Norden Q2 2025 Earnings Call Transcript: Net Profit at $52mln, Return on Invested Capital at 10%

Norden A/S reported Q2 2025 net profit of $52 million and a return on invested capital of 10%. The company raised its full-year guidance to between $70 million and $130 million. Net asset value (NAV) was DKK 337, and 38 transactions were completed year-to-date, with 20 vessels sold and new lease agreements with purchase options.

Despite challenging market conditions, Norden A/S delivered a robust performance in the second quarter of 2025, reporting a net profit of USD 52 million and a return on invested capital of 10% [1]. The company's strategic asset management and focus on green initiatives have contributed to its financial resilience. Norden A/S also raised its full-year net profit guidance to between USD 70 million and USD 130 million, reflecting a significant increase from its previous estimate of USD 50 million to USD 130 million [1].

The company's net asset value (NAV) stood at DKK 337 per share at the end of the second quarter. Norden A/S has been proactive in optimizing its fleet portfolio, with 38 transactions completed year-to-date, including the sale of 20 vessels and the signing of 18 new lease agreements with purchase options [1]. These transactions align with the company's strategy to realize high portfolio values and ensure future growth opportunities.

Norden A/S CEO, Jan Rindbo, commented on the company's performance, stating, "In Q2 2025, Norden generated a net profit of USD 52 million and a ROIC of 10%, driven by profitable contract cover and sales gains in weaker spot markets. Having year-to-date sold 20 vessels and added 18 vessels through new leasing agreements with purchase options, we are realizing significant asset values while optimizing our fleet portfolio with the most fuel-efficient vessels available in the market today" [1].

The company also proposed to distribute USD 20 million to shareholders for the second quarter through a dividend of DKK 2 per share and a new share buy-back program of USD 10 million, corresponding to 38% of the result for the second quarter [1]. The dividend will be paid through VP Securities based on shareholdings registered in VP Securities on 18 August 2025 after close of trading on Nasdaq Copenhagen [1].

References:

[1] https://www.prnewswire.com/news-releases/norden-reports-net-profit-of-usd-52-million-dkk-342-million-in-q2-2025-302529876.html