Odfjell SE Annual Report 2012
Odfjell SE Annual Report 2012
Odfjell SE Annual Report 2012
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odfjell group<br />
(USD 1 000) Per 15 August 2011<br />
Gross revenue 124 271<br />
Voyage expenses (59 270)<br />
Gross result 65 001<br />
General and administrative expenses (19 818)<br />
Operating result before depreciation and capital gain (loss) on non-current assets (EBITDA) 45 183<br />
Depreciation (13 169)<br />
Capital gain (loss) on non-current assets 269 516<br />
Operating result (EBIT) 301 530<br />
Interest income 312<br />
Interest expenses (4 142)<br />
Other financial items (1 029)<br />
Currency gains (losses) 180<br />
Net financial items (4 679)<br />
Result before tax 296 851<br />
Taxes (8 355)<br />
Net result from discontinued operation 288 496<br />
Earnings per share (USD) – basic and diluted 3.67<br />
The net cash flows incurred by discontinued operation (from control to joint control) are as follows (100% share):<br />
(USD 1 000) Per 15 August 2011<br />
Net cash flow from operating activities 54 857<br />
Net cash flow from investing activities (33 127)<br />
Net cash flow from financing activities (13 913)<br />
Net cash inflow/(outflow) 7 817<br />
The sale of discontinued operation (from control to joint control) had the following effect on the Group’s financial position (49% share):<br />
(USD 1 000) Discontinued operations sold in 2011<br />
Assets of discontinued operations 15.08.2011 266 550<br />
Liabilities of discontinued operations 15.08.2011 (152 607)<br />
Net identifiable assets and liabilities (49% share) 113 943<br />
Cost of sale (5 040)<br />
Currency exchange differences 6 966<br />
Gain on sale (49% share) 132 063<br />
Cash received (49% share sold) 247 932<br />
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odfjell annual report <strong>2012</strong>
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