NORDEN revises expectations for full-year result
ANNOUNCEMENT NO. 15 - 24 OCTOBER 2019 NORDEN lowers its expectations for the Adjusted Result* for the year to USD 10 to 45 million, down from USD 25 to 60 million. The adjustment of guidance is mainly related to a calculation error, which has been uncovered in relation to the updating of estimates in preparation for the Q3 report. The error, which impacted the estimate by around USD 15 million, was related to IFRS16 related adjustments to the expected contribution margin in the Tanker segment. It has no impact on actual reported results. Dry OperatorOn the back of a preliminary