NORDEN (One-pager): Softer rates weigh on Q3 2024 and remainder of 2024
Read the latest NORDEN One-pager following the Q3 2024 results. The One-pager updates the investment case, key investment risks, key investment reasons, and relative valuation against its peer group. In Q3 2024 NORDEN announced a new share buyback program for USD 12m but reduced the top-end of its net profit guidance, now expecting USD 160-210m for the year 2024, from USD 160-240m previously, following softer rates, particularly in the product tanker market.
Learn more about NORDEN’s unique business, performance YTD, outlook, and positioning for 2025 and more by catching up on the latest Q3 2024 earnings presentation hosted with NORDEN CFO Martin Badsted (in Danish).
Link: https://www.inderes.dk/videos/norden-praesentation-af-regnskabet-for-q3-2024
Disclaimer: HC Andersen Capital receives payment from NORDEN for a DigitalIR/Corporate Visibility agreement / Philip Coombes 12:05 06/11/2024.
D/S Norden
D/S Norden er et internationalt rederi. Virksomheden leverer asset-light globale fragttjenester i stor skala på tørlast- og produkttankmarkedet, charter kortsigtet skibskapacitet på tidscharterkontrakter. Herudover bedrives handel med aktiver, der omfatter køb, salg og leasing af skibe med indbygget option. Virksomheden anvender en aktiv-let forretningsstrategi, ejer en lille procentdel af driftsflåden, og tilpasser eksponeringen til markedsudviklingen. Norden har flere globale kontorer og har hovedkontor i København, Danmark.
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