XML 37 R6.htm IDEA: XBRL DOCUMENT v3.24.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
(Loss)/Profit for the year $ (210,948) $ 349,659 $ 875,317
Adjustments:      
Depreciation and amortization 90,939 62,876 57,640
Financing expenses, net 26,972 5,711 141,361
Share in losses/(profit) of associated companies, net 200,480 (1,118,175) (1,250,149)
Losses related to Qoros 0 0 251,483
Losses related to ZIM 860 727,650 204
Share-based payments (1,547) 18,855 18,369
Other expenses, net 4,461 0 0
Income taxes 25,199 37,980 4,325
Total adjustments 136,416 84,556 98,550
Change in trade and other receivables (2,932) (28,819) (1,171)
Change in trade and other payables (9,514) (10,100) (429)
Cash generated from operating activities 123,970 45,637 96,950
Dividends received from associated companies, net 154,672 727,309 143,964
Income taxes paid, net (1,854) (1,565) (385)
Net cash provided by operating activities 276,788 771,381 240,529
Cash flows from investing activities      
Short-term deposits and restricted cash, net 49,827 (46,266) 558,247
Short-term collaterals deposits, net 29,864 (19,180) 0
Investment in long-term deposits, net 154 12,750 51,692
Investments in associated companies, less cash acquired (7,619) (2,932) (8,566)
Acquisition of subsidiary, less cash acquired (327,108) 0 (659,169)
Acquisition of property, plant and equipment, intangible assets and payment of long-term advance deposits and prepaid expenses (332,117) (281,286) (239,663)
Proceeds from sales of interest in ZIM 0 463,549 67,087
Proceeds from distribution from associated companies 3,000 4,444 46,729
Proceeds from sale of subsidiary, net of cash disposed off 2,000 0 0
Proceeds from sale of other investments 193,698 308,829 0
Purchase of other investments (50,000) (650,777) 0
Long-term loan to an associate (23,950) 0 (5,000)
Reimbursement in respect of right-of-use asset 0 0 4,823
Interest received 27,968 6,082 269
Proceeds from/(payment of) transactions in derivatives, net 2,047 1,349 (5,635)
Payment of financial guarantee 0 0 (16,265)
Net cash used in investing activities (432,236) (203,438) (205,451)
Cash flows from financing activities      
Repayment of long-term loans, debentures and lease liabilities (167,769) (55,762) (562,016)
Short-term credit from banks and others, net 62,187 0 0
Proceeds from Veridis transaction 129,181 0 0
Proceeds from issuance of share capital by a subsidiary to non-controlling interests, net of issuance expenses 0 193,148 142,334
Investments from holders of non-controlling interests in equity of subsidiary 63,878 36,725 197,076
Tax Equity Investment 82,405 0 0
Receipt of long-term loans 391,447 102,331 343,126
Proceeds from/(payment of) derivative financial instruments, net 2,385 (923) (13,933)
Repurchase of own shares (28,130) 0 0
Costs paid in advance in respect of taking out of loans (19,508) (2,845) (4,991)
Cash distribution and dividends paid (150,362) (740,922) (100,209)
Dividends paid to holders of non-controlling interests 0 0 (10,214)
Payment of early redemption commission with respect to the debentures 0 0 (75,820)
Proceeds from issuance of debentures, less issuance expenses 0 0 262,750
Interest paid (41,135) (25,428) (31,523)
Net cash provided by/(used in) financing activities 324,579 (493,676) 146,580
Increase in cash and cash equivalents 169,131 74,267 181,658
Cash and cash equivalents at beginning of the year 535,171 474,544 286,184
Effect of exchange rate fluctuations on balances of cash and cash equivalents (7,464) (13,640) 6,702
Cash and cash equivalents at end of the year $ 696,838 $ 535,171 $ 474,544