Profit for the Quarter € 2.3 million
First Quarter Financial Highlights 2007
• Sales € 385.2 million
• Growth in income was 1%. External growth was 8%
• Earnings before interest, taxes and depreciation, (EBITDA) amounted to € 14.2
million
• Operating profit (EBIT) € 9.5 million
• Net earnings amounted to € 2.3 million
• Cash provided by operation before taxes and interest amounted to € 10.7
million
• Total assets amounted to € 911.7 million - equity ratio 19.4%
• Return on equity 5.3%
Icelandic Group CEO Björgólfur Jóhannsson, commented:
“We see considerable changes for the better in the operations compared to the
same period last year. The company sales are similar but costs have decreased
considerably, which is very positive. The main operations we have been working
on since the first year quarter 2006 are showing good results and will prove
even more profitable in the coming months. Many difficult decisions have been
taken within the Group and we now consider ourselves to be in the position to
reach even better results in the future. The results for the first quarter are
in line with budget, the company operations fluctuate from quarter to quarter
and we are fully confident that we have the capacity to reach the budgeted
EBITDA for the year”.
