Chief Q3 results of Atorka Group hf.: Key financial indicators for the Group: * Atorka Group's consolidated profit after taxes for the first nine months of the year totalled ISK 2.5 billion. * Return for the third quarter totalled ISK 2.7 billion. * Earnings for the first nine months of the year totalled ISK 53.2 billion. * The Group's total assets at the end of September were ISK 104.7 billion. * Equity was ISK 13 billion at the end of September. Key financial indicators for the parent company: * After-tax profit totalled ISK 6.8 billion for the first nine months of the year. * After-tax profit totalled ISK 734 million for the third quarter. * Total assets at the end of September amounted to ISK 61.4 billion. * Equity totalled ISK 22.9 billion at the end of the period. * Annualised return on equity was 39%. * The equity ratio is 37%. * Earnings per share the first nine months 2,12 Magnús Jónsson, CEO of Atorka:"The Group's earnings for the first nine months of the year were good despite challenging market conditions. Atorka realized substantial profit by selling one of its investment projects. At the same time Atorka invested in a new project, Geysir Green Energy where Atorka is one of the primary investors with 32% shareholding. We believe that participating in the development of the company will offer us great return on invested capital. Geysir has a strong position in the development of geothermal energy. Atorka has, to greater extant, been looking towards investment in Asia, amongst projects are investments in the Health care sector and infrastructure. Most recently we acquired 10% stake in a company that is one of leading companies in the development of waste - water treatment plants in China. With increased prosperity China is expected to invest significantly in improved quality of life and in relation to that Atorka sees opportunities. Atorka has a strong financial position and is therefore in a good position to take advantage of opportunities coming along in the near future. Main events * Atorka Group concluded the sale of its entire holding in Jardboranir to Geysir Green Energy. The Enterprise Value of the sale is ISK 17.7 billion. Atorka's total gain since the beginning of its investment amounts to ISK 11 billion before taxes. * Atorka became a primary investor in Geysir Green Energy with 32% stake. The total purchase price of Atorka's stake in Geysir is just over ISK 7 billion. * Jardboranir recently made an agreement with Landsvirkjun about drilling five research holes next year. * Geysir Green Energy purchased Landsvirkjun's share in Enex and raised its stake to approximately 72%. * Purchase of approximately 24% stake in Shanghai Century Acquisition Corp (SHA) which is listed on the AMEX stock market in New York. SHA has negotiated a merger with Chinese generic pharmaceutical company Kelun Pharmaceutical, pending on approval from the Chinese Competition and Fair Trade Authority. The Chinese pharmaceutical market is rapidly growing with increased prosperity and accelerated urbanization. * Promens acquired the production unit at STE Packaging Development of plastic cosmetic container. Promens opened a new plant in Polland and the company is looking into further investments in Eastern Europe. In November, Promens consolidated its entire operations under one name which reinforces the company's image. * Holding in Amiad increased to approximately 22%. Amiad Filtration Systems is one of the world's most significant producers of water filtration solutions. This market is expanding considerably, and the demand for clean water is likewise growing. * Atorka invested in the waste-water industry by acquiring about 10% stake in Asia Environment Holdings (AEH). AEH recently concluded the infrastructure of 200.000 m3 water-waste treatment plant in China which the company will own and run for the next 20 years. The company is also involved in the development of numerous comparable projects in Asia. * Atorka has refinanced big portion of its short-term borrowings, totalling ISK 5.5 billion, with new long term loans payable in 2 years or later. Thus today Atorka has more than five times its maturity of next 52 weeks in cash and cash equivalants. Further information can be obtained from; Magnús Jónsson, Chief Executive Officer, tel: +354 540 6200 Valdís Arnardóttir PR & Communication Manager, tel: +354 840 6217 Q4 Results 2007 and annual financial statements will be published in week 8, 2008 About Atorka Group Atorka is an investment company that supports progressive enterprises that take advantage of worldwide developments, assisting those companies in becoming global leaders. In its investments, Atorka seeks out companies that have sound operations and strong management and possess the potential for substantial internal and external growth. The Company targets projects with considerable potential for growth and value enhancement, aiming at investments for periods of 3-5 years. Atorka Group hf. Hlíðasmára 1 201 Kópavogur Sími: 540 6200 - Fax: 540 6220 Netfang: atorka@atorka.is
Atorka Group hf. - Operating results for the first 9 months of 2007
| Source: Atorka Group hf.