Denmark · Delayed Price · Currency is DKK Dampskibsselskabet Norden Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw $11M net profit, strong cash flow, and an 11% NAV increase, with strategic fleet shifts toward smaller vessels and high tanker coverage. Guidance was raised, but dry cargo faced losses from Middle East disruptions, while tankers benefited from high spot rates.
Fiscal Year 2025
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Reported $120 million net profit for 2025, with strong asset management and shareholder returns. 2026 guidance is $30–$100 million, reflecting open market exposure and only known vessel sales, while strategy focuses on reducing earnings volatility and expanding stable segments.
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Q3 net profit reached $26 million, with NAV up 7% and full-year guidance raised to $100–$140 million. Asset management and vessel sales drove results, while market fundamentals remain strong into 2026 despite ongoing geopolitical uncertainties.
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Q2 net profit reached $52M with a 10% ROIC, driven by asset sales and resilient contract cover. Full-year profit guidance was raised to $70M–$130M, despite challenging markets and negative margins in Freight Services & Trading.
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Q1 2025 saw $33M net profit and 11% ROIC, with upgraded full-year guidance to $50–130M driven by vessel sales and margin recovery. Capital returns include dividends and buybacks, while the business remains well-positioned for weak markets and long-term opportunities.
Fiscal Year 2024
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Net profit reached $163 million in 2024 with a 14% ROIC, driven by vessel sales and strong asset performance. 2025 guidance is $20–100 million amid market volatility, with continued capital returns and strategic positioning for both dry cargo and tankers.
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Q3 2024 saw a $25M net profit, with strong Assets & Logistics offsetting weak tanker markets. Full-year profit guidance narrowed to $160M–$200M, reflecting ongoing tanker volatility and gains from vessel sales.
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Q2 net profit reached $46M with strong returns from Assets and Logistics, offsetting losses in Freight Services and Trading. Full-year profit guidance was narrowed to $160M–$240M, with gradual margin improvement expected and continued strategic growth through acquisitions.