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NORDEN – Presentation of the annual report for 2024

Af HC Andersen Capital
D/S Norden

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NORDEN is expected to announce its annual report for 2024 on the morning of Thursday the 6th of February 2025. On the same day at 9:30 AM, we are pleased to invite you to a presentation of the financial results with CFO Martin Badsted, who will also answer questions from the audience.

The current guidance from NORDEN for 2024, following a narrowing of expectations in connection with the quarterly report at the end of October 2024, forecasts a net result of USD 160-210 million (previously USD 160-240 million), primarily due to weaker spot rates in the tanker market. This guidance includes already agreed ship sales amounting to USD 83 million (previously USD 61 million).

A single analyst providing estimates to S&P Capital IQ expects results of USD 185 million and USD 225 million for 2024 and 2025, respectively. Estimates collected by NORDEN itself from five analysts project results of USD 182 million and USD 192 million for 2024 and 2025, respectively (these figures were last updated on 31st of October 2024).

NORDEN paid a quarterly dividend of DKK 10 per share in the last three financial statements of 2023, whereas for the latest three quarterly reports in 2024 (Q1, Q2, and Q3), a dividend of DKK 2 per share was paid each time. There are currently no consensus expectations for the dividend.

Disclaimer: HC Andersen Capital receives payment from NORDEN for a Digital IR/Corporate Visibility subscription agreement. Rasmus Køjborg, CFA at 15:32 on 24/01-2025.

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