XML 281 R5.htm IDEA: XBRL DOCUMENT v3.24.1
Consolidated Statement of Cash Flows - EUR (€)
€ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flow from operating activities      
Profit for the period € 11,498 € 35,541 € 7,451
Adjustments for:      
Depreciation and amortisation 23,048 22,684 16,479
Impairment of fixed assets 5,000    
Interest expenses 1,898 923 4,506
Other operating income and expenses, net (137)    
Fair value change of derivatives instruments through profit or loss 766    
Share-based payment expenses 1,134 352 (321)
Cash flows from operations before changes in working capital 43,207 59,500 28,115
Changes in working capital:      
Inventories (1,140) (109) (128)
Trade receivables and contract assets 28,541 (18,029) (9,883)
Trade and other payables (16,087) 660 2,448
Receivables from related parties     7,463
Payables to related parties 73 26 (5,319)
Deferred charter hire income 8,787 (12,999) 7,346
Net change in working capital 20,174 (30,451) 1,927
Income tax paid 2 (13) 158
Net cash provided by operating activities 63,383 29,036 30,200
Cash flow from investing activities      
Cash acquired in a business combination, net 10,403    
Additions to property, plant and equipment (66,899) (224,606) (162,941)
Disposal of property, plant and equipment 1,800    
Additions to intangibles (31) (228) (434)
Movement to right of use assets   (574)  
Net cash (used in) investing activities (54,727) (225,408) (163,375)
Cash flow from financing activities      
Principal repayment of lease liabilities (569) (228) (285)
Interest paid (7,143) (4,234) (3,930)
Proceeds from issue of share capital   183,250 79,218
Transaction costs on issues of shares (6,955) (5,174) (2,154)
Proceeds from borrowing net of bank fees 199,935 113,459  
Proceeds from overdraft   16,067 8,998
Repayment of loan (115,000) (65,000) (10,000)
Repayment of overdraft   (25,065)  
Net cash provided by financing activities 70,268 213,075 71,847
Net increase/(decrease) in cash and cash equivalents 78,924 16,704 (61,328)
Cash and cash equivalents at beginning of the period 19,012 2,308 63,636
Net foreign exchange difference (1,328)    
Cash and cash equivalents at end of the period € 96,608 € 19,012 € 2,308