Last €0.07 EUR
Change Today -0.039 / -35.78%
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As of 2:22 AM 07/28/14 All times are local (Market data is delayed by at least 15 minutes).

torm a/s (D8D) Snapshot

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08/5/13 - €0.39
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torm a/s (D8D) Details

TORM A/S, a shipping company, together with its subsidiaries, owns and operates product tankers and dry bulk carriers worldwide. It operates in two segments, Tanker and Bulk. The Tanker segment transports refined oil products, such as gasoline, jet fuel, naphtha, and diesel oil. As of December 31, 2013, this segment owned a fleet of 60 product tankers. The Bulk segment transports dry cargo covering commodities, including coal, grain, iron ore, etc. through a fleet of approximately 10 vessels. The company was founded in 1889 and is based in Hellerup, Denmark.

428 Employees
Last Reported Date: 03/5/14
Founded in 1889

torm a/s (D8D) Top Compensated Officers

Chief Executive Officer
Total Annual Compensation: $929.0K
Compensation as of Fiscal Year 2012.

torm a/s (D8D) Key Developments

TORM A/S Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Provides Earnings Guidance for 2014; Announces Impairment Charges

TORM A/S announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported revenue of USD 182.9 million against USD 278.2 million a year ago. EBITDA was USD 20.5 million against USD 35.8 million a year ago. Operating loss was USD 203.1 million against operating profit of USD 4.0 million a year ago. Net loss for the period was USD 222.6 million against USD 16.3 million a year ago. Diluted loss per share was USD 0.3 against USD 0.0 a year ago. Net cash flow from operating activities was USD 9.8 million against USD 10.7 million a year ago. Investment in tangible fixed assets was USD 12.1 million against USD 8.9 million a year ago. Net interest-bearing debt amounted to USD 1,662 million as at March 31, 2014. For the full year 2014, the adjusts the forecasts for a positive EBITDA of USD 70 million to USD 100 million and a loss before tax of USD 260 million to USD 290 million. As at March 31, 2014, 12,594 earning days for 2014 were unfixed, meaning that a change in freight rates of USD/day 1,000 will impact the forecasts by USD 13 million. The forecasts are before any potential further vessel sales or impairment charges. The company expects to be operational cash flow positive after full interest payments. For the quarter, the company announced impairment losses on tangible and intangible assets of USD 195.0 million.

TORM A/S, Q1 2014 Earnings Call, May 14, 2014

TORM A/S, Q1 2014 Earnings Call, May 14, 2014

Torm A/S Proposes Insertion of a New Article to its Articles of Association

TORM A/S announced that at its AGM to be held on April 3, 2014 the Board of Directors will propose that the Annual Report 2013 and future annual reports shall be prepared in English only. The proposal entails that the following provision is inserted as a new Article 16.2 of the Articles of Association: 'The company's Annual Report is prepared in English only. The Board of Directors may decide that the Annual Report is to be prepared in Danish as well'.


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