Dampskibsselskabet Norden A/S (OTCPK:DPBSF) Q3 2025 Earnings Call October 30, 2025 5:00 AM EDT
Company Participants
Jan Rindbo – Chief Executive Officer
Martin Badsted – Chief Financial Officer
Presentation
Operator
Good morning, and welcome, everyone, to this webcast for the presentation of the Q3 2025 report from NORDEN that was published this morning. [Operator Instructions].
With that, I’ll hand over to CEO, Jan Rindbo; and CFO, Martin Badsted, from Norden. Please go ahead.
Jan Rindbo
Chief Executive Officer
Thank you very much, and also a warm welcome from my side to this Q3 presentation of our results. Let’s dive into the numbers. And in the third quarter, we delivered a net profit of $26 million. This was driven by asset management and vessel sales as we continue to realize values from our fleet portfolio. And what is also evident here is that with a rising market and rising asset values, we’ve seen our NAV increase by 7% in the quarter.
With better-than-expected performance and also this rising market, we have raised our full year guidance on the 28th of October to a range now of between $100 million to $140 million. We have also had a busy year so far with 45 asset transactions. So this is one of the hallmarks of NORDEN, where we are actively using the asset markets to optimize our fleet portfolio.
With that, I will hand you over to Martin Badsted to take a closer look at some of our numbers.
Martin Badsted
Chief Financial Officer
Thank you very much, Jan. So looking first into the NAV, where, as Jan said, the NAV increased 7% since the end of June to now DKK 362 per share. You will see that from the table, 2/3 of our NAV or the fleet value at least is in dry cargo, whereas the last part is in tankers
Read the full article here