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Net finance expense (Tables)

12 Months Ended

Dec. 31, 2023

Financial Instruments [Abstract]

Disclosure of net finance expense recognized in profit or loss


(in thousands of USD)						2023						2022						2021
Interest income						20,620						7,063						1,896
Income on recycling hedges from OCI into P&L						25,749						—						—
Change in fair value of fuel derivatives recognized in P&L						3,210						6,132						1,668
Foreign exchange gains						17,590						13,945						11,370
Finance income						67,168						27,140						14,934


Interest expense on financial liabilities measured at amortized cost						(132,268)						(85,418)						(57,961)
Interest leasing						(631)						(1,237)						(2,378)
Change in fair value of fuel derivatives recognized in P&L						(8,276)						(26,388)						(8,966)
Fair value adjustment on interest rate swaps						37						(507)						(78)
Other financial charges						(13,513)						(5,930)						(14,265)
Foreign exchange losses						(17,246)						(13,529)						(11,893)
Finance expense						(171,897)						(133,009)						(95,541)

Net finance expense recognized in profit or loss						(104,729)						(105,869)						(80,607)

Disclosure of finance income and expenses not at fair value through profit or loss


						2023						2022						2021
Total interest income on financial assets						46,368						7,063						1,896
Total interest expense on financial liabilities						(132,268)						(85,418)						(57,961)
Total interest leasing						(631)						(1,237)						(2,378)
Total other financial charges						(13,513)						(5,930)						(14,265)

Disclosure finance expense recognized directly in equity


(in thousands of USD)						2023						2022						2021
Foreign currency translation differences for foreign operations						259						(477)						(482)
Cash flow hedges - effective portion of changes in fair value						(6,164)						30,657						9,852

Net finance expense recognized directly in equity						(5,905)						30,180						9,370
Attributable to:
Owners of the Company						(5,905)						30,180						9,370
Net finance expense recognized directly in equity						(5,905)						30,180						9,370
Recognized in:
Translation reserve						259						(477)						(482)
Hedging reserve						(6,164)						30,657						9,852