2016 Q4 Income Statement

Figures in USD thousands
(Audited)
FY 2016
(Audited)
FY 2015
Revenue 506,466 773,335
Voyage expenses (99,811) (146,843)
TCE income 406,655 626,492
Other operating income 1,776 2,016
Charter hire expense (69,454) (79,609)
Other operating expenses (128,836) (118,639)
Operating profit before depreciation, amortisation and impairment (EBITDA) 210,141 430,260
Amortisation charge (4,910) (4,910)
Depreciation charge (94,566) (79,806)
Operating profit before non-recurring items 110,665 345,544
Loss on disposal of other property, plant and equipment (312) -
Gain on disposal of a vessel 4,874 -
Impairment charge on vessels (144,147) -
Gain on disposal of available-for-sale financial assets 3,197 -
Impairment loss on available-for-sale financial assets (31,461) -
Negative goodwill arising from acquisition of a subsidiary 110,538 -
Total non-recurring items (57,311) -
Operating profit (EBIT) 53,354 345,544
Finance expense – net (29,489) (18,657)
Profit before tax for the financial quarter/year 23,865 326,887
Income tax credit /(expense) (233) (749)
Profit after tax for the financial quarter/year (NPAT) 23,632 326,138
Other comprehensive income/(loss), net of tax 9,029 (5,100)
Total comprehensive income for the financial quarter/year 32,661 321,038