NORDEN reports net profit of USD 25 million in Q3 2024 and continues to return cash to shareholders.

NORDEN generated a net profit of USD 25 million in the third quarter of 2024, impacted by weaker than expected markets in both dry cargo and tankers. NORDEN’s net profit for the first nine months of 2024 was USD 133 million.

NORDEN CEO, Jan Rindbo, comments:

“NORDEN generated a net profit of USD 25 million in the third quarter. The reported Net Asset Value of NORDEN’s Assets & Logistics unit at the end of the quarter was DKK 433 per share. To capitalise on strong asset values, we have committed to selling five vessels with sales profits expected in the coming quarters. Due to a weaker tanker market, we narrow the full-year guidance to the range of USD 160-210 million.”
 

Analyst and investor conference call 3pm CET (in English)

Join us when CEO, Jan Rindbo and CFO, Martin Badsted will give a presentation of the third quarter results and provide an overview of the latest market developments. 

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