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Condensed consolidated statement of cash flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Cash flows from operating activities          
Profit for the financial period $ 75,335 $ 259,197 $ 138,525 $ 478,768 $ 774,035
Adjustments for:          
depreciation and amortisation charges 51,084 54,846 100,714 108,975  
loss on disposal of assets 0 100 0 100  
interest income (3,424) (4,479) (6,084) (7,284)  
finance expense 11,476 14,400 28,026 36,103  
income tax expense 2,660 1,572 4,079 3,315  
Share of profit of equity-accounted investees, net of tax (2,957) (8,553) (5,993) (15,842)  
equity-settled share-based payment transactions 843 1,105 1,507 1,664  
Operating cash flow before working capital changes 135,017 318,188 260,774 605,799  
Changes in working capital:          
intangible assets (5,696) (2,618) (11,983) (5,810)  
inventories 9,981 6,540 11,848 5,823  
trade and other receivables, and prepayments 59,085 (22,096) 41,392 (31,281)  
trade and other payables (9,269) 1,550 25,277 (15,998)  
Cash generated from operations 189,118 301,564 327,308 558,533  
Income tax paid (1,436) (909) (2,269) (9,360)  
Net cash provided by operating activities 187,682 300,655 325,039 549,173  
Cash flows from investing activities          
Acquisition of other investments 0 (308) 0 (661)  
Purchase of property, plant and equipment (41,023) (13,309) (68,342) (28,674)  
Purchase of intangible assets 0 0 0 (22)  
Proceeds from disposal of property, plant and equipment 0 (100) 0 (100)  
Proceeds from disposal of other investments 0 0 0 2,343  
Interest income received 2,720 3,189 4,455 4,987  
Loan to joint ventures (973) (5,163) (3,753) (7,744)  
Repayment of loan by joint venture company 6,955 21,976 6,955 21,976  
Equity investment in joint venture (25) 0 (25) 0  
Return of investment in joint venture 0 1,360 0 1,360  
Net cash (used in)/provided by investing activities (32,346) 7,645 (60,710) (6,535)  
Cash flows from financing activities          
Proceeds from borrowings from external financial institutions 5,000 0 7,000 30,000  
Repayment of borrowings to external financial institutions (15,669) (48,073) (31,338) (63,798)  
Repayment of lease liabilities (38,177) (23,685) (91,531) (137,581)  
Payment of financing fees (270) (875) (489) (875)  
Interest paid to external financial institutions (14,758) (20,984) (30,832) (42,772)  
Proceeds from exercise of employee share options 0 111 0 520  
Proceeds from settlement of derivatives 4,535 7,873 7,652 15,796  
Dividends paid (50,546) (175,666) (65,178) (299,186)  
Purchase of treasury shares 0 0 (27,656) 0  
Other finance expense paid (296) (1,040) (2,214) (4,682)  
Net cash used in financing activities (110,181) (262,339) (234,586) (502,578)  
Net increase in cash and cash equivalents 45,155 45,961 29,743 40,060  
Cash and cash equivalents at beginning of the financial year 268,156 216,620 283,568 222,521 222,521
Cash and cash equivalents at end of the financial year 313,311 262,581 313,311 262,581 283,568
Cash and cash equivalents at end of the financial year comprises of:          
Cash at bank and on hand 194,022 166,691 194,022 166,691 195,271
Cash retained in the commercial pools 119,289 [1] 95,890 119,289 [1] 95,890 88,297 [1]
Cash and cash equivalents $ 313,311 $ 262,581 $ 313,311 $ 262,581 $ 283,568
[1] The cash retained in the commercial pools represents cash in the pool bank accounts that are opened in the name of the Group’s pool management companies and can only be used for the operation of vessels within the commercial pools.