May 05, 2022 / NTS GMT
Jan Rindbo - Dampskibsselskabet Norden A/S-CEO
Welcome to the presentation of NORDEN's Q1 results. NORDEN started the year with a remarkable result of $117 million based on very strong performances in both business units. Besides the strong first quarter result, we have also increased our expected profit for the year in the range of $270 million to $350 million based on significantly improved tanker markets and good regional positioning.
Assets and logistics delivered a profit of $41 million. The business unit has continued to profit on the strong dry cargo market by realizing sales gains of $28 million. This active trading approach is a core part of how assets and logistics generates value. In addition to vessel sales, the business unit has (inaudible) into profitable timeshare out contracts on dry cargo vessels. Despite vessel sales, the market value of both owned and leased vessels remained close to $1.3 billion. In addition, the market value of owned vessels exceeded the book value by over $100 million.
Assets and logistics also profited from good dry
Q1 2022 Dampskibsselskabet Norden A/S Investor Film by CEO Transcript
Feb 13, 2024
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