#Denmark #Maritime Industry #NORDEN #Net Profit #Hellerup

NORDEN Reports Q1 2025 Financial Results

NORDEN, a key player in the maritime industry, has announced a remarkable financial performance for the first quarter of 2025. Reporting a net profit of USD 33 million (equivalent to DKK 234 million), the company has showcased its resilience despite ongoing geopolitical uncertainties and challenging market conditions.

Strong Financial Performance

NORDEN's reported return on invested capital stood at 11% over the last twelve months, a testament to its effective resource management and strategic planning. The company’s net asset value per share reached DKK 372 at the end of the quarter, reflecting prudent financial governance.

In line with its strategy to maximize asset values, NORDEN made significant asset divestments this quarter, selling nine vessels to unlock cash flow and enhance operational flexibility. Of these, three vessels were sold through previously declared purchase options, contributing to the overall financial success of the quarter.

Upgraded Full-Year Outlook

NORDEN's management has maintained its full-year guidance for 2025, expecting a net profit between USD 50 million and USD 130 million, which was an upward revision from the earlier forecast of USD 20 million to USD 100 million. This increase is attributed primarily to higher gains from vessel sales, projected to reach USD 45 million, up from a previous estimate of USD 16 million. This positive outlook is supported by the company’s robust operational performance and strategic asset management.

Jan Rindbo, CEO of NORDEN, commented on the financial results stating, "The profit of USD 33 million was mainly driven by our strong coverage, which emerged even in a significantly weaker market environment. The decision to sell nine vessels this quarter reflects our commitment to capitalize on high asset values."

Returns to Shareholders

In an effort to reward investors, NORDEN has proposed a USD 17 million distribution to shareholders, translating to a dividend of DKK 2 per share. This represents an impressive 52% of the quarter's net profit. Additionally, the company has initiated a share buy-back program valued at USD 7 million to further enhance shareholder value.

Shareholders can expect the dividend to be processed on May 6, 2025, following the registration of their shareholdings in the VP Securities system. The shares traded on Nasdaq Copenhagen will reflect this interim dividend up until May 1, 2025.

Moving Forward

Despite uncertainties in the geopolitical landscape and the challenges posed by a volatile market, NORDEN's first-quarter performance serves as a strong indicator of its capabilities and resilience in navigating difficult waters. As the company moves forward, it aims to sustain its momentum by focusing on strategic asset management and operational efficiencies that can maximize shareholder value.

NORDEN's strategic initiatives and commitment to adapt will remain crucial as it progresses through 2025, positioning itself not only as a leader in the maritime sector but as a strong contender amidst fluctuating global conditions.