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Eimskip - 2Q Results   30.6.2006 09:30:14
Flokkur: Afkomufréttir   Skuldabréfafréttir      Íslenska  English
 Árshlutareikningur Eimskips.pdf
Íbúðalánasjóður hefur ákveðið að efna til útboðs á íbúðabréfum í flokkunum HFF150914, HFF150224, HFF150434 og HFF150644

EBITDA 1,947 million ISK 
2006
first half results in line with expectations

 

Eimskip’s financial performance in the first half 2006 was in line with managements expectations. Operations continue to be characterised by steady growth, both in revenues and profits. Eimskip’s operations are seasonal and the company returns profits in the latter half of its financial year.

 

·          EBITDA 1,947 million ISK, 12.1% of turnover

·          EBIT 1,129 million ISK, 7.0% of turnover 

·          Total asset increase 22.8% to 31,752 million ISK

·          Working capital from operating activities 1,802 million ISK

·          Total equity at 30 April 8,095 million ISK - equity ratio 25.5%

·          Current ratio 1.43

·          1,070 thousand tonnes ocean freight transported

 

Total revenues in the first half amounted to 16,064 million.

 

EBITDA amounted to 1,947 million ISK compared with 1,217 million last year, increasing by 59.9%. EBITDA margin was 12.1% compared with 10.0% same period last year.  EBITDA margin is generally the lowest in the first quarter.

 

Financial expenses amounted to 2,644 million ISK. Taxes amounted to 120 million ISK positive. Net result was 1,378 million ISK loss compared with 496 million profit for same period last year.

 

Outlook 2006

 

Performance for the first half of financial year 2006 has been according to management expectations and it is believed to continue in the latter half. In addition to increased business in shipping and actions to further strengthen Eimskip’s position in its home market, the company has  systematically continued to build up its worldwide logistics services for chilled and frozen commodities according to its strategy.

 

Operations in the first half 2006

 

 

 

 

 

Actual

Actual

 

Million ISK

2006

2005

Diff.

Transportation income........................................

15.582

11.925

3.657

Transportation cost............................................

(14.152)

(11.053)

(3.099)

Gross profit......................................................

1.430

872

558

 

 

 

 

Other Operating Revenue....................................

482

279

203

Administration...................................................

(783)

(781)

(2)

 

 

 

 

EBIT.................................................................

1.129

370

759

 

 

 

 

Financial income and expenses......................

(2.644)

215

(2.859)

 

 

 

 

Influence of affiliated companies..........................

17

45

(28)

 

 

 

 

Profit before taxes...........................................

(1.498)

630

(2.128)

 

 

 

 

Income tax........................................................

120

(133)

253

 

 

 

 

Profit................................................................

(1.378)

496

(1.874)

 

 

 

 

Attributable to:

 

 

 

Stockholders of the parent..................................

(1.370)

469

 

Minority interest.................................................

(8)

27

 

 

(1.378)

496

 

 

 

 

 

EBITDA.............................................................

1.947

1.217

 

EBITDA / Income...............................................

12,5%

10,2%

 

EBIT / Income....................................................

7,2%

3,1%

 

Profit / Income...................................................

-8,8%

4,2%

 

 

 

About Eimskip

Eimskip offers total transportation solutions to its customers, including ocean freight, reefer logistics and inland transportation, with particular expertise in temperature controlled logistics and storage. Eimskip operates at 80 operational bases in Europe, North America, South America and Asia.  The company operates 30 vessels, 400 trucks and over 40 coldstores. Eimskip employs 3,000 people, thereof 2,000 outside of Iceland

 

 

About Avion Group

Avion Group is a leading investment company, focused on global air, land and sea transportation solutions worldwide. The company is organized into three business divisions -- Aviation Services, Charter & Leisure and Shipping & Logistics. Avion Group employs close to 6,500 people at 110 operational bases worldwide.

 

 

 

Nánari upplýsingar veitir Baldur Guðnason, forstjóri Eimskips í síma: 525-7202

 


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