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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Euronav NV | NYSE:EURN | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 16.95 | 2 | 10:26:40 |
EURONAV NV
|
||
(Registrant)
|
||
Dated: October 13, 2016
|
||
By:
|
/s/ Hugo De Stoop
|
|
Hugo De Stoop
|
||
Chief Financial Officer
|
·
|
Acquisition of 2 VLCC resales for USD 84.5m each
|
·
|
Interim dividend of USD 0.55 to be paid in September
|
·
|
Q3 tanker trading remains weak in line with seasonal trading pattern – now likely to impact into Q4
|
|
Paddy Rodgers
Chief Executive Officer
|
Carl Steen
Chairman of the Board of Directors
|
Note
|
June 30, 2016
|
December 31, 2015
|
||||||
ASSETS
|
||||||||
Non-current assets
|
||||||||
Vessels
|
8
|
2,592,723
|
2,288,036
|
|||||
Assets under construction
|
8
|
−
|
93,890
|
|||||
Other tangible assets
|
8
|
853
|
1,048
|
|||||
Prepayments
|
8
|
5
|
2
|
|||||
Intangible assets
|
-
|
202
|
238
|
|||||
Receivables
|
-
|
174,818
|
259,908
|
|||||
Investments in equity accounted investees
|
20
|
26,721
|
21,637
|
|||||
Deferred tax assets
|
-
|
762
|
935
|
|||||
Total non-current assets
|
2,796,084
|
2,665,694
|
||||||
Current assets
|
||||||||
Trade and other receivables
|
17
|
174,662
|
219,080
|
|||||
Current tax assets
|
-
|
151
|
114
|
|||||
Cash and cash equivalents
|
-
|
100,488
|
131,663
|
|||||
Non-current assets held for sale
|
6
|
−
|
24,195
|
|||||
Total current assets
|
275,301
|
375,052
|
||||||
TOTAL ASSETS
|
3,071,385
|
3,040,746
|
||||||
EQUITY and LIABILITIES
|
||||||||
Equity
|
||||||||
Share capital
|
-
|
173,046
|
173,046
|
|||||
Share premium
|
-
|
1,215,227
|
1,215,227
|
|||||
Translation reserve
|
-
|
206
|
(50)
|
|||||
Treasury shares
|
11
|
(16,102)
|
(12,283)
|
|||||
Retained earnings
|
-
|
552,074
|
529,809
|
|||||
Equity attributable to owners of the Company
|
1,924,451
|
1,905,749
|
||||||
Non-current liabilities
|
||||||||
Bank loans
|
13
|
965,056
|
952,426
|
|||||
Other payables
|
14
|
534
|
590
|
|||||
Employee benefits
|
-
|
2,114
|
2,038
|
|||||
Provisions
|
-
|
205
|
436
|
|||||
Total non-current liabilities
|
967,909
|
955,490
|
||||||
Current liabilities
|
||||||||
Trade and other payables
|
14
|
70,475
|
79,078
|
|||||
Tax liabilities
|
-
|
98
|
1
|
|||||
Bank loans
|
13
|
108,125
|
100,022
|
|||||
Provisions
|
-
|
327
|
406
|
|||||
Total current liabilities
|
179,025
|
179,507
|
||||||
TOTAL EQUITY and LIABILITIES
|
3,071,385
|
3,040,746
|
||||||
|
||||||||
Note
|
2016
|
2015
|
||||||
Jan. 1 - Jun. 30, 2016
|
Jan. 1 - Jun. 30, 2015
|
|||||||
Shipping revenue
|
||||||||
Revenue
|
7
|
404,450
|
416,529
|
|||||
Gains on disposal of vessels/other tangible assets
|
8
|
13,821
|
2,128
|
|||||
Other operating income
|
-
|
3,702
|
4,296
|
|||||
Total shipping revenue
|
421,973
|
422,953
|
||||||
Operating expenses
|
||||||||
Voyage expenses and commissions
|
9
|
(24,855)
|
(37,665)
|
|||||
Vessel operating expenses
|
10
|
(80,091)
|
(76,779)
|
|||||
Charter hire expenses
|
-
|
(11,010)
|
(13,726)
|
|||||
Loss on disposal of vessels/other tangible assets
|
8
|
(2)
|
(2)
|
|||||
Loss on disposal of investments in equity accounted investees
|
19
|
(24,150)
|
−
|
|||||
Depreciation tangible assets
|
8
|
(109,447)
|
(101,688)
|
|||||
Depreciation intangible assets
|
-
|
(50)
|
(11)
|
|||||
General and administrative expenses
|
-
|
(21,721)
|
(21,126)
|
|||||
Total operating expenses
|
(271,326)
|
(250,997)
|
||||||
RESULT FROM OPERATING ACTIVITIES
|
150,647
|
171,956
|
||||||
Finance income
|
-
|
1,884
|
389
|
|||||
Finance expenses
|
-
|
(20,958)
|
(27,424)
|
|||||
Net finance expenses
|
(19,074)
|
(27,035)
|
||||||
Share of profit(loss) of equity accounted investees (net of income tax)
|
20
|
22,276
|
25,015
|
|||||
PROFIT (LOSS) BEFORE INCOME TAX
|
153,849
|
169,936
|
||||||
Income tax benefit (expense)
|
-
|
(159)
|
3,315
|
|||||
PROFIT (LOSS) FOR THE PERIOD
|
153,690
|
173,251
|
||||||
Attributable to:
|
||||||||
Owners of the company
|
-
|
153,690
|
173,251
|
|||||
Basic earnings per share
|
12
|
0.97
|
1.13
|
|||||
Diluted earnings per share
|
12
|
0.97
|
1.11
|
|||||
Weighted average number of shares (basic)
|
12
|
158,359,054
|
153,071,800
|
|||||
Weighted average number of shares (diluted)
|
12
|
158,575,911
|
155,915,594
|
|||||
|
||||||||
Note
|
2016
|
2015
|
||||||
Jan. 1 - Jun. 30, 2016
|
Jan. 1 - Jun. 30, 2015
|
|||||||
Profit/(loss) for the period
|
153,690
|
173,251
|
||||||
Other comprehensive income, net of tax
|
||||||||
Items that will never be reclassified to profit or loss:
|
||||||||
Remeasurements of the defined benefit liability (asset)
|
-
|
−
|
−
|
|||||
Items that are or may be reclassified to profit or loss:
|
||||||||
Foreign currency translation differences
|
-
|
256
|
(391)
|
|||||
Equity-accounted investees - share of other comprehensive income
|
20
|
548
|
718
|
|||||
Other comprehensive income, net of tax
|
804
|
327
|
||||||
Total comprehensive income for the period
|
154,494
|
173,578
|
||||||
Attributable to:
|
||||||||
Owners of the company
|
154,494
|
173,578
|
||||||
|
||||||||
Note
|
Share capital
|
Share premium
|
Translation reserve
|
Hedging reserve
|
Treasury shares
|
Retained earnings
|
Capital and reserves
|
Other
|
Total equity
|
|
Balance at January 1, 2015
|
142,441
|
941,770
|
379
|
−
|
(46,062)
|
359,180
|
1,397,708
|
75,000
|
1,472,708
|
|
Profit (loss) for the period
|
−
|
−
|
−
|
−
|
−
|
−
|
173,251
|
173,251
|
−
|
173,251
|
Total other comprehensive income
|
−
|
−
|
−
|
(391)
|
−
|
−
|
718
|
327
|
−
|
327
|
Total comprehensive income
|
−
|
−
|
(391)
|
−
|
−
|
173,969
|
173,578
|
−
|
173,578
|
|
Transactions with owners of the company
|
||||||||||
Issue of ordinary shares
|
−
|
20,324
|
208,739
|
−
|
−
|
−
|
(19,357)
|
209,706
|
−
|
209,706
|
Conversion perpetual convertible preferred equity
|
−
|
10,281
|
64,719
|
−
|
−
|
−
|
−
|
75,000
|
(75,000)
|
−
|
Dividends to equity holders
|
−
|
−
|
−
|
−
|
−
|
−
|
(39,656)
|
(39,656)
|
−
|
(39,656)
|
Treasury shares
|
−
|
−
|
−
|
−
|
−
|
30,708
|
(23,158)
|
7,550
|
−
|
7,550
|
Equity-settled share-based payment
|
−
|
−
|
−
|
−
|
−
|
−
|
967
|
967
|
−
|
967
|
Total transactions with owners
|
30,605
|
273,458
|
−
|
−
|
30,708
|
(81,204)
|
253,567
|
(75,000)
|
178,567
|
|
Balance at June 30, 2015
|
173,046
|
1,215,228
|
(12)
|
−
|
(15,354)
|
451,945
|
1,824,853
|
−
|
1,824,853
|
|
Note
|
Share capital
|
Share premium
|
Translation reserve
|
Hedging reserve
|
Treasury shares
|
Retained earnings
|
Capital and reserves
|
Other
|
Total equity
|
|
Balance at January 1, 2016
|
173,046
|
1,215,227
|
(50)
|
−
|
(12,283)
|
529,808
|
1,905,748
|
−
|
1,905,748
|
|
Profit (loss) for the period
|
−
|
−
|
−
|
−
|
−
|
−
|
153,690
|
153,690
|
−
|
153,690
|
Total other comprehensive income
|
−
|
−
|
−
|
256
|
−
|
−
|
548
|
804
|
−
|
804
|
Total comprehensive income
|
−
|
−
|
256
|
−
|
−
|
154,238
|
154,494
|
−
|
154,494
|
|
Transactions with owners of the company
|
||||||||||
Dividends to equity holders
|
11
|
−
|
−
|
−
|
−
|
−
|
(129,846)
|
(129,846)
|
−
|
(129,846)
|
Treasury shares
|
11
|
−
|
−
|
−
|
−
|
(3,819)
|
(2,338)
|
(6,157)
|
−
|
(6,157)
|
Equity-settled share-based payment
|
11
|
−
|
−
|
−
|
−
|
−
|
212
|
212
|
−
|
212
|
Total transactions with owners
|
−
|
−
|
−
|
−
|
(3,819)
|
(131,972)
|
(135,791)
|
−
|
(135,791)
|
|
Balance at June 30, 2016
|
173,046
|
1,215,227
|
206
|
−
|
(16,102)
|
552,074
|
1,924,451
|
−
|
1,924,451
|
|
|
Note
|
2016
|
2015
|
||||||
Jan. 1 - Jun. 30, 2016
|
Jan. 1 - Jun. 30, 2015
|
|||||||
Cash flows from operating activities
|
||||||||
Profit (loss) for the period
|
153,690
|
173,251
|
||||||
Adjustments for:
|
116,750
|
99,507
|
||||||
Depreciation of tangible assets
|
8
|
109,447
|
101,688
|
|||||
Depreciation of intangible assets
|
-
|
50
|
11
|
|||||
Loss (gain) on disposal of investments in equity
accounted investees
|
19
|
24,150
|
−
|
|||||
Provisions
|
-
|
(248)
|
262
|
|||||
Tax (benefits)/expenses
|
-
|
159
|
(3,315)
|
|||||
Share of profit of equity-accounted investees, net of tax
|
20
|
(22,276)
|
(25,015)
|
|||||
Net finance expense
|
-
|
19,075
|
27,035
|
|||||
(Gain)/loss on disposal of assets
|
8
|
(13,819)
|
(2,126)
|
|||||
Equity-settled share-based payment transactions
|
-
|
212
|
967
|
|||||
Changes in working capital requirements
|
35,804
|
(55,875)
|
||||||
Change in cash guarantees
|
-
|
59
|
(39)
|
|||||
Change in trade receivables
|
-
|
(541)
|
10,581
|
|||||
Change in accrued income
|
-
|
10,441
|
(12,697)
|
|||||
Change in deferred charges
|
-
|
(7,457)
|
3,737
|
|||||
Change in other receivables
|
-
|
45,669
|
(32,370)
|
|||||
Change in trade payables
|
-
|
(800)
|
16,746
|
|||||
Change in accrued payroll
|
-
|
(915)
|
(620)
|
|||||
Change in accrued expenses
|
-
|
(5,174)
|
(4,348)
|
|||||
Change in deferred income
|
-
|
(5,393)
|
3,062
|
|||||
Change in other payables
|
-
|
(158)
|
(39,927)
|
|||||
Change in provisions for employee benefits
|
-
|
73
|
−
|
|||||
Income taxes paid during the period
|
-
|
73
|
173
|
|||||
Interest paid
|
-
|
(16,428)
|
(33,460)
|
|||||
Interest received
|
-
|
98
|
188
|
|||||
Dividends received from equity-accounted investees
|
20
|
778
|
275
|
|||||
Net cash from (used in) operating activities
|
290,765
|
184,059
|
||||||
Acquisition of vessels
|
8
|
(199,778)
|
(271,743)
|
|||||
Proceeds from the sale of vessels
|
8
|
38,016
|
91,065
|
|||||
Acquisition of other tangible assets
|
8
|
(43)
|
(8,114)
|
|||||
Acquisition of intangible assets
|
-
|
(15)
|
(63)
|
|||||
Proceeds from the sale of other (in)tangible assets
|
8
|
−
|
63
|
|||||
Loans from (to) related parties
|
-
|
22,047
|
12,835
|
|||||
Proceeds from capital decreases in joint ventures
|
20
|
3,737
|
1,500
|
|||||
Acquisition of subsidiaries, net of cash acquired
|
19
|
(6,755)
|
−
|
|||||
Net cash from (used in) investing activities
|
(142,791)
|
(174,457)
|
||||||
Proceeds from issue of share capital
|
-
|
−
|
229,063
|
|||||
Transaction costs related to issue of share capital
|
-
|
−
|
(19,357)
|
|||||
(Purchase of) Proceeds from sale of treasury shares
|
11
|
(6,157)
|
7,550
|
|||||
Proceeds from new borrowings
|
13
|
262,300
|
338,770
|
|||||
Repayment of borrowings
|
13
|
(304,952)
|
(631,317)
|
|||||
Dividends paid
|
-
|
(129,847)
|
(39,658)
|
|||||
Net cash from (used in) financing activities
|
(178,656)
|
(114,949)
|
||||||
Net increase (decrease) in cash and cash equivalents
|
(30,682)
|
(105,347)
|
||||||
Net cash and cash equivalents at the beginning of the period
|
-
|
131,663
|
254,086
|
|||||
Effect of changes in exchange rates
|
-
|
(493)
|
(515)
|
|||||
Net cash and cash equivalents at the end of the period
|
100,488
|
148,224
|
||||||
|
||||||||
1 Year Euronav NV Chart |
1 Month Euronav NV Chart |
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