v3.25.4
Consolidated Statement of Changes in Equity - USD ($)
$ in Millions
Total
Equity attributable to shareholders of TORM plc
Common shares
Share premium
Treasury shares
Hedging reserves
Translation reserves
Other reserves
Retained profit
Non-controlling interest
Equity at beginning of period at Dec. 31, 2022 $ 1,503.7 $ 1,501.4 $ 0.8 $ 167.6 $ (4.2) [1] $ 39.9 $ (0.5) $ 0.0 $ 1,297.8 $ 2.3
Comprehensive income/(loss) for the year:                    
Net profit/(loss) for the year 648.0 648.3             648.3 (0.3)
Other comprehensive income/(loss) for the year [2] (18.9) (18.8)       (18.9) 0.1     (0.1)
Tax on other comprehensive income 4.6 4.6       4.6        
Total comprehensive income for the year 633.7 634.1 0.0 0.0 0.0 [1] (14.3) 0.1 0.0 648.3 (0.4)
Capital increase [3] 92.7 92.7 0.1 92.6            
Transaction costs of capital increase (0.2) (0.2)   (0.2)            
Share-based compensation 22.5 22.5             22.5  
Dividends paid (586.4) (586.4)             (586.4)  
Total changes in equity for the period 162.3 162.7 0.1 92.4 0.0 [1] (14.3) 0.1 0.0 84.4 (0.4)
Equity at end of period at Dec. 31, 2023 1,666.0 1,664.1 0.9 260.0 (4.2) [1] 25.6 (0.4) 0.0 1,382.2 1.9
Comprehensive income/(loss) for the year:                    
Net profit/(loss) for the year 611.5 612.5             612.5 (1.0)
Other comprehensive income/(loss) for the year [2] (13.3) (13.2)       (12.7) (0.4)   (0.1) (0.1)
Tax on other comprehensive income 2.6 2.6       2.6        
Total comprehensive income for the year 600.8 601.9 0.0 0.0 0.0 [1] (10.1) (0.4) 0.0 612.4 (1.1)
Capital increase [3] 331.7 331.7 0.1 331.6            
Transaction costs of capital increase (0.6) (0.6)   (0.6)            
Capital reduction [4] 0.0 0.0   (320.0)       320.0    
Share-based compensation 30.2 30.2             30.2  
Dividends paid (553.3) (553.3)             (553.3)  
Total changes in equity for the period 408.8 409.9 0.1 11.0 0.0 [1] (10.1) (0.4) 320.0 89.3 (1.1)
Equity at end of period at Dec. 31, 2024 2,074.8 2,074.0 1.0 271.0 (4.2) [1] 15.5 (0.8) 320.0 1,471.5 0.8
Comprehensive income/(loss) for the year:                    
Net profit/(loss) for the year 286.0 285.3             285.3 0.7
Other comprehensive income/(loss) for the year [2] (11.9) (12.2)       (12.8) 0.6     0.3
Tax on other comprehensive income 3.9 3.9       3.9        
Total comprehensive income for the year 278.0 277.0 0.0 0.0 0.0 [1] (8.9) 0.6 0.0 285.3 1.0
Capital increase [3] 19.3 19.3   19.3            
Transaction costs of capital increase (0.1) (0.1)   (0.1)            
Capital reduction [5] 0.0 0.0   (180.0)       180.0    
Treasury share cancellation [1] 0.0 0.0     4.2     (4.2)    
Share-based compensation 34.1 34.1             34.1  
Dividends paid (199.7) (199.7)           (199.7)    
Total changes in equity for the period 131.6 130.6 0.0 (160.8) 4.2 [1] (8.9) 0.6 (23.9) 319.4 1.0
Transactions with non-controlling interests (3.8) (2.0)             (2.0) (1.8)
Equity at end of period at Dec. 31, 2025 $ 2,202.6 $ 2,202.6 $ 1.0 $ 110.2 $ 0.0 [1] $ 6.6 $ (0.2) $ 296.1 $ 1,788.9 $ 0.0
[1] 1) Please refer to Note 17 for further information on treasury shares.
[2] 2) Please refer to "Consolidated Statement of Comprehensive Income".
[3] 3) Please refer to Note 17 for further information on capital increases during the year.
[4] 4) The Share premium reserve was reduced by $320.0m, as decided at the Annual General Meeting on April 11, 2024 and subsequently
approved by the court, in order to create additional distributable reserves to support: (i) the future payment by the Company of dividends
to its shareholders; and (ii) potential share buybacks should it be desirable to do so.
[5] 5) The Share premium reserve was reduced by $180.0m, as decided at the Annual General Meeting on April 16, 2025 and subsequently
approved by the court, in order to create additional distributable reserves to support: (i) the future payment by the Company of dividends
to its shareholders; and (ii) potential share buybacks should it be desirable to do so.