NORDEN – Presentation of the quarterly report for Q1 2026
NORDEN is set to release their quarterly report for Q1 2026 on the morning of Wednesday 6 May 2026. On the same day at 10:30 AM, we are pleased to invite you to a presentation of the financial results with CEO Jan Rindbo and CFO Martin Badsted, who will also answer questions from the audience.
On 28 April NORDEN raised its 2026 full-year net profit guidance to USD 70-140m (previously USD 30-100m), driven by additional vessel sales and a stronger tanker market. In Q1 2026, the group delivered a net result of USD 11m (DKK 72m), where strong spot rates in the tanker segment (EBIT before IFRS 16: USD 47.3m) were offset by a loss in dry cargo (EBIT: USD -45.0m) due to charter and repositioning costs related to the Iran conflict. According to the company, the tanker market experienced a significant uptick towards the end of the quarter, driven by disruptions in global oil supply, and a material improvement in spot earnings is expected for 2026, although the outlook depends on the resumption of trade through the Strait of Hormuz. In dry cargo, a gradual improvement is expected as the repositioning of the fleet is anticipated to create value in Q2. Expected gains from vessel sales in 2026 are simultaneously raised to USD 64m (previously USD 20m).
NORDEN has paid a dividend of DKK 2 per quarter for the last eight quarters.
Disclaimer: HC Andersen Capital receives payment from NORDEN for a Digital IR subscription agreement. Rasmus Køjborg, CFA at 15.41 on 27/04-2026. (Updated at 8.55 on 28/4-2026).
