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Norden records boom in tanker business, dry bulk hurt by Gulf crisis

Norden reported a net profit of 11 million USD for Q1 2026; the tanker business delivered an EBIT of 47.3 million USD (+139%) while the dry bulk division posted an EBIT loss of 45 million USD due to ships trapped, rising bunker costs and repositioning. Seven chartered vessels remain stuck in the Persian Gulf, causing management costs of up to 30 million USD annualized. Operating cash flow was 172 million USD, net asset value rose to 422 DKK per share, and the stock approached its 52-week high. Norden raised its full-year net profit guidance to 70–140 million USD and aims to reduce earnings volatility through fleet repositioning and a stronger MPP/Handysize focus. » More on de.investing.com
Norden posts $120m profit, shares plunge after cautious outlook

Norden reported a 2025 net profit of $120 million and set the dividend at 2 DKK per share. Net asset value fell 11% to 379 DKK and the share price dropped 12.16% to 253.5 DKK after the announcement. For 2026 the company forecasts a net profit of $30–100 million, plans to shift toward less volatile segments and aims for a ROIC above 12%. Management emphasized returning capital to shareholders and cited risks such as geopolitical tensions, currency fluctuations and possible market volatility in the tanker business. » More on de.investing.com
NORDEN: profit fell 67% in Q4 2025 despite strong market rates

NORDEN reported a net profit of 10 million USD for Q4 2025 versus 30 million USD a year earlier, a decline of 67%, with EBIT and revenue also falling sharply. Tankers posted rising earnings, while the dry bulk segment made losses; operating cash flow fell to 60.2 million USD. The company sold 23 vessels, entered lease agreements with purchase options, and is shifting focus to MPP vessels and logistics activities. For 2026 NORDEN forecasts a conservative net profit of 30–100 million USD; the share price fell about 12% after the release and NAV dropped 11% to 379 DKK. » More on de.investing.com

Historical dividends Dividends

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In 2026, NORDEN has already paid 0,54€ in dividends. The last payout was in May.

Financials

In the last quarter, NORDEN had revenue of 902.16m€ and net profit of 86.82m€

(EUR)	Jun 2026	YoY
Revenue	+902.16m	36,29%
Gross profit	+83.12m	127,83%
Net profit	+86.82m	96,80%
EBITDA	+114.30m	105,99%

Fundamentals

Metric	Value
Market capitalization	+1.29b€
Number of shares	27.65m
52-week high/low	+50,22€ - +30,05€
Dividend yield	+1,71%
Dividends TTM	+0,80€
Beta	0,03
P/E ratio	+10,37
PEG ratio	+0,94
P/B ratio	+1,14
P/S ratio	+0,43

Company profile

Die Schifffahrtsgesellschaft Dampskibsselskabet NORDEN A/S besitzt und betreibt weltweit Trockenladungs- und Tankschiffe. Das Unternehmen ist in drei Segmenten tätig: Asset Management, Dry Operator und Tanker Operator. Das Segment Asset Management besitzt und verchartert langfristige Schiffskapazitäten und verchartert seine eigenen und langfristig gecharterten Kapazitäten an Trockenschifffahrtsunternehmen, Tankschifffahrtsunternehmen und Dritte. Das Segment Dry Operator befasst sich mit dem Transport von Massengütern wie Getreide, Kohle, Eisenerz und Zucker sowie mit kurzfristigen Trockenladungsaktivitäten. Das Segment Tanker Operator transportiert Heizöl oder raffinierte Ölprodukte. Das Unternehmen betreibt 92 Panamax-, 131 Supramax- und 103 Handysize-Schiffe sowie 85 MR- und 39 Handysize-Schiffe. Dampskibsselskabet NORDEN A/S wurde 1871 gegründet und hat seinen Hauptsitz in Hellerup, Dänemark.