NORDEN raises full-year guidance for 2025
(Posted on 28/04/25)
On the back of the increased gains from sales of vessels and good operational performance, NORDEN, a global provider of ocean-based freight services for bulk and project cargo of all sizes, has upgraded the 2025 full-year guidance and now expects a net profit in the range of USD 50 – 130 million (previously USD 20 – 100 million).
Founded in 1871, NORDEN is one of Denmark’s oldest internationally operating shipping companies, with 18 offices across six continents.
As part of a strategy to realise asset values, NORDEN have, year-to-date, sold in total eleven vessels, of which five of the vessels were from declared purchase options. For the full-year 2025, they now expect gains from the sale of vessels of USD 45 million (previously USD 16 million). After tax and other items, the expected full-year net profit impact of vessel transactions since latest announced guidance is USD 23 million.
Jan Rindbo, CEO, commented: “Thanks to the disciplined execution of our asset strategy, we have managed to unlock significant portfolio value. In the pursuit of attractive returns, we are actively managing our portfolio of owned and leased vessels with the intention of reducing risk in the near-term and adding exposure in the long-term.”
NORDEN will publish its Q1 2025 interim report on 1 May 2025.
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