Q1 2020 Dampskibsselskabet Norden A/S Pre-Recorded Earnings Presentation Transcript

May 05, 2020 / 07:00AM GMT

Release Date Price: kr96.6 (+2.88%)

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 $29 million for the first quarter of 2020. So despite the challenging environment and extreme market conditions, NORDEN has delivered the strongest first quarter result since 2015. The quarter saw profit from all 3 business units. And NORDEN raises its guidance to $30 million to $80 million for the full year.

Looking at our business units. Asset Management delivered a result of $7 million for the quarter. The business unit is now benefiting from the many actions taken during the last 2 years, where we have shifted market exposure towards Tankers while increasing our cover in Dry Cargo. The diversification benefit of operating in both Dry Cargo and Tankers is enabling active

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