Income Statements

Parent company

Consolidated

2017

2016

(Amounts in USD 1,000 )

Note

2017

2016

4,566

865

Operating revenue

2,4,14,19,22

415,309

469,123

-6,762

-13,187

Operating expenses

2,8,14,17,18,19,22

-262,412

-340,829

-2,196

-12,321

Operating margin

152,897

128,295

-

-

Depreciation and amortization

4,5

-122,032

-111,771

-

-

Impairment of vessels

4.5

-126,299

-60,180

-

-

Impairment of intangible assets

4.5

-

-1,015

-

-

Impairment of long-term receivables, projects

9

-24,000

-15,379

-

-

Gain/(loss) on sales of assets

24

46

-423

-

-

Gain on bargain purchase

31

-

18,312

368

368

Gain on sale of interest rate derivatives (CIRR)

12

368

368

-

-

Gain/(loss) on currency derivative contracts

20,27

-264

-7,762

-1,828

-11,953

Operating profit

4

-119,283

-49,555

 

FINANCIAL INCOME AND EXPENSES

5,097

7,207

Financial income

3,20

8,687

12,471

-242,290

-12,825

Financial expenses

3,6,20

-69,649

-55,312

-2,108

64

Net currency gain/(loss)

20

-15,292

-64,154

-239,301

-5,554

Net financial items

-76,254

-106,994

-

-

Result from associated companies

7

580

19

-241,129

-17,508

Profit /(loss) before taxes

-194,957

-156,531

−79

2,742

Tax benefit/(expense)

11

-9,087

626

-241,208

-14,765

Net profit (loss)

-204,044

-155,905

-

-

Attributable to non-controlling interest

-39,720

-13,469

-241,20

-14,765

Attributable to shareholders of the Company

-164,324

-142,436

 

Weighted average number of outstanding shares (1,000)

894,624

842,021

Earnings per share: Basic and Diluted

21

-0.18

0.17

 

COMPREHENSIVE INCOME STATEMENT

2017

2016

(Amounts in USD 1,000)

Note

2017

2016

-241,208

-14,765

Net profit/(loss)

-204,044

-155,905

Other comprehensive income

Items that will not be reclassified to profit or loss

-

-

Pension remeasurement gain (loss)

-491

230

Items that may be subsequently reclassified to profit or loss

-

-

Cash flow hedges

-

60,319

-

-

Currency translation differences

8,240

-23

-241,208

-14,765

Total comprehensive loss for the year

-196,295

-95,379

-

-

 

Attributable to non-controlling interest

-39,700

-12,268

-241,208

-14,765

Attributable to shareholders of the Company

-156,596

-83,110

Board Of Directors

Financial Statements

Notes