Teymi hf. Q1 2008 Results
Reykjavík, 27 April 2008
Sales amounted to ISK 6 billion constituting 24% growth from previous year (9%
pro-forma)
EBITDA amounted to ISK 1,003 million; 28% growth from previous year (11%
pro-forma)
The fall of the Icelandic Króna has resulted in a negative foreign exchange
difference of ISK 5,2 billion in Q1 2008
Loss before taxes amounted to ISK 4,899 in Q1 2008
Cash generated by operation before interests and taxes ISK 859 million
Current ratio 1,11 at the end of March 2008
Equity ratio 19% at the end of March 2008
Sales of the Teymi Group amounted to ISK 6 billion in Q1 2008 which constitutes
a growth of 24% from the previous year. EBITDA amounted to ISK 1,003 million
increasing by 28% from the previous year. Loss after calculated income tax
amounted to ISK 4,899 million. Teymi‘s current ratio is now 1,11 and the
equity ratio 19%. Cash generated by operation before interests and taxes
amounted to ISK 859 million.
Main results of Q1 2008:
• Sales amounted to ISK 6 billion compared to ISK 4,8 billion for the same
period in the previous year; inner growth of 24% between years (9% pro-forma).
• EBITDA amounted to ISK 1,003 million compared to ISK 785 million for the same
period in the previous year; inner growth of 28% between years (11%
pro-forma).
• EBIT amounted to ISK 523 million.
• Finance expenses exceeded finance earnings by ISK 6,107 million; net foreign
exchange difference related to long term liabilities was negative in the amount
of ISK 5,2 billion.
• Loss before calculated income tax amounted to ISK 5,584 million and loss of
the period was ISK 4,899 million.
• Cash generated by operations before interests and taxes amounted to ISK 859
million and after interest payments and taxes the cash was ISK 537 million.
Árni Pétur Jónsson, CEO
„We are very satisfied with the growth in sales and EBITDA results in the first
quarter. The sales are in line with our expectations. EBITDA results exceed our
expectations and the EBITDA is increasing from the previous year. The cash flow
of the company remains strong. The prospects for the Group‘s operations in 2008
are good.
The fall of the Icelandic Króna damaged us significantly in the first quarter
and resulted in a hefty increase of long term liabilities. Like many other
companies today Teymi is increasingly worried about the fluctuation of the
national currency and high interest rates“
