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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Afren | LSE:AFR | London | Ordinary Share | GB00B0672758 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.785 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
There are no material changes to either the contingent liabilities or post balance sheet events, from those previously disclosed within the 2014 annual report and accounts.
Unaudited condensed consolidated statement of comprehensive income
Three months ended 31 March 2015
Hot Features
Premium
3 months to 3 months to
31 March 2015 31 March 2014
Unaudited Unaudited
US$m US$m
============================================== ============= =============
Revenue 130.3 269.0
Cost of sales (87.0) (186.0)
=============================================== ============= =============
Gross profit 43.3 83.0
Administrative expenses (32.2) (6.4)
Other operating expenses
- derivative financial instruments (1.8) (3.6)
- impairment of exploration and evaluation
assets (26.5) (0.6)
=============================================== ============= =============
Operating (loss)/profit (17.2) 72.4
Finance income 0.2 0.6
Finance costs (34.2) (19.9)
Other gains
- foreign currency gains 3.1 2.3
- fair value gains on financial liabilities
and financial assets - 0.4
(Loss)/profit before tax (48.1) 55.8
Income tax (charge)/credit (5.0) 16.7
=============================================== ============= =============
(Loss)/profit after tax (53.1) 72.5
=============================================== ============= =============
Attributable to:
Equity holders of Afren plc (52.0) 74.3
Non-controlling interests (1.1) (1.8)
=============================================== ============= =============
(53.1) 72.5
============================================== ============= =============
Other comprehensive income
Loss on revaluation of available-for-sale
investment - (0.1)
Reclassification adjustment for gains
recycled to profit and loss (32.2) -
=============================================== ============= =============
Other comprehensive expense for the period (32.2) (0.1)
=============================================== ============= =============
Total comprehensive (expense)/income for
the period (85.3) 72.4
=============================================== ============= =============
Attributable to:
Equity holders of Afren plc (84.2) 74.2
Non-controlling interests (1.1) (1.8)
=============================================== ============= =============
(85.3) 72.4
============================================== ============= =============
(Loss)/earnings per share from all activities
Basic (0.6) c 6.8 c
Diluted (0.6) c 6.5 c
Unaudited condensed consolidated balance sheet
As at 31 March 2015
31 December
31 March 2015 2014
Unaudited Audited
US$m US$m
============================================ ============= ===========
Assets
Non-current assets
Intangible oil and gas assets 221.0 219.6
Property, plant and equipment 1,580.1 1,379.9
Deferred tax assets 340.4 348.2
2,141.5 1,947.7
============================================ ============= ===========
Current assets
Inventories 125.3 164.7
Trade and other receivables 195.6 221.8
Prepayments and advances to Partners 64.0 64.0
Cash and cash equivalents 100.5 236.5
485.4 687.0
============================================ ============= ===========
Total assets 2,626.9 2,634.7
============================================= ============= ===========
Liabilities
Current liabilities
Trade and other payables (837.0) (735.3)
Provisions (13.6) (21.0)
Borrowings (574.8) (268.4)
Current tax liabilities (23.8) (15.7)
Deferred consideration on acquisitions (21.5) (21.0)
Obligations under finance lease (23.8) (21.8)
Derivatives over own equity (58.9) (57.5)
Derivative financial instruments - (4.8)
(1,553.4) (1,145.5)
============================================ ============= ===========
Net current liabilities (1,068.0) (458.5)
============================================= ============= ===========
Non-current liabilities
Deferred tax liabilities (85.1) (96.0)
Provision for decommissioning (37.9) (44.0)
Borrowings (721.3) (1,035.6)
Obligations under finance leases (50.3) (56.0)
Derivative financial instruments (11.8) (8.4)
============================================= ============= ===========
(906.4) (1,240.0)
============================================ ============= ===========
Total liabilities (2,459.8) (2,385.5)
Net assets 167.1 249.2
============================================= ============= ===========
Equity
Share capital 19.2 19.2
Share premium 929.3 929.3
Other reserves 89.0 118.0
Accumulated loss (852.1) (800.1)
============================================= ============= ===========
Total equity attributable to parent company 185.4 266.4
============================================= ============= ===========
Non-controlling interest (18.3) (17.2)
============================================= ============= ===========
Total equity 167.1 249.2
============================================= ============= ===========
Unaudited condensed consolidated cash flow statement
Three months ended 31 March 2015
3 months to 3 months to
31 March 2015 31 March 2014
Unaudited Unaudited
US$m US$m
===================================================== ============= =============
Operating (loss)/profit for the period (17.2) 72.4
Depreciation, depletion and amortisation 81.8 100.2
Unrealised gains on derivative financial instruments (33.5) (6.4)
Impairment charge on exploration and evaluation
assets 26.5 0.6
Share-based payments charge 1.5 2.3
===================================================== ============= =============
Operating cash-flows before movements in working
capital 59.1 169.1
Decrease in trade and other operating receivables 30.7 26.1
Decrease in trade and other operating payables (37.0) (47.8)
Decrease/(increase) in inventory of crude oil 31.2 (29.8)
Current tax paid - (3.4)
===================================================== ============= =============
Net cash generated by operating activities 84.0 114.2
===================================================== ============= =============
Purchases of property, plant and equipment (209.7) (94.4)
Exploration and evaluation expenditure (2.3) (31.7)
Decrease/(increase) in inventories - drilling
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