For Q1 2023, NORDEN reports a profit of USD 150 million (approx. DKK 1 billion). Cash flow from operating activities amounted to USD 146 million (approx. DKK 1 billion). Return on equity was 40% at the end of Q1.
NORDEN CEO, Jan Rindbo, comments:
“NORDEN generated USD 150 million in profit for Q1 and a return on equity of 40%. Our asset-light freight service and high contract cover adds stability in earnings in volatile spot markets. During the quarter, we also captured significant profits from vessel sales, while widening our portfolio to cover all dry cargo segments with the purchase of Capesize vessels. Following a strong start to the year, NORDEN will pay an interim dividend of DKK 15 per share as we continue to focus on delivering value to our shareholders.”
Interim report - first quarter 2023