2017 Balance Sheet and Cash Flows Download Page as PDF

Balance Sheet (Figures in USD Thousands) (Audited)
FY 2017
(Audited)
FY 2016
Total non–current assets 2,179,294 2,428,250
Total current assets 276,012 165,611
Total assets 2,455,306 2,593,861
Total shareholders’ equity 1,073,548 1,117,376
Total non–current liabilities 1,076,329 979,979
Total current liabilities 305,429 496,506
Total liabilities 1,381,758 1,476,485
Total equity and liabilities 2,455,306 2,593,861
Cash flows (Figures in USD Thousands) (Reviewed)
Q4 2017
(Reviewed)
Q4 2016
(Audited)
FY 2017
(Audited)
FY 2016
Cash flows from operating activities
(Loss)Profit before tax for the financial period/year (18,647) 79,536 (44,252) 23,865
Adjustments 44,676 (44,953) 169,995 183,574
Operating cash flow before working capital changes 26,029 34,583 125,743 207,439
Changes in working capital (19,220) (25,126) (53,459) 34,274
Net cash provided by operating activities 6,809 9,457 72,284 241,713
Net cash (used in)/provided by investing activities (9,749) (52,474) 25,019 232,696
Net cash provided by/(used in) financing activities (3,748) 69,109 (121,318) (22,238)
Net increase/(decrease) in cash and cash equivalents 808 26,092 (24,015) (13,221)
Cash and cash equivalents at beginning of the financial period/year 55,740 54,471 80,563 93,784
Cash and cash equivalents at end of the financial period/year 56,548 80,563 56,548 80,563

2017 Income Statement Download Page as PDF

Figures in USD Thousands (Reviewed)
Q4 2017
(Reviewed)
Q4 2016
(Audited)
FY 2017
(Audited)
FY 2016
Revenue 121,955 117,288 491,452 506,466
Voyage expenses (42,648) (27,348) (156,318) (99,811)
TCE income 79,307 89,940 335,434 406,655
Other operating income - 429 5,607 1,776
Charter hire expense (15,397) (18,318) (68,712) (69,454)
Other operating expenses (37,982) (36,566) (146,815) (128,836)
Operating profit before depreciation, amortisation and impairment (EBITDA) 25,928 35,485 125,514 210,141
Amortisation charge (1,227) (1,227) (4,911) (4,910)
Depreciation charge (29,682) (24,951) (122,428) (94,566)
(4,981) 9,307 (1,825) 110,665
Loss on disposal of other property, plant and equipment - - - (312)
Gain on disposal of vessel - 4,874 9,826 4,874
Gain on disposal of assets held-for-sale 561 - 577 -
Impairment charge on vessels that were reclassified to assets held-for-sale (1,945) (5,247) (4,552) (10,747)
Impairment charge on vessels - (33,100) - (133,400)
Gain on disposal of available-for-sale financial assets - 31,97 - 3,197
Impairment loss on available-for-sale financial assets - - - (31,461)
Share of loss of a joint venture (548) - (548) -
Negative goodwill arising from acquisition of a subsidiary - 110,538 - 110,538
Operating (loss)/profit (EBIT) (6,913) 89,569 3,478 53,354
Finance expense - net (11,734) (10,033) (47,730) (29,489)
(Loass)/Profit before tax for the finacial period/year (18,647) 79,536 (44,252) 23,865
Income tax (expense)/credit (369) 159 (544) (233)
(Loass)/Profit after tax for the finacial period/year (NPAT) (19,016) 79695 (44,796) 23,632
Other comprehensive income, net of tax 4,617 11,494 3,693 9,029
Total comprehensive (loss)/income for the financial period/year (14,399) 91,189 (41,103) 32,661