Q1 2021 Dampskibsselskabet Norden A/S Pre-Recorded Earnings Presentation Transcript

May 06, 2021 / NTS GMT

Release Date Price: kr170.25 (-3.27%)

Transcript

Jan Rindbo;S;CEO

Dampskibsselskabet Norden A

/-

During a quarter that was heavily focused on building value for the rest of the year, NORDEN realized an adjusted result of minus $6 million. However, Q1 was actually a great quarter for NORDEN, and the results should be seen in light of the substantial value built during the quarter, which NORDEN will benefit from during the rest of the year. NORDEN is benefiting from soaring dry cargo market, which is reflected in a significant increase in the value of the owned and leased fleet while expectations for the full year results are revised up again.

This value creation more than offsets weak tanker markets, and NORDEN expects its quarterly earnings from Q2 onwards to be significantly higher compared to Q1. This quarter is a good example that NORDEN's value creation should always be viewed over a longer

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