NORDEN reports net profit of USD 62 million for the first quarter of 2024 and continues to return cash to shareholders

NORDEN CEO, Jan Rindbo, comments:

“NORDEN generated a net profit of USD 62 million in the first quarter and a ROIC of 26% in the last twelve months. Our tanker activities performed well, as did our investments in assets, contributing positively to earnings and higher asset values, while as expected, we faced short-term headwinds from higher charter costs in dry cargo. We maintain our full-year guidance expecting gradually higher margins in dry cargo during the year, and will return USD 30 million (approx. DKK 210 million) to shareholders for the first quarter.”