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.
Reports
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 program. Also, the employment of the known shipdays for the current and future financial years is being updated in the quarterly reports.
Policy regarding specific events
As a general guideline, sales of vessels are announced to the stock market as soon as an agreement has been reached with the buyer(s) of the vessel, if the sale is expected to significantly impact expected earnings in the current and/or future years. A profit exceeding 10% of the minimum expected operating profit (EBIT) for a given year is considered to be a significant effect, which will trigger an announcement on the vessel sale’s impact on NORDEN’s outlook.
In addition, sales of vessels that are not expected to significantly impact earnings, and ordering of new vessels, either own newbuildings or long term charters, will not be announced individually, but be described in quarterly and annual reports. Although we strive to be as transparent in our communication as possible, contractual obligations or the commercial interests of NORDEN may prohibit disclosure of exact sale prices, identity of buyer, time of delivery, vessel name and specifications, etc.
Easy access to information
All financial reports and 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.
Calendar
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).
Calendar
The Executive Management is responsible for the Company’s investor relations. Executive Vice President Martin Badsted is responsible for day-to-day investor relation tasks.
Corporate Secretariat & Investor Relations |
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Martin BadstedExecutive Vice President, Corporate Secretariat |
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Mette Berndorff AndersenAnalyst, Corporate Secretariat
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