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TORM plc's (TRMD) CEO Jacob Meldgaard on Q4 2020 Results - Earnings Call Transcript

Mar. 01, 2021 2:02 PM ETTORM plc (TRMD) Stock
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TORM plc (NASDAQ:TRMD) Q4 2020 Results Earnings Conference Call March 1, 2021 9:00 AM ET

Company Participants

Finn Petersen - Investor Relations Manager

Jacob Meldgaard - Executive Director and CEO

Kim Balle - Chief Financial Officer

Conference Call Participants

Jon Chappell - Evercore

Anders Wennberg - Catella

Ulrik Bak - SEB


Ladies and gentlemen, thank you for standing by. And welcome to TORM’s Annual Report 2020. At this time, all participants are in listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Finn Petersen. Please go ahead.

Finn Petersen

Thank you for dialing in and welcome to TORM’s conference call regarding the results of fourth quarter 2020. My name is Finn Bjarke Petersen and I am the Investor Relations Manager in TORM. As usual, we will refer to the slides as we speak and at the end of the presentation, we will open up for questions.

Please turn to slide two. Before commencing, I’d like to draw your attention to our Safe Harbor statement.

Please turn to slide three. With me today, I have Executive Director and CEO, Jacob Meldgaard; and CFO, Kim Balle.

I will now hand over the call to you Jacob.

Jacob Meldgaard

Well, thank you, Finn, and please turn to slide four. First and foremost, good afternoon. Thank you all for dialing in. I’m truly happy to be here today as we published a strong result here for 2020 and not least because we this morning have also announced the acquisition of eight MR from Team Tankers in a party share based transaction, which we view as attractive.

2020 has indeed been a special year also for the product tankers impacted by the global pandemic and the

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