Dampskibsselskabet Norden A/S

DNORD

Equity

ISIN DK0060083210 / Valor 3082933

Nasdaq Copenhagen Equities (2025-04-04)

DKK 156.10-6.64%

Dampskibsselskabet Norden A/S
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About company

Dampskibsselskabet Norden A/S, commonly known as NORDEN, is a prominent Denmark-based shipping company that specializes in providing ocean-based freight services. Established in 1871, it stands as one of Denmark's oldest shipping companies with international operations. NORDEN offers a broad range of services including the transportation of bulk and project cargo of various sizes, integrating freight solutions with port logistics to optimize and streamline supply chains for its customers. The company prides itself on offering tailored solutions that emphasize flexibility, reliability, and intelligence, adapting its fleet continuously to meet market developments and customer needs. NORDEN operates on a global scale, with 14 offices spread across six continents, and manages a fleet of 542 vessels. It is listed on Nasdaq Copenhagen and is part of the OMX Nordic Large Cap index, reflecting its significant role in global trade and the shipping industry.

Summarized from source with an LLMView SourceSector: Consumer Services

Net Profit

Dampskibsselskabet Norden A/S reported a net profit of USD 25 million for the third quarter of 2024, a significant decrease from USD 99 million in the same quarter of the previous year. This decline was primarily due to weaker market conditions in both the dry cargo and tanker segments.

Revenue and EBITDA

The company's revenue for the third quarter of 2024 increased by 17% year-over-year to USD 684 million, driven by higher activity levels. However, EBITDA decreased by 35% to USD 115 million, reflecting a margin of 11% compared to 20% in the previous year.

Vessel Sales and Guidance

Dampskibsselskabet Norden A/S optimized its vessel portfolio by agreeing to sell five vessels, with expected future gains of USD 25 million. The company has narrowed its full-year net profit guidance for 2024 to USD 160-210 million, citing weaker tanker spot rates as a contributing factor.

Cash Flow and Capital Structure

Cash flow from operating activities was USD 136 million in the third quarter of 2024, down from USD 199 million in the same period last year. The decrease was attributed to lower earnings and an increase in net working capital. Free cash flow was negative at USD -61 million, compared to USD 96 million in the previous year.

Dividends and Share Buy-Back

In line with its pay-out policy, Dampskibsselskabet Norden A/S's Board decided to return USD 21 million to shareholders through an interim dividend of DKK 2 per share and a new share buy-back program of USD 12 million, which will run until the end of January 2025.

Summarized from source with an LLMView Source

Key figures

-45.9%1Y

-33.9%3Y

98.3%5Y

Performance

34.8%1Y

47.0%3Y

45.7%5Y

Volatility