The guidance for 2020 was published on 20 March 2020 with the following comment:
COVID-19 is expected to have a negative effect in the short-term and cause a high degree of uncertainty and unpredictability in the market. The guidance for the year is given under extraordinary circumstances and based on the assumption that economic activity will normalize during the second half of the year. If this does not happen, there can be a significant downward risk to our guidance. Until global economic activity is normalized, NTG will take the necessary steps to safeguard the financial strength of the company. Excluding the effects of COVID-19 the expectations for the year would have been in line with our mid-term targets.