TORM PLC 2016 AR2
The report highlights TORM's performance in 2016, during which the company navigated a softening product tanker market by leveraging its One TORM integrated operating platform. Despite challenging conditions and a non-cash impairment charge of USD 185m, TORM achieved an EBITDA of USD 200m and maintained strong cash flow from operations of USD 171m. The company completed a corporate reorganization, establishing TORM plc as the UK parent company listed on Nasdaq Copenhagen. TORM also enhanced its financial flexibility by securing USD 271m in new financing and introduced a new safety program, One TORM Safety Culture, to improve safety performance across its fleet.
Company: TORM PLC
Sector: Energy
Country: United Kingdom
Year: 2016
Type: AR2
Pages: 134
TORM PLC
Annual Report
The report highlights TORM's performance in 2016, during which the company navigated a softening product tanker market by leveraging its One TORM integrated operating platform. Despite challenging conditions and a non-cash impairment charge of USD 185m, TORM achieved an EBITDA of USD 200m and maintained strong cash flow from operations of USD 171m. The company completed a corporate reorganization, establishing TORM plc as the UK parent company listed on Nasdaq Copenhagen. TORM also enhanced its financial flexibility by securing USD 271m in new financing and introduced a new safety program, One TORM Safety Culture, to improve safety performance across its fleet.
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Document Details
Report Year
2016
Reporting Period
Jan 1, 2016 - Dec 31, 2016
Fiscal Year
2016
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
Reporting Standards
ESG Data?Experimental — AI-extracted data, may contain inaccuracies
Emissions
Scope 1:
Scope 2:
Women on Board
Women in Management
Employees