Norden had a bad Q3 16 due to the deterioration of the results in the Tankers division. Q3 16 figures: Revenue decreased to $314m (-21%) due to the dry cargo and tankers businesses (respectively -20% and -27%). EBITDA plunged to $4.1m (vs $41.5m in Q3 15). This was due to the collapse of the contribution from the Tankers division to $6m (vs $41.9m in Q3 15) while the Dry cargo division remained negative at $-1.9m (vs $-0.4m in Q3 15). EBIT turned negative to $-12.9m (vs $20.9m in Q3 15) after
09 Nov 2016
Affected this time by the tankers market
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Affected this time by the tankers market
D/S Norden A/S (DNORD:CSE) | 0 0 2.3% | Mkt Cap: 4,970m
- Published:
09 Nov 2016 -
Author:
Hélène Coumes -
Pages:
3
Norden had a bad Q3 16 due to the deterioration of the results in the Tankers division. Q3 16 figures: Revenue decreased to $314m (-21%) due to the dry cargo and tankers businesses (respectively -20% and -27%). EBITDA plunged to $4.1m (vs $41.5m in Q3 15). This was due to the collapse of the contribution from the Tankers division to $6m (vs $41.9m in Q3 15) while the Dry cargo division remained negative at $-1.9m (vs $-0.4m in Q3 15). EBIT turned negative to $-12.9m (vs $20.9m in Q3 15) after