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v3.23.1

Consolidated Statement of Cash Flow | 12 Months Ended
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Dec. 31, 2022
CONSOLIDATED STATEMENT OF CASH FLOW |
Consolidated Statement of Cash Flow | Note 5 Consolidated Statement of Cash Flow The Consolidated Statement of Cash Flow shows the Group’s cash flows for the year for operating, investing and financing activities and the change in cash and cash equivalents during the year. Cash flows from operating activities are computed from the results for the year adjusted for non-cash operating items, changes in net working capital and corporate tax. Income tax paid is presented as a separate item under operating activities. Cash flows from investing activities include payments in connection with the purchase and sale of property, plant and equipment and cash flows relating to the purchase and sale of enterprises to third parties, if any. Cash flows from financing activities include changes in equity and proceeds from borrowings and repayment of loans. Cash and cash equivalents include bank overdraft, if any, and liquid funds with a term of less than three months. The following chart describes non-cash transactions related to the Consolidated Statement of Cash Flow: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Amounts in US$‘000 |  | 2022 |  | 2021 |  | 2020
Decrease in asset retirement obligation | ​ | (4,942) | ​ | (651) | ​ | (1,812)
Decrease in provisions for other long-term liabilities | ​ | (2,616) | ​ | (443) | ​ | (1,051)
Purchase of property, plant and equipment | ​ | 7,864 | ​ | — | ​ | —
Additions / changes in estimates of right-of-use assets | ​ | 22,462 | ​ | 5,288 | ​ | 560
​ Changes in working capital shown in the Consolidated Statement of Cash Flow are disclosed as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Amounts in US$‘000 |  | 2022 |  | 2021 |  | 2020
(Increase) Decrease in Inventories | ​ | (6,694) |  | 1,241 |  | 1,220
(Increase) Decrease in Trade receivables | ​ | (1,425) |  | (23,290) |  | 3,190
(Increase) Decrease in Prepayments and other receivables and Other assets (a) | ​ | (30,929) |  | (13,817) |  | 38,742
(Decrease) Increase in Trade and other payables | ​ | (999) |  | 26,515 |  | (48,392)
​ |  | (40,047) |  | (9,351) |  | (5,240)
| (a) | Includes withholding taxes from clients for US$ 27,256,000, US$ 16,361,000 and US$ 10,046,000, in 2022, 2021 and 2020, respectively.
​ The following chart shows the movements in the borrowings and lease liabilities for each of the periods presented:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Lease | ​ | ​
Amounts in US$‘000 | ​ | Borrowings | ​ | Liabilities | ​ | Total
As of January 1, 2020 | ​ | 437,419 | ​ | 13,243 | ​ | 450,662
Proceeds from borrowings | ​ | 350,000 | ​ | — | ​ | 350,000
Debt issuance costs paid | ​ | (7,507) | ​ | — | ​ | (7,507)
Acquisitions (Note 36.1) | ​ | — | ​ | 17,851 | ​ | 17,851
Addition to lease liabilities | ​ | — | ​ | 561 | ​ | 561
Accrual of borrowing's interests | ​ | 48,232 | ​ | — | ​ | 48,232
Exchange difference | ​ | — | ​ | 466 | ​ | 466
Foreign currency translation | ​ | (2,389) | ​ | (1,641) | ​ | (4,030)
Unwinding of discount | ​ | — | ​ | 1,247 | ​ | 1,247
Principal paid | ​ | (3,575) | ​ | — | ​ | (3,575)
Interest paid | ​ | (37,594) | ​ | — | ​ | (37,594)
Lease payments | ​ | — | ​ | (9,380) | ​ | (9,380)
As of December 31, 2020 | ​ | 784,586 | ​ | 22,347 | ​ | 806,933
Proceeds from borrowings | ​ | 172,174 | ​ | — | ​ | 172,174
Debt issuance costs paid | ​ | (2,019) | ​ | — | ​ | (2,019)
Addition to lease liabilities | ​ | — | ​ | 5,288 | ​ | 5,288
Accrual of borrowing's interests | ​ | 44,323 | ​ | — | ​ | 44,323
Exchange difference | ​ | (581) | ​ | (365) | ​ | (946)
Foreign currency translation | ​ | (265) | ​ | (461) | ​ | (726)
Unwinding of discount | ​ | — | ​ | 1,453 | ​ | 1,453
Principal paid | ​ | (274,934) | ​ | — | ​ | (274,934)
Interest paid | ​ | (42,592) | ​ | — | ​ | (42,592)
Borrowings cancellation costs | ​ | 6,308 | ​ | — | ​ | 6,308
Borrowings cancellation and other costs paid | ​ | (12,908) | ​ | — | ​ | (12,908)
Lease payments | ​ | — | ​ | (7,518) | ​ | (7,518)
As of December 31, 2021 | ​ | 674,092 | ​ | 20,744 | ​ | 694,836
Addition to lease liabilities | ​ | — | ​ | 22,462 | ​ | 22,462
Accrual of borrowing's interests | ​ | 36,360 | ​ | — | ​ | 36,360
Exchange difference | ​ | — | ​ | (6,426) | ​ | (6,426)
Foreign currency translation | ​ | 203 | ​ | 284 | ​ | 487
Unwinding of discount | ​ | — | ​ | 2,838 | ​ | 2,838
Principal paid | ​ | (172,522) | ​ | — | ​ | (172,522)
Interest paid | ​ | (36,514) | ​ | — | ​ | (36,514)
Borrowings cancellation costs | ​ | 5,141 | ​ | — | ​ | 5,141
Borrowings cancellation and other costs paid | ​ | (9,118) | ​ | — | ​ | (9,118)
Lease payments | ​ | — | ​ | (7,851) | ​ | (7,851)
As of December 31, 2022 | ​ | 497,642 | ​ | 32,051 | ​ | 529,693
​

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