#Denmark #Q2 2025 #NORDEN #Hellerup #Profit Report

NORDEN Reports Strong Profit in Q2 2025

NORDEN, a prominent player in the maritime industry, has successfully navigated through challenging market conditions, achieving a significant net profit of USD 52 million (or DKK 342 million) for the second quarter of 2025. This notable performance has been complemented by a return on invested capital (ROIC) of 10% for the last twelve months.

In the first half of 2025, NORDEN recorded a total net profit of USD 85 million, which includes USD 44 million derived from the company's operational activities and USD 41 million from successful sales gains. This financial outcome underscores the strategic initiatives implemented by NORDEN in securing profitable engagements.

At the conclusion of Q2, the company's net asset value (NAV) stood at DKK 337 per share. As part of its ongoing strategy to enhance portfolio values, NORDEN has made progress by selling 20 vessels year-to-date (YTD), including two vessels post-quarter. Among these, 13 vessels were sold following declared purchase options, showcasing their effective asset management.

In addition to selling vessels, NORDEN has also from its side entered into 18 new lease agreements to maintain a robust position for future market opportunities. This dual approach not only optimizes their fleet but also allows them to capitalize on the most fuel-efficient vessels available in the industry today.

Building on this momentum, NORDEN has updated its full-year profit guidance, narrowing it to a range of USD 70-130 million, adjusting from the previous estimate of USD 50-130 million. The company anticipates generating profits of USD 70 million from vessel sales for the entire year of 2025, increasing from a prior expectation of USD 45 million.

CEO Jan Rindbo commented on the Q2 results, stating, “We generated a net profit of USD 52 million and a ROIC of 10%, primarily due to favorable contract covers and sales gains amid weaker spot market conditions. Our strategy of optimizing the fleet with the most fuel-efficient vessels is paying off.”

Significantly, NORDEN has proposed to distribute USD 20 million to shareholders through a dividend of DKK 2 per share. Furthermore, they will initiate a share buy-back program valued at USD 10 million, representing 38% of the Q2 results. This move is anticipated to bolster shareholder value while continuing NORDEN's commitment to strategic growth.

Dividend payments are set to flow through VP Securities, based on shareholdings registered by August 18, 2025, after the market closes on Nasdaq Copenhagen. Following their trading mechanics, shares will remain eligible for the interim dividend until August 14, 2025. Post this date, shares will be traded ex interim dividend, with payments expected to be visible in shareholders' accounts by August 19, 2025.

NORDEN's remarkable performance, even amidst adverse conditions, highlights the firm's adaptability and strategic insights, making it a key entity to watch in the maritime market going forward.