Q1 2025 Dampskibsselskabet Norden A/S Earnings Call Transcript
Key Points
- Dampskibsselskabet Norden AS (DPBSF) reported a net profit of $33 million for Q1 2025, with a return on invested capital of 11%.
- The company upgraded its full-year guidance to $50 to $130 million, driven by vessel sales and strong operational performance.
- Improved operational performance was noted, particularly in the dry operator segment, contributing to margin recovery.
- The company is returning capital to shareholders, distributing $17 million through dividends and a share buyback program.
- Dampskibsselskabet Norden AS (DPBSF) maintains a strong balance sheet with low bank debt, positioning itself well for future market opportunities.
- Spot rates are down in both the tanker and dry segments, indicating a weak market environment.
- The EBITDA decreased compared to the same period last year, primarily due to fewer gains from vessel sales.
- The tanker operator segment experienced lower earnings due to a weaker market.
- Uncertainty from US tariffs and geopolitical tensions could negatively impact global growth and market conditions.
- The company's stock is trading at a significant discount to its net asset value, reflecting market pessimism about the near-term outlook.
Good morning and welcome everyone. We are ready to start today's event here. My name is Rasmus Kobo, and on behalf of Dampskibsselskabet Norden, I have the pleasure of welcoming CFO Martin Badsted from Norden who will take us through the Q1 2025 report that was published this morning. So first of all, a warm welcome to you, Martin. And before I hand over also one welcome to all of those of you who signed up for today's presentation, as usually you can ask questions in the chats, so you're welcome to do that. You can do it either in English and you can do it in Danish if you prefer that and do the translation then, and should you want to see the presentation again, we'll record it and then publish it on different platforms afterwards. But with that, I'll leave the floor to you, Martin.
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Thank you very much and to all of you listening in, welcome to this presentation of our Q1 results for 2025. Let's jump right in, as
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