Euronav NV | CIK:0001604481 | 3

  • Filed: 4/17/2018
  • Entity registrant name: Euronav NV (CIK: 0001604481)
  • Generator: Workiva (WebFilings)
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1604481/000160448118000007/0001604481-18-000007-index.htm
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    • ifrs-full:DisclosureOfOperatingSegmentsExplanatory

    Consolidated statement of financial position
    (in thousands of USD)
     
    December 31, 2017
     
    December 31, 2016
    ASSETS
     
    Tankers
     
    FSO
     
    Less: Equity-accounted investees
     
    Total
     
    Tankers
     
    FSO
     
    Less: Equity-accounted investees
     
    Total
    Vessels
     
    2,271,500

     
    168,100

     
    (168,100
    )
     
    2,271,500

     
    2,383,163

     
    186,170

     
    (186,170
    )
     
    2,383,163

    Assets under construction
     
    63,668

     
    —

     
    —

     
    63,668

     
    86,136

     
    —

     
    —

     
    86,136

    Other tangible assets
     
    1,663

     
    —

     
    —

     
    1,663

     
    777

     
    —

     
    —

     
    777

    Intangible assets
     
    72

     
    —

     
    —

     
    72

     
    156

     
    —

     
    —

     
    156

    Receivables
     
    163,382

     
    10,739

     
    (13,769
    )
     
    160,352

     
    204,079

     
    9,414

     
    (29,579
    )
     
    183,914

    Investments in equity accounted investees
     
    1,695

     
    —

     
    28,900

     
    30,595

     
    1,546

     
    —

     
    16,867

     
    18,413

    Deferred tax assets
     
    2,487

     
    223

     
    (223
    )
     
    2,487

     
    964

     
    —

     
    —

     
    964

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Total non-current assets
     
    2,504,467

     
    179,062

     
    (153,192
    )
     
    2,530,337

     
    2,676,821

     
    195,584

     
    (198,882
    )
     
    2,673,523

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Total current assets
     
    281,132

     
    11,581

     
    (12,077
    )
     
    280,636

     
    375,037

     
    43,048

     
    (44,697
    )
     
    373,388

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    TOTAL ASSETS
     
    2,785,599

     
    190,643

     
    (165,269
    )
     
    2,810,973

     
    3,051,858

     
    238,632

     
    (243,579
    )
     
    3,046,911

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    EQUITY and LIABILITIES
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Total equity
     
    1,820,887

     
    25,473

     
    1

     
    1,846,361

     
    1,892,836

     
    (4,879
    )
     
    (1
    )
     
    1,887,956

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Bank and other loans
     
    653,730

     
    162,762

     
    (162,762
    )
     
    653,730

     
    966,443

     
    203,512

     
    (203,512
    )
     
    966,443

    Convertible and other Notes
     
    147,619

     
    —

     
    —

     
    147,619

     
    —

     
    —

     
    —

     
    —

    Other payables
     
    539

     
    —

     
    —

     
    539

     
    533

     
    1,118

     
    (1,118
    )
     
    533

    Deferred tax liabilities
     
    —

     
    1,680

     
    (1,680
    )
     
    —

     
    —

     
    —

     
    —

     
    —

    Employee benefits
     
    3,984

     
    —

     
    —

     
    3,984

     
    2,846

     
    —

     
    —

     
    2,846

    Amounts due to equity-accounted joint ventures
     
    —

     
    —

     
    —

     
    —

     
    —

     
    —

     
    —

     
    —

    Provisions
     
    —

     
    —

     
    —

     
    —

     
    38

     
    —

     
    —

     
    38

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Total non-current liabilities
     
    805,872

     
    164,442

     
    (164,442
    )
     
    805,872

     
    969,860

     
    204,630

     
    (204,630
    )
     
    969,860

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Total current liabilities
     
    158,840

     
    728

     
    (828
    )
     
    158,740

     
    189,162

     
    38,881

     
    (38,948
    )
     
    189,095

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    TOTAL EQUITY and LIABILITIES
     
    2,785,599

     
    190,643

     
    (165,269
    )
     
    2,810,973

     
    3,051,858

     
    238,632

     
    (243,579
    )
     
    3,046,911

    Consolidated statement of profit or loss
    (in thousands of USD)
     
    2017
     
    2016
     
    2015
     
     
    Tankers
    FSO
    Less: Equity-accounted investees
    Total
     
    Tankers
    FSO
    Less: Equity-accounted investees
    Total
     
    Tankers
    FSO
    Less: Equity-accounted investees
    Total
    Shipping income
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Revenue
     
    513,398

    59,513

    (59,543
    )
    513,368

     
    704,766

    65,125

    (85,626
    )
    684,265

     
    898,495

    64,504

    (116,492
    )
    846,507

    Gains on disposal of vessels/other tangible assets
     
    36,538

    —

    —

    36,538

     
    50,397

    —

    —

    50,397

     
    13,302

    —

    —

    13,302

    Other operating income
     
    4,902

    234

    (234
    )
    4,902

     
    6,765

    327

    (96
    )
    6,996

     
    6,798

    808

    (180
    )
    7,426

    Total shipping income
     
    554,838

    59,747

    (59,777
    )
    554,808

     
    761,928

    65,452

    (85,722
    )
    741,658

     
    918,595

    65,312

    (116,672
    )
    867,235

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Operating expenses
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Voyage expenses and commissions
     
    (62,035
    )
    (304
    )
    304

    (62,035
    )
     
    (63,305
    )
    (476
    )
    4,221

    (59,560
    )
     
    (83,896
    )
    (473
    )
    13,132

    (71,237
    )
    Vessel operating expenses
     
    (150,390
    )
    (9,157
    )
    9,120

    (150,427
    )
     
    (164,478
    )
    (9,679
    )
    13,958

    (160,199
    )
     
    (160,894
    )
    (10,074
    )
    17,250

    (153,718
    )
    Charter hire expenses
     
    (31,173
    )
    —

    —

    (31,173
    )
     
    (17,713
    )
    —

    —

    (17,713
    )
     
    (25,849
    )
    —

    —

    (25,849
    )
    Losses on disposal of vessels/other tangible assets
     
    (21,027
    )
    —

    —

    (21,027
    )
     
    (1
    )
    —

    (1
    )
    (2
    )
     
    (8,002
    )
    —

    —

    (8,002
    )
    Loss on disposal of investments in equity accounted investees
     
    —

    —

    —

    —

     
    (24,150
    )
    —

    —

    (24,150
    )
     
    —

    —

    —

    —

    Depreciation tangible assets
     
    (229,777
    )
    (18,071
    )
    18,071

    (229,777
    )
     
    (233,368
    )
    (18,071
    )
    23,775

    (227,664
    )
     
    (221,399
    )
    (18,071
    )
    29,314

    (210,156
    )
    Depreciation intangible assets
     
    (95
    )
    —

    —

    (95
    )
     
    (99
    )
    —

    —

    (99
    )
     
    (50
    )
    —

    —

    (50
    )
    General and administrative expenses
     
    (46,871
    )
    (30
    )
    33

    (46,868
    )
     
    (44,152
    )
    (80
    )
    181

    (44,051
    )
     
    (46,433
    )
    (283
    )
    465

    (46,251
    )
    Total operating expenses
     
    (541,368
    )
    (27,562
    )
    27,528

    (541,402
    )
     
    (547,266
    )
    (28,306
    )
    42,134

    (533,438
    )
     
    (546,523
    )
    (28,901
    )
    60,161

    (515,263
    )
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    RESULT FROM OPERATING ACTIVITIES
     
    13,470

    32,185

    (32,249
    )
    13,406

     
    214,662

    37,146

    (43,588
    )
    208,220

     
    372,072

    36,411

    (56,511
    )
    351,972

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Finance income
     
    7,267

    197

    (198
    )
    7,266

     
    6,864

    57

    (66
    )
    6,855

     
    3,313

    22

    (23
    )
    3,312

    Finance expenses
     
    (50,730
    )
    (1,026
    )
    1,027

    (50,729
    )
     
    (52,420
    )
    (2,552
    )
    3,277

    (51,695
    )
     
    (52,590
    )
    (3,663
    )
    5,311

    (50,942
    )
    Net finance expenses
     
    (43,463
    )
    (829
    )
    829

    (43,463
    )
     
    (45,556
    )
    (2,495
    )
    3,211

    (44,840
    )
     
    (49,277
    )
    (3,641
    )
    5,288

    (47,630
    )
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Share of profit (loss) of equity accounted investees (net of income tax)
     
    150

    —

    29,932

    30,082

     
    334

    —

    40,161

    40,495

     
    185

    —

    51,407

    51,592

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Profit (loss) before income tax
     
    (29,843
    )
    31,356

    (1,488
    )
    25

     
    169,440

    34,651

    (216
    )
    203,875

     
    322,980

    32,770

    184

    355,934

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Income tax expense
     
    1,358

    (1,488
    )
    1,488

    1,358

     
    174

    (216
    )
    216

    174

     
    (5,633
    )
    184

    (184
    )
    (5,633
    )
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Profit (loss) for the period
     
    (28,485
    )
    29,868

    —

    1,383

     
    169,614

    34,435

    —

    204,049

     
    317,347

    32,954

    —

    350,301

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Attributable to:
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Owners of the company
     
    (28,485
    )
    29,868

    —

    1,383

     
    169,614

    34,435

    —

    204,049

     
    317,347

    32,954

    —

    350,301

    onsolidated statement of cash flows
    (in thousands of USD)
     
    2017
     
    2016
     
    2015
     
     
    Tankers
     
    FSO
     
    Less: Equity-accounted investees
     
    Total
     
    Tankers
     
    FSO
     
    Less: Equity-accounted investees
     
    Total
     
    Tankers
     
    FSO
     
    Less: Equity-accounted investees
     
    Total
    Net cash from operating activities
     
    211,310

     
    49,684

     
    (49,698
    )
     
    211,295

     
    427,926

     
    49,013

     
    (38,737
    )
     
    438,202

     
    505,821

     
    58,747

     
    (114,036
    )
     
    450,532

    Net cash from (used in) investing activities
     
    (40,243
    )
     
    —

     
    1

     
    (40,242
    )
     
    (90,891
    )
     
    —

     
    (9,724
    )
     
    (100,615
    )
     
    (248,770
    )
     
    —

     
    42,897

     
    (205,873
    )
    Net cash from (used in) financing activities
     
    (234,921
    )
     
    (78,421
    )
     
    78,367

     
    (234,976
    )
     
    (264,714
    )
     
    (32,929
    )
     
    36,483

     
    (261,160
    )
     
    (350,429
    )
     
    (20,557
    )
     
    5,671

     
    (365,315
    )
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Capital expenditure
     
    (177,901
    )
     
    —

     
    —

     
    (177,901
    )
     
    (342,698
    )
     
    —

     
    —

     
    (342,698
    )
     
    (361,754
    )
     
    —

     
    1,611

     
    (360,143
    )
    Impairment losses
     
    —

     
    —

     
    —

     
    —

     
    —

     
    —

     
    —

     
    —

     
    —

     
    —

     
    —

     
    —

    Impairment losses reversed
     
    —

     
    —

     
    —

     
    —

     
    —

     
    —

     
    —

     
    —

     
    —

     
    —

     
    —

     
    —