Trasporti
NORDEN reports annual result of USD 400 million for 2023 and continues to return cash to shareholders
Free cashflow for the full-year 2023 amounted to USD 264 million (approx. DKK 1,822 million ) and with a positive free cashflow of USD 30 million ( DKK 207 million ) for the fourth quarter of 2023.
Return on invested capital was 32% for the full-year 2023 and was 14% for fourth quarter of 2023.
For the full-year 2024 NORDEN expects a net profit in the range of USD 150 -250 million (approx. DKK 1,035 -1,725 million), based on a high earnings coverage in Assets & Logistics and expected lower margins in Freight Services & Trading compared to 2023, especially into the first half of the year.
The Board of Directors has reviewed the Company's capital structure and proposed a final dividend of DKK 10 per share, bringing the total dividend for the full-year 2023 to DKK 45 per share or a pay-out ratio of 53%, in line with NORDEN's dividend policy of returning a minimum of 50% of the annual net profit.
Starting 9 February, NORDEN initiates a new share buy-back programme of USD 15 million . For details, please see separate announcement.
Kind regards,
Dampskibsselskabet NORDEN A/S
Klaus Nyborg
Chair
Stig Frederiksen , Head of Investor Relations, tel.: +45 32 71 08 55, e-mail: sfr@norden.com
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