Restated 1) | |||
USD millions | Notes | 2024 | 2023 |
Revenue | 2.1, 2.3 | ||
Other income and commodity derivative gain/(loss) | 2.2, 4.9 | ||
Revenue and other income | |||
Raw materials, energy costs and freight expenses | 2.4, 4.9 | ( | ( |
Change in inventories of own products | ( | ||
Payroll and related costs | 2.5, 7.3, 5.3 | ( | ( |
Depreciation and amortization | 4.1, 4.2, 4.5 | ( | ( |
Impairment loss | 4.7 | ( | ( |
Expected and realized credit loss on trade receivables | 3.2 | ( | ( |
Other operating expenses | 2.6, 4.9, 7.4 | ( | ( |
Operating costs and expenses | ( | ( | |
Operating income/(loss) | |||
Share of net income/(loss) in equity-accounted investees | 4.3 | ||
Interest income and other financial income | 2.7 | ||
Foreign currency exchange gain/(loss) | 2.7, 6.1 | ( | ( |
Interest expense and other financial items | 2.7 | ( | ( |
Income/(loss) before tax | |||
Income tax expense | 2.8 | ( | ( |
Net income/(loss) |
Restated 1) | |||
USD millions, except share information | Notes | 2024 | 2023 |
Net income/(loss) attributable to Shareholders of the parent | |||
Non-controlling interests | |||
Net income/(loss) | |||
Basic earnings/(loss) per share | |||
Diluted earnings/(loss) per share 2) | |||
Weighted average number of shares outstanding | 5.1 |
USD millions | Notes | 2024 | 2023 |
Net income/(loss) | |||
Other comprehensive income/(loss) that may be reclassified to statement of income in subsequent periods, net of tax | |||
Currency translation adjustments | ( | ||
Hedge of net investments | 2.8, 6.2 | ( | ( |
Net other comprehensive income/(loss) that may be reclassified to statement of income in subsequent periods, net of tax | ( | ||
Other comprehensive income/(loss) that will not be reclassified to statement of income in subsequent periods, net of tax | |||
Currency translation adjustments 1) | ( | ||
Net gain/(loss) on equity instruments at fair value through other comprehensive income | 6.3 | ( | |
Remeasurement gains/(losses) on defined benefit plans | 2.8, 5.3 | ||
Net other comprehensive income/(loss) that will not be reclassified to statement of income in subsequent periods, net of tax | ( | ||
Total other comprehensive income/(loss), net of tax | ( | ||
Total comprehensive income/(loss) | ( | ||
Total comprehensive income/(loss) attributable to Shareholders of the parent | ( | ||
Non-controlling interests | ( | ||
Total comprehensive income/(loss) | ( |
Fair value | ||||||||||||
Premium | Currency | reserve of | Other | Attributable to | ||||||||
paid-in | translation | financial assets | Hedge of net | components | Total other | Retained | share holders of | Non-controlling | Total | |||
USD millions | Notes | Share Capital 1) | capital | adjustments | at FVOCI | investments | of equity 2) | reserves | earnings | the parent | interests | equity |
Balance at 31 December 2022 | ( | ( | ( | ( | ( | |||||||
Net income/(loss) | ||||||||||||
Total other comprehensive income/(loss) | ( | ( | ( | |||||||||
Total comprehensive income/(loss) | ( | ( | ||||||||||
Transactions with non-controlling interests | ||||||||||||
Dividends distributed | 5.1 | ( | ( | ( | ( | |||||||
Balance at 31 December 2023 | ( | ( | ( | ( | ( | ( | ||||||
Net income/(loss) | ||||||||||||
Total other comprehensive income/(loss) | ( | ( | ( | ( | ( | ( | ||||||
Total comprehensive income/(loss) | ( | ( | ( | ( | ( | ( | ||||||
Dividends distributed | 5.1 | ( | ( | ( | ( | |||||||
Balance at 31 December 2024 | ( | ( | ( | ( | ( |
USD millions | Notes | 31 Dec 2024 | 31 Dec 2023 |
Assets | |||
Non-current assets | |||
Deferred tax assets | 2.8 | ||
Goodwill | 4.2, 4.7 | ||
Intangible assets other than goodwill | 4.2 | ||
Property, plant and equipment | 4.1, 4.7, 4.9 | ||
Right-of-use assets | 4.5 | ||
Associated companies and joint ventures | 4.3 | ||
Other non-current financial assets | 4.6 | ||
Other non-current non-financial assets | 4.6, 4.9 | ||
Total non-current assets | |||
Current assets | |||
Inventories | 3.1 | ||
Trade receivables | 3.2 | ||
Other current financial assets | 3.3 | ||
Prepaid expenses and other current non-financial assets | 3.3 | ||
Cash and cash equivalents | 3.4 | ||
Non-current assets and disposal group classified as held for sale | 7.1 | ||
Total current assets | |||
Total assets |
USD millions | Notes | 31 Dec 2024 | 31 Dec 2023 |
Equity and liabilities | |||
Equity | |||
Share capital | 5.1 | ||
Premium paid-in capital | ( | ( | |
Total paid-in capital | |||
Other reserves | ( | ( | |
Retained earnings | |||
Total equity attributable to shareholders of the parent | |||
Non-controlling interests | |||
Total equity | |||
Non-current liabilities | |||
Employee benefits | 5.3 | ||
Deferred tax liabilities | 2.8 | ||
Interest-bearing debt | 5.2 | ||
Other non-current financial liabilities | 6.3 | ||
Other non-current non-financial liabilities | |||
Non-current provisions | 5.5 | ||
Non-current lease liabilities | 4.5 | ||
Total non-current liabilities |
USD millions, except share information | Notes | 31 Dec 2024 | 31 Dec 2023 |
Current liabilities | |||
Trade and other current payables | 5.4 | ||
Prepayments from customers | 2.1 | ||
Current tax liabilities | 2.8 | ||
Current provisions | 5.5 | ||
Other current financial liabilities | 6.3 | ||
Other current non-financial liabilities | |||
Interest-bearing debt | 5.2 | ||
Current lease liabilities | 4.5 | ||
Liabilities associated with non-current assets and disposal group | |||
classified as held for sale | 7.1 | ||
Total current liabilities | |||
Total equity and liabilities | |||
Number of shares outstanding | 5.1 |
USD millions | Notes | 2024 | 2023 |
Operating activities | |||
Income/(loss) before tax | |||
Adjustments to reconcile income/(loss) before tax to net | |||
cash provided by/(used in) operating activities | |||
Depreciation and amortization | 4.1, 4.2, 4.5 | ||
Impairment loss | 4.7 | ||
Write-down of inventory and trade receivables | ( | ( | |
(Gain)/loss on disposal of non-current assets | 4.1, 4.2 | ( | ( |
Foreign currency exchange (gain)/loss | |||
Finance income and expense 1) | |||
Income taxes paid | ( | ( | |
Dividends | 4.3 | ||
Interest paid 2) | ( | ( | |
Interest received 1) | |||
Other Working capital changes that provided/(used) cash | 5.3 | ( | |
Trade receivables | |||
Inventories | ( | ||
Prepaid expenses and other current assets | |||
Trade and other payables | ( | ( | |
Prepaid from customers | ( | ||
Other interest-free liabilities | ( | ( | |
Net cash provided by/(used in) operating activities |
USD millions | Notes | 2024 | 2023 |
Investing activities | |||
Purchase of property, plant and equipment | 4.1 | ( | ( |
Proceeds from sales of property, plant and equipment | |||
Disposal of subsidiaries, net of cash transferred | ( | ||
Acquisition of subsidiaries, net of cash acquired | ( | ( | |
Purchase of other non-current assets | 4.2 | ( | ( |
Proceeds from sales of other non-current assets | 4.3 | ||
Net cash provided by/(used in) investing activities | ( | ( | |
Financing activities | |||
Loan proceeds 3) | 5.2 | ||
Principal payments 3) | 5.2 | ( | ( |
Payment of lease liabilities | 4.5 | ( | ( |
Dividends paid | 5.1 | ( | ( |
Other inflows/(outflows) of cash | ( | ||
Net cash provided by/(used in) financing activities | ( | ( | |
Foreign currency effects on cash and cash equivalents | ( | ( | |
Net increase/(decrease) in cash and cash equivalents | ( | ( | |
Cash and cash equivalents at 1 January | |||
Cash and cash equivalents at 31 December 4) | 3.4 | ||
Of which cash and cash equivalents in assets held for sale at 31 December | |||
Cash and cash equivalents in continuing operations at 31 December | |||
Bank deposits not available for the use by the Group | 3.4 |