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, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.67B | $1.83B | $811.22M | $874.10M | $827.86M | $368.39M | $346.48M | $302.31M | $326.78M |
| Cost of Revenue | $1.61B | $992.12M | $775.32M | $634.98M | $646.54M | $350.38M | $318.24M | $274.72M | $228.19M |
| Gross Profit | $1.06B | $840.42M | $35.89M | $239.12M | $181.31M | $18.01M | $28.24M | $27.59M | $98.58M |
| Gross Profit Ratio | 39.80% | 45.86% | 4.40% | 27.36% | 21.90% | 4.89% | 8.15% | 9.13% | 30.17% |
| Research and Development Expenses | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| General and Administrative Expenses | $25.69M | $- | $- | $9.33M | $6.26M | $3.54M | $3.71M | $3.70M | $3.45M |
| Selling and Marketing Expenses | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Selling General and Administrative Expenses | $25.69M | $- | $- | $9.33M | $6.26M | $3.54M | $3.71M | $3.70M | $3.45M |
| Other Expenses | $179.53M | $42.69M | $35.82M | $23.39M | $28.72M | $122.85M | $120.41M | $110.31M | $91.51M |
| Operating Expenses | $205.22M | $42.69M | $35.82M | $32.72M | $34.98M | $126.39M | $124.12M | $114.01M | $94.96M |
| Cost and Expenses | $1.81B | $1.03B | $811.14M | $667.69M | $681.52M | $350.38M | $318.24M | $274.72M | $228.19M |
| Interest Income | $17.63M | $6.98M | $2.35M | $2.01M | $3.69M | $257.00K | $104.00K | $117.00K | $41.00K |
| Interest Expense | $77.39M | $93.56M | $39.00M | $46.95M | $67.01M | $31.50M | $26.26M | $18.97M | $17.02M |
| Depreciation and Amortization | $211.03M | $209.22M | $151.68M | $156.44M | $131.50M | $56.87M | $54.18M | $59.58M | $57.11M |
| EBITDA | $1.09B | $1.06B | $139.58M | $354.82M | $271.26M | $68.61M | $83.43M | $-108.05M | $143.60M |
| EBITDA Ratio | 40.72% | 56.51% | 17.81% | 42.06% | 32.86% | 20.63% | 24.08% | 28.54% | 43.94% |
| Operating Income | $857.95M | $823.21M | $-7.16M | $193.57M | $145.60M | $19.15M | $29.89M | $26.70M | $86.48M |
| Operating Income Ratio | 32.11% | 44.92% | -0.88% | 22.14% | 17.59% | 5.20% | 8.63% | 8.83% | 26.47% |
| Total Other Income Expenses Net | $-58.42M | $-64.95M | $-46.25M | $-42.14M | $-72.85M | $-31.95M | $-26.90M | $-20.22M | $-18.64M |
| Income Before Tax | $799.53M | $758.27M | $-51.10M | $151.43M | $72.75M | $-19.76M | $2.98M | $-186.60M | $67.84M |
| Income Before Tax Ratio | 29.93% | 41.38% | -6.30% | 17.32% | 8.79% | -5.36% | 0.86% | -61.73% | 20.76% |
| Income Tax Expense | $6.25M | $6.68M | $4.39M | $2.65M | $1.01M | $24.00K | $20.00K | $6.00K | $29.00K |
| Net Income | $793.27M | $751.59M | $-55.49M | $148.78M | $71.73M | $-19.78M | $2.96M | $-186.61M | $67.81M |
| Net Income Ratio | 29.69% | 41.01% | -6.84% | 17.02% | 8.67% | -5.37% | 0.86% | -61.73% | 20.75% |
| EPS | $1.56 | $1.57 | $-0.15 | $0.41 | $0.21 | $-0.05 | $0.01 | $-0.50 | $0.18 |
| EPS Diluted | $1.56 | $1.54 | $-0.15 | $0.41 | $0.21 | $-0.05 | $0.01 | $-0.50 | $0.18 |
| Weighted Average Shares Outstanding | 508.51M | 477.89M | 363.13M | 364.36M | 347.05M | 370.24M | 370.24M | 370.24M | 370.24M |
| Weighted Average Shares Outstanding Diluted | 508.69M | 489.08M | 363.13M | 364.36M | 347.05M | 370.24M | 370.24M | 370.24M | 370.24M |
| SEC Filing | Source | Source | Source | Source | Source | Source | Source | Source | Source |
Balance Sheet
| Breakdown | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | $141.62M | $174.44M | $100.08M | $100.57M | $91.61M | $52.46M | $41.37M | $37.21M | $24.96M |
| Short Term Investments | $- | $- | $- | $- | $-29.58M | $- | $- | $- | $- |
| Cash and Short Term Investments | $141.62M | $174.44M | $100.08M | $100.57M | $91.61M | $52.46M | $41.37M | $37.21M | $24.96M |
| Net Receivables | $568.44M | $305.50M | $118.47M | $66.17M | $106.94M | $39.96M | $39.71M | $- | $- |
| Inventory | $107.70M | $10.09M | $6.66M | $5.23M | $6.99M | $22.66M | $14.56M | $10.84M | $7.29M |
| Other Current Assets | $115.08M | $304.92M | $117.77M | $108.72M | $129.28M | $24.00M | $17.54M | $52.85M | $88.42M |
| Total Current Assets | $932.84M | $848.30M | $342.98M | $280.78M | $334.82M | $139.08M | $113.18M | $100.90M | $120.67M |
| Property Plant Equipment Net | $2.78B | $2.88B | $2.08B | $2.21B | $2.31B | $1.17B | $1.11B | $1.04B | $1.24B |
| Goodwill | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Intangible Assets | $1.29M | $2.59M | $3.57M | $4.42M | $- | $- | $- | $- | $- |
| Goodwill and Intangible Assets | $1.29M | $2.59M | $3.57M | $4.42M | $3.16M | $- | $- | $- | $- |
| Long Term Investments | $84.12M | $- | $- | $- | $31.30M | $- | $- | $- | $- |
| Tax Assets | $- | $36.00K | $36.00K | $36.00K | $36.00K | $- | $- | $- | $- |
| Other Non-Current Assets | $118.07M | $191.36M | $79.62M | $52.23M | $100.00K | $3.16M | $505.00K | $- | $- |
| Total Non-Current Assets | $2.98B | $3.07B | $2.17B | $2.26B | $2.35B | $1.17B | $1.11B | $1.04B | $1.24B |
| Other Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Assets | $3.91B | $3.92B | $2.51B | $2.54B | $2.68B | $1.31B | $1.22B | $1.14B | $1.36B |
| Account Payables | $219.96M | $41.51M | $27.48M | $23.79M | $21.87M | $48.52M | $45.09M | $39.40M | $30.98M |
| Short Term Debt | $267.33M | $320.12M | $248.40M | $179.10M | $213.33M | $76.94M | $157.64M | $68.93M | $67.86M |
| Tax Payables | $8.11M | $4.74M | $2.02M | $2.07M | $1.42M | $27.00K | $15.00K | $- | $29.00K |
| Deferred Revenue | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Current Liabilities | $165.79M | $88.32M | $37.91M | $46.73M | $83.60M | $34.00K | $- | $- | $- |
| Total Current Liabilities | $661.19M | $454.68M | $315.80M | $251.69M | $320.22M | $125.52M | $202.75M | $108.33M | $98.88M |
| Long Term Debt | $1.03B | $1.46B | $1.08B | $1.14B | $1.24B | $613.04M | $614.24M | $661.34M | $702.84M |
| Deferred Revenue Non-Current | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Deferred Tax Liabilities Non-Current | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Non-Current Liabilities | $- | $- | $- | $- | $1.24M | $4.44M | $4.95M | $5.96M | $- |
| Total Non-Current Liabilities | $1.03B | $1.46B | $1.08B | $1.14B | $1.24B | $617.48M | $619.19M | $667.30M | $702.84M |
| Other Liabilities | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities | $1.69B | $1.91B | $1.40B | $1.40B | $1.56B | $743.00M | $821.94M | $775.63M | $801.71M |
| Preferred Stock | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Common Stock | $5.07M | $5.04M | $3.70M | $3.70M | $3.70M | $1.96M | $1.17M | $1.08M | $1.08M |
| Retained Earnings | $631.02M | $381.89M | $-125.95M | $-70.46M | $-120.92M | $-242.38M | $-217.74M | $-220.70M | $-34.09M |
| Accumulated Other Comprehensive Income Loss | $23.83M | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Total Stockholders Equity | $1.57B | $1.55B | $1.23B | $1.23B | $1.24B | $758.33M | $563.87M | $586.41M | $587.12M |
| Total Stockholders Equity | $2.23B | $2.01B | $1.11B | $1.15B | $1.12B | $571.08M | $397.82M | $366.79M | $554.11M |
| Total Equity | $2.23B | $2.01B | $1.11B | $1.15B | $1.12B | $571.08M | $397.82M | $366.79M | $554.11M |
| Total Liabilities and Stockholders Equity | $3.91B | $3.92B | $2.51B | $2.54B | $2.68B | $1.31B | $1.22B | $1.14B | $1.36B |
| Minority Interest | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities and Total Equity | $3.91B | $3.92B | $2.51B | $2.54B | $2.68B | $1.31B | $1.22B | $1.14B | $1.36B |
| Total Investments | $84.12M | $43.18M | $18.72M | $6.77M | $1.72M | $- | $- | $- | $- |
| Total Debt | $1.29B | $1.78B | $1.33B | $1.31B | $1.45B | $689.98M | $771.87M | $730.27M | $770.70M |
| Net Debt | $1.15B | $1.60B | $1.23B | $1.21B | $1.36B | $637.52M | $730.50M | $693.07M | $745.74M |
Cash Flow Statement
| Breakdown | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|
| Net Income | $793.27M | $751.59M | $-55.49M | $148.78M | $71.73M | $-19.78M | $2.96M | $-186.61M | $67.81M |
| Depreciation and Amortization | $211.03M | $209.22M | $151.68M | $156.44M | $131.50M | $56.87M | $54.18M | $59.58M | $46.63M |
| Deferred Income Tax | $6.54M | $-47.94M | $11.15M | $8.46M | $561.00K | $- | $- | $- | $- |
| Stock Based Compensation | $2.82M | $1.76M | $3.15M | $1.18M | $823.00K | $- | $- | $- | $- |
| Change in Working Capital | $48.72M | $-274.27M | $-44.02M | $36.45M | $-36.35M | $-15.38M | $-1.31M | $12.77M | $-11.23M |
| Accounts Receivables | $-139.17M | $- | $- | $- | $- | $- | $- | $- | $- |
| Inventory | $-17.77M | $-265.00K | $-1.43M | $1.76M | $21.11M | $-8.10M | $-3.72M | $-3.55M | $1.32M |
| Accounts Payables | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Working Capital | $205.66M | $-274.01M | $-42.59M | $34.69M | $-57.46M | $-7.28M | $2.41M | $16.32M | $-12.55M |
| Other Non Cash Items | $-1.58M | $89.10M | $39.98M | $47.17M | $74.12M | $37.96M | $25.52M | $214.17M | $30.77M |
| Net Cash Provided by Operating Activities | $1.06B | $729.45M | $106.44M | $398.47M | $242.39M | $59.67M | $81.36M | $99.90M | $133.99M |
| Investments in Property Plant and Equipment | $-184.39M | $-447.38M | $-27.03M | $-48.60M | $-278.57M | $-17.25M | $-117.92M | $-111.67M | $-293.78M |
| Acquisitions Net | $-2.24M | $18.26M | $-10.21M | $- | $-3.43M | $- | $- | $- | $67.00K |
| Purchases of Investments | $-10.41M | $-324.00K | $-3.50M | $- | $- | $- | $- | $- | $- |
| Sales Maturities of Investments | $- | $248.00K | $-5.00M | $- | $- | $- | $- | $- | $- |
| Other Investing Activities | $165.37M | $239.25M | $-2.13M | $-1.96M | $14.00K | $257.00K | $104.00K | $60.02M | $41.00K |
| Net Cash Used for Investing Activities | $-31.67M | $-189.95M | $-47.88M | $-50.56M | $-281.99M | $-16.99M | $-117.82M | $-51.65M | $-293.67M |
| Debt Repayment | $-457.62M | $-207.29M | $-39.56M | $-181.94M | $78.22M | $-47.01M | $41.21M | $-15.37M | $131.21M |
| Common Stock Issued | $9.29M | $99.24M | $- | $- | $72.01M | $46.00M | $26.85M | $- | $55.55M |
| Common Stock Repurchased | $- | $- | $- | $-12.64M | $-500.00K | $- | $- | $- | $- |
| Dividends Paid | $-544.14M | $-243.75M | $- | $-98.32M | $- | $- | $- | $- | $- |
| Other Financing Activities | $-85.18M | $-14.10M | $-19.59M | $-45.96M | $-104.52M | $15.43M | $-590.00K | $-20.64M | $-32.63M |
| Net Cash Used Provided by Financing Activities | $-1.09B | $-465.13M | $-59.15M | $-338.86M | $45.22M | $-31.59M | $40.62M | $-36.00M | $154.13M |
| Effect of Forex Changes on Cash | $-10.00K | $- | $- | $- | $33.54M | $- | $- | $- | $- |
| Net Change in Cash | $-57.80M | $74.36M | $-596.00K | $9.06M | $39.15M | $11.09M | $4.16M | $12.25M | $-5.56M |
| Cash at End of Period | $222.52M | $174.44M | $100.08M | $100.67M | $91.61M | $52.46M | $41.37M | $37.21M | $24.96M |
| Cash at Beginning of Period | $280.32M | $100.08M | $100.67M | $91.61M | $52.46M | $41.37M | $37.21M | $24.96M | $30.52M |
| Operating Cash Flow | $1.06B | $729.45M | $106.44M | $398.47M | $242.39M | $59.67M | $81.36M | $99.90M | $133.99M |
| Capital Expenditure | $-184.39M | $-447.38M | $-27.03M | $-48.60M | $-278.57M | $-17.25M | $-117.92M | $-111.67M | $-293.78M |
| Free Cash Flow | $876.41M | $282.06M | $79.41M | $349.88M | $-36.19M | $42.42M | $-36.56M | $-11.77M | $-159.79M |