Annual report 2019 and outlook for 2020

Some highlights: 

Adjusted Result for the year* 2019: USD 23 million (2018: USD 20 million)
▪ Dry Operator: USD 8 million (USD 30 million)
▪ Dry Owner: USD 2 million (USD 18 million)
▪ Tankers: USD 13 million (USD -28 million)

EBIT 2019: USD 57 million (USD 39 million)

* ”Profit/loss for the period” adjusted for “Profit from sale of vessels etc.”

Outlook for 2020: Despite challenging markets and an uncertain outlook due to the outbreak of the COVID-19 virus, NORDEN expects to deliver improved earnings with an expected Adjusted Result for 2020 in the range of USD 30 to 70 million.

CEO Jan Rindbo says: 

“With the best quarterly result in almost five years, NORDEN finished the year with a strong performance in the fourth quarter delivering a USD 23 million profit for 2019. Despite challenging markets and an uncertain outlook for the global economy, NORDEN expects to deliver improved earnings with an expected Adjusted Result for 2020 in the range of USD 30 to 70 million.”

NORDEN presents its full-year 2019 in a film with English speak and subtitles: