0001655891TORM plc--12-312023-09-302023Q3false00016558912023-01-012023-09-300001655891trmd:SeafarersEmployedUnderDanishContractsMember2023-01-012023-09-300001655891trmd:SeafarersEmployedUnderDanishContractsMember2022-01-012022-12-310001655891trmd:SeafarersEmployedUnderDanishContractsMember2022-01-012022-09-300001655891ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember2023-09-300001655891ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember2023-09-300001655891ifrs-full:LaterThanFiveYearsAndNotLaterThanTenYearsMember2023-09-300001655891ifrs-full:NotLaterThanOneYearMember2022-12-310001655891ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember2022-12-310001655891ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember2022-12-310001655891ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember2022-12-310001655891ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember2022-12-310001655891ifrs-full:LaterThanFiveYearsAndNotLaterThanTenYearsMember2022-12-310001655891ifrs-full:NotLaterThanOneYearMember2022-09-300001655891ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember2022-09-300001655891ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember2022-09-300001655891ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember2022-09-300001655891ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember2022-09-300001655891ifrs-full:LaterThanFiveYearsAndNotLaterThanTenYearsMember2022-09-300001655891trmd:ChiefExecutiveOfficerCEOMembertrmd:LongTermIncentivePlanMembertrmd:IfrsShareBasedPaymentArrangementTrancheTwoMember2023-01-012023-09-300001655891trmd:ChiefExecutiveOfficerCEOMembertrmd:LongTermIncentivePlanMembertrmd:IfrsShareBasedPaymentArrangementTrancheThreeMember2023-01-012023-09-300001655891trmd:ChiefExecutiveOfficerCEOMembertrmd:LongTermIncentivePlanMembertrmd:IfrsShareBasedPaymentArrangementTrancheOneMember2023-01-012023-09-300001655891trmd:Lr2VesselsMemberifrs-full:OtherDisposalsOfAssetsMember2023-09-300001655891trmd:InterestRateSwapsUsedForHedgeAccountingMember2023-09-300001655891trmd:ForwardFreightAgreementsAtFairValueThroughProfitAndLossMember2023-09-300001655891trmd:ForwardExchangeContractsUsedForHedgeAccountingMember2023-09-300001655891trmd:BunkerSwapsUsedForHedgeAccountingMember2023-09-300001655891trmd:BunkerSwapsAtFairValueThroughProfitAndLossMember2023-09-300001655891trmd:InterestRateSwapsUsedForHedgeAccountingMember2022-12-310001655891trmd:ForwardExchangeContractsUsedForHedgeAccountingMember2022-12-310001655891trmd:InterestRateSwapsUsedForHedgeAccountingMember2022-09-300001655891trmd:ForwardFreightAgreementsAtFairValueThroughProfitAndLossMember2022-09-300001655891trmd:ForwardExchangeContractsUsedForHedgeAccountingMember2022-09-300001655891trmd:BunkerSwapsUsedForHedgeAccountingMember2022-09-300001655891trmd:BunkerSwapsAtFairValueThroughProfitAndLossMember2022-09-300001655891ifrs-full:AccumulatedImpairmentMembertrmd:VesselsAndCapitalizedDryDockingMember2023-01-012023-09-300001655891trmd:MrEcoProductTankerVesselsMemberifrs-full:MajorPurchasesOfAssetsMember2023-01-012023-09-300001655891trmd:Lr2VesselsMemberifrs-full:MajorPurchasesOfAssetsMember2023-07-012023-09-300001655891ifrs-full:NotLaterThanOneYearMember2023-09-300001655891ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember2023-09-300001655891ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember2023-09-300001655891ifrs-full:JointVenturesMember2022-01-012022-09-300001655891ifrs-full:GrossCarryingAmountMembertrmd:VesselsAndCapitalizedDryDockingMember2023-09-300001655891ifrs-full:AccumulatedImpairmentMembertrmd:VesselsAndCapitalizedDryDockingMember2023-09-300001655891ifrs-full:AccumulatedDepreciationAndAmortisationMembertrmd:VesselsAndCapitalizedDryDockingMember2023-09-300001655891trmd:VesselsAndCapitalizedDryDockingMember2023-09-300001655891ifrs-full:GrossCarryingAmountMembertrmd:VesselsAndCapitalizedDryDockingMember2022-12-310001655891ifrs-full:AccumulatedImpairmentMembertrmd:VesselsAndCapitalizedDryDockingMember2022-12-310001655891ifrs-full:AccumulatedDepreciationAndAmortisationMembertrmd:VesselsAndCapitalizedDryDockingMember2022-12-310001655891trmd:VesselsAndCapitalizedDryDockingMember2022-12-310001655891ifrs-full:GrossCarryingAmountMembertrmd:VesselsAndCapitalizedDryDockingMember2022-09-300001655891ifrs-full:AccumulatedImpairmentMembertrmd:VesselsAndCapitalizedDryDockingMember2022-09-300001655891ifrs-full:AccumulatedDepreciationAndAmortisationMembertrmd:VesselsAndCapitalizedDryDockingMember2022-09-300001655891trmd:VesselsAndCapitalizedDryDockingMember2022-09-300001655891ifrs-full:GrossCarryingAmountMembertrmd:VesselsAndCapitalizedDryDockingMember2021-12-310001655891ifrs-full:AccumulatedImpairmentMembertrmd:VesselsAndCapitalizedDryDockingMember2021-12-310001655891ifrs-full:AccumulatedDepreciationAndAmortisationMembertrmd:VesselsAndCapitalizedDryDockingMember2021-12-310001655891ifrs-full:EliminationOfIntersegmentAmountsMember2023-07-012023-09-300001655891ifrs-full:EliminationOfIntersegmentAmountsMember2023-01-012023-09-300001655891ifrs-full:EliminationOfIntersegmentAmountsMember2022-01-012022-12-310001655891trmd:MarineExhaustTechnologyAsMember2022-09-010001655891trmd:MrEcoProductTankerVesselsMemberifrs-full:MajorPurchasesOfAssetsMember2023-09-300001655891trmd:Lr2VesselsMemberifrs-full:MajorPurchasesOfAssetsMember2023-09-300001655891trmd:RestrictedStockUnitsMember2023-01-012023-09-300001655891trmd:RestrictedStockOptionsMember2023-01-012023-09-300001655891trmd:RestrictedStockUnitsMember2022-01-012022-09-300001655891ifrs-full:LeaseLiabilitiesMember2023-09-300001655891ifrs-full:LeaseLiabilitiesMember2022-12-310001655891ifrs-full:LeaseLiabilitiesMember2022-09-300001655891trmd:ChiefExecutiveOfficerCEOMembertrmd:LongTermIncentivePlanMember2023-01-012023-09-300001655891trmd:ChiefExecutiveOfficerCEOMembertrmd:AdditionalRetentionProgramMember2023-01-012023-09-300001655891trmd:RestrictedShareUnitsMember2023-01-012023-09-300001655891trmd:RestrictedShareUnitsMember2022-01-012022-09-300001655891ifrs-full:NoncontrollingInterestsMember2022-01-012022-09-300001655891ifrs-full:AccumulatedImpairmentMembertrmd:VesselsAndCapitalizedDryDockingMember2022-01-012022-12-310001655891ifrs-full:AccumulatedImpairmentMembertrmd:VesselsAndCapitalizedDryDockingMember2022-01-012022-09-300001655891ifrs-full:TreasurySharesMember2023-09-300001655891ifrs-full:SharePremiumMember2023-09-300001655891ifrs-full:RetainedEarningsMember2023-09-300001655891ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember2023-09-300001655891ifrs-full:ReserveOfCashFlowHedgesMember2023-09-300001655891ifrs-full:NoncontrollingInterestsMember2023-09-300001655891ifrs-full:IssuedCapitalMember2023-09-300001655891ifrs-full:EquityAttributableToOwnersOfParentMember2023-09-300001655891ifrs-full:TreasurySharesMember2022-12-310001655891ifrs-full:SharePremiumMember2022-12-310001655891ifrs-full:RetainedEarningsMember2022-12-310001655891ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember2022-12-310001655891ifrs-full:ReserveOfCashFlowHedgesMember2022-12-310001655891ifrs-full:NoncontrollingInterestsMember2022-12-310001655891ifrs-full:IssuedCapitalMember2022-12-310001655891ifrs-full:EquityAttributableToOwnersOfParentMember2022-12-310001655891ifrs-full:TreasurySharesMember2022-09-300001655891ifrs-full:SharePremiumMember2022-09-300001655891ifrs-full:RetainedEarningsMember2022-09-300001655891ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember2022-09-300001655891ifrs-full:ReserveOfCashFlowHedgesMember2022-09-300001655891ifrs-full:NoncontrollingInterestsMember2022-09-300001655891ifrs-full:IssuedCapitalMember2022-09-300001655891ifrs-full:EquityAttributableToOwnersOfParentMember2022-09-300001655891ifrs-full:TreasurySharesMember2021-12-310001655891ifrs-full:SharePremiumMember2021-12-310001655891ifrs-full:RetainedEarningsMember2021-12-310001655891ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember2021-12-310001655891ifrs-full:ReserveOfCashFlowHedgesMember2021-12-310001655891ifrs-full:IssuedCapitalMember2021-12-310001655891ifrs-full:EquityAttributableToOwnersOfParentMember2021-12-310001655891trmd:OperatingExpensesMember2023-07-012023-09-300001655891trmd:AdministrativeExpensesMember2023-07-012023-09-300001655891trmd:SeafarersEmployeesMember2023-01-012023-09-300001655891trmd:OperatingExpensesMember2023-01-012023-09-300001655891trmd:AdministrativeExpensesMember2023-01-012023-09-300001655891trmd:OperatingExpensesMember2022-07-012022-09-300001655891trmd:AdministrativeExpensesMember2022-07-012022-09-300001655891trmd:SeafarersEmployeesMember2022-01-012022-12-310001655891trmd:OperatingExpensesMember2022-01-012022-12-310001655891trmd:AdministrativeExpensesMember2022-01-012022-12-310001655891trmd:SeafarersEmployeesMember2022-01-012022-09-300001655891trmd:OperatingExpensesMember2022-01-012022-09-300001655891trmd:AdministrativeExpensesMember2022-01-012022-09-300001655891trmd:ApprovalOfDividendsMember2023-01-012023-09-300001655891trmd:OtherLiabilityMember2023-09-300001655891trmd:OtherLiabilityMember2022-12-310001655891trmd:OtherLiabilityMember2022-09-300001655891trmd:OtherReceivablesMember2023-09-300001655891trmd:OtherReceivablesMember2022-12-310001655891trmd:OtherReceivablesMember2022-09-300001655891ifrs-full:AccumulatedDepreciationAndAmortisationMembertrmd:VesselsAndCapitalizedDryDockingMember2023-01-012023-09-300001655891ifrs-full:AccumulatedDepreciationAndAmortisationMembertrmd:VesselsAndCapitalizedDryDockingMember2022-01-012022-12-310001655891ifrs-full:AccumulatedDepreciationAndAmortisationMembertrmd:VesselsAndCapitalizedDryDockingMember2022-01-012022-09-300001655891trmd:AdministrativeExpensesMemberifrs-full:OtherPropertyPlantAndEquipmentMember2023-01-012023-09-300001655891trmd:AdministrativeExpensesMemberifrs-full:LandAndBuildingsMember2023-01-012023-09-300001655891trmd:AdministrativeExpensesMemberifrs-full:OtherPropertyPlantAndEquipmentMember2022-01-012022-12-310001655891trmd:AdministrativeExpensesMemberifrs-full:LandAndBuildingsMember2022-01-012022-12-310001655891trmd:AdministrativeExpensesMemberifrs-full:OtherPropertyPlantAndEquipmentMember2022-01-012022-09-300001655891trmd:AdministrativeExpensesMemberifrs-full:LandAndBuildingsMember2022-01-012022-09-300001655891trmd:ScrubberInvestmentsMember2023-09-300001655891trmd:ScrubberInvestmentsMember2022-12-310001655891trmd:ScrubberInvestmentsMember2022-09-300001655891ifrs-full:SharePremiumMember2023-01-012023-09-300001655891ifrs-full:RetainedEarningsMember2023-01-012023-09-300001655891ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember2023-01-012023-09-300001655891ifrs-full:ReserveOfCashFlowHedgesMember2023-01-012023-09-300001655891ifrs-full:NoncontrollingInterestsMember2023-01-012023-09-300001655891ifrs-full:EquityAttributableToOwnersOfParentMember2023-01-012023-09-300001655891ifrs-full:SharePremiumMember2022-01-012022-09-300001655891ifrs-full:RetainedEarningsMember2022-01-012022-09-300001655891ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember2022-01-012022-09-300001655891ifrs-full:ReserveOfCashFlowHedgesMember2022-01-012022-09-300001655891ifrs-full:EquityAttributableToOwnersOfParentMember2022-01-012022-09-300001655891trmd:ApprovalOfDividendsMember2023-09-3000016558912023-06-3000016558912023-03-3100016558912022-06-3000016558912021-12-310001655891trmd:InterestBearingDebtMember2023-09-300001655891ifrs-full:OperatingSegmentsMembertrmd:TankerMember2023-09-300001655891ifrs-full:OperatingSegmentsMembertrmd:MarineExhaustMember2023-09-300001655891ifrs-full:OperatingSegmentsMember2023-09-300001655891ifrs-full:EliminationOfIntersegmentAmountsMember2023-09-3000016558912023-09-300001655891ifrs-full:OperatingSegmentsMembertrmd:TankerMember2022-12-310001655891ifrs-full:OperatingSegmentsMembertrmd:MarineExhaustMember2022-12-310001655891ifrs-full:OperatingSegmentsMember2022-12-310001655891ifrs-full:EliminationOfIntersegmentAmountsMember2022-12-3100016558912022-12-310001655891ifrs-full:OperatingSegmentsMembertrmd:TankerMember2022-09-300001655891ifrs-full:OperatingSegmentsMembertrmd:MarineExhaustMember2022-09-300001655891ifrs-full:OperatingSegmentsMember2022-09-3000016558912022-09-300001655891ifrs-full:OperatingSegmentsMembertrmd:TankerMember2023-07-012023-09-300001655891ifrs-full:OperatingSegmentsMembertrmd:MarineExhaustMember2023-07-012023-09-300001655891ifrs-full:OperatingSegmentsMember2023-07-012023-09-300001655891ifrs-full:OperatingSegmentsMembertrmd:TankerMember2023-01-012023-09-300001655891ifrs-full:OperatingSegmentsMembertrmd:MarineExhaustMember2023-01-012023-09-300001655891ifrs-full:OperatingSegmentsMember2023-01-012023-09-300001655891ifrs-full:OperatingSegmentsMembertrmd:TankerMember2022-07-012022-09-300001655891ifrs-full:OperatingSegmentsMembertrmd:MarineExhaustMember2022-07-012022-09-300001655891ifrs-full:OperatingSegmentsMember2022-07-012022-09-300001655891ifrs-full:OperatingSegmentsMembertrmd:TankerMember2022-01-012022-12-310001655891ifrs-full:OperatingSegmentsMembertrmd:MarineExhaustMember2022-01-012022-12-310001655891ifrs-full:OperatingSegmentsMember2022-01-012022-12-310001655891ifrs-full:OperatingSegmentsMembertrmd:TankerMember2022-01-012022-09-300001655891ifrs-full:OperatingSegmentsMembertrmd:MarineExhaustMember2022-01-012022-09-300001655891ifrs-full:OperatingSegmentsMember2022-01-012022-09-3000016558912023-04-012023-06-3000016558912023-01-012023-03-3100016558912022-10-012022-12-3100016558912023-07-012023-09-3000016558912022-07-012022-09-3000016558912022-01-012022-12-3100016558912022-01-012022-09-300001655891ifrs-full:GrossCarryingAmountMembertrmd:VesselsAndCapitalizedDryDockingMember2023-01-012023-09-300001655891ifrs-full:GrossCarryingAmountMembertrmd:VesselsAndCapitalizedDryDockingMember2022-01-012022-12-310001655891ifrs-full:GrossCarryingAmountMembertrmd:VesselsAndCapitalizedDryDockingMember2022-01-012022-09-30iso4217:USDxbrli:sharesiso4217:USDxbrli:sharesxbrli:pureiso4217:DKKxbrli:sharestrmd:itemtrmd:employeetrmd:Asset

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE
SECURITIES EXCHANGE ACT OF 1934

For the month of November 2023

Commission File Number 001-38294

TORM plc

Office 105, 20 St Dunstan’s Hill, London, United Kingdom, EC3R 8HL

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  Form 40-F

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Attached to this Report on Form 6-K as Exhibit 99.1 is the report of TORM plc (the “Company”) of its interim results for the third quarter and nine months ended September 30, 2023.

Attached to this Report on Form 6-K as Exhibit 99.2 is a copy of the press release of the Company, dated November 9, 2023, announcing the Company’s results for the third quarter and nine months ended September 30, 2023.

The information contained in Exhibit 99.1 of this Report on Form 6-K, except for the commentary of Jacob Meldgaard, the section entitled “The Product Tanker Market” and the section entitled “Responsibility Statement”, is hereby incorporated by reference into the Company’s registration statement on Form F-3 (File No. 333-261514) that was filed with the U.S. Securities and Exchange Commission effective December 22, 2021.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

    

TORM PLC

Dated: November 15, 2023

By:

/s/ Jacob Meldgaard

Jacob Meldgaard

Executive Director and Principal Executive Officer