Q4 2020 Dampskibsselskabet Norden A/S Pre-Recorded Earnings Presentation Transcript
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During a very unusual and challenging year, Norden managed to generate an outstanding result of $106 million, based on record high activity levels. This result is the best group result in 10 years. The strong performance led to an improved return on equity of 10%, and further strengthen Norden's financial position where the company has a net positive cash position after deducting bank debt.
For Q4, we reached another great result, amounting to $21 million during the quarter. 2020 was a year marked by volatility and uncertainty in both dry and tanker markets. Yet, this volatility has actually helped prove the resilience and potential of Norden's business model, which is reflected in the positive results across all 3 business units despite the challenging markets.
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