Annual Report 2017 and Expectations for 2018

06 Mar 2018

Annual Report for 2017

• Adjusted result for the year* 2017: USD 28 million (2016: USD -35 million). Dry Cargo: USD 14 million (USD -52 million). Tankers: USD 14 million (USD 17 million). Group EBIT 2017: USD 23 million (USD -65 million)

Expectations for 2018

• Expected adjusted results for 2018 for the group: USD 10 to 50 million based on a continued gradual improvement in the dry cargo market and a tanker market that after a weak start to the year is expected to improve slightly.

CEO Jan Rindbo in comment: ”“Based on a strong performance in the fourth quarter, NORDEN delivered the first positive result in 5 years. With a new, agile business unit in the form of Dry Operator, a substantial cyclical exposure in both Dry Owner and Tankers and a skilled organisation with a winning mentality, NORDEN is well-positioned to 2018. On that basis, we expect an adjusted result for the year of USD 10 to 50 million.”

Full report  

NORDEN press release