NORDEN (One-pager): Tanker market weighs on outlook as owners market continues
Read the latest NORDEN One-pager following the FY2024 NORDEN results, where the dry cargo and tanker shipping owner and operator realized a net result of USD 163 million, compared to USD 400 million in 2023, and the latest guidance of USD 160-210 million.
NORDEN will again pay a quarterly dividend of DKK 2 per share, which is the same level as the other quarters in 2024. In total, DKK 8 per share has been returned in 2024, and including share buybacks, a total of USD 100 million has been distributed to shareholders based on the 2024 results.
For 2025, NORDEN is guiding for a result of USD 20-100 million, as the ongoing weakening of the tanker market weighs on the comparative earnings outlook in 2025.
Learn more by watching NORDEN’s presentation of the FY2024 annual results presented by CFO Martin Badsted. Link: https://www.inderes.dk/videos/norden-presentation-of-the-annual-report-for-2024
Disclaimer: HC Andersen Capital receives payment from NORDEN for a DigitalIR/corporate visibility subscription agreement./ Philip Coombes 15:06 11.02.2025
D/S Norden
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NORDEN is an internationally operating shipping company with 12 global offices, headquartered in Copenhagen, Denmark, and listed on Nasdaq OMX Copenhagen. The company is present in the dry cargo and product tanker markets with a combination of operator and asset trading activities. NORDEN’s trading-oriented business model is based on the two business units ‘Assets & Logistics’ and ‘Freight Services & Trading’ – dividing the business into asset trading and operator activities. The company’s business activities are based on an asset-light trading strategy, only owning a small percentage (~5%) of its total operated vessel fleet consisting of close to 500 vessels. The agility of the business model enables NORDEN to continuously adjust short-term market exposure towards dry cargo and product tanker market developments while capitalizing on asset trading opportunities. In-house data and advanced analytics, risk management, and market research provide a data-driven approach to shipping, making proactive use of volatile markets.
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