Interim report - second quarter and first half-year of 2017 and video: NORDEN Update

17 Aug 2017

Some highlights:

Second quarter of 2017

  • Results
    Adjusted result for Q2 2017: USD -3 million (Q2 2016: USD -4 million)
    ▪ Dry Cargo: USD -7 million (USD -11 million)
    ▪ Tankers: USD 3 million (USD 7 million)
    Group EBIT Q2 2017: USD -3 million (USD -34 million) 

Expectations for 2017

  • Expectations for the adjusted results for the year are narrowed within the guidance previously announced to USD -20 to 20 million. Previous expectations

CEO Jan Rindbo in comment: ”In Dry Cargo, the gradual recovery in both market conditions and our earnings continues, although still at loss-making levels. Strategically we are building a strong platform for increased value generation in Dry Cargo through the split into 2 distinct dry cargo business units: Operator and Owner. In Tankers, NORDEN made the best of a very challenging market generating a profit and increasing the capacity at attractive cost levels. Combined with continued annual operational cost savings and highly skilled employees, NORDEN is thereby well-positioned towards improving markets in both dry cargo and tankers in the future.”

  pdf Announcement No 7




 Second quarter of 2017
 All documents

 Watch video here

  Dial in details and link