Hf. Eimskipafélag Íslands - Financial Overview of first nine months of 2007 • Operating revenues of EUR 1,184 million • Operating expenses of EUR 1,128 million • EBITDA EUR 100 million - EBIT EUR 31 million • Net gain EUR 9 million • Total assets EUR 1,946 million • Working capital from operating activities EUR 40 million • Total equity at 31 of July EUR 569 million - equity ratio 29% • Current ratio 1 Baldur Gudnason, CEO of Eimskip: “Eimskip's financial performance in the first nine months, ended 31 of July 2007, was in line with management's expectations. Turnover for the first nine months of the year is approximately EUR 1,184 million and EBITDA was EUR 100 million. Thereof EUR 92 million are generated from the shipping and logistics activities while the avation units generated EUR 8 million. Operations continue to be characterised by steady growth, both in revenues and profits. EBITDA margin was 6,2% in 2006 and has increased to 9% in third quarter 2007. Much effort has been put into integration and restructuring of new units within the Group. Eimskip has become the largest coldstore company in the world with approximately 200 coldstores in five continents. Eimskip aims to grow further in transportation, shipping and coldstores globally and focuses on further opportunities in that area. Our long term strategy is to build a worldwide network of temperature controlled transportation and warehousing services. We have simplified our operations and focus on further growth in temperature controlled transportation and storage. We are currently a key international player in this field and we strive to seize an increased share in the upcoming growth of the industry.”
Financial results in the third quarter 2007 in line with expectations
| Source: Hf. Eimskipafélag Íslands