Profit at Skipti hf ISK 3.3 billion for first nine months of 2007
• Sales rose by ISK 6 b compared with last year, an increase of 33%.
• Nine-month profit came to ISK 3.3 b, against a loss of ISK 3.1 b for the same
period in 2006.
• EBITDA amounted to ISK 7.0 b, with the EBITDA ratio at 29%.
• Cash provided by operations, excluding interest and tax, came to ISK 7.0 b.
• The equity ratio of Skipti hf. is 35%.
• The Danish telecommunication company Business Phone was acquired in August.
• Skipti has approved a purchase offer by Exista Properties for
Fasteignafélagið Jörfi ehf. Profit on the sale will amount to ISK 1.3 b
after tax.
Brynjólfur Bjarnason, CEO of Siminn and Skipti:
“The Group's results for the period are extremely good, both in
telecommunications and IT. Skipti will continue to build up its operations
overseas, and the acquisition of Business Phone in Denmark in August is a
confirmation of this. Also, Skipti has made non-binding bids for 49% of the
Slovenian company Telecom Slovenije.
The prospects for the fourth quarter of this year are good. Skipti has reached
agreement with Exista Properties under which we will be selling them
Fasteignafélagið Jörfi ehf, which owns part of the Group's real estate assets.
Preparations for listing Skipti on the market are well under way, and listing
should take place by the end of this year.”
For further information, please contact:
Brynjólfur Bjarnason, CEO of Skipti and Siminn, tel. 550 6003
Linda Waage, Public Relations, Skipti and Siminn, tel. 892 6011.
