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2008-07-18 18:52:09 CEST 2008-07-18 18:53:10 CEST REGULATED INFORMATION Nýherji hf. - Financial Statement Release- First Half 2008 Financial Highlights• Net income from Nýherji's core business and Applicon's operations outside Iceland was satisfactory but results for recent investments were below expectations • Sales of goods and services: ISK 7,129 million of which 22% came from operations outside Iceland • EBITDA: ISK 268 million compared to ISK 302 million in 1H 2007 • Currency losses: ISK 455 million • Net loss: ISK 432 million compared to ISK 209 million profit in 1H 2007 Message from Thordur Sverrisson, Managing Director: “The operating and net income from both Nýherji's core business and from Applicon's operations outside Iceland was satisfactory. Negative returns from recent investments weighed on results for the quarter, but work will continue on creating synergies between existing and recently acquired businesses. EBITDA was lower than last year, because of net losses in certain operating units and considerable expenses for software development. The continued depreciation of the krona and high interest rates in Iceland have also had a greater negative impact on our net income than anticipated.” See attachment. |
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