Dampskibsselskabet Norden AS (LTS:0HDP)
kr 210.6 -0.4 (-0.19%) Market Cap: 6.41 Bil Enterprise Value: 9.69 Bil PE Ratio: 4.93 PB Ratio: 0.77 GF Score: 73/100
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Q2 2024 Dampskibsselskabet Norden A/S Earnings Call Transcript

Aug 08, 2024 / 01:00PM GMT
Release Date Price: kr274.4 (-2.00%)
Operator

It seems that we are reconnected and I hand over the word to Jan Rindbo who will take us with the first slide.

Jan Rindbo;S;Chief Executive Officer
Dampskibsselskabet Norden A;Member of the Executive Management

/- -

Thank you very much. Let me start with the business highlights. We had a second quarter performance in line with expectations in market conditions that were closely linked to geopolitical events, especially around the Red Sea situation.

The financial results were impacted by the temporarily lower margins in the dry cargo activities in freight services and trading, while positive earnings and cash flow generated from tanker activities and coverage in assets and logistics added positively to the results.

We continue to see a very positive structurally asset market where we have a low order book, limited available shipyard capacity and an aging global fleet. And Norden is strongly positioned towards this with the investments that we have made in own vessels and an extensive declarable

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