#Denmark #Asset Management #NORDEN #Hellerup #ship sales

NORDEN's Impressive Third Quarter Financial Results

NORDEN, a leading player in global shipping and logistics, has announced a remarkable financial performance for the third quarter of 2025. The Group reported a net profit of USD 26 million (equivalent to DKK 166 million), underscoring the company’s strong operational performance during this period. This positive outcome was primarily attributed to the Asset Management division, which continued to show robust growth propelled by effective asset management strategies and successful vessel sales.

For the first nine months of 2025, NORDEN's cumulative net profit reached an impressive USD 111 million. This figure includes USD 43 million from operational earnings and USD 68 million derived from the sales of assets. The elevated forward rates and asset values have enhanced NORDEN’s Net Asset Value (NAV), now standing at DKK 362 per share, signaling significant potential for future growth in favorable market conditions.

In light of these strong financial indicators, NORDEN's strategy has been crystal clear: realize high portfolio values. This has resulted in the sale of 22 vessels in the first three quarters of this year. Out of these, 15 vessels were sold under declared purchase options, demonstrating not only NORDEN's proactive approach but also its ability to capitalize on market conditions. Furthermore, the company has made strategic moves by acquiring one more vessel and initiating 22 new lease agreements that come with purchase options, showcasing a forward-thinking approach that aims to maximize its asset utilization.

The company's success did not go unnoticed in its full-year outlook. On October 28, 2025, NORDEN raised its full-year guidance from an expected net profit of USD 70-130 million to a new range of USD 100-140 million. This increase reflects the better-than-anticipated operational outcomes and favorable market conditions that have positioned NORDEN to achieve enhanced profitability. An integral component of this guidance is the anticipated gains from vessel sales, which have been adjusted to USD 73 million.

Jan Rindbo, NORDEN’s CEO, expressed optimism regarding the company’s financial trajectory. “The strong quarterly surge in asset values has elevated our NAV to DKK 362 per share, which underscores our significant potential in dynamic asset markets. The combination of improved operational performance and rising markets compelled us to adjust our full-year projections for net profit,” said Rindbo.

In alignment with its positive financial results, NORDEN has proposed to distribute USD 20 million to shareholders as part of its quarterly dividend strategy. This includes a dividend of DKK 2 per share, accompanied by a new share buy-back program valued at USD 10 million, equating to 77% of the profits from the third quarter. Such actions not only reflect the company's profitability but also its commitment to returning value to its shareholders.

The dividend will be processed through VP Securities, based on the list of shareholders registered by November 3, 2025, post the close of trading on Nasdaq Copenhagen. For those looking to invest, trading in NORDEN shares cum interim dividend will be available until October 30, 2025. Shares sold from October 31, 2025, onward will trade ex interim dividend.

This financial report and distribution of profits highlight NORDEN's strength and resilience in an ever-competitive maritime industry. As the company continues to navigate the complexities of the market while focusing on strategic asset management and sales, it remains well-positioned for future growth opportunities and enhanced shareholder value.

For inquiries or further information, reach out to Therese Möllevinge, Head of Investor Relations at NORDEN, via telephone at +45 41 37 16 38 or email.