Consolidated statement of cash flow

US$ Thousand Q1 2017 Q1 2016


Profit / (loss)  for the period
 

1.832

7.191

Depreciation and amortisation

9.223

8.863

Current and deferred income tax

177

117

Financial charges

6.168

6.277

Fair value of foreign currency retranslation

(811)

(882)

Share of profit of associate

(81)

20

Profit on disposal of fixed assets

(2.677)

-

Other non-cash items

-

(21)


Cash flow from operating activities before changes in working capital
 


13.831
 


21.565
 

Movement in inventories

(1.216)

1.396

Movement in amounts receivable

(2.777)

13.542

Movement in amounts payable

(5.502)

(3.051)

Taxes paid

(78)

(74)

Net interest paid

(5.690)

-

Movement in other financial liabilities

36

(7.876)


Net cash flow from operating activities
 


(1.396)
 


25.502
 

Acquisition of fixed assets

(27.183)

(38.588)

Proceeds from disposal of fixed assets

27.000

-

Dividend from equity accounted investee

132

-

Movement in financing to equity accounted investee

29

-


Net cash flow from investing activities
 


(22)
 


(38.588)
 

Share capital increase

-

2.921

Other changes in shareholders’ equity

86

367

Treasury shares

-

(609)

Net movement in other financial receivables

(3.200)

(658)

Net movement in other financial payables

4.137

-

Bank loan repayments

(31.103)

(102.404)

Bank loan draw-downs

29.807

114.785


Net cash flow from financing activities
 


(273)
 


14.402
 

 

 

 

Net increase/ (decrease) in cash and cash equivalents

(1.691)

1.316

Cash and cash equivalents net of bank overdrafts at the beginning of the period

20.164

40.287


Cash and cash equivalents net of bank overdrafts at the end of the period
 


18.473
 


41.603
 

Cash and cash equivalents at the end of the period

29.822

41.714

Bank overdrafts at the end of the period

(11.349)

(111)

The manager responsible for preparing the company's financial reports, Mr Carlos Balestra di Mottola, in his capacity of Chief Financial Officer of d’Amico International Shipping SA (the “Company”), declares that the accounting information contained in this document corresponds to the results documented in the books, accounting and other records of the Company.


Carlos Balestra di Mottola
Chief Financial Officer

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