TRMD.OQ on NASDAQ Stock Exchange Global Select Market

20 Apr 2018
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$1.08 (+15.43%)
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Latest Key Developments (Source: Significant Developments)

Torm Q2 EBITDA $56.6 million
Tuesday, 16 Aug 2016 

Torm Plc : Q2 EBITDA $56.6 million versus pro forma $75.3 million year ago . Q2 pre-tax profit $15.2 million versus pro forma $45.2 million year ago . For 2016 has changed EBITDA interval to positive range of $210 million - $250 million from $250 million - $330 million, profit before tax range to $50 million - $90 million from $100 million - $180 million . During Q2, product tanker freight rates remained at profitable levels, however at a softer level compared to same period in 2015 .Says in general, refinery utilization was high although at a lower level compared to Q1 of 2016, due to maintenance and high gasoline and diesel stocks globally.  Full Article

Torm: Mads Peter Zacho resigns as CFO
Tuesday, 24 May 2016 

Torm Plc : Torm's Chief Financial Offer Mads Peter Zacho has resigned to become Chief Executive Officer at J. Lauritzen A/S . Zacho will remain with the Company for a transitional period to effect an orderly handover of his responsibilities . Senior Vice President Christian Søgaard-Christensen has been named as acting CFO .The Board of Directors has initiated an executive search for a new permanent CFO for TORM.  Full Article

Torm announces new distribution policy
Thursday, 12 May 2016 

Torm PLC : Torm announces new distribution policy . Distribution policy opens for dividends and/or share repurchases . Anticipates having one fixed distribution in September 2016 of $25.0 million . Intends to semi-annually distribute 25 percent to 50 percent of net income . Will also consider share repurchases . Says has authorization to acquire treasury A shares equivalent to total of 10 percent of company's share capital .During may 2016, Torm will acquire up to 4.1 percent of A shares in Torm A/S.  Full Article

Torm Q1 pre-tax profit up at $31.2 million
Thursday, 12 May 2016 

Torm Plc : Q1 EBITDA $69.5 million versus $24.4 million year ago . Q1 pre-tax profit $31.2 million versus $15.1 million year ago . Q1 revenue $193.7 million versus $67.2 million year ago . Guidance is unchanged compared to previously issued guidance . Expects 2016 EBITDA in range of $250 million - $330 million .Sees 2016 profit before tax in range of $100 million - $180 million.  Full Article

No consensus analysis data available.