First quarter results in line with expectations
Hf. Eimskipafélag Íslands - Financial Overview of the first quarter 2007
" Operating revenues of EUR 399 million
" Operating expenses of EUR 388 million
" EBITDA EUR 32 million - EBIT EUR 11 million
" Pre-tax loss EUR 7 million
" Net loss EUR 6 million
" Total assets EUR 1,873 million
" Working capital from operating activities EUR 3 million
" Total equity at January 31 EUR 539 million - equity ratio 29%
" Current ratio 0.95
" Financial statements are being published in EUR as of November 1 2006
Magnús Þorsteinsson, Executive Chairman:
"In the first three months of the financial year 2007, the group's financial performance was in line with management's expectations. The group's EBITDA is EUR 32 million, which is almost a quarter of our estimates for the financial year of 2007. This is an important milestone for the group since as a rule, the first quarter is generally the worst performing quarter."
