Consolidated income
statement for the year ended 31 December 2021
| (in thousands of US dollars) | Note | For the year ended 31 December | |
|---|---|---|---|
| 2021 | 2020 | ||
| Revenue | 5 | 502,790 | 384,436 |
| Cost of sales | 6 | (276,774) | (200,329) |
| Gross profit | | 226,016 | 184,107 |
| Administrative, selling and marketing expenses | 6 | (27,043) | (24,701) |
| Other income | | 1,300 | 1,300 |
| Share of profit/(loss) of joint ventures accounted for using the equity method | (2,798) | (2,973) | |
| Other gains/(losses) – net | 7 | (374) | (339) |
| Operating profit/(loss) | | 197,101 | 157,394 |
| Finance income | 9 | 4,070 | 2,357 |
| Finance costs | 9 | (53,828) | (71,751) |
| Change in fair value of derivatives | 9 | (5,904) | 18,380 |
| Net foreign exchange gains/(losses) on financial activities | 581 | (41,763) | |
| Finance income/(costs) – net | (55,081) | (92,777) | |
| Profit/(loss) before income tax | | 142,020 | 64,617 |
| Income tax credit/(expense) | 11 | 1,838 | (14,631) |
| Profit/(loss) for the year | | 143,858 | 49,986 |
| Attributable to: | | | |
| Owners of the Company | | 140,401 | 48,399 |
| Non-controlling interest | 3,457 | 1,587 | |
|
| | 143,858 | 49,986 |
| Basic and diluted earnings per share for profit/(loss) attributable to the owners of the parent of the Company during the year (expressed in US$ per share) | 12 | 0.24 | 0.08 |
The notes are an integral part of these consolidated financial statements.