Interim report - Second quarter and first half-year of 2019 and video: NORDEN Update

14 Aug 2019

Some highlights:

Second quarter of 2019

  • Adjusted Result* for Q2 2019: USD -12 million (Q2 2018: USD 4 million)

  • Adjusted Result* for first half-year of 2019: USD -5 million (H1 2018: 12 million)

  • Dry Operator: USD -6 million (USD 8 million)

  • Dry Owner: USD -2 million (USD 3 million)

  • Tankers: USD -3 million (USD -8 million).

Profit from sale of vessels: USD 3 million

* ”Profit/loss for the period” adjusted for “Profit/loss from sale of vessels, etc.

Expectations for 2019

  • Expectations for the Adjusted Result for the year are maintained at USD 25 to 60 million. Previous expectations

CEO Jan Rindbo in comment:


Dry Operator entered the second quarter on the wrong foot but managed to quickly adjust its position to still generate a positive trading margin. However, this was not enough to prevent a loss in this business unit. Despite the disappointing result, we still expect Dry Operator to be profitable for the full year, which, combined with a firming forward Tanker market, enables NORDEN to maintain the overall guidance of USD 25-60 million profit for 2019.”

  pdf Announcement No 14




 Second quarter of 2019
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 Watch video here

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