TORM PLC (OCSE:TRMD A)

kr 148.7 -0.1 (-0.07%) Market Cap: 14.47 Bil Enterprise Value: 19.59 Bil PE Ratio: 2.76 PB Ratio: 0.99 GF Score: 83/100

Q2 2024 Torm PLC Earnings Call Transcript

Aug 15, 2024 / 01:00PM GMT

Release Date Price: kr255 (+0.39%)

Transcript

Operator

Good day, and thank you for standing by. Welcome to the TORM First Six Months and Second Quarter 2024 Results Call. Please note that todayâs call is being recorded. (Operator Instructions) Thank you. I will now turn the call over to Jacob Meldgaard, CEO. Please go ahead, sir.

Jacob Meldgaard

Torm PLC - Chief Executive Officer, Executive Director

Thank you, and thank you everybody for joining us on this call today. This morning, we released our company announcement with the results for the second quarter of the year, and Iâm pleased to report that again this quarter TORM has achieved a strong financial performance.

Our time charter equivalent earnings increased to $326 million and EBITDA improved to $251 million as freight rates remained firm throughout most of the quarter. Again, we had witnessed a continuation of the market dynamics that weâve seen in the previous quarters, i.e. geopolitical tension stemming from both the Ukraine and Russian conflict and the escalating confrontations in the Middle East that leads to rerouting of vessels, longer

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