NORDEN Q3 2025 Results Showcase Strong Growth with $26 Million Profit

NORDEN Reports Increased Profit in Q3 2025

NORDEN, a prominent player in asset management and maritime operations, announced a noteworthy net profit of USD 26 million (DKK 166 million) for the third quarter of 2025. This robust performance was spurred by strategic asset management initiatives and successful vessel sales.

In the first nine months of 2025, the group accumulated a net profit totaling USD 111 million. This impressive figure breaks down to USD 43 million derived from operating earnings and USD 68 million from capital gains on sales. The strengthening of forward rates and increasing asset values have contributed to enhancing the company’s net asset value (NAV) to DKK 362 per share, indicating an optimistic upside potential as market conditions improve.

During this period, NORDEN continued its proactive strategy to optimize portfolio valuations, resulting in the successful sale of 22 vessels—15 of which were sold as part of declared purchase options. Additionally, the company acquired one vessel and secured 22 new lease agreements with purchase options.

Looking ahead, NORDEN remains confident in its performance trajectory. The full-year profit guidance has been revised upward to reflect anticipated results. The new projection estimates a net profit of between USD 100 million and USD 140 million, a significant increase from the previous expectations of USD 70-130 million. This includes additional gains projected from vessel sales, which now stands at USD 73 million.

CEO Remarks

NORDEN's CEO, Jan Rindbo, provided insights into the company’s prospects, stating, “A strong quarterly increase in asset values drove NAV to DKK 362 per share, highlighting our significant potential in dynamic asset markets. As a result of better-than-expected operational performance and rising markets, we raised our full-year net profit guidance to USD 100-140 million.”

In response to this solid quarter, NORDEN plans to distribute USD 20 million to its shareholders through a dividend of DKK 2 per share and a new share buyback program worth USD 10 million, allocating 77% of the Q3 profits towards shareholder returns.

The dividend distribution will take effect based on shareholdings registered in VP Securities as of November 3, 2025, with interim trading conditions outlined for shareholders on Nasdaq Copenhagen. NORDEN shares will trade with interim dividends until October 30, 2025, allowing shareholders to benefit from the announced profits swiftly.

In conclusion, NORDEN's third-quarter performance reflects its strategic initiatives in asset management and sales, resultantly yielding significant profits and an optimistic outlook for investors and stakeholders. With adept management, NORDEN is poised for continued success in the evolving maritime market landscape.