NORDEN’s Fourth Quarter One of the Best in Years

NORDEN reported its fourth quarter results yesterday.

Some highlights:

Annual Report 2019

• Adjusted Result* for the year 2019: USD 23 million (2018: USD 20 million)

• Dry Operator: USD 8 million (USD 30 million)

• Dry Owner: USD 2 million (USD 18 million)

• Tankers: USD 13 million (USD -28 million).

EBIT 2019: USD 57 million (USD 39 million)

* ”Profit/loss for the period” adjusted for “Profit/loss from sale of vessels, etc.

Outlook 2020

• Despite challenging markets and an uncertain outlook due to the outbreak of the COVID-19 virus, NORDEN expects to deliver improved earnings with an expected Adjusted Result for 2020 in the range of USD 30 to 70 million. Previous expectations

CEO Jan Rindbo in comment:

TRADING TO THE NEXT LEVEL

“With the best quarterly result in almost five years, NORDEN finished the year with a strong performance in the fourth quarter delivering a USD 23 million profit for 2019. Despite challenging markets and an uncertain outlook for the global economy, NORDEN expects to deliver improved earnings with an expected Adjusted Result for 2020 in the range of USD 30 to 70 million.” 

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