Expectations for 2013
2013 |
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15 May 2013 |
NORDEN maintains its expectations for the results for the year with a group EBITDA of USD 15-45 million. Announcement No 14 |
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6 March 2013 |
In 2013, NORDEN expects an EBITDA of USD 15-45 million. The Dry Cargo Department is expected to break even operationally, and the Tanker Department is expected to generate operating earnings of USD 25-45 million. Announcement No 2 |
Forward-looking statementsThe annual- and interim reports and stock exchange announcements referred to above contains certain forward-looking statements reflecting the management’s present judgment of future events and financial results. Statements relating to 2013 and subsequent years are subject to uncertainty, and NORDEN’s actual results may therefore differ from the projections. Factors that may cause such variance include, but are not limited to, changes in macro-economic and political conditions, particularly in the Company’s principal markets; changes to the Company’s rate assumptions and operating costs; volatility in rates and tonnage prices; regulatory changes; any disruptions to traffic and operations as a result of external events, etc. |
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2012 |
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14 November 2012 |
NORDEN maintains its expectations for a full-year EBITDA of USD 110-150 million. Announcement No 18 |
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15 August 2012 |
NORDEN maintains its expectations for an EBITDA of USD 110-150 million, whereas expectations for CAPEX are adjusted to USD 80-100 million. Announcement No 14 |
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15 May 2012 |
NORDEN maintains its expectations for an EBITDA of USD 110-150 million. As a result of the write-down of vessels, depreciation for the year is reduced, and the expectations for EBIT before write-downs are therefore increased to USD 20-60 million. Announcement No 11 |
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7 March 2012 |
In 2012, NORDEN expects an EBITDA of USD 110-150 million with somewhat lower earnings in Dry Cargo (USD 85-125 million) and increasing earnings in Tankers (USD 25-45 million). After depreciation of USD 100-105 million and without profits from the sale of vessels, EBIT is expected to amount to USD 10-50 million. Announcement No 4
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2011 |
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15 November 2011 |
NORDEN revises its full-year estimates to an EBITDA of USD 160-180 million (previously USD 135-175 million) and an EBIT of USD 80-100 million (previously USD 55-95 million). Announcement No 35 |
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16 August 2011 |
NORDEN maintains its expectations of an EBITDA of USD 135-175 million and an EBIT of USD 55-95 million. Announcement No 30 |
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2 March 2011 |
With 85% coverage, Dry Cargo is well prepared for a challenging market in 2011, while Tankers with 36% coverage is more exposed to a market where spot rates are expected to gradually increase. Exclusive of the substantial non-recurring income from 2010, EBITDA in Dry Cargo is expected to decline to USD 125-155 million in 2011, whereas EBITDA in Tankers is expected to increase to USD 20-30 million. NORDEN’s EBIT is estimated to be USD 55-95 million, without any sales proceeds and with higher depreciation. During the strategy period 2011-13, NORDEN aims to grow the cargo programme in Dry Cargo by 15% annually while expanding the core fleet. In Tankers, NORDEN will continue to use the low vessel prices to expand the tanker fleet to 25 owned vessels through acquisitions. In the period, NORDEN aims to provide shareholders a return higher than our peers. Announcement No 11 |
2010 |
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16 November 2010 |
As a result of a significant decrease in dry cargo freight rates in the fourth quarter and agreements on long-term coverage, which move earnings from the fourth quarter to the coming years, NORDEN lowers its expectations to an EBITDA of USD 220-250 million (previously USD 240-270 million) and an EBIT of USD 210-240 million (previously USD 225-255 million). Annoucement No 23 |
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17 August 2010 |
Based on the good results in the first half-year and high coverage, NORDEN raises its expectations to an EBITDA of USD 240-270 million (previously 200-250 million) and an EBIT of USD 225-255 million (previously 185-235 million). Announcement No 20 |
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22 June 2010 |
NORDEN raises its expectations for the operating profit for 2010 before selling profits, depreciation and net financials (EBITDA) by USD 30 million to USD 200-250 million, and expectations to the primary operating profit (EBIT) are raised correspondingly. The upward adjustment concerns the activities in Dry Cargo, while the expectations in Tankers are unchanged. Announcement No 19 |
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19 May 2010 |
Based on the results in the first quarter and the good coverage for the rest of the year, NORDEN raises its expectations in both Dry Cargo and Tankers to an EBITDA of USD 200-230 million and USD -20-0 million, respectively, from USD 190-220 million and USD -25 to-5 million, respectively. Consequently, the Group's EBITDA is expected to be USD 170-220 million (previously USD 155-205 million), whereas the Group's EBIT is expected to be USD 155-205 million (previously USD 135-185 million). Announcement No 17 |
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9 March 2010 |
NORDEN plans to increase activities within both segments in 2010. EBITDA in Dry Cargo is expected to increase to USD 190-220 million, EBITDA in Tankers is expected to decrease to negative USD 5-25 million, and NORDEN's EBITDA is expected to increase to USD 155-205 million. EBIT is expected to amount to USD 135-185 million due to fewer known profits from the sale of vessels and increased depreciation on a growing fleet of owned vessels. Announcement No 8 |
2009 |
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19 November 2009 |
The expectations for 2009 are narrowed down to an EBITDA of USD 120-130 million (against previous USD 100-150 million) and an EBIT of USD 150-160 million (against previous USD 122-172 million). The changes reflect a better result in Dry Cargo and a worse result in Tankers. Announcement No 34 |
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13 August 2009 |
NORDEN makes an upward adjustment of the expected operating profit (EBIT) for 2009 to USD 122-172 million, including profits from the sale of vessels of USD 67 million, against previously expected USD 110-160 million. Announcement No 25 |
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12 May 2009 |
NORDEN's expectations for 2009 are revised as follows:
The expectations have been calculated on the basis of the capacity which is at NORDEN's disposal today. Any rulings by court or arbitration in NORDEN's favour in pending cases may affect |
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15 April 2009 |
Taking into account the continued great uncertainty in relation to NORDEN's markets and contractual counterparties, the Company finds it most prudent to increase only the lower part of the previously announced expectations for EBIT, and EBIT for 2009 is hereafter expected to be in the range of USD 100-325 million against previously expected USD 85-325 million. Announcement No 17 |
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10 March 2009 |
At 1 March 2009, NORDEN had secured employment of 101% of the year's ship days in Dry Cargo, whereas the coverage in Tankers was 35%. The economic crisis has caused significant uncertainty and affected customers in both segments. Although the known capacity in Dry Cargo has been covered, it is uncertain to what extent the Company's cargo programme and contracted T/C income will actually be realised if the current very low market rates and demand for key commodities prevail. The Tanker Department's market outlook is also subject to significant uncertainty. The Company has Expected EBITDA is USD 100-340 million (USD 100-300 million in Dry Cargo and USD 20-50 million in Tankers). Expected profits from the sale of vessels are USD 25 million, and expected EBIT is USD 85-325 million. |