This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Second Quarter Report 2012

Equity ratio 17.1% 32.4% 17.1% 32.4% 23.2%

Exchange rate USD/DKK, end of period 5.90 5.16 5.90 5.16 5.75

Exchange rate USD/DKK, average 5.80 5.18 5.73 5.32 5.36

Share related key figures

Earnings per share, EPS USD -1.9 -0.3 -3.0 -1.0 -6.5

Diluted earnings per share, EPS USD -1.9 -0.3 -3.0 -1.0 -6.5

Cash f low per share, CFPS USD -0.3 -0.4 -1.1 -0.6 -1.1

Share price, end of period (per share of DKK 5 each) DKK 2.1 21.7 2.1 21.7 3.7

Number of shares, end of period Million 72.8 72.8 72.8 72.8 72.8

Number of shares (excl. treasury shares), average Million 69.6 69.5 69.6 69.6 69.6

Announcement no. 30 / 21 August 2012 Second quarter report 2012 3 of 22


In general, TORM's financial results have been negatively affected by the combination of adverse market conditions and the uncertainty about the Company's difficult financial situation.

The result before tax for the second quarter of 2012 was a loss of USD 132 million, compared to a loss of USD 24 million in the same period of 2011. The result before depreciation (EBITDA) for the second quarter of 2012 was a loss of USD 23 million, compared to a gain of USD 30 million in the same period of 2011. In addition, the result was negatively impacted by mark-to-market non-cash adjustments of USD 8 million in total, compared to a gain of USD 2 million in the same period of 2011.

The Tanker Division reported an operating loss of USD 42 million in the second quarter of 2012, compared to an operating profit of USD 1 million in the same period last year. The sale of shares in a JV entity which main asset was the 2007-built LR1 vessel, TORM Ugland led to a loss of USD 5 million in the second quarter of 2012.

3 of 26

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs