Dampskibsselskabet "NORDEN" A/S, Annual Report for 2006 and Expectations for 2007

Attached please find below text and the annual report for 2006 as two separate
PDF files. 



Dampskibsselskabet ”NORDEN” A/S
_______________________________________________________________________________

Copenhagen Stock Exchange 			Announcement no. 6
Nikolaj Plads 6 				27 March 2007
DK-1067 København K 			Page 1 of 1



Annual Report for 2006 and Expectations for 2007

The Board of Directors of D/S ”NORDEN” A/S has today approved the annual report
for 2006. The report follows in full in attached PDF file and presents the
following highlights: 

The profit for the year after tax amounted to USD 177 million (DKK 1,050
million), against the previously reported estimate of USD 170-190 million. 

The return on average equity was 27% (71% in 2005).

EBITDA was USD 166 million (USD 216 million).

The theoretical Net Asset Value (NAV) per share (including charter parties with
purchase option calculated according to a Black 76 model) was DKK 6,098 (DKK
4,059) at year-end. Please note that the calculation of theoretical value is
subject to significant uncertainty. 

The Board of Directors propose an ordinary dividend of DKK 100 per share,
corresponding to a 23% payout ratio for the year. 

Expectations for 2007

NORDEN has, to a large extent, secured employment at high freight rates -
particularly in the dry cargo segment. 

In 2007, NORDEN expects an EBITDA of USD 290-320 million.

NORDEN expects a profit for the year after tax in the region of USD 380-410
million, including realised profits from the sale of vessels of USD 95 million
and a positive fair value adjustment of certain hedging instruments of USD 2
million. 

The Management of NORDEN will today, 27 March 2007, present the annual report
and the  expectations for 2007 at an information meeting at 11:00 hours CET at
the head office, Amaliegade 49. Furthermore, a telephone conference will be
held at 16:00 hours CET. The presentation can also be followed via the
telephone conference and webcast at the Company's website (www.ds-norden.com).
Those wishing to participate in the telephone conference from Denmark should
call +45 70 26 50 40 no later than 15:55 hours CET, while those wishing to
participate from abroad should call +44 207 769 
6433 no later than 15:55 hours CET.


                         Yours sincerely
                 Dampskibsselskabet ”NORDEN” A/S


	Mogens Hugo Jørgensen 	Carsten Mortensen
	Chairman 			President & CEO


Contacts at tel. +45 33 15 04 51: Carsten Mortensen, CEO, and Jens 
Fehrn-Christensen, CFO. 
_______________________________________________________________________________

                 Dampskibsselskabet ”NORDEN” A/S
                          Amaliegade 49
                        1256 KØBENHAVN K
                        www.ds-norden.com