IR Policy

Investor relations policy

It is the Company’s goal that the share price reflects the Company’s actual and expected ability to create value for its shareholders. For this reason, NORDEN seeks to consistently provide timely, precise and relevant information on the Company’s strategy, operation, results, expectations and other matters affecting the assessment of the price of the share.

Detailed reporting

NORDEN sends out quarterly reports and a detailed Annual Report, which describes our strategy, operation, segments and financial results together with our expectations to both market conditions and NORDEN’s financial performance.

On an ongoing basis, NORDEN will adjust its fleet and long-term employment. The fleet is described in detail here at the website (dry cargo fleet - tanker fleet), and in our quarterly and annual reports we furthermore give a summary of the composition of our fleet, especially focusing on our own vessels, long-term chartered vessels with and without purchase options, together with our own newbuilding programme. Also, the employment of the known shipdays for the current and future financial years is being updated in the quarterly reports.

Communication policy concerning specific events

Transactions such as the purchase and sale of vessels, new cargo contracts etc. are an integrated part of NORDEN’s business model, and only in rare cases do they affect the Company’s earnings and business significantly and independently. The Company has therefore decided on the below guidelines for when such transactions entail separate information to the market in the form of a company announcement:

NORDEN will send out a company announcement to the market provided that a transaction:

  • Concerns more than 10 vessels,
  • Takes place at terms different from the market and entails a net present value of more than +/-3% of the Company’s market capitalisation, or
  • Indicates a change of strategy

The above does not rule out that other factors which are assessed to considerably affect the price of NORDEN’s shares will result in publication of company announcements regarding transactions. The Company will continue to provide detailed information about fleet composition in the interim reports. As previously, focus will be on the core fleet in the form of owned vessels and vessels chartered for more than 13 months. Furthermore, fleet lists for both the dry cargo and the tanker segment are available.

Easy access to information

All financial reports are published in English and highlights and key figures in Danish and all other company announcements are published in English and Danish. When published, reports, company announcements, presentations and audiocasts will be available here at our website. Reports, audiocasts and films

All interested stakeholders may subscribe to our
 e-mail news service.

Open dialogue

NORDEN strives to give all interested parties easy access to information through the website and to maintain an open dialogue with its stakeholders within the framework of the stock exchange rules of ethics. NORDEN hosts a teleconference when each interim report is presented, and both audiocast of the teleconference and the accompanying presentation are made available on the website. Furthermore a short film presenting the financial report is available at the website.
 See list of audiocasts,presentations and films

NORDEN continuously participates in trade fairs, conferences and meetings and other contacts with analysts, investors and the media.

NORDEN is monitored by analysts from finance houses
 See list of analysts

NORDEN does not host information meetings and does not comment on results and expectations less than three weeks prior to publication of financial reports (silent periods).

The Executive Management is responsible for the Company’s investor relations. Head of Business Analytics & Investor Relations Morten Aarup is responsible for day-to-day investor relation tasks.

Business Analytics & Investor Relations


Martin Badsted

Executive Vice President & CFO
Contact details

Morten Aarup

Head of Business Analytics & Investor Relations
Contact details