Note 21 - Financial Items

Parent company

Consolidated

2016

2015

(Amounts in USD 1,000)

2016

2015

Financial income

4,499

3,491

Interest income

8,487

4,223

3,308

-

Other financial income

3,984

6,961

7,807

3,491

Total financial income

12,471

11,184

Financial expenses

-12,752

-12,210

Interest expenses

-50,146

-51,149

-73

-16

Other financial expenses

-5,166

-3,529

-12,825

-12,225

Total financial expenses

-55,312

-54,677

Other financial items

64

1,265

Net currency gain/(loss)

-3,835

22,110

64

1,265

Total currency gain/(loss)

-3,835

22,110

Net currency gain/(loss) includes an unrealized loss of USD 3.8 million related to intercompany transactions.

The net currency gain/(loss) for the Parent of USD 64 thousand includes an intercompany gain of USD 563 thousand.

The weighted average cost of debt for the Company was approximately 3.9% p.a. at 31 December 2016, including the effect of fixed interest rate swap agreements.

Board Of Directors

Financial Statements

Notes