Investor

Interim report - third quarter of 2018 and video: NORDEN Update

07 Nov 2018

Some highlights:

Third quarter of 2018

Adjusted Result* for Q3 2018: USD -12 million (Q3 2017: USD 4 million)
• Dry Operator: USD 2 million (USD -2 million)
• Dry Owner: USD 4 million (USD 7 million)
• Tankers: USD -18 million (USD -1 million)
EBIT Q3 2018: USD -7 million (USD -2 million)
*”Profit/loss for the period” adjusted for “Profit from sale of vessels etc.

Expectations for 2018

  • Expectations for the Adjusted Result for the year are maintained at USD 0 to 30 million. Previous expectations

CEO Jan Rindbo in comment:

WEAK TANKER MARKET OVERSHADOWING GOOD PERFORMANCE IN HEALTHY DRY CARGO MARKET

“Good performance in Dry Operator delivering another positive result cannot make up for the severe headwinds, we are facing in the tanker market. Dry Operator has responded well to changing trade flows following trade tensions between US and China and has during the third quarter protected value in positions that will benefit results in the fourth quarter. Dry Owner continues to benefit from an improving market and has increased cover. In tankers a gradual improvement in 2019 is expected as the market prepares for the IMO sulphur regulation. With a modern fleet, NORDEN is well prepared for this.”

  pdf Announcement No 12
 

Report

Video

Audiocast


 Third quarter of 2018
 All documents

 Watch video here

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