NORDEN reports net profit of USD 163 million and NAV of DKK 425 per share for 2024

Despite continued geopolitical uncertainties and a market impacted by challenging market conditions, NORDEN delivered a solid result with a net profit of USD 163 million (DKK ~1.2 bn) and a return on invested capital of 14% in 2024.

NORDEN CEO, Jan Rindbo comments:
“Geopolitical uncertainty combined with fluctuating supply and demand patterns have underscored the complexity of our operating environment. However, we have demonstrated our ability to adapt, leveraging our diversified portfolio and operational excellence to deliver good returns. Overall, we reported a net profit of USD 163 million and a ROIC of 14%.”

Based on the current market outlook and also as a result of lower sales gains from already signed transactions, profitability is expected to be lower compared to 2024 with a full-year 2025 guidance of a net profit in the range of USD 20-100 million. The guidance for 2025 includes gains from sale of vessels from already signed and agreed transactions of USD 16 million.

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Analyst and investor conference call with CFO and CEO at 3pm CET (in English)

Join us when CEO, Jan Rindbo and CFO, Martin Badsted will give a presentation of the full-year 2024 results and provide an overview of the latest market developments on reporting day at 3pm CET. 

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