TORM (One-pager): Best in class earnings despite softer tanker rates in 2025
Read the latest TORM One-pager update following the FY2024 results. The one-pager includes a brief description of TORM, an update to the product tanker market, the latest financials, and valuation perspectives relative to a peer group. It also outlines several key investment risks and key investment reasons.
TORM realized TCE Earnings of USD 1,134.8 million FY2024, a small increase from FY2023 of USD 1,083.8 million, while EBITDA FY2024 was USD 850.8 million compared to USD 847.9 million in 2023. For 2025, TORM is guiding for TCE Earnings of USD 650-950 million and EBITDA of USD 350-650 million as tanker markets softened in Q4 2024 and into 2025.
Despite markets taking a step back in 2025, TORM is demonstrating best in class operational results with strong support from its ONE TORM platform to secure the best rates globally. Cash flow is expected to remain solid in 2025 with analysts expecting around 13% dividend yield FY2025.
To learn more about TORM, its outlook for 2025, and beyond, read the full One-pager or catch up on the latest FY2024 earnings presentation with TORM CEO Jacob Meldgaard and CFO Kim Balle (in Danish). Link: https://www.inderes.dk/videos/torm-praesentation-af-arsregnskabet-for-2024
Disclaimer: HC Andersen Capital receives payment from TORM for a DigitalIR/Corporate visibility subscription agreement. / Philip Coombes 18:00 07/03/2025
Torm
TORM is a leading international owner and operator of product tankers, transporting refined oil products. TORM is listed on Nasdaq Copenhagen and on the Nasdaq US, with a wholly owned fleet of approx. 90 vessels (mostly scrubber-fitted), spanning all large product tanker vessel segments with a focus on LR2, LR1, and MR. TORM has a majority shareholder in Oaktree Capital Management (55%). TORM engages in vessel trading to ensure fleet renewal and pursue secondary market opportunities that are accretive to NAV.
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