| USD '000 | Notes | 2009 | 2008 | ||
| Gross freight revenue | 45 865 | 63 878 | |||
| Operating revenue construction services | 12 | 62 170 | 74 772 | ||
| Revenue | 108 035 | 138 650 | |||
| Share of investments in strategic joint ventures/ associates | 7 | 11 606 | 22 500 | ||
| Voyage related expenses incl. marketing | 6 | (13 004) | (17 912) | ||
| Time-charter hire | (3 599) | (1 466) | |||
| Cost of goods sold - construction services | 12 | (62 692) | (71 416) | ||
| Salaries and social expenses | 6 | (13 081) | (14 283) | ||
| Depreciation and amortisation | 11 | (7 972) | (8 397) | ||
| Other operating expenses - vessels | 6 |
(10 502) | (10 651) | ||
| Other operating expenses/administration costs | (4 943) | (7 361) | |||
| Operating profit | 3 848 | 29 664 | |||
| Share of investments in non-strategic joint ventures/ associates | 7 | (7 165) | (2 568) | ||
| Financial revenue | 6 |
354 | 2 151 | ||
| Financial expenses | 6 | (13 171) | (18 750) | ||
| Exchange gain/(losses) | 6 105 | (2 215) | |||
| Net result before taxes | (10 029) | 8 282 | |||
| Income taxes | 19 | (116) | (334) | ||
| Net result for the year | (10 145) | 7 948 | |||
| Attributable to: | |||||
| Minority interests | (41) | (58) | |||
| Equity holders of the company | (10 104) | 8 006 | |||
| Earnings per share for net result attributable to the equity holder of the company: |
|||||
| Earnings per share - basic and diluted | 20 | (0.37) | 0.29 | ||
The notes 1-23 are an integral part of these consolidated financial statements |