Nov 06, 2019 / 08:00AM GMT
Presentation
Nov 06, 2019 / 08:00AM GMT
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Corporate Participants
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* Jan Rindbo
Dampskibsselskabet Norden A/S - CEO
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Jan Rindbo - Dampskibsselskabet Norden A/S-CEO
A seasonally weak tanker market, NORDEN-owned tankers taken out of operation to have scrubbers installed and Dry Operator successfully positioning for the next quarter resulted in NORDEN realizing an adjusted result in the third quarter of 2019 of minus $4 million. The result corresponds to an EBIT of $12 million, which was positively impacted by a $4 million profit from sale of vessels. Cash flows from operations in the third quarter amounted to $31 million, bringing the total cash flow from operating activities in the first 3 quarters to more than $115 million.
Turning to our business units.
Dry Operator generated an adjusted result for the quarter of $3 million. Dry Operator used second and part of the third quarter to build a long and regionally optimal position. This started
Q3 2019 Dampskibsselskabet Norden A/S Pre-Recorded Earnings Presentation Transcript
Feb 13, 2024
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