Dampskibsselskabet Norden A/S (OTCPK:DPBSF) Q2 2025 Earnings Conference Call August 14, 2025 3:30 AM ET
Company Participants
Jan Rindbo – Chief Executive Officer
Martin Badsted – Chief Financial Officer
Conference Call Participants
Operator
Good morning, and welcome, everyone, to this webcast with a presentation of the Q2 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.
Martin Badsted
Thank you very much, and also a warm welcome here from my side, and thanks for joining us on this presentation of our Q2 results. So let me just start by sharing some of our group highlights. So we have, in the second quarter, delivered a group net profit of $52 million and a return on invested capital of 10%, and this is driven by sales gains combined with profitable contract cover in what has been weaker markets.
And these weaker markets have been challenging for ship operators, but we’ve, at the same time, seen pretty resilient asset prices that has been favorable for ship owners, and that is also reflected in the diverging results for our 2 business units. We have raised the lower end of our full year guidance, and we are now guiding for a full year profit of between $70 million up to $130 million.
The NAV has been pretty stable when you correct for exchange rates, and we are now reporting an NAV of DKK 337 here at the end of the second quarter. In the second quarter, we have been extremely active also continuing all the asset transactions that we’ve done. And year-to-date, we have now had 38 transactions. We have sold 20 vessels, realizing a lot of value in the portfolio, but at the same time, also taking in new lease agreements with purchase
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