NORDEN Achieves Impressive Q1 2025 Net Profit Amid Market Challenges

NORDEN Reports Robust Q1 2025 Results

On May 1, 2025, NORDEN, a prominent player in the maritime industry, announced its financial performance for the first quarter of 2025. The company reported a notable net profit of USD 33 million (equivalent to DKK 234 million), reflecting resilience amid geopolitical uncertainties and challenging market dynamics. This net profit translates to an impressive 11% return on invested capital over the last twelve months.

Strategic Moves and Vessel Sales

In line with its ongoing strategy to optimize asset values, NORDEN successfully sold nine vessels during the quarter, which included three ships from previously declared purchase options. This strategic decision not only realized part of their net asset value (NAV), which stood at DKK 372 per share by the end of March 2025, but also allowed the company to maintain financial stability in a fluctuating market.

Given the circumstances, NORDEN has sustained its guidance for the full-year net profit, previously announced on April 25, 2025. The company now anticipates a net profit ranging from USD 50 million to USD 130 million, increasing the initial range of USD 20 million to USD 100 million. This optimistic outlook is buoyed by expected gains of USD 45 million from vessel sales, significantly higher than the earlier estimate of USD 16 million.

CEO's Insights

CEO Jan Rindbo commented on the company's performance, highlighting the success of securing profits in a notably weaker maritime market. "Despite the challenges, we generated a profit of USD 33 million in the first quarter of 2025 due to our strong market coverage. Our decision to sell nine vessels allowed us to capitalize on high asset values, leading to a significant increase in our profit guidance for the year," Rindbo stated.

Dividend and Shareholder Returns

In recognizing the company’s strong financial performance, NORDEN has proposed to distribute USD 17 million to its shareholders for the first quarter. This will be executed through a dividend of DKK 2 per share, alongside a new share buy-back initiative worth USD 7 million, which totals 52% of the Q1 profit. This commitment to shareholder returns underscores NORDEN's focus on delivering value to its investors.

Market Outlook

Looking ahead, NORDEN is poised to navigate the ongoing challenges within the maritime sector thanks to its proactive strategies and operational efficiency. The management remains optimistic about the company's future performance, maintaining a fine balance between realizing asset value and fostering long-term growth.

Conclusion

As NORDEN moves through 2025, its first-quarter results reflect both a robust financial position and the ability to adapt to external challenges. With strategic vessel sales and a commitment to shareholder returns, NORDEN is ready to face the future while supporting its investors and navigating the maritime landscape.

For further information on NORDEN's financial performance and future strategies, please contact:

Therese Möllevinge, Head of Investor Relations
Tel. +45 41 37 16 38
Email: [email protected]

Isabella Zaugg Hansen, Investor Relations Manager
Tel. +45 27 62 90 96
Email: [email protected]

This information was provided by Cision.