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

9

(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.