Note 30 - Profit Before Taxes, Excluding Interests

Reconciliation of net profit for the fiscal year to profit/(loss) before taxes, excluding interest.

PARENT COMPANY

CONSOLIDATED

2015

2014

(Amounts in USD 1,000)

2015

2014

-16,196

-64,448

Net profit/(loss)

-196,416

70,710

12,210

11,801

Interest expenses

51,796

48,451

-568

-921

Intercompany interest

-

-

-2,923

-3,241

Interest income

-4,223

-4,188

-

-

Tax expense

4,737

2,729

-7,477

-56,809

Profit before taxes, excluding interest

-144,106

117,702