| 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 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 dry bulk carriers. 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
3917 9200. All the financial information presented in Item 4 is in accordance
with IFRS.
We provide transportation services by utilizing a fleet of vessels that we own,
charter in on short and long-term time charters, or commercially manage as the
manager of a pool or through contracts with third-party owners. We charter in
tankers and bulk vessels as are needed by the pools we manage. ... More ... |
| Date |
12-mos
Rolling EPS |
Dividend |
P/E
Ratio |
| 12/2010 | -2.00 | NA | N/E | | 12/2009 | -0.30 | NA | N/E | | 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 |
2010 |
Leverage |
2010 |
| Net Inc/Comm Equity | -3.13 | Total Liab/Total Assets | 0.66 | | Net Inc/Total Assets | -0.04 | Total Liab/Inv Cap | 0.79 | | Net Inc/Inv Cap | -0.05 | Total Liab/Comm Equity | 50.23 | | Pretax Inc/Net Sales | -0.16 | Interest Coverage Ratio | -1.30 | | Net Inc/Net Sales | -0.16 | Curr Debt/Equity | 0.19 | | Cash Flow/Net Sales | 0.00 | LTD/Equity | 1.57 | | SG&A/NetSales | 0.08 | Total Debt/Equity | 1.76 |
| Asset Utilization
|
|
Liquidity |
|
| Net Receivables Turnover | 8.60 | Quick Ratio | 0.78 | | Inventory Turnover | 20.69 | Current Ratio | 0.90 | | Inventory Day Sales | 0.05 | Net Rec/Curr Assets | 0.40 | | Net Sales/Work Cap | -26.24 | Inv/Curr Assets | 0.14 | | Net Sales/PP&E | 0.31 | | |
Income Statement (Millions) |
| |
12/31/2010
|
12/31/2009
|
12/31/2008
|
12/31/2007
|
|
Total Revenues(Net Sales)
|
859.41
|
850.30
|
1,183.59
|
644.97
|
|
Cost of Goods Sold
|
679.67
|
607.79
|
645.80
|
287.35
|
|
Selling & Admin Exps
|
71.50
|
37.72
|
75.41
|
68.74
|
|
Operating Income
|
-79.62
|
49.76
|
446.25
|
204.98
|
|
Interest Exp
|
59.29
|
74.90
|
88.20
|
73.60
|
|
Pretax Income
|
-136.24
|
-19.05
|
360.07
|
804.22
|
|
Other Income
|
2.66
|
6.09
|
2.02
|
672.84
|
|
Net Income Bef Extraordinary ...
|
NA
|
NA
|
NA
|
NA
|
|
Net Income
|
-135.26
|
-17.36
|
361.35
|
791.68
|
|
Assets
|
12/31/2010
|
12/31/2009
|
12/31/2008
|
12/31/2007
|
|
Cash & Short Term Investments
|
119.97
|
121.82
|
179.02
|
117.98
|
|
Receivables - Total
|
120.94
|
78.91
|
192.18
|
119.80
|
|
Inventories - Total
|
41.09
|
24.62
|
18.30
|
19.82
|
|
Total Current Assets
|
302.38
|
283.66
|
404.18
|
262.35
|
|
Net Property, Plant & Equipment
|
2,800.27
|
2,678.67
|
2,611.52
|
2,553.44
|
|
Total Assets
|
3,286.11
|
3,227.21
|
3,317.35
|
2,966.56
|
|
Liabilities
|
|
|
|
|
|
Accounts Payable
|
49.72
|
30.66
|
58.67
|
44.31
|
|
Debt in Current Liabilities
|
213.22
|
147.12
|
212.37
|
769.94
|
|
Total Current Liabilities
|
335.13
|
262.61
|
462.95
|
916.95
|
|
Long-Term Debt
|
1,750.37
|
1,631.20
|
1,505.80
|
884.58
|
|
Total Liabilities
|
2,170.82
|
1,980.51
|
2,038.40
|
1,885.33
|
|
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
|
1,072.33
|
1,205.15
|
1,209.54
|
962.32
|
|
Treasury Stock
|
-17.88
|
-18.12
|
-18.12
|
-18.12
|
|
Total Stockholders' Equity
|
1,115.29
|
1,246.70
|
1,278.95
|
1,081.23
|
|
Total Liabilities and Stockholders' Equity
|
3,286.11
|
3,227.21
|
3,317.35
|
2,966.56
|
Cash Flow Summary (Millions) |
|
Categories
|
12/31/2010
|
12/31/2009
|
12/31/2008
|
12/31/2007
|
|
Net Cash Provided by Operating Activities
|
-0.58
|
116.25
|
384.69
|
205.21
|
|
Net Cash Provided by Investing Activities
|
-186.91
|
-199.40
|
-262.40
|
-363.65
|
|
Net Cash Provided by Financing Activities
|
185.63
|
36.65
|
-58.96
|
243.39
|
Annual Summary Data (Millions) |
| Year |
Sales |
Net
Income |
EPS |
| 12/2006 | 455.39 | 238.11 | -- | | 12/2007 | 644.96 | 791.68 | 11.40 | | 12/2008 | 1,183.59 | 361.35 | -- | | 12/2009 | 850.30 | -17.36 | -0.30 | | 12/2010 | 859.41 | -135.26 | -2.00 | | Growth Rates | 17.21 | -- | -- |
| Type |
Date(Q,M) |
No.
Owners |
Shares
Held (000s) |
%
Own |
| Institutional | 12/31/11 | 11 | 81 | 0.11 |
|
Report Date :
2/6/2012
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