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Investing.com -- Danish shipping company NORDEN on Thursday reported a net profit of USD 26 million (DKK 166 million) for the third quarter of 2025, primarily driven by strong performance in its Asset Management division.
The quarterly results contributed to a total net profit of USD 111 million for the first nine months of 2025, with USD 43 million coming from operating earnings and USD 68 million from vessel sales gains.
NORDEN’s net asset value (NAV) increased to DKK 362 per share, reflecting higher forward rates and asset values in the shipping market.
The company has sold 22 vessels in the first nine months of 2025, with 15 of these sales coming from declared purchase options. Additionally, NORDEN purchased one vessel and signed 22 new lease agreements with purchase options during the same period.
The company recently raised its full-year 2025 guidance on October 28, now expecting a net profit range of USD 100-140 million, up from the previous USD 70-130 million forecast. This updated guidance includes USD 73 million in gains from vessel sales.
"A strong quarterly increase in asset values drove NAV to DKK 362 per share, highlighting our significant potential in dynamic asset markets," said NORDEN CEO Jan Rindbo.
NORDEN plans to distribute USD 20 million to shareholders for the third quarter through a dividend of DKK 2 per share and a new share buy-back program of USD 10 million, representing 77% of the quarterly result.
The dividend will be paid to shareholders registered in VP Securities on November 3, 2025, after the close of trading on Nasdaq Copenhagen.
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