing:-0.0376em;&quot;&gt;from operations, the Groups liquidity position is secured through committed &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:24.4449em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0362em;&quot;&gt;credit facilities with the Groups primary banks. At 31 December 2024, the un- &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:25.2365em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_106&quot; style=&quot;word-spacing:-0.0347em;&quot;&gt;drawn amount of committed credit facilities totalled DKK 378 million. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:26.7782em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_618 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0351em;&quot;&gt;Credit risks &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:27.5698em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;The Groups credit risks are partly linked to receivables and cash at bank and in &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:28.3614em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0374em;&quot;&gt;hand. The maximum credit risk linked to financial assets corresponds to the val- &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:29.153em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0372em;&quot;&gt;ues recognised in the balance sheet. The Group has no significant risk regarding &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:29.9446em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0367em;&quot;&gt;one individual customer or partner. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:10.2135em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0377em;&quot;&gt;During 2024, the Group expensed DKK 21 million on expected losses on trade &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:11.0051em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0351em;&quot;&gt;receivables, corresponding to 0.22% of the Groups net revenue. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:12.5882em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.0381em;&quot;&gt;Due to insignificant historic realised losses on trade receivables, the Group &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:13.3798em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_320&quot; style=&quot;word-spacing:-0.0385em;&quot;&gt;applies a simplified approach in calculating expected credit losses. Therefore, &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:14.1714em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0376em;&quot;&gt;the Group does not track changes in credit risk, but instead recognises a loss &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:14.963em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0376em;&quot;&gt;allowance based on lifetime expected credit losses at each reporting date. The &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:15.7546em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0377em;&quot;&gt;Group has established a provision matrix that is based on its historical credit loss &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:16.5461em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_489&quot; style=&quot;word-spacing:-0.0393em;&quot;&gt;experience, adjusted for forward-looking factors specific to the debtors and the &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:17.3377em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0367em;&quot;&gt;economic environment. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;            &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:18.9209em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_106&quot; style=&quot;word-spacing:-0.0348em;&quot;&gt;At 31 December 2024 trade receivables were written down by DKK 77 million &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:19.7125em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_73&quot; style=&quot;word-spacing:-0.0335em;&quot;&gt;(2023: DKK 59 million). Individual assessments mainly cover specific debtors, &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:20.5041em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_195&quot; style=&quot;word-spacing:-0.0333em;&quot;&gt;where settlement of accounts is assumed to be unlikely. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;          &#xA;            &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:10.2123em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_120&quot; style=&quot;word-spacing:-0.0388em;&quot;&gt;Expected losses on trade receivables, based on weighted loss percentages, are &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:11.0039em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_126&quot; style=&quot;word-spacing:-0.03em;&quot;&gt;as follows: &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:12.5871em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0343em;&quot;&gt;The closing loss allowances for trade receivables as of 31 December 2024 recon- &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:13.3786em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_195&quot; style=&quot;word-spacing:-0.0332em;&quot;&gt;cile to the opening allowances as follows: &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;          &#xA;            &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:14.9618em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_211 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0371em;&quot;&gt;Movement in allowance for doubtful trade receivables &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:15.9055em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.1583em;top:15.9055em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.9377em;top:15.9055em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:17.6152em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_270&quot; style=&quot;word-spacing:-0.0038em;&quot;&gt;Carrying amount at 1 January &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.8344em;top:17.6152em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;59 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6138em;top:17.6152em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;63 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3925em;top:18.6162em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_263&quot; style=&quot;word-spacing:0.0029em;&quot;&gt;Additions through business combinations &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:67.1721em;top:18.6162em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;8&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:71.0735em;top:18.6162em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3925em;top:19.6172em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_397&quot; style=&quot;word-spacing:-0.0024em;&quot;&gt;Impairments realised during the year &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.6174em;top:19.6172em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-11 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.3968em;top:19.6172em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-24 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3925em;top:20.6182em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_544&quot; style=&quot;word-spacing:-0.0048em;&quot;&gt;Allowances for losses during the year &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.8338em;top:20.6182em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;21 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6132em;top:20.6182em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;20 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.392em;top:21.6192em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_301&quot; style=&quot;word-spacing:0.0026em;&quot;&gt;Carrying amount at 31 December &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.8332em;top:21.6192em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;77 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6126em;top:21.6192em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;59 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;          &#xA;            &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0843em;top:23.9782em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0377em;&quot;&gt;Impairment losses on trade receivables are presented as net impairment losses within operating profit. Subsequent recoveries of amounts previously written off are &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0843em;top:24.7698em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0377em;&quot;&gt;credited against the same line item. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0843em;top:26.0339em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_211 stl_08 stl_253&quot; style=&quot;word-spacing:-0.0403em;&quot;&gt;Credit risks in trade receivables &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:44.7722em;top:27.214em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.3708em;top:27.214em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:38.6046em;top:28.215em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_292&quot; style=&quot;word-spacing:0.0027em;&quot;&gt;Gross carrying &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:45.5912em;top:28.215em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_138&quot;&gt;Expected &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:56.2026em;top:28.215em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_292&quot; style=&quot;word-spacing:0.0027em;&quot;&gt;Gross carrying &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:63.1892em;top:28.215em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_138&quot;&gt;Expected &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0867em;top:28.9652em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:40.3558em;top:28.9652em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_285&quot;&gt;amount &lt;/span&gt;&#xA;         ..." /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8389" sourceLine="60041"><property name="QName" value="ix:continuation" /><property name="id" value="fact8389" /><property name="continuedAt" value="fact8394" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8394" sourceLine="60100"><property name="QName" value="ix:continuation" /><property name="id" value="fact8394" /><property name="continuedAt" value="fact8396" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8396" sourceLine="60137"><property name="QName" value="ix:continuation" /><property name="id" value="fact8396" /><property name="continuedAt" value="fact8399" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8399" sourceLine="60203"><property name="QName" value="ix:continuation" /><property name="id" value="fact8399" /><property name="continuedAt" value="fact8401" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8401" sourceLine="60311"><property name="QName" value="ix:continuation" /><property name="id" value="fact8401" /><property name="continuedAt" value="fact8403" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8403" sourceLine="60405"><property name="QName" value="ix:continuation" /><property name="id" value="fact8403" /><property name="continuedAt" value="fact8405" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8405" sourceLine="60649"><property name="QName" value="ix:continuation" /><property name="id" value="fact8405" /><property name="continuedAt" value="fact8407" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8407" sourceLine="60262"><property name="QName" value="ix:continuation" /><property name="id" value="fact8407" /><property name="continuedAt" value="fact8408" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8408" sourceLine="60435"><property name="QName" value="ix:continuation" /><property name="id" value="fact8408" /><property name="continuedAt" value="fact8411" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8411" sourceLine="60292"><property name="QName" value="ix:continuation" /><property name="id" value="fact8411" /><property name="continuedAt" value="fact8414" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8414" sourceLine="60341"><property name="QName" value="ix:continuation" /><property name="id" value="fact8414" /><property name="continuedAt" value="fact8417" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8417" sourceLine="60450"><property name="QName" value="ix:continuation" /><property name="id" value="fact8417" /></ref></entry><entry code="ESEF.2.2.6.textContentOrdering" level="warning"><message qname="ifrs-full:DisclosureOfCreditRiskExplanatory">2025-03-05 17:25:11,558 [ESEF.2.2.6.textContentOrdering] The text content of tagged fact should have same order as human-readable report, ix:continuation elements out of order:  ifrs-full:DisclosureOfCreditRiskExplanatory - NTG-2024-12-31-en.xhtml 60044, 60261, 60293, 60342, 60436, 60451, 60648
</message><ref href="NTG-2024-12-31-en.xhtml#fact8392" sourceLine="60044"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="60044" /><property name="label" value="ifrs-full:DisclosureOfCreditRiskExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DisclosureOfCreditRiskExplanatory" /><property name="QName" value="ifrs-full:DisclosureOfCreditRiskExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:9.3999em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_531 stl_08 stl_406&quot; style=&quot;word-spacing:0.3164em;&quot;&gt;6.4 Financial&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_531 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0183em;&quot;&gt;&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_531 stl_08 stl_480&quot;&gt;risks &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:10.1915em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_463&quot; style=&quot;word-spacing:-0.0342em;&quot;&gt;The overall financial risk management framework is laid down in the Groups finance &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:10.9831em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_308&quot; style=&quot;word-spacing:-0.035em;&quot;&gt;policy, investment policy and policies regarding credit risks. The Groups finance &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:11.7747em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_456&quot; style=&quot;word-spacing:-0.0354em;&quot;&gt;functions manage financial risk at centralised level. Thus, the Groups financial &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:12.5663em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_351&quot; style=&quot;word-spacing:-0.0374em;&quot;&gt;management is aimed solely at managing and reducing the financial risks directly &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:13.3579em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_308&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;associated with the Groups operations and financing. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:14.941em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_244&quot; style=&quot;word-spacing:-0.036em;&quot;&gt;Disclosures in this note concern financial risks most significant for the Group, &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:15.7326em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_377&quot; style=&quot;word-spacing:-0.0346em;&quot;&gt;which are: &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:17.3158em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.1025em;top:17.3158em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_357&quot; style=&quot;word-spacing:-0.0407em;&quot;&gt;Currency risk &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:18.1074em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.1025em;top:18.1074em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0354em;&quot;&gt;Interest risk &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:18.8989em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.1025em;top:18.8989em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_234&quot; style=&quot;word-spacing:-0.0396em;&quot;&gt;Liquidity risk &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:19.6905em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:51.1025em;top:19.6905em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0363em;&quot;&gt;Credit risk &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;            &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:26.7782em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_618 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0351em;&quot;&gt;Credit risks &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:27.5698em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;The Groups credit risks are partly linked to receivables and cash at bank and in &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:28.3614em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0374em;&quot;&gt;hand. The maximum credit risk linked to financial assets corresponds to the val- &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:29.153em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0372em;&quot;&gt;ues recognised in the balance sheet. The Group has no significant risk regarding &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7772em;top:29.9446em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0367em;&quot;&gt;one individual customer or partner. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;          &#xA;            &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:10.2135em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0377em;&quot;&gt;During 2024, the Group expensed DKK 21 million on expected losses on trade &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:11.0051em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0351em;&quot;&gt;receivables, corresponding to 0.22% of the Groups net revenue. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:12.5882em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.0381em;&quot;&gt;Due to insignificant historic realised losses on trade receivables, the Group &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:13.3798em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_320&quot; style=&quot;word-spacing:-0.0385em;&quot;&gt;applies a simplified approach in calculating expected credit losses. Therefore, &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:14.1714em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0376em;&quot;&gt;the Group does not track changes in credit risk, but instead recognises a loss &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:14.963em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0376em;&quot;&gt;allowance based on lifetime expected credit losses at each reporting date. The &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:15.7546em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0377em;&quot;&gt;Group has established a provision matrix that is based on its historical credit loss &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:16.5461em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_489&quot; style=&quot;word-spacing:-0.0393em;&quot;&gt;experience, adjusted for forward-looking factors specific to the debtors and the &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:17.3377em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0367em;&quot;&gt;economic environment. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;          &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:18.9209em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_106&quot; style=&quot;word-spacing:-0.0348em;&quot;&gt;At 31 December 2024 trade receivables were written down by DKK 77 million &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:19.7125em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_73&quot; style=&quot;word-spacing:-0.0335em;&quot;&gt;(2023: DKK 59 million). Individual assessments mainly cover specific debtors, &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:20.5041em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_195&quot; style=&quot;word-spacing:-0.0333em;&quot;&gt;where settlement of accounts is assumed to be unlikely. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:10.2123em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_120&quot; style=&quot;word-spacing:-0.0388em;&quot;&gt;Expected losses on trade receivables, based on weighted loss percentages, are &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:11.0039em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_126&quot; style=&quot;word-spacing:-0.03em;&quot;&gt;as follows: &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:12.5871em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0343em;&quot;&gt;The closing loss allowances for trade receivables as of 31 December 2024 recon- &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:13.3786em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_195&quot; style=&quot;word-spacing:-0.0332em;&quot;&gt;cile to the opening allowances as follows: &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:14.9618em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_211 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0371em;&quot;&gt;Movement in allowance for doubtful trade receivables &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:15.9055em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.1583em;top:15.9055em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.9377em;top:15.9055em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:17.6152em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_270&quot; style=&quot;word-spacing:-0.0038em;&quot;&gt;Carrying amount at 1 January &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.8344em;top:17.6152em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;59 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6138em;top:17.6152em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;63 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3925em;top:18.6162em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_263&quot; style=&quot;word-spacing:0.0029em;&quot;&gt;Additions through business combinations &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:67.1721em;top:18.6162em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;8&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:71.0735em;top:18.6162em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3925em;top:19.6172em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_397&quot; style=&quot;word-spacing:-0.0024em;&quot;&gt;Impairments realised during the year &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.6174em;top:19.6172em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-11 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.3968em;top:19.6172em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-24 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3925em;top:20.6182em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_544&quot; style=&quot;word-spacing:-0.0048em;&quot;&gt;Allowances for losses during the year &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.8338em;top:20.6182em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;21 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6132em;top:20.6182em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;20 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.392em;top:21.6192em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_301&quot; style=&quot;word-spacing:0.0026em;&quot;&gt;Carrying amount at 31 December &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.8332em;top:21.6192em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;77 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6126em;top:21.6192em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;59 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0843em;top:23.9782em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0377em;&quot;&gt;Impairment losses on trade receivables are presented as net impairment losses within operating profit. Subsequent recoveries of amounts previously written off are &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0843em;top:24.7698em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0377em;&quot;&gt;credited against the same line item. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0843em;top:26.0339em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_211 stl_08 stl_253&quot; style=&quot;word-spacing:-0.0403em;&quot;&gt;Credit risks in trade receivables &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:44.7722em;top:27.214em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.3708em;top:27.214em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:38.6046em;top:28.215em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_292&quot; style=&quot;word-spacing:0.0027em;&quot;&gt;Gross carrying &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:45.5912em;top:28.215em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_138&quot;&gt;Expected &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:56.2026em;top:28.215em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_292&quot; style=&quot;word-spacing:0.0027em;&quot;&gt;Gross carrying &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:63.1892em;top:28.215em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_138&quot;&gt;Expected &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0867em;top:28.9652em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:40.3558em;top:28.9652em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_285&quot;&gt;amount &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:45.8496em;top:28.9652em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_279&quot; style=&quot;word-spacing:0.005em;&quot;&gt;loss rate &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:49.7877em;top:28.9652em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_290&quot; style=&quot;word-spacing:0.007em;&quot;&gt;Loss allowance &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:57.9538em;top:28.9652em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_285&quot;&gt;amount &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:63.4476em;top:28.9652em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_279&quot; style=&quot;word-spacing:0.005em;&quot;&gt;loss rate &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:67.3857em;top:28.9652em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_290&quot; style=&quot;word-spacing:0.007em;&quot;&gt;Loss allowance &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0861em;top:30.6749em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_252&quot; style=&quot;word-spacing:0.0173em;&quot;&gt;Not overdue &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:40.8918em;top:30.6749em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,102 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.7648em;top:30.6749em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.2% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:53.3775em;top:30.6749em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.9606em;top:30.6749em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;804 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:64.3629em;top:30.6749em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.2% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.9755em;top:30.6749em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0855em;top:31.6759em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_09&quot; style=&quot;word-spacing:0.0067em;&quot;&gt;1-30 days &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:41.362em;top:31.6759em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;331 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.7643em;top:31.6759em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.5% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:53.3769em;top:31.6759em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.96em;top:31.6759em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;246 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:64.3623em;top:31.6759em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.5% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.9749em;top:31.6759em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0849em;top:32.6769em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_286&quot; style=&quot;word-spacing:0.005em;&quot;&gt;31-180 days &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:41.3614em;top:32.6769em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;101 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.7637em;top:32.6769em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.0% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:53.3764em;top:32.6769em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:59.2978em;top:32.6769em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;71 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:64.3617em;top:32.6769em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.0% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.9744em;top:32.6769em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0844em;top:33.6779em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_20&quot; style=&quot;word-spacing:0.0054em;&quot;&gt;181 - 360 days &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:41.6992em;top:33.6779em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;14 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.4248em;top:33.6779em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;50.0% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:53.3758em;top:33.6779em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;7&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:59.2972em;top:33.6779em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;14 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:64.0228em;top:33.6779em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;50.0% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.9738em;top:33.6779em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;7&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0838em;top:34.6789em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_219&quot; style=&quot;word-spacing:0.0101em;&quot;&gt;More than 360 days &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:41.6986em;top:34.6789em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;54 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.0859em;top:34.6789em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;100.0% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:53.0369em;top:34.6789em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;54 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:59.2966em;top:34.6789em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;39 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:63.6838em;top:34.6789em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;100.0% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6348em;top:34.6789em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;39 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0832em;top:35.6799em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_290&quot; style=&quot;word-spacing:0.007em;&quot;&gt;Loss allowance &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:40.8813em;top:35.6799em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,602 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:53.0369em;top:35.6799em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;67 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.4799em;top:35.6799em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,174 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6354em;top:35.6799em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;50 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0838em;top:37.6819em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_158&quot; style=&quot;word-spacing:0.0015em;&quot;&gt;Individual assessments &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:53.0369em;top:37.6819em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;10 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.9738em;top:37.6819em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;9&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0838em;top:38.6829em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_290&quot; style=&quot;word-spacing:0.007em;&quot;&gt;Loss allowance &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:40.8819em;top:38.6829em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,602 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:53.0374em;top:38.6829em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;77 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.4805em;top:38.6829em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,174 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.636em;top:38.6829em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;59 &lt;/span&gt;&#xA;                &lt;/div&gt;" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8404" sourceLine="60648"><property name="QName" value="ix:continuation" /><property name="id" value="fact8404" /><property name="continuedAt" value="fact8406" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8406" sourceLine="60261"><property name="QName" value="ix:continuation" /><property name="id" value="fact8406" /><property name="continuedAt" value="fact8409" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8409" sourceLine="60436"><property name="QName" value="ix:continuation" /><property name="id" value="fact8409" /><property name="continuedAt" value="fact8412" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8412" sourceLine="60293"><property name="QName" value="ix:continuation" /><property name="id" value="fact8412" /><property name="continuedAt" value="fact8415" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8415" sourceLine="60342"><property name="QName" value="ix:continuation" /><property name="id" value="fact8415" /><property name="continuedAt" value="fact8418" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8418" sourceLine="60451"><property name="QName" value="ix:continuation" /><property name="id" value="fact8418" /></ref></entry><entry code="ESEF.2.2.6.textContentOrdering" level="warning"><message qname="ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory">2025-03-05 17:25:11,558 [ESEF.2.2.6.textContentOrdering] The text content of tagged fact should have same order as human-readable report, ix:continuation elements out of order:  ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory - NTG-2024-12-31-en.xhtml 60294, 60343, 60437, 60452
</message><ref href="NTG-2024-12-31-en.xhtml#fact8410" sourceLine="60437"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="60437" /><property name="label" value="ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DisclosureOfAllowanceForCreditLossesExplanatory" /><property name="QName" value="ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:18.9209em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_106&quot; style=&quot;word-spacing:-0.0348em;&quot;&gt;At 31 December 2024 trade receivables were written down by DKK 77 million &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:19.7125em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_73&quot; style=&quot;word-spacing:-0.0335em;&quot;&gt;(2023: DKK 59 million). Individual assessments mainly cover specific debtors, &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:20.5041em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_195&quot; style=&quot;word-spacing:-0.0333em;&quot;&gt;where settlement of accounts is assumed to be unlikely. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:10.2123em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_120&quot; style=&quot;word-spacing:-0.0388em;&quot;&gt;Expected losses on trade receivables, based on weighted loss percentages, are &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:11.0039em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_126&quot; style=&quot;word-spacing:-0.03em;&quot;&gt;as follows: &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:12.5871em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0343em;&quot;&gt;The closing loss allowances for trade receivables as of 31 December 2024 recon- &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:13.3786em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_195&quot; style=&quot;word-spacing:-0.0332em;&quot;&gt;cile to the opening allowances as follows: &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:14.9618em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_211 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0371em;&quot;&gt;Movement in allowance for doubtful trade receivables &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:15.9055em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.1583em;top:15.9055em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:69.9377em;top:15.9055em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:17.6152em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_270&quot; style=&quot;word-spacing:-0.0038em;&quot;&gt;Carrying amount at 1 January &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.8344em;top:17.6152em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;59 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6138em;top:17.6152em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;63 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3925em;top:18.6162em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_263&quot; style=&quot;word-spacing:0.0029em;&quot;&gt;Additions through business combinations &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:67.1721em;top:18.6162em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;8&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:71.0735em;top:18.6162em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;-&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3925em;top:19.6172em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_397&quot; style=&quot;word-spacing:-0.0024em;&quot;&gt;Impairments realised during the year &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.6174em;top:19.6172em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-11 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.3968em;top:19.6172em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_156&quot;&gt;-24 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3925em;top:20.6182em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_544&quot; style=&quot;word-spacing:-0.0048em;&quot;&gt;Allowances for losses during the year &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.8338em;top:20.6182em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;21 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6132em;top:20.6182em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;20 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:50.392em;top:21.6192em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_301&quot; style=&quot;word-spacing:0.0026em;&quot;&gt;Carrying amount at 31 December &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:66.8332em;top:21.6192em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;77 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6126em;top:21.6192em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;59 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0843em;top:23.9782em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0377em;&quot;&gt;Impairment losses on trade receivables are presented as net impairment losses within operating profit. Subsequent recoveries of amounts previously written off are &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0843em;top:24.7698em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0377em;&quot;&gt;credited against the same line item. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0843em;top:26.0339em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_211 stl_08 stl_253&quot; style=&quot;word-spacing:-0.0403em;&quot;&gt;Credit risks in trade receivables &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:44.7722em;top:27.214em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:62.3708em;top:27.214em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:38.6046em;top:28.215em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_292&quot; style=&quot;word-spacing:0.0027em;&quot;&gt;Gross carrying &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:45.5912em;top:28.215em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_138&quot;&gt;Expected &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:56.2026em;top:28.215em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_292&quot; style=&quot;word-spacing:0.0027em;&quot;&gt;Gross carrying &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:63.1892em;top:28.215em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_138&quot;&gt;Expected &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0867em;top:28.9652em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:40.3558em;top:28.9652em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_285&quot;&gt;amount &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:45.8496em;top:28.9652em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_279&quot; style=&quot;word-spacing:0.005em;&quot;&gt;loss rate &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:49.7877em;top:28.9652em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_290&quot; style=&quot;word-spacing:0.007em;&quot;&gt;Loss allowance &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:57.9538em;top:28.9652em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_285&quot;&gt;amount &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:63.4476em;top:28.9652em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_279&quot; style=&quot;word-spacing:0.005em;&quot;&gt;loss rate &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:67.3857em;top:28.9652em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_290&quot; style=&quot;word-spacing:0.007em;&quot;&gt;Loss allowance &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0861em;top:30.6749em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_252&quot; style=&quot;word-spacing:0.0173em;&quot;&gt;Not overdue &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:40.8918em;top:30.6749em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1,102 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.7648em;top:30.6749em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.2% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:53.3775em;top:30.6749em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.9606em;top:30.6749em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;804 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:64.3629em;top:30.6749em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.2% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.9755em;top:30.6749em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0855em;top:31.6759em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_09&quot; style=&quot;word-spacing:0.0067em;&quot;&gt;1-30 days &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:41.362em;top:31.6759em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;331 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.7643em;top:31.6759em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.5% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:53.3769em;top:31.6759em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.96em;top:31.6759em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;246 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:64.3623em;top:31.6759em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.5% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.9749em;top:31.6759em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0849em;top:32.6769em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_286&quot; style=&quot;word-spacing:0.005em;&quot;&gt;31-180 days &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:41.3614em;top:32.6769em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;101 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.7637em;top:32.6769em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.0% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:53.3764em;top:32.6769em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:59.2978em;top:32.6769em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;71 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:64.3617em;top:32.6769em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.0% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.9744em;top:32.6769em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0844em;top:33.6779em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_20&quot; style=&quot;word-spacing:0.0054em;&quot;&gt;181 - 360 days &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:41.6992em;top:33.6779em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;14 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.4248em;top:33.6779em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;50.0% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:53.3758em;top:33.6779em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;7&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:59.2972em;top:33.6779em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;14 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:64.0228em;top:33.6779em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;50.0% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.9738em;top:33.6779em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;7&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0838em;top:34.6789em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_219&quot; style=&quot;word-spacing:0.0101em;&quot;&gt;More than 360 days &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:41.6986em;top:34.6789em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;54 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.0859em;top:34.6789em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;100.0% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:53.0369em;top:34.6789em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;54 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:59.2966em;top:34.6789em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;39 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:63.6838em;top:34.6789em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;100.0% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6348em;top:34.6789em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;39 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0832em;top:35.6799em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_290&quot; style=&quot;word-spacing:0.007em;&quot;&gt;Loss allowance &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:40.8813em;top:35.6799em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,602 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:53.0369em;top:35.6799em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;67 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.4799em;top:35.6799em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,174 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.6354em;top:35.6799em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;50 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0838em;top:37.6819em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_158&quot; style=&quot;word-spacing:0.0015em;&quot;&gt;Individual assessments &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:53.0369em;top:37.6819em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;10 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.9738em;top:37.6819em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;9&lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0838em;top:38.6829em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_290&quot; style=&quot;word-spacing:0.007em;&quot;&gt;Loss allowance &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:40.8819em;top:38.6829em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,602 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:53.0374em;top:38.6829em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;77 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:58.4805em;top:38.6829em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;1,174 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:70.636em;top:38.6829em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;59 &lt;/span&gt;&#xA;                &lt;/div&gt;" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8413" sourceLine="60294"><property name="QName" value="ix:continuation" /><property name="id" value="fact8413" /><property name="continuedAt" value="fact8416" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8416" sourceLine="60343"><property name="QName" value="ix:continuation" /><property name="id" value="fact8416" /><property name="continuedAt" value="fact8419" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8419" sourceLine="60452"><property name="QName" value="ix:continuation" /><property name="id" value="fact8419" /></ref></entry><entry code="ESEF.2.2.6.textContentOrdering" level="warning"><message qname="ifrs-full:DisclosureOfBusinessCombinationsExplanatory">2025-03-05 17:25:11,574 [ESEF.2.2.6.textContentOrdering] The text content of tagged fact should have same order as human-readable report, ix:continuation elements out of order:  ifrs-full:DisclosureOfBusinessCombinationsExplanatory - NTG-2024-12-31-en.xhtml 60713, 60728, 60768, 60776, 60784, 60851, 60871, 60882, 60907, 60942, 60976, 61057, 61080, 61091, 61230, 61351, 61377, 61412, 61484, 61536, 61568, 61689, 61706, 61726, 61836, 61880
</message><ref href="NTG-2024-12-31-en.xhtml#fact8420" sourceLine="60713"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="60713" /><property name="label" value="ifrs-full:DisclosureOfBusinessCombinationsExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DisclosureOfBusinessCombinationsExplanatory" /><property name="QName" value="ifrs-full:DisclosureOfBusinessCombinationsExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:9.3544em;z-index:7;&quot;&gt;&#xA;              &lt;span class=&quot;stl_305 stl_08 stl_681&quot; style=&quot;word-spacing:0.6025em;&quot;&gt;7. &lt;/span&gt;&#xA;              &lt;span class=&quot;stl_305 stl_08 stl_344&quot;&gt;C&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_305 stl_08 stl_118&quot;&gt;omposition&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_305 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0098em;&quot;&gt;&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_305 stl_08 stl_185&quot; style=&quot;word-spacing:-0.022em;&quot;&gt;of the Group &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:10.5468em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0384em;&quot;&gt;This section provides information how the composition of the Group affects the &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:11.3384em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_327&quot; style=&quot;word-spacing:-0.0355em;&quot;&gt;financial position and performance for the year. &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;          &#xA;            &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:13.7132em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_531 stl_08 stl_318&quot; style=&quot;word-spacing:0.4336em;&quot;&gt;7.1 Acquisition&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_531 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0087em;&quot;&gt;&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_531 stl_08 stl_105&quot; style=&quot;word-spacing:-0.0337em;&quot;&gt;and disposal of entities &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:4.9604em;top:14.658em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_630 stl_08 stl_329&quot; style=&quot;word-spacing:-0.0316em;&quot;&gt;Accounting policies &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:15.533em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_384&quot; style=&quot;word-spacing:-0.0342em;&quot;&gt;Enterprises acquired or formed during the year are recognised in the consolidat- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:16.3246em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_163&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;ed financial statements from the date of acquisition or formation. Enterprises &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:17.1161em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_165&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;disposed of are recognised in the consolidated financial statements up to the &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:17.9077em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_201&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;date of disposal. Discontinued operations and assets held for sale are presented &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:18.6993em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_172&quot; style=&quot;word-spacing:-0.0327em;&quot;&gt;separately. The acquisition method of accounting is used to account for all business &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:19.4909em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_183&quot; style=&quot;word-spacing:-0.0381em;&quot;&gt;combinations, regardless of whether equity instruments or other assets are ac- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:20.2825em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_132&quot; style=&quot;word-spacing:-0.0377em;&quot;&gt;quired. The consideration transferred for the acquisition of a subsidiary comprises: &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:21.0741em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_355&quot; style=&quot;word-spacing:-0.0371em;&quot;&gt;Non-controlling interests are recognised using the same principles &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:22.6572em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:4.4879em;top:22.6572em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_246&quot; style=&quot;word-spacing:-0.0404em;&quot;&gt;fair values of the assets transferred &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:23.4488em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:4.4879em;top:23.4488em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;liabilities incurred to the former owners of the acquired business &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:24.2404em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_29&quot;&gt;&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:4.4879em;top:24.2404em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_246&quot; style=&quot;word-spacing:-0.0406em;&quot;&gt;equity interests issued by the Group &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:25.8236em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_191&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;Identifiable assets acquired, and liabilities and contingent liabilities assumed in a &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:26.6151em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_385&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;business combination are, with limited exceptions, measured initially at their fair &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:27.4067em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_384&quot; style=&quot;word-spacing:-0.0343em;&quot;&gt;values at the acquisition date. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;              &#xA;            &#xA;          &#xA;            &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:4.9604em;top:29.1028em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_630 stl_08 stl_106&quot; style=&quot;word-spacing:-0.0341em;&quot;&gt;Accounting estimates and judgments &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:30.0192em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_163&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;Estimates and assumptions are an integrated part of assessing fair values etc. in &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:30.8108em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_165&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;accordance with the acquisition method of accounting, as observable market prices &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:31.6024em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_373&quot; style=&quot;word-spacing:-0.0397em;&quot;&gt;are seldom available for the acquired assets and liabilities. Assessments are carried &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:32.3939em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_247&quot; style=&quot;word-spacing:-0.0354em;&quot;&gt;out using Managements judgement with regards to future cash flows and other &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:33.1855em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_122&quot; style=&quot;word-spacing:-0.0393em;&quot;&gt;input factors to the valuation models used. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:34.7687em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_191&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;The excess of the consideration transferred over the fair value of the net identi- &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:35.5603em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_183&quot; style=&quot;word-spacing:-0.0381em;&quot;&gt;fiable assets acquired is recorded as goodwill. If those amounts are less than the &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:36.3519em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_318&quot; style=&quot;word-spacing:-0.0376em;&quot;&gt;fair value of the net identifiable assets of the business acquired, the difference is &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:37.1434em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_201&quot; style=&quot;word-spacing:-0.0367em;&quot;&gt;recognised directly in profit or loss as a bargain purchase. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;          &#xA;            &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:10.5224em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_346&quot; style=&quot;word-spacing:-0.0386em;&quot;&gt;Where settlement of any part of a cash consideration is deferred, the amounts &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:11.314em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_384&quot; style=&quot;word-spacing:-0.0342em;&quot;&gt;payable in the future are discounted to their present value as at the date of &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:12.1056em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_173&quot; style=&quot;word-spacing:-0.0356em;&quot;&gt;exchange. The discount rate used is the entitys incremental borrowing rate, being &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:12.8972em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_201&quot; style=&quot;word-spacing:-0.0367em;&quot;&gt;the rate at which a similar borrowing could be obtained from an independent &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:13.6888em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_346&quot; style=&quot;word-spacing:-0.0385em;&quot;&gt;financier under comparable terms and conditions. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:15.2719em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_168&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;Contingent considerations are classified either as equity or financial liabilities. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:16.0635em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_201&quot; style=&quot;word-spacing:-0.0367em;&quot;&gt;Amounts classified as financial liabilities are subsequently remeasured to fair value &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:16.8551em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_165&quot; style=&quot;word-spacing:-0.0358em;&quot;&gt;with changes in fair value recognised in profit or loss. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:18.4383em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_163&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;If measurement of the identifiable net assets is uncertain at the date of acquisition, &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:19.2298em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_201&quot; style=&quot;word-spacing:-0.0367em;&quot;&gt;initial recognition is done based on provisional amounts. Measurement period ad- &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:20.0214em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_247&quot; style=&quot;word-spacing:-0.0356em;&quot;&gt;justments to the provisional amounts may be done for up to 12 months following &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:20.813em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_213 stl_08 stl_172&quot; style=&quot;word-spacing:-0.0328em;&quot;&gt;the date of acquisition. &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;          &#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:22.3962em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_531 stl_08 stl_164&quot; style=&quot;word-spacing:-0.0328em;&quot;&gt;Acquisitions closed during the year &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:23.9793em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_211 stl_08 stl_205&quot; style=&quot;word-spacing:-0.0387em;&quot;&gt;Schmalz+Schn Logistics GmbH Region Stuttgart &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:24.7709em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_169&quot; style=&quot;word-spacing:-0.0338em;&quot;&gt;On 1 October 2024, NTG completed the acquisition of 100% of the shares in &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:25.5625em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_109&quot; style=&quot;word-spacing:-0.0398em;&quot;&gt;Schmalz+Schn Logistics GmbH Region Stuttgart (SSH).&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_29&quot; style=&quot;word-spacing:0.216em;&quot;&gt;&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_373&quot; style=&quot;word-spacing:-0.0398em;&quot;&gt;SSH, a well-established &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:26.3541em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_381&quot; style=&quot;word-spacing:-0.0397em;&quot;&gt;German provider specialising in customised transport and logistics solutions, brings &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:27.1457em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_75&quot; style=&quot;word-spacing:-0.0404em;&quot;&gt;decades of expertise, a team of 330 employees, and a strong reputation for quality &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:27.9373em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_382&quot; style=&quot;word-spacing:-0.0308em;&quot;&gt;and reliability. &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;          &#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:29.479em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_618 stl_08 stl_167&quot; style=&quot;word-spacing:-0.0321em;&quot;&gt;Consideration transferred &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:30.2706em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_146&quot; style=&quot;word-spacing:-0.0347em;&quot;&gt;The total consideration consists of a contingent consideration and a cash payment &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:31.0622em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_165&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;of DKK 406 million, of which DKK 305 million was settled in 2024. The remaining &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:31.8538em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_146&quot; style=&quot;word-spacing:-0.0347em;&quot;&gt;amount of DKK 101 million was settled in early 2025 following the fulfilment &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:32.6453em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_523&quot; style=&quot;word-spacing:-0.0345em;&quot;&gt;of two corporate conditions set out in the SPA. The contingent consideration is &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:33.4369em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_132&quot; style=&quot;word-spacing:-0.0379em;&quot;&gt;determined based on the performance on a key customer in the period from 2025 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:34.2285em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_200&quot; style=&quot;word-spacing:-0.0329em;&quot;&gt;to 2029. A sustained level of financial performance will result in payment of the &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:35.0201em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_523&quot; style=&quot;word-spacing:-0.0341em;&quot;&gt;maximum amount of EUR 5 million (DKK 37 million). The consideration transferred, &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:35.8117em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_496&quot; style=&quot;word-spacing:-0.0382em;&quot;&gt;including the earn-out arrangement, has been measured at fair value. The earn-out &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:36.6033em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_163&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;has been discounted to reflect its present value in accordance with IFRS 3. &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;          &#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:10.5201em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_200&quot; style=&quot;word-spacing:-0.033em;&quot;&gt;On 31 December 2024, the discounted maximum earn-out of EUR 4 million (DKK &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:11.3117em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_430&quot; style=&quot;word-spacing:-0.0314em;&quot;&gt;29 million) was recognised. &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;          &#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:12.8948em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_241&quot; style=&quot;word-spacing:-0.037em;&quot;&gt;Adjusted for the fair value of acquired cash and cash equivalents of DKK 16 mil- &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:13.6864em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_430&quot; style=&quot;word-spacing:-0.0315em;&quot;&gt;lion, the net cash flow in 2024 amounted to DKK 289 million (outflow). &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;          &#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:15.2282em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_618 stl_08 stl_320&quot; style=&quot;word-spacing:-0.0382em;&quot;&gt;Earnings impact &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:16.0198em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_163&quot; style=&quot;word-spacing:-0.0364em;&quot;&gt;During the period after the acquisition, SSH contributed DKK 243 million to the &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:16.8113em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_152&quot; style=&quot;word-spacing:-0.0298em;&quot;&gt;Groups net revenue and DKK 7 million to the Groups adj. EBIT. If the acquisition &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:17.6029em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_167&quot; style=&quot;word-spacing:-0.0322em;&quot;&gt;had taken place 1 January 2024 the Groups net revenue would have amounted to &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:18.3945em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_394&quot; style=&quot;word-spacing:-0.0265em;&quot;&gt;DKK 10,149 million and the Group's adj. EBIT would have amounted to DKK 557 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:19.1861em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_384&quot;&gt;million. &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;          &#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:20.7278em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_618 stl_08 stl_82&quot; style=&quot;word-spacing:-0.0272em;&quot;&gt;Transaction cost &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:21.5194em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_172&quot; style=&quot;word-spacing:-0.0327em;&quot;&gt;Transaction costs relating to the SSH acquisition amount to DKK 6 million. Trans- &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:22.311em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_383&quot; style=&quot;word-spacing:-0.0368em;&quot;&gt;actions costs are accounted for in the income statement as special items. &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;          &#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:23.8528em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_618 stl_08 stl_105&quot; style=&quot;word-spacing:-0.0341em;&quot;&gt;Fair value of acquired net assets and recognised goodwill &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:24.6443em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_523&quot; style=&quot;word-spacing:-0.0345em;&quot;&gt;Provisional fair values of acquired assets and liabilities at the acquisition date are &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:25.4359em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_347&quot; style=&quot;word-spacing:-0.0388em;&quot;&gt;given in the table on the next page. The fair value of acquired trade receivables and &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:26.2275em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_383&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;other receivables amounts to DKK 177 million. The collectability of receivables has &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:27.0191em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_355&quot; style=&quot;word-spacing:-0.0374em;&quot;&gt;been assessed based on Group credit assessment policies. In total DKK 7 million &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:27.8107em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_122&quot; style=&quot;word-spacing:-0.0391em;&quot;&gt;has been provided for as doubtful trade receivables. &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:29.3938em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_383&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;Goodwill is primarily related to synergy effects from integration with NTGs exist- &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:30.1854em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_204&quot; style=&quot;word-spacing:-0.0432em;&quot;&gt;ing infrastructure and network. &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:31.7686em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_168&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;The integration of SSH is still ongoing, and consequently net assets, including &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:32.5602em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_385&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;goodwill and other intangible assets, may be adjusted, and off-balance sheet items &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:33.3518em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_169&quot; style=&quot;word-spacing:-0.0338em;&quot;&gt;may be recognised for up to 12 months after the acquisition date. &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;          &#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:10.2844em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_128&quot;&gt;Schmalz+Schn &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:21.9597em;top:10.2844em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_368&quot; style=&quot;word-spacing:-0.0241em;&quot;&gt;Fair values &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:22.2181em;top:11.0346em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_468&quot; style=&quot;word-spacing:0.0138em;&quot;&gt;at date of &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:11.7841em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:21.8366em;top:11.7847em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_25&quot;&gt;acquisition &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:13.4945em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_403&quot; style=&quot;word-spacing:0.0071em;&quot;&gt;Property, plant and equipment &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:24.0323em;top:13.4945em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;56 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:14.4955em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_279&quot; style=&quot;word-spacing:0.0053em;&quot;&gt;Right-of-use assets &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:23.6939em;top:14.4955em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;291 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:15.4965em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_135&quot; style=&quot;word-spacing:-0.0141em;&quot;&gt;Other receivables &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:24.0323em;top:15.4965em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;39 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:16.4975em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_263&quot; style=&quot;word-spacing:-0.0041em;&quot;&gt;Assets held for sale &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:24.0323em;top:16.4975em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;71 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:17.4985em;z-index:160;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_289&quot;&gt;T&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_278&quot;&gt;r&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_09&quot; style=&quot;word-spacing:0.0066em;&quot;&gt;ade receivables &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:23.6939em;top:17.4985em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;138 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:18.4995em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_400&quot; style=&quot;word-spacing:0.0041em;&quot;&gt;Corporation tax &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:24.0323em;top:18.4995em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;14 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:19.5005em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_265&quot; style=&quot;word-spacing:0.0021em;&quot;&gt;Cash and cash equivalents &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:24.0323em;top:19.5005em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;16 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:20.5015em;z-index:219;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_396&quot; style=&quot;word-spacing:0.0017em;&quot;&gt;tal assets &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:23.6939em;top:20.5015em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;625 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:22.5035em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_644&quot; style=&quot;word-spacing:0.0108em;&quot;&gt;Deferred tax &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:24.0323em;top:22.5035em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;24 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:23.5045em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_18&quot;&gt;Pensions &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:24.0323em;top:23.5045em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;12 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:24.5055em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_137&quot;&gt;Provisions &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:24.0323em;top:24.5055em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;29 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:25.5065em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_294&quot; style=&quot;word-spacing:0.0053em;&quot;&gt;Lease liabilities &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:23.6939em;top:25.5065em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;291 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:26.5075em;z-index:287;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_289&quot;&gt;T&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_278&quot;&gt;r&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_210&quot; style=&quot;word-spacing:0.0047em;&quot;&gt;ade payables &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:24.0323em;top:26.5075em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;73 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:27.5085em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_544&quot; style=&quot;word-spacing:-0.0158em;&quot;&gt;Other payables &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:24.0323em;top:27.5085em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;58 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:28.5095em;z-index:317;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_128&quot; style=&quot;word-spacing:0.0003em;&quot;&gt;tal liabilities &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:23.6939em;top:28.5095em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;487 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:30.5115em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_497&quot; style=&quot;word-spacing:0.0038em;&quot;&gt;Non-controlling interests' share of acquired net assets &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:24.3706em;top:30.5115em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;3&lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:31.5125em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_23&quot; style=&quot;word-spacing:0.0056em;&quot;&gt;Acquired net assets &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:23.6939em;top:31.5125em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;135 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:33.5145em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_61&quot; style=&quot;word-spacing:-0.0097em;&quot;&gt;Fair value of consideration &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:23.6939em;top:33.5145em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;435 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:34.5155em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_158&quot; style=&quot;word-spacing:0.0014em;&quot;&gt;Goodwill arising from the acquisition &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:23.6939em;top:34.5155em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;300 &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;          &#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:10.2354em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_211 stl_08 stl_557&quot; style=&quot;word-spacing:-0.0256em;&quot;&gt;RTC Transport A/S &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:11.027em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_339&quot; style=&quot;word-spacing:-0.0291em;&quot;&gt;On 14 February 2024, NTG completed the acquisition of 75% of the shares in RTC &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:11.8186em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_169&quot; style=&quot;word-spacing:-0.0336em;&quot;&gt;Transport A/S (RTC). RTC was founded in 2006 in Brndby, Denmark, and special- &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:12.6101em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_241&quot; style=&quot;word-spacing:-0.037em;&quot;&gt;ises in home deliveries of furniture and domestic appliances as well as value added &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:13.4017em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_347&quot; style=&quot;word-spacing:-0.0388em;&quot;&gt;services including carry-ins, installations, and return handling. RTC has a strong &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:14.1933em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_346&quot; style=&quot;word-spacing:-0.0385em;&quot;&gt;presence in the Danish market, from where it also serves customers with home &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:14.9849em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_373&quot; style=&quot;word-spacing:-0.0396em;&quot;&gt;deliveries in the southern part of Sweden. &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;          &#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:16.5266em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_618 stl_08 stl_167&quot; style=&quot;word-spacing:-0.0321em;&quot;&gt;Consideration transferred &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:17.3182em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_523&quot; style=&quot;word-spacing:-0.0345em;&quot;&gt;The total consideration consists of a cash payment of DKK 26 million in addition &lt;/span&gt;&#xA;            &lt;/div&gt;&#xA;            &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:18.1098em;&quot;&gt;&#xA;              &lt;span class=&quot;stl_213 stl_08 stl_385&quot; style=&quot;word-spacing:-0.035em;&quot;&gt;to a contingent consideration. 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</message><ref href="NTG-2024-12-31-en.xhtml#fact8456" sourceLine="62053"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="62053" /><property name="label" value="ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DisclosureOfSharebasedPaymentArrangementsExplanatory" /><property name="QName" value="ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:13.7132em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_531 stl_08 stl_105&quot; style=&quot;word-spacing:0.3232em;&quot;&gt;8.1 Remuneration&lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_531 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0169em;&quot;&gt;&lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_531 stl_08 stl_105&quot; style=&quot;word-spacing:-0.034em;&quot;&gt;of the Executive Board and the Board of Directors &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:14.5047em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0377em;&quot;&gt;The composition of the remuneration to the members of the Board of Directors &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:15.2963em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0343em;&quot;&gt;and the Executive Management is aimed at contributing to retaining and motivat- &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:16.0879em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.0378em;&quot;&gt;ing management members and to ensure the maximisation of shareholder value &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:16.8795em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0374em;&quot;&gt;by promoting and supporting achievement of strategic objectives for the Group &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:17.6711em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_76&quot; style=&quot;word-spacing:-0.0336em;&quot;&gt;following general trends in the society. The remuneration paid in 2024 follows &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:18.4627em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_329&quot; style=&quot;word-spacing:-0.0321em;&quot;&gt;the framework defined by the Remuneration Policy, available at investor.ntg.com, &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:19.2542em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;approved at the Annual General Meeting 21 March 2024. Base salary paid to Key &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:20.0458em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_116&quot; style=&quot;word-spacing:-0.0326em;&quot;&gt;Management personnel in 2024 totals DKK 5.3 million (2023: DKK 5.0 million). &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:21.629em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;The Board of Directors only receives short-term benefits. Executive Manage- &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:22.4206em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0358em;&quot;&gt;ment also receive other remuneration components. Total base salary to the &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:23.2122em;z-index:905;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0375em;&quot;&gt;Board of Directors and Executive Management was DKK &lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_684&quot;&gt;7&lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_514&quot;&gt;.&lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_380&quot; style=&quot;word-spacing:-0.0249em;&quot;&gt;8 million in 2024 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:24.0037em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_112&quot; style=&quot;word-spacing:-0.0304em;&quot;&gt;(2023: DKK 7.3 million). Total remuneration to the Board of Directors and Execu- &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:24.7953em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_108&quot; style=&quot;word-spacing:-0.0315em;&quot;&gt;tive Management was DKK 12.5 million in 2024 (2023: DKK 12.0 million). &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:26.3785em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;For the financial year 2024, the Group has published a Remuneration Report, &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:27.1701em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_77&quot; style=&quot;word-spacing:-0.0322em;&quot;&gt;investor.ntg.com, in accordance with the requirements of section 139b of the &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:27.9617em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_246&quot; style=&quot;word-spacing:-0.0403em;&quot;&gt;Danish Companies Act implementing the Shareholders Rights Directive. &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:29.5034em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_618 stl_08 stl_129&quot; style=&quot;word-spacing:-0.0316em;&quot;&gt;Remuneration to the Executive Management &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:30.295em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_121&quot; style=&quot;word-spacing:-0.0326em;&quot;&gt;Total remuneration to the Groups Executive Management is given in the table to &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:31.0866em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_120&quot; style=&quot;word-spacing:-0.0388em;&quot;&gt;the right. Employment agreements with members of the Executive Management &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:31.8782em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0383em;&quot;&gt;are without time limitation and can generally not exceed 12 months on the part &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:32.6697em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0379em;&quot;&gt;of the Company and 6 months on the part of the individual member of Executive &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:33.4613em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0351em;&quot;&gt;Management. For further information on remuneration composition etc., refer- &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:34.2529em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0363em;&quot;&gt;ence is made to the Groups Remuneration Report. &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                  &#xA;                &#xA;              &#xA;            &#xA;              &#xA;                &#xA;                  &#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:14.5198em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:42.8985em;top:14.5198em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:46.6779em;top:14.5198em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:16.2296em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_396&quot; style=&quot;word-spacing:0.0019em;&quot;&gt;Base salary &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4369em;top:16.2296em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;5.3 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2163em;top:16.2296em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;5.0 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0855em;top:17.2306em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_400&quot; style=&quot;word-spacing:0.0041em;&quot;&gt;Pensions and benefits &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4363em;top:17.2306em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.5 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2157em;top:17.2306em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.7 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0849em;top:18.2316em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_400&quot; style=&quot;word-spacing:0.0037em;&quot;&gt;Short-term cash incentive &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4357em;top:18.2316em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1.2 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2151em;top:18.2316em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1.2 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0843em;top:19.2326em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_275&quot; style=&quot;word-spacing:0.0063em;&quot;&gt;Share based payments &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4351em;top:19.2326em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.7 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2146em;top:19.2326em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.5 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0837em;top:20.2336em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_389&quot; style=&quot;word-spacing:0.0077em;&quot;&gt;Executive Management Board total &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4328em;top:20.2336em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;9.7 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2122em;top:20.2336em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;9.4 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                  &#xA;                &#xA;              &#xA;            &#xA;                  &#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0831em;top:22.2344em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_618 stl_08 stl_116&quot; style=&quot;word-spacing:-0.0326em;&quot;&gt;Remuneration to the the Board of Directors &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0831em;top:22.9344em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_81&quot; style=&quot;word-spacing:-0.0328em;&quot;&gt;Total remuneration to the Groups Board of Directors is given below. For further &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0831em;top:23.6344em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_105&quot; style=&quot;word-spacing:-0.0338em;&quot;&gt;information on remuneration composition, reference is made to the Groups &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0831em;top:24.426em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_443&quot; style=&quot;word-spacing:-0.0421em;&quot;&gt;Remuneration Report. &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:26.0768em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:42.9247em;top:26.0768em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:46.7041em;top:26.0768em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:27.7865em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_403&quot; style=&quot;word-spacing:0.0072em;&quot;&gt;Fixed annual fee &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4631em;top:27.7865em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.5 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2425em;top:27.7865em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.3 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0855em;top:28.7875em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_09&quot; style=&quot;word-spacing:0.0066em;&quot;&gt;Additional fixed fee &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4625em;top:28.7875em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.3 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.242em;top:28.7875em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.3 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0849em;top:29.7885em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_18&quot; style=&quot;word-spacing:-0.0022em;&quot;&gt;Board of Directors &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4602em;top:29.7885em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2.8 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2396em;top:29.7885em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2.6 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                  &#xA;                &#xA;            &#xA;              &#xA;                &#xA;                  &#xA;                    &#xA;                      &#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3914em;top:9.3964em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_531 stl_08 stl_358&quot; style=&quot;word-spacing:0.2781em;&quot;&gt;8.2 Share-based&lt;/span&gt;&#xA;                          &lt;span class=&quot;stl_531 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0215em;&quot;&gt;&lt;/span&gt;&#xA;                          &lt;span class=&quot;stl_531 stl_08 stl_116&quot; style=&quot;word-spacing:-0.0324em;&quot;&gt;payment programs &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:51.5746em;top:10.3409em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_630 stl_08 stl_329&quot; style=&quot;word-spacing:-0.0316em;&quot;&gt;Accounting policies &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:11.2159em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_165&quot; style=&quot;word-spacing:-0.0358em;&quot;&gt;Employee services received in exchange for share-based payments granted corre- &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:12.0075em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_183&quot; style=&quot;word-spacing:-0.0381em;&quot;&gt;spond to fair value on the grant date. Share-based payments are either equity or &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:12.7991em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_133&quot; style=&quot;word-spacing:-0.0396em;&quot;&gt;cash settled and recognised in the income statement as staff costs over the vesting &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:13.5907em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_194&quot;&gt;period. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:15.1738em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_184&quot; style=&quot;word-spacing:-0.0376em;&quot;&gt;The fair value is determined using the Black &amp;amp; Scholes valuation model measured &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:15.9654em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_173&quot; style=&quot;word-spacing:-0.0355em;&quot;&gt;on the grant date. Valuation assumptions consider terms and conditions applicable &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:16.757em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_109&quot; style=&quot;word-spacing:-0.0399em;&quot;&gt;to the share options and warrants, and Managements expectations on the input &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:17.5486em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_247&quot; style=&quot;word-spacing:-0.0354em;&quot;&gt;variables. Estimated volatility is based on a peer review, adjusted for NTG specific &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:18.3402em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_318&quot; style=&quot;word-spacing:-0.0374em;&quot;&gt;factors. A total of 164 employees held share options or warrants on 31 December &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:19.1318em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_377&quot; style=&quot;word-spacing:-0.0246em;&quot;&gt;2024 (2023: 120 employees). &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:20.7149em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_170&quot; style=&quot;word-spacing:-0.0302em;&quot;&gt;37,000 share options were open for exercise on 31 December 2024. NTG Nordic &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:21.5065em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_247&quot; style=&quot;word-spacing:-0.0357em;&quot;&gt;Transport Group A/S has the right to settle share-based payment programs in &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:22.2981em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_241&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;either cash or shares when exercised. During 2024, 308,150 warrants and share &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:23.0897em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_370&quot; style=&quot;word-spacing:-0.0285em;&quot;&gt;options were exercised at an average share price of 279. Non-vested share options &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:23.8813em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_373&quot; style=&quot;word-spacing:-0.0397em;&quot;&gt;will, in certain circumstances, lapse in connection with a participants termination &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:24.6728em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_241&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;of employment. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:26.256em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_205&quot; style=&quot;word-spacing:-0.039em;&quot;&gt;Agreements with employees regarding share-based remuneration also include &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:27.0476em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_384&quot; style=&quot;word-spacing:-0.0342em;&quot;&gt;provisions that entitle the employee to premature exercise of the instrument in a &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:27.8392em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_430&quot; style=&quot;word-spacing:-0.0316em;&quot;&gt;change of control scenario. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:29.4223em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_155&quot; style=&quot;word-spacing:-0.0324em;&quot;&gt;Valuation of the share-based payments granted in 2024 and 2023 is based on &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:30.2139em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_201&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;assumptions disclosed in the following table: &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                      &#xA;                    &#xA;                  &#xA;                &#xA;              &#xA;            &#xA;          &#xA;            &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:31.7971em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_211 stl_08 stl_66&quot;&gt;Assumptions &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.2055em;top:32.2689em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:69.985em;top:32.2689em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:33.9787em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_419&quot; style=&quot;word-spacing:0.0094em;&quot;&gt;Share price &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.5433em;top:33.9787em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;259 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.3227em;top:33.9787em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;356 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3925em;top:34.9797em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_685&quot;&gt;Volatility &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:65.9378em;top:34.9797em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;35.0% &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:69.7172em;top:34.9797em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;35.0% &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3926em;top:35.9807em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_47&quot; style=&quot;word-spacing:0.0103em;&quot;&gt;Risk-free interest rate &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.2761em;top:35.9807em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.4% &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.0556em;top:35.9807em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.5% &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3926em;top:36.9817em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_128&quot; style=&quot;word-spacing:0.0003em;&quot;&gt;Expected dividends &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.2761em;top:36.9817em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.0% &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.0556em;top:36.9817em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.0% &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3926em;top:37.9827em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_275&quot; style=&quot;word-spacing:0.0064em;&quot;&gt;Expected duration (years) &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.2194em;top:37.9827em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;4&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.9988em;top:37.9827em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;4&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;              &#xA;            &#xA;          &#xA;            &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:10.7161em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_618 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;Expenses arising from share-based payments transactions &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:11.5077em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;Total expenses arising from share-based payment transactions recognised during &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:12.2993em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0354em;&quot;&gt;the year as part of employee benefit expense totaled DKK 13 million (2023: DKK &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:13.0908em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_373&quot; style=&quot;word-spacing:-0.0199em;&quot;&gt;10 million). &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:14.6326em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_618 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0347em;&quot;&gt;Share options programs &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:15.4242em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_119&quot; style=&quot;word-spacing:-0.0345em;&quot;&gt;Granted share options generally have a three-year vesting period followed by a &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:16.2158em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;two-year exercise period. Options are granted to key employees in the organisa- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:17.0073em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0354em;&quot;&gt;tion with the goal of motivation and retention, including alignment of interests &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:17.7989em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;with NTG Nordic Transport Group A/S shareholders. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:19.3407em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_618 stl_08 stl_347&quot; style=&quot;word-spacing:-0.0189em;&quot;&gt;2024 LTIP to Executive Management &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:20.1323em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_179&quot; style=&quot;word-spacing:-0.0313em;&quot;&gt;Share options awarded under the 2024 LTIP will be granted in 2025. Pursuant to &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:20.9238em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0373em;&quot;&gt;Section 5.8.5 of the Remuneration Policy, the exercise price relevant for estab- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:21.7154em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0351em;&quot;&gt;lishing the actual number of share options granted for 2024 shall be determined &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:22.507em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0344em;&quot;&gt;as the average share price of the shares of the Company for the 10-day trading &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:23.2986em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_90&quot; style=&quot;word-spacing:-0.0349em;&quot;&gt;period following the publication of the Companys annual report for 2024. Using &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:24.0902em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0342em;&quot;&gt;an estimated exercise price of 243, based on the reference share price (being &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:24.8817em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_329&quot; style=&quot;word-spacing:-0.032em;&quot;&gt;the average closing price in the last 10 days up to and including 3 March 2025), &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:25.6733em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0343em;&quot;&gt;indicates that an estimated 31,493 options will be granted to Executive Manage- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:26.4649em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_72&quot; style=&quot;word-spacing:-0.0287em;&quot;&gt;ment under the 2024 LTIP. The expected grant date is 20 March 2025 resulting &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:27.2565em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.036em;&quot;&gt;in a 2-year exercise period starting on 20 March 2028. Options expected to be &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:28.0481em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_74&quot; style=&quot;word-spacing:-0.0317em;&quot;&gt;granted under the 2024 LTIP will be recognised from the grant date in 2025 and &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:28.8397em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;are not included in the table above. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:30.4228em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_360&quot; style=&quot;word-spacing:-0.0257em;&quot;&gt;29,797 share options with an exercise price of DKK 259 were granted in 2024 to &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:31.2144em;z-index:1350;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_129&quot; style=&quot;word-spacing:-0.0317em;&quot;&gt;Executive Management under the 2023 LTI&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_687&quot;&gt;P&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_687&quot;&gt;. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;              &#xA;            &#xA;          &#xA;            &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:10.7143em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_211 stl_08 stl_272&quot; style=&quot;word-spacing:-0.0435em;&quot;&gt;Outstanding programs &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:45.8416em;top:11.1859em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_686&quot;&gt;Average &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:38.9472em;top:11.9355em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_497&quot;&gt;Share &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:44.3926em;top:11.9361em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_391&quot; style=&quot;word-spacing:0.009em;&quot;&gt;exercise price &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:34.6854em;top:12.6857em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_249&quot;&gt;Warrants &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:38.4519em;top:12.6857em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_148&quot;&gt;options &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:42.4437em;top:12.6857em;z-index:1417;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_282&quot;&gt;tal &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:45.2758em;top:12.6863em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_265&quot; style=&quot;word-spacing:-0.0185em;&quot;&gt;per option &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0863em;top:14.396em;&quot;&gt;&#xA; 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</message><ref href="NTG-2024-12-31-en.xhtml#fact8457" sourceLine="62054"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="62054" /><property name="label" value="ifrs-full:DisclosureOfDefinedBenefitPlansExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DisclosureOfDefinedBenefitPlansExplanatory" /><property name="QName" value="ifrs-full:DisclosureOfDefinedBenefitPlansExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:13.7132em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_531 stl_08 stl_105&quot; style=&quot;word-spacing:0.3232em;&quot;&gt;8.1 Remuneration&lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_531 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0169em;&quot;&gt;&lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_531 stl_08 stl_105&quot; style=&quot;word-spacing:-0.034em;&quot;&gt;of the Executive Board and the Board of Directors &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:14.5047em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0377em;&quot;&gt;The composition of the remuneration to the members of the Board of Directors &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:15.2963em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0343em;&quot;&gt;and the Executive Management is aimed at contributing to retaining and motivat- &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:16.0879em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.0378em;&quot;&gt;ing management members and to ensure the maximisation of shareholder value &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:16.8795em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0374em;&quot;&gt;by promoting and supporting achievement of strategic objectives for the Group &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:17.6711em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_76&quot; style=&quot;word-spacing:-0.0336em;&quot;&gt;following general trends in the society. The remuneration paid in 2024 follows &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:18.4627em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_329&quot; style=&quot;word-spacing:-0.0321em;&quot;&gt;the framework defined by the Remuneration Policy, available at investor.ntg.com, &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:19.2542em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;approved at the Annual General Meeting 21 March 2024. Base salary paid to Key &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:20.0458em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_116&quot; style=&quot;word-spacing:-0.0326em;&quot;&gt;Management personnel in 2024 totals DKK 5.3 million (2023: DKK 5.0 million). &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:21.629em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;The Board of Directors only receives short-term benefits. Executive Manage- &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:22.4206em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0358em;&quot;&gt;ment also receive other remuneration components. Total base salary to the &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:23.2122em;z-index:905;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0375em;&quot;&gt;Board of Directors and Executive Management was DKK &lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_684&quot;&gt;7&lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_514&quot;&gt;.&lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_380&quot; style=&quot;word-spacing:-0.0249em;&quot;&gt;8 million in 2024 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:24.0037em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_112&quot; style=&quot;word-spacing:-0.0304em;&quot;&gt;(2023: DKK 7.3 million). Total remuneration to the Board of Directors and Execu- &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:24.7953em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_108&quot; style=&quot;word-spacing:-0.0315em;&quot;&gt;tive Management was DKK 12.5 million in 2024 (2023: DKK 12.0 million). &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:26.3785em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;For the financial year 2024, the Group has published a Remuneration Report, &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:27.1701em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_77&quot; style=&quot;word-spacing:-0.0322em;&quot;&gt;investor.ntg.com, in accordance with the requirements of section 139b of the &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:27.9617em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_246&quot; style=&quot;word-spacing:-0.0403em;&quot;&gt;Danish Companies Act implementing the Shareholders Rights Directive. &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:29.5034em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_618 stl_08 stl_129&quot; style=&quot;word-spacing:-0.0316em;&quot;&gt;Remuneration to the Executive Management &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:30.295em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_121&quot; style=&quot;word-spacing:-0.0326em;&quot;&gt;Total remuneration to the Groups Executive Management is given in the table to &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:31.0866em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_120&quot; style=&quot;word-spacing:-0.0388em;&quot;&gt;the right. Employment agreements with members of the Executive Management &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:31.8782em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0383em;&quot;&gt;are without time limitation and can generally not exceed 12 months on the part &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:32.6697em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0379em;&quot;&gt;of the Company and 6 months on the part of the individual member of Executive &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:33.4613em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0351em;&quot;&gt;Management. For further information on remuneration composition etc., refer- &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:34.2529em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0363em;&quot;&gt;ence is made to the Groups Remuneration Report. &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                  &#xA;                &#xA;              &#xA;                &#xA;                  &#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:14.5198em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:42.8985em;top:14.5198em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:46.6779em;top:14.5198em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:16.2296em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_396&quot; style=&quot;word-spacing:0.0019em;&quot;&gt;Base salary &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4369em;top:16.2296em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;5.3 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2163em;top:16.2296em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;5.0 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0855em;top:17.2306em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_400&quot; style=&quot;word-spacing:0.0041em;&quot;&gt;Pensions and benefits &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4363em;top:17.2306em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.5 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2157em;top:17.2306em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.7 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0849em;top:18.2316em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_400&quot; style=&quot;word-spacing:0.0037em;&quot;&gt;Short-term cash incentive &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4357em;top:18.2316em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1.2 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2151em;top:18.2316em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1.2 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0843em;top:19.2326em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_275&quot; style=&quot;word-spacing:0.0063em;&quot;&gt;Share based payments &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4351em;top:19.2326em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.7 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2146em;top:19.2326em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.5 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0837em;top:20.2336em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_389&quot; style=&quot;word-spacing:0.0077em;&quot;&gt;Executive Management Board total &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4328em;top:20.2336em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;9.7 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2122em;top:20.2336em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;9.4 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                  &#xA;                &#xA;              &#xA;              &#xA;                &#xA;                  &#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0831em;top:22.2344em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_618 stl_08 stl_116&quot; style=&quot;word-spacing:-0.0326em;&quot;&gt;Remuneration to the the Board of Directors &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0831em;top:22.9344em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_81&quot; style=&quot;word-spacing:-0.0328em;&quot;&gt;Total remuneration to the Groups Board of Directors is given below. For further &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0831em;top:23.6344em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_105&quot; style=&quot;word-spacing:-0.0338em;&quot;&gt;information on remuneration composition, reference is made to the Groups &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0831em;top:24.426em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_443&quot; style=&quot;word-spacing:-0.0421em;&quot;&gt;Remuneration Report. &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:26.0768em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:42.9247em;top:26.0768em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:46.7041em;top:26.0768em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:27.7865em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_403&quot; style=&quot;word-spacing:0.0072em;&quot;&gt;Fixed annual fee &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4631em;top:27.7865em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.5 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2425em;top:27.7865em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.3 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0855em;top:28.7875em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_09&quot; style=&quot;word-spacing:0.0066em;&quot;&gt;Additional fixed fee &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4625em;top:28.7875em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.3 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.242em;top:28.7875em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.3 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0849em;top:29.7885em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_18&quot; style=&quot;word-spacing:-0.0022em;&quot;&gt;Board of Directors &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4602em;top:29.7885em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2.8 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2396em;top:29.7885em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2.6 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                  &#xA;                &#xA;              &#xA;            &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:9.4016em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_531 stl_08 stl_489&quot; style=&quot;word-spacing:0.2969em;&quot;&gt;8.3 Pension&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_531 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0196em;&quot;&gt;&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_531 stl_08 stl_76&quot;&gt;obligations &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:4.9604em;top:10.3461em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_630 stl_08 stl_329&quot; style=&quot;word-spacing:-0.0316em;&quot;&gt;Accounting policies &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:11.2211em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_168&quot; style=&quot;word-spacing:-0.036em;&quot;&gt;The pension obligations of most Group entities are covered by independent pen- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:12.0127em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_163&quot; style=&quot;word-spacing:-0.0364em;&quot;&gt;sion funds or insurance contracts (defined contribution plans) to which Group com- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:12.8043em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_168&quot; style=&quot;word-spacing:-0.036em;&quot;&gt;panies pay regular contributions. For a few Group companies, pension obligations &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:13.5959em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_166&quot; style=&quot;word-spacing:-0.0336em;&quot;&gt;are not covered or only partly covered by insurance (defined benefit plans). &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:15.179em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_383&quot; style=&quot;word-spacing:-0.037em;&quot;&gt;For defined-benefit plans, the net present value is only calculated for those &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:15.9706em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_168&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;benefits by employees up until the balance sheet date. The present value of future &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:16.7622em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_201&quot; style=&quot;word-spacing:-0.0367em;&quot;&gt;pension payments is estimated actuarially and shown net of the fair value of any &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:17.5538em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_183&quot; style=&quot;word-spacing:-0.038em;&quot;&gt;plan assets in the balance sheet as pension obligations. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:19.1369em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_347&quot; style=&quot;word-spacing:-0.0387em;&quot;&gt;Differences between estimated pension assets and liabilities and their realised val- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:19.9285em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_346&quot; style=&quot;word-spacing:-0.0384em;&quot;&gt;ues are termed actuarial gains and losses. Actuarial gains and losses are recognised &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:20.7201em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_163&quot; style=&quot;word-spacing:-0.0362em;&quot;&gt;in the statement of other comprehensive income. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:22.3033em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_133&quot; style=&quot;word-spacing:-0.0394em;&quot;&gt;Changes in benefits earned to date are actuarially calculated and expensed imme- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:23.0949em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_383&quot; style=&quot;word-spacing:-0.037em;&quot;&gt;diately when the employees have already earned the right to the changed benefits. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:23.8864em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_183&quot; style=&quot;word-spacing:-0.0381em;&quot;&gt;Otherwise, they are recognised in the income statement over the period during &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:24.678em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_347&quot; style=&quot;word-spacing:-0.0389em;&quot;&gt;which the employees earn the right to the benefits. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;              &#xA;            &#xA;            &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:26.2612em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_211 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0381em;&quot;&gt;Net value of pension plans &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:27.2049em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:19.5914em;top:27.2049em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:23.3708em;top:27.2049em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7789em;top:28.9146em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_24&quot; style=&quot;word-spacing:-0.0061em;&quot;&gt;Present value of pension liabilities &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:19.9291em;top:28.9146em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;172 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:23.7085em;top:28.9146em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;161 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7784em;top:29.9156em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_37&quot; style=&quot;word-spacing:-0.0039em;&quot;&gt;Fair value of plan assets &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:20.0504em;top:29.9156em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_282&quot;&gt;-81 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:23.8299em;top:29.9156em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_277 stl_08 stl_282&quot;&gt;-82 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7784em;top:30.9166em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_279&quot; style=&quot;word-spacing:-0.0009em;&quot;&gt;Net value of pension plans at 31 December &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:20.2669em;top:30.9166em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;91 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:24.0463em;top:30.9166em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;79 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;            &#xA;          &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:4.9604em;top:33.3896em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_630 stl_08 stl_106&quot; style=&quot;word-spacing:-0.0341em;&quot;&gt;Accounting estimates and judgments &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:34.3061em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;Generally, pension plans within the Group are defined contribution plans, where &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:35.0976em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0363em;&quot;&gt;contributions are recognised in the income statement on an accrual basis. These &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:35.8892em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_85&quot; style=&quot;word-spacing:-0.0371em;&quot;&gt;types of pension plans do not require material estimates. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:37.4724em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.0381em;&quot;&gt;For defined benefit plans, annual actuarial calculations are made of the net &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:38.264em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_120&quot; style=&quot;word-spacing:-0.0389em;&quot;&gt;present value of future benefits to be paid under the plan. The net present value &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7791em;top:39.0556em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_114&quot; style=&quot;word-spacing:-0.036em;&quot;&gt;is calculated based on assumptions of the future developments of salary, interest, &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:10.4285em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_234&quot; style=&quot;word-spacing:-0.0401em;&quot;&gt;inflation, and mortality rates. Assumptions are assessed at the reporting date and &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:11.2201em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0367em;&quot;&gt;changes in these assumptions may significantly affect the liabilities and pension &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:12.0116em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_246&quot; style=&quot;word-spacing:-0.0401em;&quot;&gt;cost under defined benefit plans. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;              &#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:13.5948em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.0382em;&quot;&gt;Below is shown the most important assumptions made when determining the net &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:14.3864em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0374em;&quot;&gt;present value of the defined benefit plans and a sensitivity analysis relating to &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:15.178em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0371em;&quot;&gt;these assumptions. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0862em;top:16.7611em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_211 stl_08 stl_357&quot; style=&quot;word-spacing:-0.0409em;&quot;&gt;Most important assumptions for actuarial calculations &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:45.5459em;top:18.2324em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_175&quot;&gt;Weighted &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:36.758em;top:18.9825em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_295&quot;&gt;Germany &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:40.762em;top:18.9825em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_210&quot;&gt;Switzerland &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.0557em;top:18.9825em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_44&quot;&gt;average &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:20.6923em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:21.6933em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_230&quot; style=&quot;word-spacing:0.0075em;&quot;&gt;Discount rate &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:37.514em;top:21.6933em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;3.41% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.2384em;top:21.6933em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.80% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.4903em;top:21.6933em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1.89% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:22.6943em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_22&quot; style=&quot;word-spacing:-0.003em;&quot;&gt;Future salary increase &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:37.514em;top:22.6943em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.00% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.2384em;top:22.6943em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.00% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.4903em;top:22.6943em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1.99% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:23.6953em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_400&quot; style=&quot;word-spacing:-0.0078em;&quot;&gt;Mortality prognosis table&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot; style=&quot;word-spacing:0.574em;&quot;&gt;&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_230&quot; style=&quot;word-spacing:-0.0018em;&quot;&gt;RT Heubeck 2018 G &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:40.2766em;top:23.6953em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_37&quot; style=&quot;word-spacing:0.0118em;&quot;&gt;BVG 2020 GT &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:45.5459em;top:26.2527em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_175&quot;&gt;Weighted &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:36.758em;top:27.0028em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_295&quot;&gt;Germany &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:40.762em;top:27.0028em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_210&quot;&gt;Switzerland &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.0557em;top:27.0028em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_44&quot;&gt;average &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:28.7126em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:29.7136em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_230&quot; style=&quot;word-spacing:0.0075em;&quot;&gt;Discount rate &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:37.514em;top:29.7136em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;3.47% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.2384em;top:29.7136em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1.50% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.4903em;top:29.7136em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.36% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:30.7146em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_22&quot; style=&quot;word-spacing:-0.003em;&quot;&gt;Future salary increase &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:37.514em;top:30.7146em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.00% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:42.2384em;top:30.7146em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.00% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:46.4903em;top:30.7146em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.00% &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:31.7156em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_400&quot; style=&quot;word-spacing:-0.0078em;&quot;&gt;Mortality prognosis table&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_29&quot; style=&quot;word-spacing:0.574em;&quot;&gt;&lt;/span&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_230&quot; style=&quot;word-spacing:-0.0018em;&quot;&gt;RT Heubeck 2018 G &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:40.2766em;top:31.7156em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_277 stl_08 stl_37&quot; style=&quot;word-spacing:0.0118em;&quot;&gt;BVG 2020 GT &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:34.0664em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0361em;&quot;&gt;Under defined benefit plans, the employer is obliged to pay a defined benefit (for &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:34.858em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_327&quot; style=&quot;word-spacing:-0.0354em;&quot;&gt;example a fixed percentage of an employees final salary) to the employee after &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:35.6496em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_297&quot; style=&quot;word-spacing:-0.0396em;&quot;&gt;retirement. The Group thereby carries a risk with respect of future developments &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;                &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0869em;top:36.4412em;&quot;&gt;&#xA;                  &lt;span class=&quot;stl_213 stl_08 stl_117&quot; style=&quot;word-spacing:-0.038em;&quot;&gt;in interest rates, inflation, mortality and disability. &lt;/span&gt;&#xA;                &lt;/div&gt;&#xA;              &#xA;            &#xA;            &#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.394em;top:10.4799em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_211 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0355em;&quot;&gt;Pensions liabilities &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3937em;top:11.6587em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:66.2055em;top:11.6587em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:69.985em;top:11.6587em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;              &lt;/div&gt;&#xA;              &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:13.3684em;&quot;&gt;&#xA;                &lt;span class=&quot;stl_274 stl_08 stl_497&quot; style=&quot;word-spacing:-0.0059em;&quot;&gt;Present value at 1 January &lt;/span&gt;..." /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8462" sourceLine="62141"><property name="QName" value="ix:continuation" /><property name="id" value="fact8462" /><property name="continuedAt" value="fact8466" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8466" sourceLine="62204"><property name="QName" value="ix:continuation" /><property name="id" value="fact8466" /><property name="continuedAt" value="fact8494" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8494" sourceLine="62817"><property name="QName" value="ix:continuation" /><property name="id" value="fact8494" /><property name="continuedAt" value="fact8497" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8497" sourceLine="63161"><property name="QName" value="ix:continuation" /><property name="id" value="fact8497" /><property name="continuedAt" value="fact8500" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8500" sourceLine="63230"><property name="QName" value="ix:continuation" /><property name="id" value="fact8500" /><property name="continuedAt" value="fact8503" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8503" sourceLine="62878"><property name="QName" value="ix:continuation" /><property name="id" value="fact8503" /><property name="continuedAt" value="fact8506" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8506" sourceLine="63038"><property name="QName" value="ix:continuation" /><property name="id" value="fact8506" /><property name="continuedAt" value="fact8508" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8508" sourceLine="62892"><property name="QName" value="ix:continuation" /><property name="id" value="fact8508" /><property name="continuedAt" value="fact8510" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8510" sourceLine="63204"><property name="QName" value="ix:continuation" /><property name="id" value="fact8510" /><property name="continuedAt" value="fact8512" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8512" sourceLine="63391"><property name="QName" value="ix:continuation" /><property name="id" value="fact8512" /><property name="continuedAt" value="fact8514" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8514" sourceLine="63547"><property name="QName" value="ix:continuation" /><property name="id" value="fact8514" /><property name="continuedAt" value="fact8517" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8517" sourceLine="63408"><property name="QName" value="ix:continuation" /><property name="id" value="fact8517" /></ref></entry><entry code="ESEF.2.2.6.textContentOrdering" level="warning"><message qname="ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory">2025-03-05 17:25:11,574 [ESEF.2.2.6.textContentOrdering] The text content of tagged fact should have same order as human-readable report, ix:continuation elements out of order:  ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory - NTG-2024-12-31-en.xhtml 61960, 62055, 62142, 62203, 62263, 62374, 62456, 62652
</message><ref href="NTG-2024-12-31-en.xhtml#fact8458" sourceLine="62055"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="62055" /><property name="label" value="ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DisclosureOfInformationAboutKeyManagementPersonnelExplanatory" /><property name="QName" value="ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:13.7132em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_531 stl_08 stl_105&quot; style=&quot;word-spacing:0.3232em;&quot;&gt;8.1 Remuneration&lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_531 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0169em;&quot;&gt;&lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_531 stl_08 stl_105&quot; style=&quot;word-spacing:-0.034em;&quot;&gt;of the Executive Board and the Board of Directors &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:14.5047em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0377em;&quot;&gt;The composition of the remuneration to the members of the Board of Directors &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:15.2963em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0343em;&quot;&gt;and the Executive Management is aimed at contributing to retaining and motivat- &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:16.0879em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.0378em;&quot;&gt;ing management members and to ensure the maximisation of shareholder value &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:16.8795em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0374em;&quot;&gt;by promoting and supporting achievement of strategic objectives for the Group &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:17.6711em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_76&quot; style=&quot;word-spacing:-0.0336em;&quot;&gt;following general trends in the society. The remuneration paid in 2024 follows &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:18.4627em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_329&quot; style=&quot;word-spacing:-0.0321em;&quot;&gt;the framework defined by the Remuneration Policy, available at investor.ntg.com, &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:19.2542em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;approved at the Annual General Meeting 21 March 2024. Base salary paid to Key &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:20.0458em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_116&quot; style=&quot;word-spacing:-0.0326em;&quot;&gt;Management personnel in 2024 totals DKK 5.3 million (2023: DKK 5.0 million). &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:21.629em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;The Board of Directors only receives short-term benefits. Executive Manage- &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:22.4206em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0358em;&quot;&gt;ment also receive other remuneration components. Total base salary to the &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:23.2122em;z-index:905;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0375em;&quot;&gt;Board of Directors and Executive Management was DKK &lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_684&quot;&gt;7&lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_514&quot;&gt;.&lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_380&quot; style=&quot;word-spacing:-0.0249em;&quot;&gt;8 million in 2024 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:24.0037em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_112&quot; style=&quot;word-spacing:-0.0304em;&quot;&gt;(2023: DKK 7.3 million). Total remuneration to the Board of Directors and Execu- &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:24.7953em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_108&quot; style=&quot;word-spacing:-0.0315em;&quot;&gt;tive Management was DKK 12.5 million in 2024 (2023: DKK 12.0 million). &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:26.3785em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;For the financial year 2024, the Group has published a Remuneration Report, &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:27.1701em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_77&quot; style=&quot;word-spacing:-0.0322em;&quot;&gt;investor.ntg.com, in accordance with the requirements of section 139b of the &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:27.9617em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_246&quot; style=&quot;word-spacing:-0.0403em;&quot;&gt;Danish Companies Act implementing the Shareholders Rights Directive. &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:29.5034em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_618 stl_08 stl_129&quot; style=&quot;word-spacing:-0.0316em;&quot;&gt;Remuneration to the Executive Management &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:30.295em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_121&quot; style=&quot;word-spacing:-0.0326em;&quot;&gt;Total remuneration to the Groups Executive Management is given in the table to &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:31.0866em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_120&quot; style=&quot;word-spacing:-0.0388em;&quot;&gt;the right. Employment agreements with members of the Executive Management &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:31.8782em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0383em;&quot;&gt;are without time limitation and can generally not exceed 12 months on the part &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:32.6697em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0379em;&quot;&gt;of the Company and 6 months on the part of the individual member of Executive &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:33.4613em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0351em;&quot;&gt;Management. For further information on remuneration composition etc., refer- &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:34.2529em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0363em;&quot;&gt;ence is made to the Groups Remuneration Report. &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                  &#xA;                &#xA;                  &#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:14.5198em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:42.8985em;top:14.5198em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:46.6779em;top:14.5198em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:16.2296em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_396&quot; style=&quot;word-spacing:0.0019em;&quot;&gt;Base salary &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4369em;top:16.2296em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;5.3 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2163em;top:16.2296em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;5.0 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0855em;top:17.2306em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_400&quot; style=&quot;word-spacing:0.0041em;&quot;&gt;Pensions and benefits &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4363em;top:17.2306em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.5 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2157em;top:17.2306em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.7 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0849em;top:18.2316em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_400&quot; style=&quot;word-spacing:0.0037em;&quot;&gt;Short-term cash incentive &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4357em;top:18.2316em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1.2 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2151em;top:18.2316em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1.2 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0843em;top:19.2326em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_275&quot; style=&quot;word-spacing:0.0063em;&quot;&gt;Share based payments &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4351em;top:19.2326em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.7 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2146em;top:19.2326em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.5 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0837em;top:20.2336em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_389&quot; style=&quot;word-spacing:0.0077em;&quot;&gt;Executive Management Board total &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4328em;top:20.2336em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;9.7 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2122em;top:20.2336em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;9.4 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                  &#xA;                &#xA;            &#xA;              &#xA;                &#xA;                  &#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0831em;top:22.2344em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_618 stl_08 stl_116&quot; style=&quot;word-spacing:-0.0326em;&quot;&gt;Remuneration to the the Board of Directors &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0831em;top:22.9344em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_81&quot; style=&quot;word-spacing:-0.0328em;&quot;&gt;Total remuneration to the Groups Board of Directors is given below. For further &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0831em;top:23.6344em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_105&quot; style=&quot;word-spacing:-0.0338em;&quot;&gt;information on remuneration composition, reference is made to the Groups &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0831em;top:24.426em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_443&quot; style=&quot;word-spacing:-0.0421em;&quot;&gt;Remuneration Report. &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:26.0768em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:42.9247em;top:26.0768em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:46.7041em;top:26.0768em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:27.7865em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_403&quot; style=&quot;word-spacing:0.0072em;&quot;&gt;Fixed annual fee &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4631em;top:27.7865em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.5 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2425em;top:27.7865em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.3 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0855em;top:28.7875em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_09&quot; style=&quot;word-spacing:0.0066em;&quot;&gt;Additional fixed fee &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4625em;top:28.7875em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.3 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.242em;top:28.7875em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.3 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0849em;top:29.7885em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_18&quot; style=&quot;word-spacing:-0.0022em;&quot;&gt;Board of Directors &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4602em;top:29.7885em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2.8 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2396em;top:29.7885em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2.6 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                  &#xA;                &#xA;              &#xA;            &#xA;          &#xA;                    &#xA;                      &#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3914em;top:9.3964em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_531 stl_08 stl_358&quot; style=&quot;word-spacing:0.2781em;&quot;&gt;8.2 Share-based&lt;/span&gt;&#xA;                          &lt;span class=&quot;stl_531 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0215em;&quot;&gt;&lt;/span&gt;&#xA;                          &lt;span class=&quot;stl_531 stl_08 stl_116&quot; style=&quot;word-spacing:-0.0324em;&quot;&gt;payment programs &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:51.5746em;top:10.3409em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_630 stl_08 stl_329&quot; style=&quot;word-spacing:-0.0316em;&quot;&gt;Accounting policies &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:11.2159em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_165&quot; style=&quot;word-spacing:-0.0358em;&quot;&gt;Employee services received in exchange for share-based payments granted corre- &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:12.0075em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_183&quot; style=&quot;word-spacing:-0.0381em;&quot;&gt;spond to fair value on the grant date. Share-based payments are either equity or &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:12.7991em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_133&quot; style=&quot;word-spacing:-0.0396em;&quot;&gt;cash settled and recognised in the income statement as staff costs over the vesting &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:13.5907em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_194&quot;&gt;period. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:15.1738em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_184&quot; style=&quot;word-spacing:-0.0376em;&quot;&gt;The fair value is determined using the Black &amp;amp; Scholes valuation model measured &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:15.9654em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_173&quot; style=&quot;word-spacing:-0.0355em;&quot;&gt;on the grant date. Valuation assumptions consider terms and conditions applicable &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:16.757em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_109&quot; style=&quot;word-spacing:-0.0399em;&quot;&gt;to the share options and warrants, and Managements expectations on the input &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:17.5486em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_247&quot; style=&quot;word-spacing:-0.0354em;&quot;&gt;variables. Estimated volatility is based on a peer review, adjusted for NTG specific &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:18.3402em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_318&quot; style=&quot;word-spacing:-0.0374em;&quot;&gt;factors. A total of 164 employees held share options or warrants on 31 December &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:19.1318em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_377&quot; style=&quot;word-spacing:-0.0246em;&quot;&gt;2024 (2023: 120 employees). &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:20.7149em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_170&quot; style=&quot;word-spacing:-0.0302em;&quot;&gt;37,000 share options were open for exercise on 31 December 2024. NTG Nordic &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:21.5065em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_247&quot; style=&quot;word-spacing:-0.0357em;&quot;&gt;Transport Group A/S has the right to settle share-based payment programs in &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:22.2981em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_241&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;either cash or shares when exercised. During 2024, 308,150 warrants and share &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:23.0897em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_370&quot; style=&quot;word-spacing:-0.0285em;&quot;&gt;options were exercised at an average share price of 279. Non-vested share options &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:23.8813em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_373&quot; style=&quot;word-spacing:-0.0397em;&quot;&gt;will, in certain circumstances, lapse in connection with a participants termination &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:24.6728em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_241&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;of employment. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:26.256em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_205&quot; style=&quot;word-spacing:-0.039em;&quot;&gt;Agreements with employees regarding share-based remuneration also include &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:27.0476em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_384&quot; style=&quot;word-spacing:-0.0342em;&quot;&gt;provisions that entitle the employee to premature exercise of the instrument in a &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:27.8392em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_430&quot; style=&quot;word-spacing:-0.0316em;&quot;&gt;change of control scenario. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:29.4223em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_155&quot; style=&quot;word-spacing:-0.0324em;&quot;&gt;Valuation of the share-based payments granted in 2024 and 2023 is based on &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:30.2139em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_201&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;assumptions disclosed in the following table: &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                      &#xA;                    &#xA;                  &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:31.7971em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_211 stl_08 stl_66&quot;&gt;Assumptions &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.2055em;top:32.2689em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:69.985em;top:32.2689em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:33.9787em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_419&quot; style=&quot;word-spacing:0.0094em;&quot;&gt;Share price &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.5433em;top:33.9787em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;259 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.3227em;top:33.9787em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;356 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3925em;top:34.9797em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_685&quot;&gt;Volatility &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:65.9378em;top:34.9797em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;35.0% &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:69.7172em;top:34.9797em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;35.0% &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3926em;top:35.9807em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_47&quot; style=&quot;word-spacing:0.0103em;&quot;&gt;Risk-free interest rate &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.2761em;top:35.9807em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.4% &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.0556em;top:35.9807em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.5% &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3926em;top:36.9817em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_128&quot; style=&quot;word-spacing:0.0003em;&quot;&gt;Expected dividends &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.2761em;top:36.9817em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.0% &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.0556em;top:36.9817em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.0% &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3926em;top:37.9827em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_275&quot; style=&quot;word-spacing:0.0064em;&quot;&gt;Expected duration (years) &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.2194em;top:37.9827em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;4&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.9988em;top:37.9827em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;4&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:10.7161em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_618 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;Expenses arising from share-based payments transactions &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:11.5077em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;Total expenses arising from share-based payment transactions recognised during &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:12.2993em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0354em;&quot;&gt;the year as part of employee benefit expense totaled DKK 13 million (2023: DKK &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:13.0908em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_373&quot; style=&quot;word-spacing:-0.0199em;&quot;&gt;10 million). &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:14.6326em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_618 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0347em;&quot;&gt;Share options programs &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:15.4242em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_119&quot; style=&quot;word-spacing:-0.0345em;&quot;&gt;Granted share options generally have a three-year vesting period followed by a &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:16.2158em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;two-year exercise period. Options are granted to key employees in the organisa- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:17.0073em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0354em;&quot;&gt;tion with the goal of motivation and retention, including alignment of interests &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:17.7989em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;with NTG Nordic Transport Group A/S shareholders. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:19.3407em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_618 stl_08 stl_347&quot; style=&quot;word-spacing:-0.0189em;&quot;&gt;2024 LTIP to Executive Management &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:20.1323em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_179&quot; style=&quot;word-spacing:-0.0313em;&quot;&gt;Share options awarded under the 2024 LTIP will be granted in 2025. Pursuant to &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:20.9238em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0373em;&quot;&gt;Section 5.8.5 of the Remuneration Policy, the exercise price relevant for estab- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:21.7154em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0351em;&quot;&gt;lishing the actual number of share options granted for 2024 shall be determined &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:22.507em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0344em;&quot;&gt;as the average share price of the shares of the Company for the 10-day trading &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:23.2986em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_90&quot; style=&quot;word-spacing:-0.0349em;&quot;&gt;period following the publication of the Companys annual report for 2024. Using &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:24.0902em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0342em;&quot;&gt;an estimated exercise price of 243, based on the reference share price (being &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:24.8817em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_329&quot; style=&quot;word-spacing:-0.032em;&quot;&gt;the average closing price in the last 10 days up to and including 3 March 2025), &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:25.6733em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0343em;&quot;&gt;indicates that an estimated 31,493 options will be granted to Executive Manage- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:26.4649em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_72&quot; style=&quot;word-spacing:-0.0287em;&quot;&gt;ment under the 2024 LTIP. The expected grant date is 20 March 2025 resulting &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:27.2565em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.036em;&quot;&gt;in a 2-year exercise period starting on 20 March 2028. Options expected to be &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:28.0481em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_74&quot; style=&quot;word-spacing:-0.0317em;&quot;&gt;granted under the 2024 LTIP will be recognised from the grant date in 2025 and &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:28.8397em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;are not included in the table above. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:30.4228em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_360&quot; style=&quot;word-spacing:-0.0257em;&quot;&gt;29,797 share options with an exercise price of DKK 259 were granted in 2024 to &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:31.2144em;z-index:1350;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_129&quot; style=&quot;word-spacing:-0.0317em;&quot;&gt;Executive Management under the 2023 LTI&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_687&quot;&gt;P&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_687&quot;&gt;. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:10.7143em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_211 stl_08 stl_272&quot; style=&quot;word-spacing:-0.0435em;&quot;&gt;Outstanding programs &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:45.8416em;top:11.1859em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_686&quot;&gt;Average &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:38.9472em;top:11.9355em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_497&quot;&gt;Share &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:44.3926em;top:11.9361em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_391&quot; style=&quot;word-spacing:0.009em;&quot;&gt;exercise price &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:34.6854em;top:12.6857em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_249&quot;&gt;Warrants &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:38.4519em;top:12.6857em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_148&quot;&gt;options &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:42.4437em;top:12.6857em;z-index:1417;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_282&quot;&gt;tal &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:45.2758em;top:12.6863em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_265&quot; style=&quot;word-spacing:-0.0185em;&quot;&gt;per option &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0863em;top:14.396em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_149&quot; style=&quot;word-spacing:0.0018em;&quot;&gt;Outstanding at &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0863em;top:15.1462em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_400&quot; style=..." /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8463" sourceLine="62142"><property name="QName" value="ix:continuation" /><property name="id" value="fact8463" /><property name="continuedAt" value="fact8465" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8465" sourceLine="62203"><property name="QName" value="ix:continuation" /><property name="id" value="fact8465" /><property name="continuedAt" value="fact8474" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8474" sourceLine="61960"><property name="QName" value="ix:continuation" /><property name="id" value="fact8474" /><property name="continuedAt" value="fact8479" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8479" sourceLine="62263"><property name="QName" value="ix:continuation" /><property name="id" value="fact8479" /><property name="continuedAt" value="fact8483" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8483" sourceLine="62374"><property name="QName" value="ix:continuation" /><property name="id" value="fact8483" /><property name="continuedAt" value="fact8487" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8487" sourceLine="62456"><property name="QName" value="ix:continuation" /><property name="id" value="fact8487" /><property name="continuedAt" value="fact8491" /></ref><ref href="NTG-2024-12-31-en.xhtml#fact8491" sourceLine="62652"><property name="QName" value="ix:continuation" /><property name="id" value="fact8491" /></ref></entry><entry code="ESEF.2.2.6.textContentOrdering" level="warning"><message qname="ifrs-full:DisclosureOfRelatedPartyExplanatory">2025-03-05 17:25:11,574 [ESEF.2.2.6.textContentOrdering] The text content of tagged fact should have same order as human-readable report, ix:continuation elements out of order:  ifrs-full:DisclosureOfRelatedPartyExplanatory - NTG-2024-12-31-en.xhtml 61959, 62056, 62143, 62207, 62262, 62373, 62455, 62651, 63723
</message><ref href="NTG-2024-12-31-en.xhtml#fact8459" sourceLine="62056"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="62056" /><property name="label" value="ifrs-full:DisclosureOfRelatedPartyExplanatory" /><property name="namespace" value="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full" /><property name="name" value="DisclosureOfRelatedPartyExplanatory" /><property name="QName" value="ifrs-full:DisclosureOfRelatedPartyExplanatory" /><property name="contextRef" value="ctx1"><property name="entity" value="529900PZWXV8JX89K947"><property name="scheme" value="http://standards.iso.org/iso/17442" /></property><property name="startDate" value="2024-01-01" /><property name="endDate" value="2024-12-31" /></property><property name="decimals" value="None" /><property name="precision" value="None" /><property name="xsi:nil" value="false" /><property name="value" value="&lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:13.7132em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_531 stl_08 stl_105&quot; style=&quot;word-spacing:0.3232em;&quot;&gt;8.1 Remuneration&lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_531 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0169em;&quot;&gt;&lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_531 stl_08 stl_105&quot; style=&quot;word-spacing:-0.034em;&quot;&gt;of the Executive Board and the Board of Directors &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:14.5047em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0377em;&quot;&gt;The composition of the remuneration to the members of the Board of Directors &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:15.2963em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0343em;&quot;&gt;and the Executive Management is aimed at contributing to retaining and motivat- &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:16.0879em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_257&quot; style=&quot;word-spacing:-0.0378em;&quot;&gt;ing management members and to ensure the maximisation of shareholder value &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:16.8795em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0374em;&quot;&gt;by promoting and supporting achievement of strategic objectives for the Group &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:17.6711em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_76&quot; style=&quot;word-spacing:-0.0336em;&quot;&gt;following general trends in the society. The remuneration paid in 2024 follows &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:18.4627em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_329&quot; style=&quot;word-spacing:-0.0321em;&quot;&gt;the framework defined by the Remuneration Policy, available at investor.ntg.com, &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:19.2542em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;approved at the Annual General Meeting 21 March 2024. Base salary paid to Key &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:20.0458em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_116&quot; style=&quot;word-spacing:-0.0326em;&quot;&gt;Management personnel in 2024 totals DKK 5.3 million (2023: DKK 5.0 million). &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:21.629em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;The Board of Directors only receives short-term benefits. Executive Manage- &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:22.4206em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0358em;&quot;&gt;ment also receive other remuneration components. Total base salary to the &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:23.2122em;z-index:905;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_86&quot; style=&quot;word-spacing:-0.0375em;&quot;&gt;Board of Directors and Executive Management was DKK &lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_684&quot;&gt;7&lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_514&quot;&gt;.&lt;/span&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_380&quot; style=&quot;word-spacing:-0.0249em;&quot;&gt;8 million in 2024 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:24.0037em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_112&quot; style=&quot;word-spacing:-0.0304em;&quot;&gt;(2023: DKK 7.3 million). Total remuneration to the Board of Directors and Execu- &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:24.7953em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_108&quot; style=&quot;word-spacing:-0.0315em;&quot;&gt;tive Management was DKK 12.5 million in 2024 (2023: DKK 12.0 million). &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:26.3785em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_406&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;For the financial year 2024, the Group has published a Remuneration Report, &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:27.1701em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_77&quot; style=&quot;word-spacing:-0.0322em;&quot;&gt;investor.ntg.com, in accordance with the requirements of section 139b of the &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:27.9617em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_246&quot; style=&quot;word-spacing:-0.0403em;&quot;&gt;Danish Companies Act implementing the Shareholders Rights Directive. &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:29.5034em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_618 stl_08 stl_129&quot; style=&quot;word-spacing:-0.0316em;&quot;&gt;Remuneration to the Executive Management &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:30.295em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_121&quot; style=&quot;word-spacing:-0.0326em;&quot;&gt;Total remuneration to the Groups Executive Management is given in the table to &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:31.0866em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_120&quot; style=&quot;word-spacing:-0.0388em;&quot;&gt;the right. Employment agreements with members of the Executive Management &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:31.8782em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_298&quot; style=&quot;word-spacing:-0.0383em;&quot;&gt;are without time limitation and can generally not exceed 12 months on the part &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:32.6697em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_319&quot; style=&quot;word-spacing:-0.0379em;&quot;&gt;of the Company and 6 months on the part of the individual member of Executive &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:33.4613em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0351em;&quot;&gt;Management. For further information on remuneration composition etc., refer- &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:34.2529em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_321&quot; style=&quot;word-spacing:-0.0363em;&quot;&gt;ence is made to the Groups Remuneration Report. &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                  &#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:14.5198em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:42.8985em;top:14.5198em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:46.6779em;top:14.5198em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:16.2296em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_396&quot; style=&quot;word-spacing:0.0019em;&quot;&gt;Base salary &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4369em;top:16.2296em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;5.3 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2163em;top:16.2296em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;5.0 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0855em;top:17.2306em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_400&quot; style=&quot;word-spacing:0.0041em;&quot;&gt;Pensions and benefits &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4363em;top:17.2306em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.5 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2157em;top:17.2306em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.7 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0849em;top:18.2316em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_400&quot; style=&quot;word-spacing:0.0037em;&quot;&gt;Short-term cash incentive &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4357em;top:18.2316em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1.2 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2151em;top:18.2316em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;1.2 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0843em;top:19.2326em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_275&quot; style=&quot;word-spacing:0.0063em;&quot;&gt;Share based payments &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4351em;top:19.2326em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.7 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2146em;top:19.2326em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.5 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0837em;top:20.2336em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_389&quot; style=&quot;word-spacing:0.0077em;&quot;&gt;Executive Management Board total &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4328em;top:20.2336em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;9.7 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2122em;top:20.2336em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;9.4 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                  &#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0831em;top:22.2344em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_618 stl_08 stl_116&quot; style=&quot;word-spacing:-0.0326em;&quot;&gt;Remuneration to the the Board of Directors &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0831em;top:22.9344em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_81&quot; style=&quot;word-spacing:-0.0328em;&quot;&gt;Total remuneration to the Groups Board of Directors is given below. For further &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0831em;top:23.6344em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_105&quot; style=&quot;word-spacing:-0.0338em;&quot;&gt;information on remuneration composition, reference is made to the Groups &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0831em;top:24.426em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_213 stl_08 stl_443&quot; style=&quot;word-spacing:-0.0421em;&quot;&gt;Remuneration Report. &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:26.0768em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_275&quot;&gt;(DKKm) &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:42.9247em;top:26.0768em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:46.7041em;top:26.0768em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.086em;top:27.7865em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_403&quot; style=&quot;word-spacing:0.0072em;&quot;&gt;Fixed annual fee &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4631em;top:27.7865em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.5 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2425em;top:27.7865em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.3 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0855em;top:28.7875em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_09&quot; style=&quot;word-spacing:0.0066em;&quot;&gt;Additional fixed fee &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4625em;top:28.7875em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.3 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.242em;top:28.7875em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.3 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0849em;top:29.7885em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_18&quot; style=&quot;word-spacing:-0.0022em;&quot;&gt;Board of Directors &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:43.4602em;top:29.7885em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2.8 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                    &lt;div class=&quot;stl_01&quot; style=&quot;left:47.2396em;top:29.7885em;&quot;&gt;&#xA;                      &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2.6 &lt;/span&gt;&#xA;                    &lt;/div&gt;&#xA;                  &#xA;                  &#xA;                    &#xA;                      &#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3914em;top:9.3964em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_531 stl_08 stl_358&quot; style=&quot;word-spacing:0.2781em;&quot;&gt;8.2 Share-based&lt;/span&gt;&#xA;                          &lt;span class=&quot;stl_531 stl_08 stl_29&quot; style=&quot;word-spacing:-0.0215em;&quot;&gt;&lt;/span&gt;&#xA;                          &lt;span class=&quot;stl_531 stl_08 stl_116&quot; style=&quot;word-spacing:-0.0324em;&quot;&gt;payment programs &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:51.5746em;top:10.3409em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_630 stl_08 stl_329&quot; style=&quot;word-spacing:-0.0316em;&quot;&gt;Accounting policies &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:11.2159em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_165&quot; style=&quot;word-spacing:-0.0358em;&quot;&gt;Employee services received in exchange for share-based payments granted corre- &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:12.0075em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_183&quot; style=&quot;word-spacing:-0.0381em;&quot;&gt;spond to fair value on the grant date. Share-based payments are either equity or &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:12.7991em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_133&quot; style=&quot;word-spacing:-0.0396em;&quot;&gt;cash settled and recognised in the income statement as staff costs over the vesting &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:13.5907em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_194&quot;&gt;period. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:15.1738em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_184&quot; style=&quot;word-spacing:-0.0376em;&quot;&gt;The fair value is determined using the Black &amp;amp; Scholes valuation model measured &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:15.9654em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_173&quot; style=&quot;word-spacing:-0.0355em;&quot;&gt;on the grant date. Valuation assumptions consider terms and conditions applicable &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:16.757em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_109&quot; style=&quot;word-spacing:-0.0399em;&quot;&gt;to the share options and warrants, and Managements expectations on the input &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:17.5486em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_247&quot; style=&quot;word-spacing:-0.0354em;&quot;&gt;variables. Estimated volatility is based on a peer review, adjusted for NTG specific &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:18.3402em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_318&quot; style=&quot;word-spacing:-0.0374em;&quot;&gt;factors. A total of 164 employees held share options or warrants on 31 December &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:19.1318em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_377&quot; style=&quot;word-spacing:-0.0246em;&quot;&gt;2024 (2023: 120 employees). &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:20.7149em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_170&quot; style=&quot;word-spacing:-0.0302em;&quot;&gt;37,000 share options were open for exercise on 31 December 2024. NTG Nordic &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:21.5065em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_247&quot; style=&quot;word-spacing:-0.0357em;&quot;&gt;Transport Group A/S has the right to settle share-based payment programs in &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:22.2981em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_241&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;either cash or shares when exercised. During 2024, 308,150 warrants and share &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:23.0897em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_370&quot; style=&quot;word-spacing:-0.0285em;&quot;&gt;options were exercised at an average share price of 279. Non-vested share options &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:23.8813em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_373&quot; style=&quot;word-spacing:-0.0397em;&quot;&gt;will, in certain circumstances, lapse in connection with a participants termination &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:24.6728em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_241&quot; style=&quot;word-spacing:-0.0365em;&quot;&gt;of employment. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:26.256em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_205&quot; style=&quot;word-spacing:-0.039em;&quot;&gt;Agreements with employees regarding share-based remuneration also include &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:27.0476em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_384&quot; style=&quot;word-spacing:-0.0342em;&quot;&gt;provisions that entitle the employee to premature exercise of the instrument in a &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:27.8392em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_430&quot; style=&quot;word-spacing:-0.0316em;&quot;&gt;change of control scenario. &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:29.4223em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_155&quot; style=&quot;word-spacing:-0.0324em;&quot;&gt;Valuation of the share-based payments granted in 2024 and 2023 is based on &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                        &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:30.2139em;&quot;&gt;&#xA;                          &lt;span class=&quot;stl_213 stl_08 stl_201&quot; style=&quot;word-spacing:-0.0366em;&quot;&gt;assumptions disclosed in the following table: &lt;/span&gt;&#xA;                        &lt;/div&gt;&#xA;                      &#xA;                    &#xA;                  &#xA;                &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3933em;top:31.7971em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_211 stl_08 stl_66&quot;&gt;Assumptions &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.2055em;top:32.2689em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2024 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:69.985em;top:32.2689em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_29&quot;&gt;2023 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3931em;top:33.9787em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_419&quot; style=&quot;word-spacing:0.0094em;&quot;&gt;Share price &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.5433em;top:33.9787em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;259 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.3227em;top:33.9787em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;356 &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3925em;top:34.9797em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_685&quot;&gt;Volatility &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:65.9378em;top:34.9797em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;35.0% &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:69.7172em;top:34.9797em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;35.0% &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3926em;top:35.9807em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_47&quot; style=&quot;word-spacing:0.0103em;&quot;&gt;Risk-free interest rate &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.2761em;top:35.9807em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.4% &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.0556em;top:35.9807em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;2.5% &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3926em;top:36.9817em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_128&quot; style=&quot;word-spacing:0.0003em;&quot;&gt;Expected dividends &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:66.2761em;top:36.9817em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.0% &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.0556em;top:36.9817em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;0.0% &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:50.3926em;top:37.9827em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_275&quot; style=&quot;word-spacing:0.0064em;&quot;&gt;Expected duration (years) &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:67.2194em;top:37.9827em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;4&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:70.9988em;top:37.9827em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_277 stl_08 stl_29&quot;&gt;4&lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;              &#xA;            &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:10.7161em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_618 stl_08 stl_322&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;Expenses arising from share-based payments transactions &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:11.5077em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;Total expenses arising from share-based payment transactions recognised during &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:12.2993em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0354em;&quot;&gt;the year as part of employee benefit expense totaled DKK 13 million (2023: DKK &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:13.0908em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_373&quot; style=&quot;word-spacing:-0.0199em;&quot;&gt;10 million). &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:14.6326em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_618 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0347em;&quot;&gt;Share options programs &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:15.4242em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_119&quot; style=&quot;word-spacing:-0.0345em;&quot;&gt;Granted share options generally have a three-year vesting period followed by a &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:16.2158em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0352em;&quot;&gt;two-year exercise period. Options are granted to key employees in the organisa- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:17.0073em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_225&quot; style=&quot;word-spacing:-0.0354em;&quot;&gt;tion with the goal of motivation and retention, including alignment of interests &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:17.7989em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_331&quot; style=&quot;word-spacing:-0.0359em;&quot;&gt;with NTG Nordic Transport Group A/S shareholders. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:19.3407em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_618 stl_08 stl_347&quot; style=&quot;word-spacing:-0.0189em;&quot;&gt;2024 LTIP to Executive Management &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:20.1323em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_179&quot; style=&quot;word-spacing:-0.0313em;&quot;&gt;Share options awarded under the 2024 LTIP will be granted in 2025. Pursuant to &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:20.9238em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_68&quot; style=&quot;word-spacing:-0.0373em;&quot;&gt;Section 5.8.5 of the Remuneration Policy, the exercise price relevant for estab- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:21.7154em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_266&quot; style=&quot;word-spacing:-0.0351em;&quot;&gt;lishing the actual number of share options granted for 2024 shall be determined &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:22.507em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0344em;&quot;&gt;as the average share price of the shares of the Company for the 10-day trading &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:23.2986em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_90&quot; style=&quot;word-spacing:-0.0349em;&quot;&gt;period following the publication of the Companys annual report for 2024. Using &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:24.0902em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0342em;&quot;&gt;an estimated exercise price of 243, based on the reference share price (being &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:24.8817em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_329&quot; style=&quot;word-spacing:-0.032em;&quot;&gt;the average closing price in the last 10 days up to and including 3 March 2025), &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:25.6733em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_323&quot; style=&quot;word-spacing:-0.0343em;&quot;&gt;indicates that an estimated 31,493 options will be granted to Executive Manage- &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:26.4649em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_72&quot; style=&quot;word-spacing:-0.0287em;&quot;&gt;ment under the 2024 LTIP. The expected grant date is 20 March 2025 resulting &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:27.2565em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_239&quot; style=&quot;word-spacing:-0.036em;&quot;&gt;in a 2-year exercise period starting on 20 March 2028. Options expected to be &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:28.0481em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_74&quot; style=&quot;word-spacing:-0.0317em;&quot;&gt;granted under the 2024 LTIP will be recognised from the grant date in 2025 and &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:28.8397em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_84&quot; style=&quot;word-spacing:-0.0369em;&quot;&gt;are not included in the table above. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:30.4228em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_360&quot; style=&quot;word-spacing:-0.0257em;&quot;&gt;29,797 share options with an exercise price of DKK 259 were granted in 2024 to &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:3.7795em;top:31.2144em;z-index:1350;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_129&quot; style=&quot;word-spacing:-0.0317em;&quot;&gt;Executive Management under the 2023 LTI&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_687&quot;&gt;P&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_213 stl_08 stl_687&quot;&gt;. &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                &#xA;              &#xA;            &#xA;              &#xA;                &#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0866em;top:10.7143em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_211 stl_08 stl_272&quot; style=&quot;word-spacing:-0.0435em;&quot;&gt;Outstanding programs &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:45.8416em;top:11.1859em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_686&quot;&gt;Average &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:38.9472em;top:11.9355em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_497&quot;&gt;Share &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:44.3926em;top:11.9361em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_391&quot; style=&quot;word-spacing:0.009em;&quot;&gt;exercise price &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:34.6854em;top:12.6857em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_249&quot;&gt;Warrants &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:38.4519em;top:12.6857em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_148&quot;&gt;options &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:42.4437em;top:12.6857em;z-index:1417;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_401&quot;&gt;T&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_402&quot;&gt;o&lt;/span&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_282&quot;&gt;tal &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:45.2758em;top:12.6863em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_265&quot; style=&quot;word-spacing:-0.0185em;&quot;&gt;per option &lt;/span&gt;&#xA;                  &lt;/div&gt;&#xA;                  &lt;div class=&quot;stl_01&quot; style=&quot;left:27.0863em;top:14.396em;&quot;&gt;&#xA;                    &lt;span class=&quot;stl_274 stl_08 stl_149&quot; 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</message><ref href="NTG-2024-12-31-en.xhtml#fact1658" sourceLine="67981"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="67981" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="TitleOfMemberOfExecutiveBoard" /><property name="QName" value="cmn:TitleOfMemberOfExecutiveBoard" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 67993
</message><ref href="NTG-2024-12-31-en.xhtml#fact1662" sourceLine="67993"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="67993" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="TitleOfMemberOfExecutiveBoard" /><property name="QName" value="cmn:TitleOfMemberOfExecutiveBoard" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 68079
</message><ref href="NTG-2024-12-31-en.xhtml#fact1713" sourceLine="68079"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="68079" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="NameAndSurnameOfMemberOfSupervisoryBoard" /><property name="QName" value="cmn:NameAndSurnameOfMemberOfSupervisoryBoard" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 68080
</message><ref href="NTG-2024-12-31-en.xhtml#fact1705" sourceLine="68080"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="68080" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="NameAndSurnameOfMemberOfSupervisoryBoard" /><property name="QName" value="cmn:NameAndSurnameOfMemberOfSupervisoryBoard" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 68081
</message><ref href="NTG-2024-12-31-en.xhtml#fact1697" sourceLine="68081"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="68081" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="NameAndSurnameOfMemberOfSupervisoryBoard" /><property name="QName" value="cmn:NameAndSurnameOfMemberOfSupervisoryBoard" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 68082
</message><ref href="NTG-2024-12-31-en.xhtml#fact1689" sourceLine="68082"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="68082" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="NameAndSurnameOfMemberOfSupervisoryBoard" /><property name="QName" value="cmn:NameAndSurnameOfMemberOfSupervisoryBoard" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 68083
</message><ref href="NTG-2024-12-31-en.xhtml#fact1681" sourceLine="68083"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="68083" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="NameAndSurnameOfMemberOfSupervisoryBoard" /><property name="QName" value="cmn:NameAndSurnameOfMemberOfSupervisoryBoard" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 68084
</message><ref href="NTG-2024-12-31-en.xhtml#fact1672" sourceLine="68084"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="68084" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="NameAndSurnameOfMemberOfSupervisoryBoard" /><property name="QName" value="cmn:NameAndSurnameOfMemberOfSupervisoryBoard" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 68084
</message><ref href="NTG-2024-12-31-en.xhtml#fact1663" sourceLine="68084"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="68084" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="NameAndSurnameOfMemberOfSupervisoryBoard" /><property name="QName" value="cmn:NameAndSurnameOfMemberOfSupervisoryBoard" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 68112
</message><ref href="NTG-2024-12-31-en.xhtml#fact1671" sourceLine="68112"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="68112" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="TitleOfMemberOfSupervisoryBoard" /><property name="QName" value="cmn:TitleOfMemberOfSupervisoryBoard" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 68203
</message><ref href="NTG-2024-12-31-en.xhtml#fact1680" sourceLine="68203"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="68203" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="TitleOfMemberOfSupervisoryBoard" /><property name="QName" value="cmn:TitleOfMemberOfSupervisoryBoard" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 68344
</message><ref href="NTG-2024-12-31-en.xhtml#fact1057" sourceLine="68344"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="68344" /><property name="namespace" value="http://xbrl.dcca.dk/arr" /><property name="name" value="IndependentAuditorsReportsAudit" /><property name="QName" value="arr:IndependentAuditorsReportsAudit" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 68349
</message><ref href="NTG-2024-12-31-en.xhtml#fact1058" sourceLine="68349"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="68349" /><property name="namespace" value="http://xbrl.dcca.dk/arr" /><property name="name" value="AddresseeOfAuditorsReportOnAuditedFinancialStatements" /><property name="QName" value="arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 68364
</message><ref href="NTG-2024-12-31-en.xhtml#fact1060" sourceLine="68364"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="68364" /><property name="namespace" value="http://xbrl.dcca.dk/arr" /><property name="name" value="AuditorsReportOnFinancialStatements" /><property name="QName" value="arr:AuditorsReportOnFinancialStatements" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 68455
</message><ref href="NTG-2024-12-31-en.xhtml#fact1061" sourceLine="68455"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="68455" /><property name="namespace" value="http://xbrl.dcca.dk/arr" /><property name="name" value="OpinionOnAuditedFinancialStatements" /><property name="QName" value="arr:OpinionOnAuditedFinancialStatements" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 68535
</message><ref href="NTG-2024-12-31-en.xhtml#fact1088" sourceLine="68535"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="68535" /><property name="namespace" value="http://xbrl.dcca.dk/arr" /><property name="name" value="DescriptionOfQualificationsOfAuditedFinancialStatements" /><property name="QName" value="arr:DescriptionOfQualificationsOfAuditedFinancialStatements" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 68673
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</message><ref href="NTG-2024-12-31-en.xhtml#fact1192" sourceLine="69089"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="69089" /><property name="namespace" value="http://xbrl.dcca.dk/arr" /><property name="name" value="StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements" /><property name="QName" value="arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 69311
</message><ref href="NTG-2024-12-31-en.xhtml#fact1235" sourceLine="69311"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="69311" /><property name="namespace" value="http://xbrl.dcca.dk/arr" /><property name="name" value="StatementOfAuditorsResponsibilityForAuditAndAuditPerformed" /><property name="QName" value="arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 69507
</message><ref href="NTG-2024-12-31-en.xhtml#fact1216" sourceLine="69507"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="69507" /><property name="namespace" value="http://xbrl.dcca.dk/arr" /><property name="name" value="StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements" /><property name="QName" value="arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 69630
</message><ref href="NTG-2024-12-31-en.xhtml#fact8546" sourceLine="69630"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="69630" /><property name="namespace" value="http://xbrl.dcca.dk/arr" /><property name="name" value="StatementOfAuditorsResponsibilityForAuditAndAuditPerformed" /><property name="QName" value="arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 70015
</message><ref href="NTG-2024-12-31-en.xhtml#fact1384" sourceLine="70015"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="70015" /><property name="namespace" value="http://xbrl.dcca.dk/arr" /><property name="name" value="SignatureOfAuditorsPlace" /><property name="QName" value="arr:SignatureOfAuditorsPlace" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 70017
</message><ref href="NTG-2024-12-31-en.xhtml#fact1385" sourceLine="70017"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="70017" /><property name="namespace" value="http://xbrl.dcca.dk/arr" /><property name="name" value="SignatureOfAuditorsDate" /><property name="QName" value="arr:SignatureOfAuditorsDate" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 70022
</message><ref href="NTG-2024-12-31-en.xhtml#fact1746" sourceLine="70022"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="70022" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="NameOfAuditFirm" /><property name="QName" value="cmn:NameOfAuditFirm" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 70022
</message><ref href="NTG-2024-12-31-en.xhtml#fact1734" sourceLine="70022"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="70022" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="NameOfAuditFirm" /><property name="QName" value="cmn:NameOfAuditFirm" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 70037
</message><ref href="NTG-2024-12-31-en.xhtml#fact1745" sourceLine="70037"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="70037" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="IdentificationNumberCvrOfAuditFirm" /><property name="QName" value="cmn:IdentificationNumberCvrOfAuditFirm" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 70037
</message><ref href="NTG-2024-12-31-en.xhtml#fact1736" sourceLine="70037"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="70037" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="IdentificationNumberCvrOfAuditFirm" /><property name="QName" value="cmn:IdentificationNumberCvrOfAuditFirm" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 70043
</message><ref href="NTG-2024-12-31-en.xhtml#fact1312" sourceLine="70043"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="70043" /><property name="namespace" value="http://xbrl.dcca.dk/arr" /><property name="name" value="AuditorsReportOnXbrlTagging" /><property name="QName" value="arr:AuditorsReportOnXbrlTagging" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 70079
</message><ref href="NTG-2024-12-31-en.xhtml#fact1737" sourceLine="70079"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="70079" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="NameAndSurnameOfAuditor" /><property name="QName" value="cmn:NameAndSurnameOfAuditor" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 70084
</message><ref href="NTG-2024-12-31-en.xhtml#fact1738" sourceLine="70084"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="70084" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="DescriptionOfAuditor" /><property name="QName" value="cmn:DescriptionOfAuditor" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 70094
</message><ref href="NTG-2024-12-31-en.xhtml#fact1740" sourceLine="70094"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="70094" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="IdentificationNumberOfAuditor" /><property name="QName" value="cmn:IdentificationNumberOfAuditor" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 70099
</message><ref href="NTG-2024-12-31-en.xhtml#fact1741" sourceLine="70099"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="70099" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="NameAndSurnameOfAuditor" /><property name="QName" value="cmn:NameAndSurnameOfAuditor" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 70104
</message><ref href="NTG-2024-12-31-en.xhtml#fact1742" sourceLine="70104"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="70104" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="DescriptionOfAuditor" /><property name="QName" value="cmn:DescriptionOfAuditor" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 70114
</message><ref href="NTG-2024-12-31-en.xhtml#fact1744" sourceLine="70114"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="70114" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="IdentificationNumberOfAuditor" /><property name="QName" value="cmn:IdentificationNumberOfAuditor" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,605 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 70176
</message><ref href="NTG-2024-12-31-en.xhtml#fact1386" sourceLine="70176"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="70176" /><property name="namespace" value="http://xbrl.dcca.dk/arr" /><property name="name" value="AuditorsReportOnSubstainabilityReport" /><property name="QName" value="arr:AuditorsReportOnSubstainabilityReport" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,620 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 71294
</message><ref href="NTG-2024-12-31-en.xhtml#fact1628" sourceLine="71294"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="71294" /><property name="namespace" value="http://xbrl.dcca.dk/arr" /><property name="name" value="SignatureOfSubstainabilityAuditorsPlace" /><property name="QName" value="arr:SignatureOfSubstainabilityAuditorsPlace" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,620 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 71296
</message><ref href="NTG-2024-12-31-en.xhtml#fact1629" sourceLine="71296"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="71296" /><property name="namespace" value="http://xbrl.dcca.dk/arr" /><property name="name" value="SignatureOfSubstainabilityAuditorsDate" /><property name="QName" value="arr:SignatureOfSubstainabilityAuditorsDate" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,620 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 71300
</message><ref href="NTG-2024-12-31-en.xhtml#fact1721" sourceLine="71300"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="71300" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="NameOfAuditFirmSubstainability" /><property name="QName" value="cmn:NameOfAuditFirmSubstainability" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,620 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 71311
</message><ref href="NTG-2024-12-31-en.xhtml#fact1723" sourceLine="71311"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="71311" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="IdentificationNumberCvrOfAuditFirmSubstainability" /><property name="QName" value="cmn:IdentificationNumberCvrOfAuditFirmSubstainability" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,620 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 71337
</message><ref href="NTG-2024-12-31-en.xhtml#fact1724" sourceLine="71337"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="71337" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="NameAndSurnameOfSubstainabilityAuditor" /><property name="QName" value="cmn:NameAndSurnameOfSubstainabilityAuditor" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,620 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 71342
</message><ref href="NTG-2024-12-31-en.xhtml#fact1725" sourceLine="71342"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="71342" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="DescriptionOfSubstainabilityAuditor" /><property name="QName" value="cmn:DescriptionOfSubstainabilityAuditor" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,620 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 71352
</message><ref href="NTG-2024-12-31-en.xhtml#fact1727" sourceLine="71352"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="71352" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="fIdentificationNumberOfSubstainabilityAuditor" /><property name="QName" value="cmn:fIdentificationNumberOfSubstainabilityAuditor" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,620 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 71357
</message><ref href="NTG-2024-12-31-en.xhtml#fact1728" sourceLine="71357"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="71357" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="NameAndSurnameOfSubstainabilityAuditor" /><property name="QName" value="cmn:NameAndSurnameOfSubstainabilityAuditor" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,620 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 71378
</message><ref href="NTG-2024-12-31-en.xhtml#fact1729" sourceLine="71378"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="71378" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="DescriptionOfSubstainabilityAuditor" /><property name="QName" value="cmn:DescriptionOfSubstainabilityAuditor" /></ref></entry><entry code="ESEF.2.5.3.targetAttributeUsedForESEFContents" level="warning"><message localName="ix:nonNumeric" target="DKGAAP" severityVerb="SHOULD">2025-03-05 17:25:11,620 [ESEF.2.5.3.targetAttributeUsedForESEFContents] Target attribute SHOULD not be used unless explicitly required by local jurisdictions: element ix:nonNumeric, target attribute DKGAAP. - NTG-2024-12-31-en.xhtml 71388
</message><ref href="NTG-2024-12-31-en.xhtml#fact1731" sourceLine="71388"><property name="file" value="NTG-2024-12-31-en.xhtml" /><property name="line" value="71388" /><property name="namespace" value="http://xbrl.dcca.dk/cmn" /><property name="name" value="fIdentificationNumberOfSubstainabilityAuditor" /><property name="QName" value="cmn:fIdentificationNumberOfSubstainabilityAuditor" /></ref></entry><entry code="ESEF.RTS.Annex.II.Par.2.missingMandatoryMarkups" level="warning"><message qnames="ExplanationOfChangeInNameOfReportingEntityOrOtherMeansOfIdentificationFromEndOfPrecedingReportingPeriod, NameOfParentEntity, Nam...">2025-03-05 17:25:12,996 [ESEF.RTS.Annex.II.Par.2.missingMandatoryMarkups] Mandatory elements to be marked up are missing: ExplanationOfChangeInNameOfReportingEntityOrOtherMeansOfIdentificationFromEndOfPrecedingReportingPeriod, NameOfParentEntity, NameOfUltimateParentOfGroup. - NTG-2024-12-31-en.xhtml 
</message><ref href="NTG-2024-12-31-en.xhtml" /><ref href="NTG-2024-12-31-en.xhtml" /><ref href="NTG-2024-12-31-en.xhtml" /></entry><entry code="info:profileActivity" level="info"><message activity="validating ESMA RTS on ESEF-2022 filing rules" time="2.375">2025-03-05 17:25:13,011 [info:profileActivity] validating ESMA RTS on ESEF-2022 filing rules 2.375 secs
 - NTG-2024-12-31-en.xhtml 
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</message><ref href="" /></entry><entry code="info" level="info"><message>2025-03-05 17:25:28,513 [info] validated in 20.83 secs - NTG-2024-12-31-en/reports/NTG-2024-12-31-en.xhtml 
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