| Address:
|
TUBORG HAVNEVEJ 18
DK-2900 HELLERUP |
| City: |
DENMARK |
|
State: |
|
|
Zip Code: |
00000 |
| Telephone: |
45 39 17 92 00 |
|
Description of Business
|
Primary SIC Code:
4400 |
| (As filed with the SEC)
|
|
|
We are Aktieselskabet Dampskibsselskabet Torm, or TORM, a Danish shipping
company founded in 1889 under the Danish Companies Act that is engaged primarily
in the ownership and operation of product tankers and bulk carriers. We have
also provided liner and offshore marine service vessels, but ceased these
services in September 2002 and December 2003, respectively. Our product tankers
primarily carry refined products such as naphtha, gasoline, gas oil, jet fuel,
and diesel oil. Our dry bulk vessels carry commodities such as coal, iron ore
and grain. Our vessels trade worldwide. Our registered office and principal
place of business is at Tuborg Havnevej 18, DK-2900 Hellerup, Denmark. Our
telephone number is +45 39179200. All the financial information presented in
Item 4 is in accordance with IFRS. ... More ... |
| Date |
12-mos
Rolling EPS |
Dividend |
P/E
Ratio |
| 09/2009 | 1.10 | NA | 9.55 | | 03/2009 | 5.00 | 0.484 | 1.55 | | 09/2008 | 4.40 | NA | 5.41 | | 12/2007 | 11.40 | NA | 3.09 |
Key Financial Ratios and Statistics |
FYE:
12/31 |
| Profitability |
2008 |
Leverage |
2008 |
| Net Inc/Comm Equity | 8.41 | Total Liab/Total Assets | 0.61 | | Net Inc/Total Assets | 0.11 | Total Liab/Inv Cap | 0.77 | | Net Inc/Inv Cap | 0.14 | Total Liab/Comm Equity | 47.43 | | Pretax Inc/Net Sales | 0.30 | Interest Coverage Ratio | 5.08 | | Net Inc/Net Sales | 0.31 | Curr Debt/Equity | 0.17 | | Cash Flow/Net Sales | 0.33 | LTD/Equity | 1.18 | | SG&A/NetSales | 0.06 | Total Debt/Equity | 1.34 |
| Asset Utilization
|
|
Liquidity |
|
| Net Receivables Turnover | 7.59 | Quick Ratio | 0.83 | | Inventory Turnover | 33.88 | Current Ratio | 0.87 | | Inventory Day Sales | 0.10 | Net Rec/Curr Assets | 0.48 | | Net Sales/Work Cap | -20.14 | Inv/Curr Assets | 0.05 | | Net Sales/PP&E | 0.45 | | |
Income Statement (Millions) |
| |
12/31/2008
|
12/31/2007
|
12/31/2006
|
12/31/2005
|
|
Total Revenues(Net Sales)
|
1,183.59
|
644.97
|
455.39
|
586.98
|
|
Cost of Goods Sold
|
645.80
|
287.35
|
183.95
|
272.02
|
|
Selling & Admin Exps
|
75.41
|
68.74
|
34.59
|
18.61
|
|
Operating Income
|
446.25
|
204.98
|
246.83
|
303.19
|
|
Interest Exp
|
88.20
|
73.60
|
NA
|
3.82
|
|
Pretax Income
|
360.07
|
804.22
|
241.09
|
299.37
|
|
Other Income
|
2.02
|
672.84
|
-1.05
|
NA
|
|
Net Income Bef Extraordinary ...
|
NA
|
NA
|
NA
|
NA
|
|
Net Income
|
361.35
|
791.68
|
238.11
|
299.36
|
|
Assets
|
12/31/2008
|
12/31/2007
|
12/31/2006
|
12/31/2005
|
|
Cash & Short Term Investments
|
179.02
|
117.98
|
33.04
|
156.97
|
|
Receivables - Total
|
192.18
|
119.80
|
71.19
|
70.88
|
|
Inventories - Total
|
18.30
|
19.82
|
12.13
|
10.87
|
|
Total Current Assets
|
404.18
|
262.35
|
120.91
|
238.71
|
|
Net Property, Plant & Equipment
|
2,611.52
|
2,553.44
|
1,140.36
|
1,210.43
|
|
Total Assets
|
3,317.35
|
2,966.56
|
2,089.02
|
1,810.14
|
|
Liabilities
|
|
|
|
|
|
Accounts Payable
|
58.67
|
44.31
|
23.34
|
32.30
|
|
Debt in Current Liabilities
|
212.37
|
769.94
|
55.90
|
59.93
|
|
Total Current Liabilities
|
462.95
|
916.95
|
106.32
|
121.84
|
|
Long-Term Debt
|
1,505.80
|
884.58
|
639.07
|
729.09
|
|
Total Liabilities
|
2,038.40
|
1,885.33
|
817.57
|
905.49
|
|
Stockholder's Equity
|
|
|
|
|
|
Minority Interest
|
NA
|
NA
|
NA
|
NA
|
|
Preferred Stock
|
NA
|
NA
|
NA
|
NA
|
|
Common Stock
|
61.10
|
61.10
|
61.10
|
61.10
|
|
Retained Earnings
|
1,209.54
|
962.32
|
574.49
|
415.31
|
|
Treasury Stock
|
-18.12
|
-18.12
|
-18.12
|
-7.71
|
|
Total Stockholders' Equity
|
1,278.95
|
1,081.23
|
1,271.45
|
904.65
|
|
Total Liabilities and Stockholders' Equity
|
3,317.35
|
2,966.56
|
2,089.02
|
1,810.14
|
Cash Flow Summary (Millions) |
|
Categories
|
12/31/2008
|
12/31/2007
|
12/31/2006
|
12/31/2005
|
|
Net Cash Provided by Operating Activities
|
384.69
|
205.21
|
232.50
|
261.11
|
|
Net Cash Provided by Investing Activities
|
-262.40
|
-363.65
|
-117.60
|
-473.14
|
|
Net Cash Provided by Financing Activities
|
-58.96
|
243.39
|
-238.60
|
303.23
|
Annual Summary Data (Millions) |
| Year |
Sales |
Net
Income |
EPS |
| 12/2004 | 476.18 | 418.37 | -- | | 12/2005 | 586.98 | 299.36 | -- | | 12/2006 | 455.39 | 238.11 | -- | | 12/2007 | 644.96 | 791.68 | 11.40 | | 12/2008 | 1,183.59 | 361.35 | -- | | Growth Rates | 25.56 | -3.60 | -- |
| Type |
Date(Q,M) |
No.
Owners |
Shares
Held (000s) |
%
Own |
| Institutional | 12/31/09 | 18 | 196 | 0.27 |
|
Report Date :
3/15/2010
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