Overview of Financial Statements
Financial statements are records that provide an overview of a company's financial performance and position. There are three main types of financial statements:
- Income Statement: Shows the company's revenue, expenses, and profit over a specific period.
- Balance Sheet: Provides a snapshot of the company's assets, liabilities, and equity at a specific point in time.
- Cash Flow Statement: Details the cash inflows and outflows from operating, investing, and financing activities over a period.
This page presents both annual and quarterly data for these financial statements. The charts below provide a visual representation of the key metrics from each statement, helping you to quickly understand the financial health of Hafnia.
Income Statement
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.87B | $2.67B | $1.89B | $790.00M | $961.03M | $829.27M | $346.27M | $350.16M | $189.97M |
| Cost of Revenue | $1.80B | $1.61B | $1.09B | $770.64M | $716.47M | $663.11M | $329.34M | $321.62M | $150.51M |
| Gross Profit | $1.06B | $1.06B | $801.13M | $19.36M | $244.56M | $166.16M | $16.93M | $28.54M | $39.46M |
| Gross Profit Ratio | 37.12% | 39.79% | 42.40% | 2.50% | 25.45% | 20.04% | 4.89% | 8.15% | 20.77% |
| Research and Development Expenses | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| General and Administrative Expenses | $28.17M | $25.69M | $23.63M | $16.01M | $9.33M | $6.26M | $- | $- | $- |
| Selling and Marketing Expenses | $- | $- | $34.76M | $25.84M | $33.55M | $25.68M | $- | $- | $- |
| Selling General and Administrative Expenses | $28.17M | $25.69M | $58.38M | $41.86M | $42.89M | $31.93M | $- | $9.73M | $11.64M |
| Other Expenses | $230.84M | $179.53M | $- | $- | $25.26M | $12.36M | $1.49M | $11.39M | $- |
| Operating Expenses | $259.01M | $205.22M | $58.38M | $41.86M | $17.63M | $19.58M | $-1.49M | $-1.66M | $11.64M |
| Cost and Expenses | $2.06B | $1.81B | $1.15B | $812.50M | $734.10M | $682.68M | $327.86M | $319.96M | $162.15M |
| Interest Income | $- | $17.63M | $6.98M | $2.35M | $2.01M | $3.82M | $241.57K | $105.11K | $587.89K |
| Interest Expense | $- | $77.39M | $91.09M | $39.00M | $46.95M | $77.53M | $30.27M | $27.30M | $20.80M |
| Depreciation and Amortization | $215.11M | $218.99M | $205.21M | $147.71M | $172.00M | $131.73M | $53.45M | $54.76M | $47.41M |
| EBITDA | $992.32M | $1.13B | $947.96M | $125.22M | $387.04M | $281.28M | $65.15M | $83.43M | $-108.05M |
| EBITDA Ratio | 34.59% | 42.21% | 50.17% | 15.85% | 41.51% | 33.56% | 20.75% | 24.26% | 39.60% |
| Operating Income | $805.73M | $857.95M | $742.75M | $-22.49M | $226.93M | $146.58M | $18.42M | $30.20M | $27.83M |
| Operating Income Ratio | 28.09% | 32.11% | 39.31% | -2.85% | 23.61% | 17.68% | 5.32% | 8.63% | 14.65% |
| Total Other Income Expenses Net | $-27.27M | $-58.42M | $-64.95M | $-28.61M | $-42.14M | $-72.85M | $-31.95M | $-26.90M | $-214.43M |
| Income Before Tax | $778.45M | $799.53M | $720.04M | $-48.04M | $160.96M | $72.02M | $-18.57M | $3.01M | $11.91M |
| Income Before Tax Ratio | 27.14% | 29.93% | 38.11% | -6.08% | 16.75% | 8.68% | -5.36% | 0.86% | 6.27% |
| Income Tax Expense | $4.42M | $6.25M | $6.55M | $4.28M | $2.92M | $1.02M | $22.56K | $20.21K | $1.08M |
| Net Income | $774.03M | $793.27M | $751.59M | $-54.04M | $148.78M | $71.86M | $-18.59M | $2.99M | $7.61M |
| Net Income Ratio | 26.98% | 29.69% | 39.77% | -6.84% | 15.48% | 8.67% | -5.37% | 0.86% | 4.01% |
| EPS | $1.50 | $1.57 | $1.54 | $-0.15 | $0.45 | $0.21 | $-0.15 | $0.03 | $0.22 |
| EPS Diluted | $1.50 | $1.56 | $1.51 | $-0.15 | $0.45 | $0.21 | $-0.15 | $0.03 | $0.22 |
| Weighted Average Shares Outstanding | 516.02M | 505.14M | 477.89M | 363.13M | 364.36M | 347.05M | 122.49M | 109.63M | 33.91M |
| Weighted Average Shares Outstanding Diluted | 515.11M | 508.69M | 489.08M | 363.13M | 364.36M | 349.80M | 122.49M | 109.63M | 33.91M |
| SEC Filing | Source | Source | Source | Source | Source | Source | Source | Source | Source |
Balance Sheet
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | $195.27M | $141.62M | $281.53M | $99.95M | $100.67M | $91.61M | $52.46M | $41.37M | $95.49M |
| Short Term Investments | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Cash and Short Term Investments | $195.27M | $141.62M | $281.53M | $99.95M | $100.67M | $91.61M | $52.46M | $41.37M | $95.49M |
| Net Receivables | $536.54M | $566.75M | $483.58M | $226.42M | $66.17M | $106.94M | $58.47M | $39.71M | $13.35M |
| Inventory | $94.16M | $107.70M | $90.32M | $6.65M | $5.23M | $6.99M | $22.66M | $14.56M | $4.48M |
| Other Current Assets | $106.82M | $115.08M | $304.92M | $201.77M | $108.72M | $129.28M | $5.49M | $17.54M | $7.21M |
| Total Current Assets | $932.79M | $932.84M | $878.56M | $342.54M | $280.78M | $334.82M | $139.08M | $113.18M | $120.54M |
| Property Plant Equipment Net | $2.61B | $2.78B | $2.89B | $2.08B | $2.21B | $2.31B | $1.17B | $1.11B | $1.01B |
| Goodwill | $- | $- | $- | $- | $- | $-100.00K | $- | $- | $6.00M |
| Intangible Assets | $510.00K | $1.29M | $2.59M | $3.57M | $4.42M | $3.16M | $- | $- | $- |
| Goodwill and Intangible Assets | $510.00K | $1.29M | $2.59M | $3.57M | $4.42M | $3.06M | $- | $- | $6.00M |
| Long Term Investments | $104.44M | $84.12M | $192.19M | $79.52M | $52.23M | $31.30M | $3.16M | $505.00K | $1.94M |
| Tax Assets | $- | $36.00K | $36.16K | $35.95K | $36.00K | $36.00K | $- | $58.00K | $93.00K |
| Other Non-Current Assets | $89.70M | $118.03M | $11.16K | $-4.49K | $- | $100.00K | $- | $-58.00K | $26.64M |
| Total Non-Current Assets | $2.80B | $2.98B | $3.08B | $2.17B | $2.26B | $2.35B | $1.17B | $1.11B | $1.04B |
| Other Assets | $- | $- | $1 | $- | $- | $- | $- | $- | $- |
| Total Assets | $3.73B | $3.91B | $3.96B | $2.51B | $2.54B | $2.68B | $1.31B | $1.22B | $1.16B |
| Account Payables | $345.55M | $219.96M | $41.51M | $94.93M | $23.79M | $21.87M | $48.52M | $45.09M | $1.78M |
| Short Term Debt | $336.30M | $267.33M | $320.12M | $248.37M | $179.10M | $213.33M | $76.94M | $157.63M | $47.71M |
| Tax Payables | $- | $8.09M | $4.76M | $2.02M | $2.07M | $1.42M | $27.00K | $15.00K | $47.00K |
| Deferred Revenue | $- | $- | $4.76M | $2.02M | $2.07M | $- | $27.00K | $1.10M | $1.21M |
| Other Current Liabilities | $4.70M | $165.82M | $116.86M | $-29.91M | $46.73M | $83.60M | $7.00K | $6.00K | $58.79M |
| Total Current Liabilities | $686.54M | $661.19M | $483.24M | $315.41M | $251.69M | $320.22M | $125.52M | $202.75M | $60.53M |
| Long Term Debt | $785.95M | $1.03B | $1.46B | $1.08B | $1.14B | $1.23B | $613.04M | $614.24M | $496.80M |
| Deferred Revenue Non-Current | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Deferred Tax Liabilities Non-Current | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Non-Current Liabilities | $- | $- | $6.27M | $-1.36M | $- | $7.75M | $4.44M | $4.95M | $639.00K |
| Total Non-Current Liabilities | $785.95M | $1.03B | $1.46B | $1.08B | $1.14B | $1.24B | $617.48M | $619.19M | $497.44M |
| Other Liabilities | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities | $1.47B | $1.69B | $1.94B | $1.40B | $1.40B | $1.56B | $743.00M | $821.94M | $557.97M |
| Preferred Stock | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Common Stock | $1.63B | $5.07M | $5.06M | $3.70M | $3.70M | $3.70M | $1.96M | $1.17M | $339.00K |
| Retained Earnings | $705.18M | $631.02M | $383.53M | $-125.80M | $-70.46M | $-120.92M | $-242.38M | $-217.74M | $42.70M |
| Accumulated Other Comprehensive Income Loss | $-19.40M | $27.54M | $73.97M | $5.14M | $-14.15M | $-5.72M | $53.17M | $50.48M | $-507.00K |
| Other Total Stockholders Equity | $-53.44M | $1.56B | $1.56B | $1.23B | $1.23B | $1.24B | $758.33M | $563.91M | $614.32M |
| Total Stockholders Equity | $2.26B | $2.23B | $2.02B | $1.11B | $1.15B | $1.12B | $571.08M | $397.82M | $394.70M |
| Total Equity | $2.26B | $2.23B | $2.02B | $1.11B | $1.15B | $1.12B | $571.08M | $397.82M | $603.61M |
| Total Liabilities and Stockholders Equity | $3.73B | $3.91B | $3.96B | $2.51B | $2.54B | $2.68B | $1.31B | $1.22B | $1.16B |
| Minority Interest | $- | $- | $- | $- | $- | $- | $- | $- | $208.91M |
| Total Liabilities and Total Equity | $3.73B | $3.91B | $3.96B | $2.51B | $2.54B | $2.68B | $1.31B | $1.22B | $1.16B |
| Total Investments | $104.44M | $84.12M | $192.19M | $79.52M | $52.23M | $31.30M | $3.16M | $505.00K | $1.94M |
| Total Debt | $1.12B | $1.29B | $1.78B | $1.33B | $1.31B | $1.45B | $689.98M | $771.87M | $544.52M |
| Net Debt | $926.98M | $1.15B | $1.50B | $1.23B | $1.21B | $1.36B | $637.52M | $730.50M | $449.03M |
Cash Flow Statement
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|
| Net Income | $774.03M | $793.27M | $737.18M | $-54.04M | $163.57M | $71.86M | $-18.59M | $2.99M | $7.61M |
| Depreciation and Amortization | $215.11M | $211.03M | $205.21M | $147.71M | $172.00M | $131.73M | $53.45M | $54.76M | $47.41M |
| Deferred Income Tax | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Stock Based Compensation | $2.96M | $2.82M | $1.76M | $3.15M | $1.18M | $823.00K | $- | $- | $- |
| Change in Working Capital | $61.05M | $48.72M | $-228.37M | $-42.87M | $40.07M | $-36.41M | $-14.45M | $-1.32M | $1.02M |
| Accounts Receivables | $53.41M | $-144.42M | $-254.64M | $-36.48M | $77.77M | $-83.45M | $-10.84M | $-4.43M | $2.88M |
| Inventory | $13.55M | $-18.44M | $-15.78M | $-1.40M | $1.93M | $21.14M | $-7.61M | $-3.76M | $11.71K |
| Accounts Payables | $- | $213.43M | $42.05M | $-4.99M | $-39.63M | $25.89M | $4.00M | $6.87M | $-1.64M |
| Other Working Capital | $-5.92M | $-1.84M | $- | $- | $- | $- | $- | $-1.93M | $-240.02K |
| Other Non Cash Items | $-22.79M | $4.96M | $595.14M | $354.67M | $326.58M | $319.99M | $128.54M | $110.36M | $102.73M |
| Net Cash Provided by Operating Activities | $1.03B | $1.06B | $670.36M | $67.17M | $398.29M | $187.29M | $27.59M | $55.96M | $65.21M |
| Investments in Property Plant and Equipment | $-49.60M | $-184.39M | $-438.80M | $-26.32M | $-53.43M | $-279.05M | $-16.21M | $-119.18M | $-102.98M |
| Acquisitions Net | $- | $- | $270.60M | $28.43M | $13.08M | $6.38M | $- | $- | $- |
| Purchases of Investments | $- | $-10.41M | $-13.38M | $-26.50M | $-16.14M | $-53.24M | $- | $- | $- |
| Sales Maturities of Investments | $- | $- | $- | $- | $- | $39.97M | $- | $- | $- |
| Other Investing Activities | $79.49M | $163.13M | $20.08M | $-23.08M | $-14.68M | $-425.00K | $- | $- | $- |
| Net Cash Used for Investing Activities | $29.89M | $-31.67M | $-181.58M | $-47.48M | $-56.49M | $-285.95M | $-16.21M | $-119.18M | $-102.98M |
| Debt Repayment | $-200.33M | $-457.62M | $5.05M | $18.96M | $-123.27M | $78.22M | $-44.19M | $56.34M | $43.25M |
| Common Stock Issued | $- | $9.29M | $99.24M | $- | $- | $72.01M | $46.00M | $26.85M | $- |
| Common Stock Repurchased | $-49.16M | $- | $- | $- | $-12.64M | $-500.00K | $- | $- | $-56.59K |
| Dividends Paid | $-699.88M | $-544.14M | $-239.07M | $- | $-108.10M | $- | $- | $- | $-30.20M |
| Other Financing Activities | $-49.84M | $-94.47M | $-125.89M | $-78.11M | $-94.85M | $-45.46M | $-33.40M | $-42.56M | $-32.16M |
| Net Cash Used Provided by Financing Activities | $-999.21M | $-1.09B | $-364.59M | $-20.27M | $-331.85M | $104.28M | $-953.12K | $67.43M | $11.09M |
| Effect of Forex Changes on Cash | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Net Change in Cash | $61.05M | $-57.80M | $181.58M | $-721.79K | $9.06M | $39.15M | $11.09M | $-54.12M | $-26.68M |
| Cash at End of Period | $283.57M | $222.52M | $281.53M | $99.95M | $100.67M | $91.61M | $52.46M | $41.37M | $95.49M |
| Cash at Beginning of Period | $222.52M | $280.32M | $99.95M | $100.67M | $91.61M | $52.46M | $41.37M | $95.49M | $122.17M |
| Operating Cash Flow | $1.03B | $1.06B | $670.36M | $67.17M | $398.29M | $187.29M | $27.59M | $55.96M | $65.21M |
| Capital Expenditure | $-49.60M | $-184.39M | $-438.80M | $-26.32M | $-53.43M | $-279.05M | $-16.21M | $-119.18M | $-102.98M |
| Free Cash Flow | $980.76M | $876.41M | $231.57M | $40.85M | $344.86M | $-91.76M | $11.38M | $-63.22M | $-37.77M |