Norden
Highly Engaged Employees
Highly Engaged EmployeesMarine Shipping & Transportation · Denmark · 201-500 Employees
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Overview
Headquarters
Strandvejen 52, Hellerup, Capital Region...Phone Number
+45 33150451Website
www.norden.comRevenue
$576.9 MillionIndustry
ZI Rank: 2
Signal Type
Mar
Apr
May
Jun
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Aug
ZI Rank
4
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2
4
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2
About Norden
Founded in 1871, Norden is a Danish shipping company operating in the dry cargo and tanker segment worldwide. Norden is located in Denmark.Explore more
Norden Org Chart
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Company Profile Activity
Activity Insights
Norden is experiencing very low activity levels compared to other companies in the Transportation sector.
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Norden is drawing exceptional interest within the Transportation industry, suggesting notable developments or strong market momentum, learn more about Norden.
Norden Tech Stack
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Most Recent Scoops
Earnings
Norden has reported Q2 operating cash flow of $30.6 million and free cash flow of -$126.4 million, reflecting timing differences between Q1 and Q2 cash flows, with H1 cash from operations exceeding $100 million. The company noted that higher working capital is driven by growing activity levels and elevated oil prices, which increase oil inventory on the balance sheet as new vessels are started up.
Earnings, Business Finance, Finance, Oil & Gas
Earnings
Norden has reported dry cargo EBIT of $8 million for Q2, a significant improvement compared to -$45 million in Q1, supported by fleet repositioning from the Pacific into the Atlantic in anticipation of better rates. An estimated $30 million in extraordinary costs related to vessels stuck in the Persian Gulf impacted H1 results.
Earnings, Accounting, Financial Reporting, Finance
Earnings
Norden has raised the lower end of its full-year net profit guidance to $140 million, narrowing the interval to $140 to $190 million, up from the previously guided range of $120 to $190 million. The company has approximately 4,500 open days in dry cargo and approximately 1,200 open days in tankers for the remainder of the year.
Earnings
Norden has reported a net profit of $101 million for Q2, bringing the return on invested capital to 11% on a 12-month basis. Net asset value at the end of the quarter stood at 466 kroner per share, an increase of 23% since the beginning of the year, and the company distributed $34 million to shareholders, comprising a dividend of 2 kroner per share and a share buyback of $25 million.
Earnings, Finance, Financial Operations
Earnings
Earnings, Accounting, Financial Reporting, Finance
Norden News & Media
NORDEN reports net profit of USD 25 million in Q3 2024 and continues to return cash to shareholders
ANNOUNCEMENT NO. 234 – 31 OCTOBER 2024 NORDEN generated a net profit of USD 25 million in the third quarter of 2024, impacted by weaker than expected markets in both dry cargo and tankers. NORDEN’s net profit for the first nine months of 2024 was USD 133 million. Margins in Freight Services & Trading continued to be negative, driven by weaker tanker rates, whilst earnings from the dry cargo activities are improving. As expected,NORDEN reports net profit of USD 46 million in Q2 2024 and continue to return cash to shareholders
ANNOUNCEMENT NO. 170 – 8 AUGUST 2024 For Q2 2024, NORDEN reports a profit of USD 46 million (approx. DKK 320 million) and USD 108 million (approx. DKK 755 million) for the first half-year of 2024. Return on invested capital (ROIC) was 21% by end of Q2 based on the last twelve months. NORDEN narrows its full-year guidance of a net profit in the range of USD 160 to 240 million (approx. DKK 1,120–1,675NORDEN reports net profit of USD 62 million in Q1 2024 and continue to return cash to shareholders
ANNOUNCEMENT NO. 95 – 25 APRIL 2024 For Q1 2024, NORDEN reports a profit of USD 62 million (approx. DKK 435 million). Free cash flow in the first quarter amounted to USD -50 million (approx. DKK -350 million). Return on invested capital (ROIC) was 26% by end of Q1 based on the last twelve months. NORDEN reiterates its full-year guidance of a net profit in the range of USD 150 to 250 million, includingElection of employees representatives for the board of directors of Dampskibsselskabet NORDEN A/S
ANNOUNCEMENT NO. 54 – 6 MARCH 2024 The employees of Dampskibsselskabet NORDEN A/S have elected the following employee representatives and alternates for the Company’s Board of Directors for a term of 4 years: Employee representatives: Sofie Schønherr, Lead Market Risk Analyst (newly elected) Ruhi Hermansen, Head of Operations (newly elected) Henrik Røjel, Head of Decarbonisation & Climate Solutions (re-election) Alternates: Anders Birk, Pool Management Theis Bach Christensen, Head of dry Operati
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Founded in 1871, Norden is a Danish shipping company operating in the dry cargo and tanker segment worldwide. Norden is located in Denmark.... Read More
