Festi hf: Forecast updated based on preliminary accounts for Q3 2021

Kopavogi, ICELAND


According to management accounts for July and August, along with preliminary accounts for September shows that operations in Q3 2021 of all companies exceeded their forecasted result.  In light of that and including management updated guidance for the year 2021 the EBITDA guidance is increased by ISK 600 million, from ISK 8,800 - 9,200 million to ISK 9,400 - 9,800 million. Capital gain from the sale of properties announced on 30 June 2021 are not included in the profit forecast for the year as all conditions of the sale have not been fulfilled..

The Financial Statement for Q3 2021 will be published on October 28th and on Friday 29th July, Festi will host a meeting for investors and shareholders at 8:30 in the morning on Dalvegi 10-14, 3rd floor.

Further information will be given by Eggert Kristófersson, CEO, (eggert@festi.is) and Magnús Kr. Ingason, CFO, (mki@festi.is)