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Dampskibsselskabet ”NORDEN” A/S
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OMX Nordic Exchange Copenhagen A/S Announcement No. 36
Nikolaj Plads 6 4 October 2007
1067 Copenhagen K Page 1 of 1
NORDEN sells 2 product tankers and increases profit guidance
The Company has agreed to sell 2 product tankers. The vessels, which are 3 and
4 years old, respectively, are acquired from Japanese interests upon
utilisation of purchase options.
The total profit at EBIT level is approximately USD 50 million of which USD 25
will be recognised in the fourth quarter of 2007 and USD 25 million in 2008.
EBIT for 2007 in the Tanker Department is hereafter expected to be in the range
of USD 150-160 million and the Company's EBIT is expected to amount to USD
565-595 million.
As a result of this, The Company's adjusted expectations for the annual result
for 2007 will be USD 560-590 million including profit from the sale of vessels
of USD 165 million and positive fair value adjustments of certain hedging
instruments of USD 2 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
NORDEN sells 2 product tankers and increases profit guidance
| Source: Dampskibsselskabet NORDEN A/S
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