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Consolidated Statements of Changes in Shareholders' Equity - USD ($)
$ in Thousands
Total
Subtotal
Share capital (Note 22)
Share premium (Note 22)
Cumulative translation adjustment
Equity-settled compensation
Cash flow hedge
Other Reserves
Treasury shares
Revaluation surplus
Reserve from the sale of non-controlling interests in subsidiaries
Retained earnings
Non- controlling interest
Balance at beginning of period at Dec. 31, 2021 $ 1,047,830 $ 1,011,719 $ 183,573 $ 851,060 $ (514,609) $ 16,073 $ (60,932) $ 106,172 $ (16,909) $ 289,982 $ 41,574 $ 115,735 $ 36,111
Profit for the year 108,606 108,138                   108,138 468
Other comprehensive income:                          
Exchange differences on translating foreign operations 98,741 93,947     58,580         35,367     4,794
Cash flow hedge [1] 16,060 16,060         16,060            
Revaluation surplus [2] (46,903) (43,440)               (43,440)     (3,463)
Other comprehensive income / (loss) for the year 67,898 66,567     58,580   16,060     (8,073)     1,331
Total comprehensive income for the year 176,504 174,705     58,580   16,060     (8,073)   108,138 1,799
Reduction of issued share capital of the company (Note22) 0 0 (16,500)           16,500        
Reserves for the benefit of government grants [3] 0             21,531       (21,531)  
Employee share options, exercised 2,124 2,124   2,432   (778)     470        
Restricted shares, value of employee services 7,563 7,563       7,563              
Restricted shares, vested 1,824 1,824   4,647   (4,066)   1,243          
Restricted shares, forfeited 0 0           85 (85)        
Restricted shares, granted 0 0           (2,106) 2,106        
Purchase of own shares (Note 22) (36,844) (36,844)   (29,970)         (6,874)        
Dividends to shareholders (Note 22) (35,000) (35,000)   (35,000)                  
Dividends to non-controlling interest (358)                       (358)
Balance at end of period at Dec. 31, 2022 1,163,643 1,126,091 167,073 793,169 (456,029) 18,792 (44,872) 126,925 (4,792) 281,909 41,574 202,342 37,552
Profit for the year 226,721 226,291                   226,291 430
Other comprehensive income:                          
Exchange differences on translating foreign operations (222,166) (211,355)     (147,832)         (63,523)     (10,811)
Cash flow hedge [4] 27,748 27,748         27,748            
Revaluation surplus [5] 122,793 112,360               112,360     10,433
Reserve of the revaluation surplus derived from the disposals of assets [6] 0 0               (13,148)   13,148  
Other comprehensive income / (loss) for the year (71,625) (71,247)     (147,832)   27,748     35,689   13,148 (378)
Total comprehensive income for the year 155,096 155,044     (147,832)   27,748     35,689   239,439 52
Reserves for the benefit of government grants [7] 0 0           22,992       (22,992)  
Employee share options, exercised 214 214   236   (77)     55        
Restricted shares, value of employee services 6,084 6,084       6,084              
Restricted shares, vested 2,937 2,937   7,528   (6,145)   1,554          
Restricted shares, forfeited 0 0           30 (30)        
Restricted shares, granted 0 0           (824) 824        
Purchase of own shares (Note 22) (26,242) (26,242)   (22,123)         (4,119)        
Dividends to shareholders (Note 22) (35,000) (35,000)   (35,000)                  
Dividends to non-controlling interest (1,084)                       (1,084)
Balance at end of period at Dec. 31, 2023 1,265,648 1,229,128 167,073 743,810 (603,861) 18,654 (17,124) 150,677 (8,062) 317,598 41,574 418,789 36,520
Profit for the year 92,101 92,340                   92,340 (239)
Other comprehensive income:                          
Exchange differences on translating foreign operations 396,416 370,356     190,104         180,252     26,060
Cash flow hedge [8] 17,124 17,124         17,124            
Revaluation surplus [9] (268,415) (245,654)               (245,654)     (22,761)
Reserve of the revaluation surplus derived from the disposals of assets [10] 0 0               (6,935)   6,935  
Other comprehensive income / (loss) for the year 145,125 141,826     190,104   17,124     (72,337)   6,935 3,299
Total comprehensive income for the year 237,226 234,166     190,104   17,124     (72,337)   99,275 3,060
Reserves for the benefit of government grants [11] 0                        
Employee share options, exercised 99 99   115   (38)     22        
Restricted shares, value of employee services 4,759 4,759       4,759              
Restricted shares, vested 2,885 2,885   7,540   (6,111)   1,456          
Restricted shares, forfeited 0 0           34 (34)        
Restricted shares, granted 0 0           (906) 906        
Purchase of own shares (Note 22) (66,887) (66,887)   (57,066)         (9,821)        
Dividends to shareholders (Note 22) (35,000) (35,000)   (35,000)                  
Dividends to non-controlling interest (629)                       (629)
Balance at end of period at Dec. 31, 2024 $ 1,408,101 $ 1,369,150 $ 167,073 $ 659,399 $ (413,757) $ 17,264 $ 0 $ 151,261 $ (16,989) $ 245,261 $ 41,574 $ 518,064 $ 38,951
[1] Net of ($7,337) of income tax.
[2] Net of ($25,307) of Income tax.
[3] Correspond to the presumed credit of ICMS (Imposto sobre Circulação de Mercadorias e Prestação de Serviços) over the sale values in our Sugar, ethanol and energy business. (see Note 24).
[4] Net of $(8,498) of Income tax
[5] Net of $62,988 of Income tax.
[6] Net of $10,492 of Income tax.
[7] Correspond to the presumed credit of ICMS (Imposto sobre Circulação de Mercadorias e Prestação de Serviços) over the sale values in our Sugar, ethanol and energy business. (see Note 24).
[8] Net of $(7,092) of Income tax.
[9] Net of $144,971 of Income tax.
[10] Net of $2,265 of Income tax.
[11] Correspond to the presumed credit of ICMS (Imposto sobre Circulação de Mercadorias e Prestação de Serviços) over the sale values in our Sugar, ethanol and energy business. (see Note 24).