Q4 2019 Dampskibsselskabet Norden A/S Pre-Recorded Earnings Presentation Transcript

Mar 04, 2020 / 08:00AM GMT

Release Date Price: kr84.4 (+4.52%)

Transcript

Jan Rindbo;S;CEO

Dampskibsselskabet Norden A

/-

With the transition into a data-driven and trading-focused company continuing, NORDEN delivers an adjusted result of $23 million for 2019 within the range of the latest announced guidance of $10 million to $45 million. For the full year, NORDEN posted EBITDA of $218 million and cash flow from operations was $277 million. This is thereby the third consecutive year of profit driven by a strong adjusted result of $31 million in the fourth quarter.

With a strong balance sheet and low CapEx requirement from our asset-light growth strategy, we seek to increase dividend payments to shareholders. As a new dividend policy for 2020 onwards, NORDEN targets annual dividends based on a payout ratio of minimum 50% of the annual adjusted net profit. For 2019, the Board of Directors proposes that a dividend

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