Consolidated statement of profit or loss
| US$ Thousand | 2017 | 2016 |
|---|---|---|
Revenue | 390 971 | 347 110 |
Voyage costs | (133 534) | (85 724) |
Time charter equivalent earnings | 257 437 | 261 386 |
Time charter hire costs | (126 664) | (117 198) |
Other direct operating costs | (80 370) | (73 509) |
General and administrative costs | (15 482) | (15 690) |
Result from disposal of vessels | 1 917 | - |
EBITDA | 36 838 | 54 989 |
Depreciation and impairment | (48 266) | (44 855) |
EBIT | (11 428) | 10 134 |
Financial income | 2 419 | 1 767 |
Financial (charges) | (28 379) | (24 134) |
Profit share of equity accounted investee | 85 | 230 |
Profit/ (loss) before tax | (37 303) | (12 003) |
Tax | (780) | (835) |
Net profit / (loss) | (38 083) | (12 838) |
Basic earnings per share in US$ (1) | (0.075) | (0.031) |
Consolidated Statement of Other Comprehensive Income
| US$ Thousand | 2017 | 2016 |
|---|---|---|
Profit / (loss) for the period | (38 083) | (12 838) |
Items that can subsequently be reclassified into Profit or Loss |
|
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Movement of valuation of Cash flow hedges | 2 456 | 1 689 |
Movement in conversion reserve | 253 | (247) |
Total comprehensive result for the period | (35 374) | (11 396) |
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The net result is entirely attributable to the equity holders of the Group | ||
Basic comprehensive income / (loss) per share in US$ (1) | (0.070) | (0.027) |
(1) Basic earnings per share (e.p.s.) in 2017 was calculated on an average number of 508,653,542 outstanding shares, while in 2016 e.p.s. was calculated on an average number of 420,295,298 outstanding shares. There was no dilution effect in 2017 earnings per share, while diluted e.p.s. in 2016 was US$(0.030).