Q4 2025 Dampskibsselskabet Norden A/S Earnings Call Transcript

Feb 4, 2026 / 09:30 AM GMT

Release Date Price: kr253.9 (-12.02%)

Transcript

Key Points

Positve

Dampskibsselskabet Norden AS (DPBSF) delivered a full-year profit of $120 million, which was significantly better than the initial guidance for 2025.
The company is returning a significant portion of its annual profit to shareholders through dividends and a share buyback program.
Dampskibsselskabet Norden AS (DPBSF) successfully executed 48 asset transactions in 2025, including the sale of 23 ships and the addition of 25 new leases.
The company has a strong financial position with very little leverage on the balance sheet.
Dampskibsselskabet Norden AS (DPBSF) has a diversified business model with multiple segments, which helps generate superior returns over time.

Negative

The net asset value (NAV) per share declined by about 11% due to a weaker US dollar.
The dry cargo and tanker segments experienced losses, although they showed improvement compared to 2024.
The company's earnings have been more volatile than industry peers, which they aim to address in their strategy.
The guidance for 2026 is lower than the 2025 profit, with expected net profit ranging from $30 million to $100 million.
There is uncertainty in the volume and margins of new activities, as well as exposure to the spot market with significant open days in tankers and dry cargo.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

DNORD.CO - Dampskibsselskabet Norden A/S
Q4 2025 Dampskibsselskabet Norden A/S Earnings Call
Feb 04, 2026 / 09:30AM GMT

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Presentation
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This webcast with a presentation of the annual report of 2025 from the one that was published this morning. In the first part of the presentation, you'll be in a listen-only mode, which will be followed by a Q&A session.

During the Q&A session, if you have dialed in by phone, you'll be able to ask questions verbally by pressing pound or hashtag followed by 5 on your phone's keypad. If you're watching this webcast online through a browser, you can ask your written questions in the chat below. Those questions will not be published, but the operator will read them aloud. With that, I'll hand over to CEO Jan Renbo and CFO Martin Belsel from now on, please go ahead.

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