Danish shipping company Norden has reported a net profit of $26 million for the third quarter of 2025. Following this result, the company has maintained its upgraded full-year 2025 net profit guidance, which was raised on October 28 to a range of $100 million to $140 million.
The company's third-quarter profit was primarily driven by its asset management division, which delivered another strong quarter supported by solid operating earnings and vessel sales.
For the first nine months of 2025, the group's net profit amounted to $111 million, which was comprised of $43 million from combined operating earnings and $68 million from vessel sales gains.
As part of its strategy to realise high portfolio values, Norden has sold 22 vessels year-to-date, with fifteen of those sales coming from declared purchase options.
During the same period, the company purchased one vessel and signed 22 new lease agreements that include purchase options. The company's net asset value (NAV) strengthened to DKK362 ($56) per share.
Jan Rindbo, CEO of Norden, commented, “A strong quarterly increase in asset values drove NAV to DKK362 per share, highlighting our significant potential in dynamic asset markets. As a result of the better-than-expected operational performance and rising markets, we raised our full-year net profit guidance on October 28 to $100-140 million.”
The company has proposed to distribute $20 million to shareholders for the third quarter, which includes a dividend of DKK2 per share and a new $10 million share buy-back programme.
