D/S Norden continues to amaze with its performance in 2007. In 2007, the profit was so high that the company’s board and management has decided that every Norden employee will be awarded three months’ extra pay on average as a bonus for their work in 2007. The extra payment will be paid to office employees but also to Filipino sailors on Norden’s vessels. A total of DKK 18.6 million will be used for bonuses. “Every one is part of the success and therefore every one will be given a bonus”, says Carsten Mortensen, CEO of Norden.
Norden’s figures are the best ever in the company’s history. Revenue for 2007 was USD 2.93 billion (USD 1.23 billion in 2006). The profit rose 298 per cent to USD 703 million (USD 177 million in 2006) equal to DKK 3.83 billion. The profit came mainly from the dry cargo division, which generated USD 497 million, while the tanker division generated USD 53 million. For the first time, the number of vessels in the portfolio exceeded 300 units of which 216 are in service and the rest are on order. D/S Norden still has a strong belief in the future as it already has a coverage of 88 per cent of its dry cargo vessel in 2008 plus a coverage of 42 per cent in 2009. The company also has 31 per cent coverage of its tankers in 2008 and 11 per cent in 2009.
Norden’s figures are the best ever in the company’s history. Revenue for 2007 was USD 2.93 billion (USD 1.23 billion in 2006). The profit rose 298 per cent to USD 703 million (USD 177 million in 2006) equal to DKK 3.83 billion. The profit came mainly from the dry cargo division, which generated USD 497 million, while the tanker division generated USD 53 million. For the first time, the number of vessels in the portfolio exceeded 300 units of which 216 are in service and the rest are on order. D/S Norden still has a strong belief in the future as it already has a coverage of 88 per cent of its dry cargo vessel in 2008 plus a coverage of 42 per cent in 2009. The company also has 31 per cent coverage of its tankers in 2008 and 11 per cent in 2009.
