Odfjell SE Annual Report 2012

odfjell group
financial statement
Odfjell group
statement of comprehensive income
(USD 1 000) Note 2012 2011
Gross revenue 3 1 211 669 1 154 116
Net income from associates 36 825 192
Voyage expenses 19 (532 391) (532 205)
Time charter expenses 20 (173 157) (167 625)
Operating expenses 21, 23 (285 278) (237 998)
Gross result 221 668 216 480
General and administrative expenses 22, 23 (128 576) (103 731)
Operating result before compensation, depreciation, amortisation
and capital gain (loss) on non-current assets (EBITDA) 93 092 112 749
Depreciation and amortization 10 (131 501) (122 164)
Compensation 29 – 5 792
Capital gain (loss) on non-current assets 10 (4 433) 24 880
Operating result (EBIT) (42 842) 21 257
Interest income 18 3 230 2 802
Interest expenses 7 (53 226) (43 960)
Other financial items 26 (15 542) 2 494
Currency gains (losses) 27 (2 502) 4 035
Net financial items (68 040) (34 629)
Result before taxes (110 882) (13 372)
Taxes 8 38 (6 233)
Net result from continued operation (110 844) (19 605)
Net result from discontinued operation 39 – 288 496
Net result (110 844) 268 891
OTHER COMPREHENSIVE INCOME
Cash flow hedges changes in fair value 5 25 776 (4 666)
Cash flow hedges transferred to profit and loss statement 5 (14 595) (22 074)
Net unrealized gain/(loss) on available-for-sale investments 1 255 (963)
Exchange rate differences on translating foreign operations 10 983 3 049
Other comprehensive income 23 419 (24 654)
Total comprehensive income (87 425) 244 237
Net result allocated to:
Non-controlling interests 116 (121)
Owner of parent (110 960) 269 012
Total comprehensive income allocated to:
Non-controlling interests 78 526
Owner of parent (87 503) 243 624
Earnings per share (USD) - basic/diluted 13 (1.37) (0.25)
Earnings per share (USD) - basic/diluted - discontinued operation – 3.67
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odfjell annual report 2012