Interim report - second quarter 2024

For Q2 2024, NORDEN reports a profit of USD 46 million (approx. DKK 320 million) and USD 108 million (approx. DKK 755 million) for the first half-year of 2024.

Return on invested capital (ROIC) was 21% by end of Q2 based on the last twelve months.

NORDEN narrows its full-year guidance of a net profit in the range of USD 160 to 240 million from previously USD 150 to 250 million, including gains on sale of vessels from already signed and agreed transactions of USD 61 million (approx. DKK 425 million).

NORDEN CEO, Jan Rindbo, comments:

“For the second quarter, NORDEN generated a net profit of USD 46 million and continued positive market developments supported our net asset values. Return on invested capital was 21% for the past twelve months. We have executed on our growth strategy by investing in modern Capesize vessels and in Projects & Parcelling by acquiring Norlat Shipping, while at the same time returning USD 23 million to shareholders for the second quarter. We narrow the full-year guidance range to USD 160 to 240 million expecting further gradual improvements in margins on our Freight Services & Trading business.” 

Join our investor presentation in collaboration with Q4 on August 8 2024 at 15.00 CEST, where our CEO, Jan Rindbo and CFO, Martin Badsted will provide a presentation on the financials, give an update on the business and provide insights into the market developments. 

You can choose to join via telephone or webcast.
 

Sign up to join via webcast here

Or join by telephone by dialing:

Denmark: +45 89 87 50 45
United Kingdom: +44 20 3936 2999
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Norway: +47 815 03 308
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