Q4 2018 Dampskibsselskabet Norden A/S Pre-Recorded Earnings Presentation Transcript
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NORDEN is increasingly becoming an asset-light business. Today, less than 15% of the vessels we operate are owned. This gives flexibility and agility, and 2018 called for both. While the dry cargo market for most of the year offered a gradual improvement, the tanker market suffered severely from overcapacity and low transport demand.
On that background, NORDEN generated an adjusted result of $20 million, which was in line with the latest guidance. The result corresponds to an EBIT of $39 million and marks another step in the right direction of making NORDEN more profitable. In November 2018, NORDEN initiated a share buyback program of $10 million. On top of this, the board proposes that a dividend of DKK 2 per share is paid to the shareholders, bringing the total return to shareholders to
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