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Torm Plc: 1 director

A director at Torm Plc bought 30,603 shares at 98.132DKK and the significance rating of the trade was 72/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly show...

ABGSC Shipping & Transport Research ... (+3)
  • ABGSC Shipping & Transport Research
  • Martin Mauseth
  • Petter Haugen
ABGSC Shipping & Transport Research ... (+3)
  • ABGSC Shipping & Transport Research
  • Martin Mauseth
  • Petter Haugen

Much as expected

Adj. EBITDA of USD 122m (-1% vs. ABGSCe, -7% vs cons.); FY'25 guidance in line, ~4% downside to cons Q1 EBITDA; Neutral share price reaction warranted.

ABGSC Shipping & Transport Research ... (+3)
  • ABGSC Shipping & Transport Research
  • Martin Mauseth
  • Petter Haugen
ABGSC Shipping & Transport Research ... (+4)
  • ABGSC Shipping & Transport Research
  • Martin Mauseth
  • Oliver Dunvold
  • Petter Haugen
ABGSC Shipping & Transport Research ... (+3)
  • ABGSC Shipping & Transport Research
  • Oliver Dunvold
  • Petter Haugen

Q3 miss and lowered FY'24 guidance

Adj. EBITDA of USD 180m (-7% vs. ABGSCe, -8% vs cons.), FY'24 guidance lowered, ~40% downside to cons Q4 EBITDA, Q3 below expectations, FY'24 guidance lowered.

ABGSC Shipping & Transport Research ... (+3)
  • ABGSC Shipping & Transport Research
  • Oliver Dunvold
  • Petter Haugen
ABGSC Shipping & Transport Research ... (+4)
  • ABGSC Shipping & Transport Research
  • Martin Mauseth
  • Oliver Dunvold
  • Petter Haugen

Solid rates ahead

Record-low fleet growth and winter is coming. ABGSC '25e EBITDA of USD 961m (+10% vs. consensus). TP of DKK 286 (297) – BUY.

ABGSC Shipping & Transport Research ... (+3)
  • ABGSC Shipping & Transport Research
  • Oliver Dunvold
  • Petter Haugen
ABGSC Shipping & Transport Research ... (+3)
  • ABGSC Shipping & Transport Research
  • Oliver Dunvold
  • Petter Haugen

Lift lower-end of FY guidance, but weaker in Q3e

Adj. EBITDA of USD 241m (-6% vs. ABGSCe, -5% vs cons.). FY'24 guidance narrowed, ~11% downside to cons Q3 EBITDA. Q2 below expectations, slightly better FY'24 guidance, share to down vs. peers.

ABGSC Shipping & Transport Research ... (+3)
  • ABGSC Shipping & Transport Research
  • Oliver Dunvold
  • Petter Haugen

Estimates up on more vessels

Long-term estimates up on more vessels. ABGSC '25e EBITDA of USD 1,146m (+44% vs. cons.). TP of DKK 310 (340) – BUY.

ABGSC Shipping & Transport Research ... (+3)
  • ABGSC Shipping & Transport Research
  • Oliver Dunvold
  • Petter Haugen

Stronger market, stronger guidance

Q2'24e up on solid guidance. ABGSC '25e EBITDA of USD 1,121m (+36% vs. consensus). TP of DKK 340 (310) – BUY.

ABGSC Shipping & Transport Research ... (+3)
  • ABGSC Shipping & Transport Research
  • Oliver Dunvold
  • Petter Haugen

Q1 slightly below expectations, but strong Q2'24 guidance

Adj. EBITDA of USD 250m (-3% vs. ABGSCe, -1% vs cons.). FY'24 guidance narrowed, ~29% upside to cons Q2 EBITDA. Q1 below expectations, strong Q2'24 guidance, share to trade up vs. peers.

ABGSC Shipping & Transport Research ... (+3)
  • ABGSC Shipping & Transport Research
  • Oliver Dunvold
  • Petter Haugen

Only minor adjustments ahead of Q1

Minor changes to estimates. ABGSC '25e EBITDA of USD 1,121m (+36% vs. cons.). TP of DKK 310 (314) – BUY

TORM receives a double requalification that leads to a downgrade to Ne...

TORM (DK), a company active in the Pipelines industry, sees its general evaluation downgraded to Neutral on account of a double requalification. The independent financial analyst theScreener just removed a fundamental star(s) for a 2 over 4-star rating. As such, market behaviour has also deteriorated and is evaluated as moderately risky. theScreener believes that the loss of a star(s) and the increased risk justifies the general evaluation downgrade, which passes to Neutral. As of the analysis d...

 PRESS RELEASE

Capital increase in TORM due to exercise of Restricted Share Units as ...

Capital increase in TORM due to exercise of Restricted Share Units as part of the Company’s incentive program TORM plc (“TORM”) increases its share capital by 19,494 A-shares (corresponding to a nominal value of USD 194.94) as a result of the exercise of a corresponding number of Restricted Share Units. The capital increase is carried out without any pre-emption rights for existing shareholders or others. All the 19,494 new shares have been subscribed for in cash at DKK 47.4 per A-share. All with a nominal value of USD 0.01 each. The new shares are ordinary shares without any spec...

 PRESS RELEASE

Capital increase in TORM due to exercise of Restricted Share Units as ...

Capital increase in TORM due to exercise of Restricted Share Units as part of the Company’s incentive program TORM plc (“TORM”) increases its share capital by 106,121 A-shares (corresponding to a nominal value of USD 1,061.21) as a result of the exercise of a corresponding number of Restricted Share Units. The capital increase is carried out without any pre-emption rights for existing shareholders or others. 81,310 of the new shares have been subscribed for in cash at DKK 47.4 per A-share, the remaining 24,811 of the new shares have been subscribed for in cash at DKK 43.4 per A-share. Al...

 PRESS RELEASE

TORM plc Third Quarter Report 2021

TORM plc Third Quarter Report 2021  “The market for refined oil is at present negatively impacted by the restricted crude supply not meeting demand, thereby drawing onshore stocks resulting in stock levels that are below five-year lows in several regions. This imbalance has led to historically low product tanker freight rates in the third quarter of 2021, resulting in an EBITDA of USD 30.4m and a loss before tax of USD -14.1m,” says Executive Director Jacob Meldgaard and adds: “In these challenging times, TORM continues a relentless focus on operational efficiency while maintaining a solid ...

 PRESS RELEASE

TORM plc to announce third quarter 2021 results 

TORM plc to announce third quarter 2021 results    TORM plc (“TORM”) (ticker: TRMD A on Nasdaq in Copenhagen and TRMD on Nasdaq in New York) will release its financial results for the third quarter of 2021 on Wednesday, 10 November 2021. TORM’s results will be presented on a live webcast via TORM’s website at 09:00 am Eastern Time / 03:00 pm Central European Time. Participants should register approximately ten minutes prior to the event. There will be a simultaneous conference call. For participation in the call, please dial (or +1 (760) 294 1674 for US connections) at least ten...

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