Expectations for 2010
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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. |
Forward-looking statements
The annual- and interim reports and stock exchange announcements referred to above contain certain forward-looking statements reflecting the management’s present judgment of future events and financial results. Statements relating to 2010 and the years ahead are inherently subject to uncertainty, and NORDEN's realised results may therefore differ from the projections. Factors that may cause NORDEN's realised results to differ from the projections include, but are not limited to: changes in macro-economic and political conditions (particularly in the Company’s principal markets), changes to NORDEN's rate assumptions and operating costs, volatility in rates and tonnage prices, regulatory changes, counterparty risks, any disruptions to traffic and operations as a result of external events etc. The reports and announcements should not be interpreted as a recommendation to purchase or sell shares in Dampskibsselskabet NORDEN A/S.
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