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TORM (TRMD) investor relations material
TORM Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary14 Aug, 2025
Executive summary
Achieved strong Q2 2025 results with stable freight rates and a positive outlook for Q3, raising full-year guidance on continued momentum.
Net profit for Q2 2025 was $59m, down from $63m in Q1 and $194.2m year-over-year, reflecting normalization of rates.
Sold three vessels in Q2, reducing fleet size to 88; exercised purchase options for 13 leaseback vessels to transition to full ownership.
Maintained a modern, eco-design fleet, with a majority scrubber-fitted.
Board approved interim dividend of $0.40/share for Q2, totaling $39.2m and a payout ratio of 67%.
Financial highlights
Q2 2025 TCE revenue was $208m, down from $214m in Q1; Q2 revenue was $315.2m, down 28% year-over-year.
EBITDA for Q2 was $127m–$129m, compared to $136m in Q1 and $251.1m in Q2 2024.
Net profit for Q2 was $59m (Q2 2024: $194.2m); H1 net profit was $121.6m.
Basic EPS for Q2 was $0.60; dividend payout ratio increased to 67%.
Free cash flow for H1 2025 was $292.9m; net cash from operating activities was $244.4m.
Outlook and guidance
Raised 2025 TCE earnings guidance to $800–950m (from $700–900m) and EBITDA to $475–625m (from $400–600m).
66% of 2025 earning days fixed at $27,833/day; remaining 34% open to market rates.
Positive outlook for Q3 2025, with strong coverage and firming rates.
Key risks include geopolitical conflicts, refinery closures, oil price volatility, and global economic trends.
Why did TORM raise its full-year guidance?
Explain the new financing commitments.
Detail the impact of geopolitical events.
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Q3 20256 Nov, 2025
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Frequently asked questions
TORM plc, is a product tanker company based in the United Kingdom. The firm is engaged in the transportation of refined oil products and crude oil. TORM plc operates through Tankers and Trading, Offshore Services, and Other segments. The Tankers and Trading segment offers storage services for the transport of crude oil, petroleum products, and industrial chemicals; shipping services on behalf of other companies; ship chartering services; equipment leasing services; providing financial and insurance services; and marine brokerage business. The Offshore Services segment provides offshore services to various customers. This segment includes supply vessel operation under transportation contracts; provision of marine equipment group/crewing/management, deckhands, and catering as well as exploration drilling support vessels. TORM is based in London, the United Kingdom.
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