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Dampskibsselskabet ”NORDEN” A/S
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OMX Nordic Exchange Copenhagen A/S Announcement no. 9
Nikolaj Plads 6 14 March 2008
1067 Copenhagen K Page 1 of 1
NORDEN sells 2 vessels and increases profit guidance
The Group has agreed to sell the Panamax bulkcarrier NORD LUNA and the Handymax
bulkcarrier NORD WAVE. The gross sales price amounts to a total of USD 144
million, each vessel at approximately USD 72 million. The total gross profit
amounts to USD 85 million.
NORD LUNA, 73,362 dwt, was built in 2000, and NORD WAVE, 53,489 dwt, was built
in 2005. It is expected that both vessels will be delivered to the new owners
during the second quarter of 2008.
Above sales will strengthen the Group's earnings (EBIT) in 2008 by USD 75
million.
NORDEN's expectations for 2008 are hereafter revised upwards to a Group EBIT in
the range of USD 835-915 million, including profits from the sale of vessels of
USD 212 million.
For this reason, NORDEN's adjusted expectations for the profit after tax for
2008 are in the range of USD 825-905 million, including 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
