Dampskibsselskabet "NORDEN" A/S, NORDEN sells vessel and increases profit guidance
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Dampskibsselskabet ”NORDEN” A/S
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OMX Nordic Exchange Copenhagen A/S Announcement no. 18
Nikolaj Plads 6 17 April 2008
1067 Copenhagen K Page 1 of 1
NORDEN sells vessel and increases profit guidance
The Group has agreed to sell the Handymax bulkcarrier NORD FIGHTER.
The gross sales price amounts to USD 72.75 million.
NORD FIGHTER, 52,000 dwt, was built in 2004 and is expected to be delivered to
the new owner during the third quarter of 2008, when the profit from the sale
of approximately USD 53 million after tax will be recognised.
In the beginning of April, the Company had an active fleet of 212 vessels, with
90 more vessels due for future delivery.
After offsetting budgeted operating profit from the vessel, the sale will
strengthen the Group's earnings (EBIT) in 2008 by approximately USD 47 million.
NORDEN's expectations for 2008 are hereafter revised upwards to a Group EBIT in
the range of USD 880-960 million, including profits from the sale of vessels of
USD 265 million.
For this reason, NORDEN's adjusted expectations for the profit after tax for
2008 are in the range of USD 870-950 million, including a negative fair
value adjustment of certain hedging instruments of USD 21 million.
Kind regards,
Dampskibsselskabet ”NORDEN” A/S
Carsten Mortensen
President & CEO
Contact at tel. +45 3315 0451:
Carsten Mortensen, President & CEO.
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Dampskibsselskabet ”NORDEN” A/S
49, Amaliegade
DK-1256 COPENHAGEN K
www.ds-norden.com
