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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.

Torm Plc: 2 directors

Two Directors at Torm Plc sold 267,173 shares at between 223.172DKK and 223.830DKK. The significance rating of the trade was 100/100. 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 las...

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...

 PRESS RELEASE

Notification of major holdings in the Company

Notification of major holdings in the Company Pursuant to Section 38 of the Danish Capital Markets Act and Section 55 of the Danish Companies Act, TORM plc hereby announces that: Oaktree Capital Group Holdings GP, LLC has informed TORM plc that OCM Njord Holdings S.à.r.l. holds an aggregate of 53,812,989 shares in TORM plc, corresponding to 66.35% of the total share capital and 93.67% of the total voting rights in TORM plc. OCM Njord Holdings S.à.r.l. thus holds 53,812,988 A-shares and the sole C-share of nominally USD 0.01 with special voting rights in respect of certain matters as set...

 PRESS RELEASE

Kapitalforhøjelse i TORM som resultat af udnyttelse af Restricted Shar...

Kapitalforhøjelse i TORM som resultat af udnyttelse af Restricted Share Units som en del af Selskabets incitamentsprogram TORM plc (“TORM”) forhøjer sin aktiekapital med 54.905 A-aktier (svarende til en nominel værdi af USD 549,05) som resultat af udnyttelsen af et tilsvarende antal Restricted Share Units. Kapitalforhøjelsen gennemføres uden fortegningsret for eksisterende aktionærer eller andre. 54.905 af de nye aktier er tegnet kontant til DKK 43,4 pr. A-aktie, alle med en nominel værdi af USD 0,01 hver. De nye aktier er ordinære aktier uden særlige rettigheder og er omsætningspapirer...

 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 54,905 A-shares (corresponding to a nominal value of USD 549.05) 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. 54,905 of the new shares have been subscribed for in cash at DKK 43.4 per A-share, all with a nominal value of USD 0.01 each. The new shares are ordinary shares without any special rig...

 PRESS RELEASE

Kapitalforhøjelse i TORM som resultat af udnyttelse af Restricted Shar...

Kapitalforhøjelse i TORM som resultat af udnyttelse af Restricted Share Units som en del af Selskabets incitamentsprogram TORM plc (“TORM”) forhøjer sin aktiekapital med 88.399 A-aktier (svarende til en nominel værdi af USD 883,99) som resultat af udnyttelsen af et tilsvarende antal Restricted Share Units. Kapitalforhøjelsen gennemføres uden fortegningsret for eksisterende aktionærer eller andre. 88.399 af de nye aktier er tegnet kontant til DKK 43,4 pr. A-aktie, alle med en nominel værdi af USD 0,01 hver. De nye aktier er ordinære aktier uden særlige rettigheder og er omsætningspap...

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