Q2 2020 Dampskibsselskabet Norden A/S Pre-Recorded Earnings Presentation Transcript

Aug 19, 2020 / 07:00AM GMT

Release Date Price: kr100.1 (+0.15%)

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 second quarter of 2020. This means we realized a first half result of $58 million. NORDEN thereby delivers the strongest second quarter result since 2015 in a continued challenging environment. And furthermore, NORDEN raises guidance for the full year results.

Looking at business units, Asset Management delivered an adjusted result of $11 million for the quarter. Asset Management has profited significantly from shifting exposure from Dry Cargo to Tankers during the past 2 years, in line with our strategy of asset trading and Asset Management of our cyclical market exposure. With Dry Cargo asset values declining further in the second quarter, we now believe

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