NORDEN (One-pager): Vessel sale gains drive raised outlook for 2025
Read the latest NORDEN One-pager following the Q1 2025 results, where the dry cargo and tanker shipping owner and operator delivered a net profit of USD 33 million, compared to USD 62 million in Q1 2024. The result was supported by improved performance in the Dry Operator segment (FST) and gains from vessel sales, although earnings were impacted by weaker tanker markets and reduced sales gains compared to the same period last year.
NORDEN continues its policy of quarterly dividends, paying DKK 2 per share for Q1 2025, in line with the quarterly payouts made throughout 2024. The company also initiated a new share buyback program of USD 7 million, underlining its commitment to shareholder returns.
For the full year 2025, NORDEN maintains its recently raised guidance of USD 50–130 million in net profit. The guidance upgrade was driven by higher expected gains from vessel sales, which are now expected around USD 45m in 2025, up from USD 16m previously, and full year vessel sale gains of USD 82m in 2024. NORDEN currently reports 44 in-the-money purchase options which may support further vessel gains above the USD 38m realised YTD in 2025.
Learn more by watching NORDEN’s Q1 2025 presentation, where CFO Martin Badsted discusses the Q1 results, market outlook, capital allocation, and outlook for 2025. Link: https://www.inderes.dk/videos/norden-presentation-of-q1-2025-report
Disclaimer: HC Andersen Capital receives payment from NORDEN for a Digital IR / corporate visibility subscription agreement./ Philip Coombes 07 May 2025 13:30