Income statements

Parent company

Consolidated

2016

2015

(Amounts in USD 1,000 except for earnings per share amounts)

Note

2016

2015

865

145

Operating revenue

4,23

469,123

422,449

-13,187

-9,240

Operating expenses

8,18,19,20,23

-340,829

-303,901

-12,321

-9,095

Operating margin

128,295

118,548

-

-

Depreciation and amortization

4,5

-111,771

-107,025

-

-

Impairment of vessels

4.5

-60,180

-159,465

-

-

Impairment of intangible assets

4.5

-1,015

-6,705

-

-

Impairment on long-term receivables

9

-13,979

-

-

-

Impairment of projects

4,5,6

-1,400

-

-

-

Gain/(loss) on sales of assets

25

-423

16,317

-

-

Gain on bargain purchase

32

18,312

-

368

368

Gain on CIRR-deposit at off-market rate

12

368

368

-

-

Loss on currency derivative contracts

21.28

-7,762

-30,775

-11,953

-8,727

Operating loss

4

-49,555

-168,735

7,207

3,491

Financial income

3.21

12,471

11,184

-12,825

-12,225

Financial expenses

3.21

-55,312

-54,677

64

1,265

Net currency gain/(loss)

21

-3,835

22,110

-5,554

-7,469

Net financial items

-46,675

-21,384

-

-

Result from associated companies

7

19

-1,560

-17,508

-16,196

Profit /(loss) before taxes

-96,212

-191,679

2,742

-

Tax benefit/(expense)

11

626

-4,737

-14,765

-16,196

Net profit (loss)

-95,586

-196,416

-

-

Attributable to non-controlling interest

-13,469

-9,729

-14,765

-16,196

Attributable to shareholders of the Company

-82,117

-186,687

-

-

Weighted average number of outstanding shares (1,000)

842,021

518,318

-

-

Earnings per share: Basic and Diluted

22

-0.10

-0.36

Comprehensive Income Statements

2016

2015

(Amounts in USD 1,000)

Note

2016

2015

-14,765

-16,196

Net profit/(loss)

-95,586

-196,416

Other comprehensive income

Items that will not be reclassified to profit or loss

-

-

Pension remeasurement gain (loss)

230

-1,178

Items that may be subsequently reclassified to profit or loss

-

-

Cash flow hedges

-

-51,245

-

-

Currency translation differences

-23

-9,687

-14,765

-16,196

Total comprehensive loss for the year

-95,379

-258,526

-

-

 

Attributable to non-controlling interest

-9,729

-9,520

-14,765

-16,196

Attributable to shareholders of the Company

-85,650

-249,006

Board Of Directors

Financial Statements

Notes