Dampskibsselskabet Ord (DPBSF) Q1 2025 Earnings Call

Investor webinar replay

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WEBVTT 00:00:01.583 -- 00:00:06.287 Hello and welcome to the Norden Q1 2025 Analyst and Investor Conference Call. 00:00:06.287 -- 00:00:09.089 My name is Harry and I'll be your operator today. 00:00:09.089 -- 00:00:12.512 All lines are currently in listen-only mode and there will be an opportunity for Q&A 00:00:12.512 -- 00:00:16.416 after management's prepared remarks. If you would like to enter the queue for questions, 00:00:16.416 -- 00:00:19.799 please dial star followed by one on your telephone keypad. 00:00:19.799 -- 00:00:24.042 Alternatively, you can submit written questions using the Q&A function on the right-hand 00:00:24.042 -- 00:00:28.826 side of your webcast screen. I would now like to hand the conference over to Norden CEO, 00:00:28.826 -- 00:00:32.648 Jan Rymbo. Thank you. Please go ahead. 00:00:33.865 -- 00:00:38.790 Thank you very much. Let me start by pointing out some of the highlights from the first 00:00:38.790 -- 00:00:41.152 quarter of 2025. 00:00:41.152 -- 00:00:46.317 We delivered a group net profit of $33 million and a return on invested 00:00:46.317 -- 00:00:51.421 capital of 11%, and that was driven primarily by good coverage in 00:00:51.421 -- 00:00:56.546 weaker markets. We've also seen improved financial performance that was driven by 00:00:56.546 -- 00:01:03.010 a margin recovery in the dry operator segment in freight services and trading. 00:01:03.228 -- 00:01:08.597 Last week, I upgraded the four-year net profit guidance to a range of $50 00:01:08.597 -- 00:01:13.606 to $130 million. NAV at the end of the quarter stood 00:01:13.606 -- 00:01:16.250 at Danish kroner 372 00:01:16.250 -- 00:01:21.379 per share, and we are focusing on realizing net asset values 00:01:21.379 -- 00:01:26.407 by selling nine vessels in the quarter, and out ...