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Danish shipping company
TORM based in Copenhagen, Denmark, is a shipping company that owns and operates product tankers. The company's product tankers carry refined oil products such as gasoline, jet fuel, naphtha and diesel oil.3 From Wikipedia, CC BY-SA 4.0
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Last updated Oct 18, 2026.
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TORM based in Copenhagen, Denmark, is a shipping company that owns and operates product tankers. The company's product tankers carry refined oil products such as gasoline, jet fuel, naphtha and diesel oil.3
From the company’s reports to the SEC. Every number links to the filing it came from.
No quarterly figures reported.
Every line of the income statement in the latest annual report, as filed.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenue | $1.3B | $1.6B | $1.5B |
| Port expenses, bunkers, commissions, and other cost of goods and services sold | -$421.6M | -$418.5M | -$430.3M |
| Operating expenses | -$252.4M | -$245.1M | -$216.0M |
| Profit from sale of vessels | $19.0M | $51.3M | $50.4M |
| Administrative expenses | -$113.8M | -$95.6M | -$82.9M |
| Other operating income and expenses | $100.0K | -$500.0K | $6.3M |
| Depreciation and amortization | -$214.5M | -$192.0M | -$149.3M |
| Operating profit (EBIT) | $356.3M | $658.8M | $698.6M |
| Financial income | $13.3M | $24.8M | $14.3M |
| Financial expenses | -$74.4M | -$74.1M | -$60.9M |
| Profit before tax | $295.2M | $609.5M | $652.0M |
| Tax | -$9.2M | $2.0M | -$4.0M |
| Net profit for the year | $286.0M | $611.5M | $648.0M |
| TORM plc shareholders | $285.3M | $612.5M | $648.3M |
| Non-controlling interest | $700.0K | -$1.0M | -$300.0K |
| Basic earnings per share (in USD per share) | $2.91 | $6.54 | $7.75 |
| Diluted earnings per share (in USD per share) | $2.85 | $6.36 | $7.48 |
No quarterly figures reported.
Every line of the balance sheet in the latest annual report, as filed.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Goodwill | $1.8M | $1.7M | $1.8M |
| Other intangible assets | $4.0M | $2.0M | $1.8M |
| Total intangible assets | $5.8M | $3.7M | $3.6M |
| Land and buildings | $9.7M | $8.1M | $5.5M |
| Vessels and capitalized dry-docking | $2.8B | $2.8B | $2.1B |
| Prepayments on vessels | $14.1M | $0 | $86.0M |
| Other non-current assets under construction | $3.4M | $4.6M | $4.2M |
| Other plant and operating equipment | $2.5M | $3.3M | $4.4M |
| Total tangible fixed assets | $2.8B | $2.8B | $2.2B |
| Investments in joint ventures | $0 | $100.0K | $100.0K |
| Loan receivables | $4.4M | $4.5M | $4.5M |
| Deferred tax asset | $300.0K | $3.1M | $400.0K |
| Other investments | $2.7M | $200.0K | $0 |
| Total financial assets | $7.4M | $7.9M | $5.0M |
| Total non-current assets | $2.8B | $2.9B | $2.2B |
| Inventories | $66.5M | $68.4M | $61.7M |
| Trade receivables | $214.7M | $183.9M | $211.0M |
| Other receivables | $23.7M | $59.6M | $60.5M |
| Prepayments | $39.1M | $12.2M | $15.2M |
| Cash and cash equivalents incl. restricted cash | $163.5M | $291.2M | $295.6M |
| Current assets excluding assets held for sale | $507.5M | $615.3M | $644.0M |
| Assets held for sale | $24.4M | $0 | $47.2M |
| Total current assets | $531.9M | $615.3M | $691.2M |
| TOTAL ASSETS | $3.4B | $3.5B | $2.9B |
| Common shares | $1.0M | $1.0M | $900.0K |
| Share premium | $110.2M | $271.0M | $260.0M |
| Treasury shares | $0 | -$4.2M | -$4.2M |
| Hedging reserves | $6.6M | $15.5M | $25.6M |
| Translation reserves | -$200.0K | -$800.0K | -$400.0K |
| Other reserves | $296.1M | $320.0M | $0 |
| Retained profit | $1.8B | $1.5B | $1.4B |
| Equity attributable to TORM plc shareholders | $2.2B | $2.1B | $1.7B |
| Non-controlling interest | $0 | $800.0K | $1.9M |
| Total equity | $2.2B | $2.1B | $1.7B |
| Non-current tax liability related to held-over gains | $45.2M | $45.2M | $45.2M |
| Deferred tax liability | $200.0K | $300.0K | $3.6M |
| Borrowings | $714.3M | $1.1B | $886.9M |
| Other non-current liabilities | $3.3M | $2.9M | $3.0M |
| Total non-current liabilities | $763.0M | $1.1B | $938.7M |
| Borrowings | $288.8M | $165.3M | $172.7M |
| Trade payables | $41.0M | $50.0M | $43.1M |
| Current tax liabilities | $300.0K | $700.0K | $600.0K |
| Other liabilities | $68.3M | $61.3M | $45.2M |
| Provisions | $700.0K | $600.0K | $500.0K |
| Prepayments from customers | $2.3M | $7.5M | $3.3M |
| Total current liabilities | $401.4M | $285.4M | $265.4M |
| Total liabilities | $1.2B | $1.4B | $1.2B |
| TOTAL EQUITY AND LIABILITIES | $3.4B | $3.5B | $2.9B |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net profit for the year | $286.0M | $611.5M | $648.0M |
| Profit from sale of vessels | -$19.0M | -$51.3M | -$50.4M |
| Depreciation and amortization | $214.5M | $192.0M | $149.3M |
| Financial income | -$13.3M | -$24.8M | -$14.3M |
| Financial expenses | $74.4M | $74.1M | $60.9M |
| Tax expenses/(income) | $9.2M | -$2.0M | $4.0M |
| Other non-cash movements | $41.4M | $22.9M | $14.5M |
| Interest received and realized exchange gains | $11.9M | $24.8M | $14.3M |
| Interest paid and realized exchange losses | -$70.0M | -$66.9M | -$66.0M |
| Income taxes paid | -$2.7M | -$1.3M | -$3.1M |
| Change in inventories, receivables and payables, etc. | -$33.5M | $47.8M | $47.8M |
| Net cash flow from operating activities | $498.9M | $826.8M | $805.0M |
| Investment in tangible fixed assets | -$308.5M | -$582.4M | -$509.7M |
| Investment in intangible fixed assets | -$1.8M | -$1.1M | -$600.0K |
| Sale of tangible fixed assets | $143.8M | $130.6M | $166.4M |
| Change in restricted cash | $13.9M | $10.8M | -$26.7M |
| Net cash flow from investing activities | -$152.6M | -$442.1M | -$370.6M |
| Proceeds, borrowings | $338.0M | $419.4M | $676.4M |
| Repayment, borrowings | -$567.7M | -$256.3M | -$585.4M |
| Vessel lease extinguishment prepayment | -$29.1M | $0 | $0 |
| Dividends paid | -$199.7M | -$553.3M | -$586.4M |
| Capital increase | $2.3M | $12.5M | $6.2M |
| Transaction costs share issue | -$100.0K | -$600.0K | -$200.0K |
| Transactions with non-controlling interests | -$3.8M | $0 | $0 |
| Net cash flow from financing activities | -$460.1M | -$378.3M | -$489.4M |
| Net cash flow from operating, investing, and financing activities | -$113.8M | $6.4M | -$55.0M |
| Capital increase | $19.3M | $331.7M | $92.7M |
| Amount of non cash share issue | $17.0M | $319.2M | $86.5M |
| Number of vessels acquired | 1 vessel | 19 vessel | 5 vessel |
Founded by Christian Schmiegelow and Ditlev Torm in 1889.1
Torm was founded by Ditlev Torm and Christian Schmiegelow in 1889. The company was listed on the Copenhagen Stock Exchange in 1905. Today, TORM is listed on Nasdaq Copenhagen and NASDAQ in New York.
From Wikipedia’s article on Dampskibsselskabet Torm, shared under CC BY-SA 4.0.6
Who has led TORM, and when. Pick a name to see everywhere that person has worked.
The company was formerly composed of tanker and bulk carrier divisions with product tanker activity accounting for the majority of the business. The last two bulk carriers were divested in 2015.
TORM is one of the leading tanker carriers of clean oil products such as gasoline, jet fuel, naphtha and diesel oil and other clean products.
The company operates approximately 80 vessels.
On 8 June 2007, A/S Dampskibsselskabet TORM (TORM) announced that TORM and Teekay Corporation had completed the acquisition of the OMI Corporation (OMI), whereby OMI became a jointly owned subsidiary of TORM and Teekay. TORM will consequently with effect from 1 August 2007 take over 24 product tankers from OMI, leaving TORM's fleet at 85 vessels excluding new builds. TORM will also take over OMI's technical operations in India and a part of OMI's organisation in the US.
In December 2025, it was announced BW Group subsidiary, Hafnia Limited had completed the purchase of approximately 13.97 per cent of TORM’s issued share capital from Oaktree Capital Management for US$311.43 million. Following completion of the transaction, Hafnia held 14,156,061 A-shares in TORM, while Oaktree retained a reduced holding.
From Wikipedia’s article on Dampskibsselskabet Torm, shared under CC BY-SA 4.0.6
From Wikidata.1
Every filing from the last three years, summarized. The full record is on SEC EDGAR.2
The numbers on this page point here. Each one links to the record it came from.
