2022-07-06 20:23:10 CEST

2022-07-06 20:23:10 CEST


REGULATED INFORMATION

English Islandic
Eimskipafélag Íslands hf. - Inside information

Eimskip: Information regarding Q2 results


According to management accounts for April and May along with a new forecast for June 2022, which is now available, EBITDA in the second quarter of 2022 will be considerably higher than in the same quarter in the previous year.

It is estimated that EBITDA in the second quarter will be in the range of EUR 43.5 – 47 million compared to EUR 29.7 million (adjusted for ICA settlement of EUR 10.2 million) for the same quarter 2021. EBIT in the quarter is estimated in the range of EUR 28.5 – 32 million compared to adjusted EBIT of EUR 17.5 million for the same period 2021.

There are various reasons behind the increase in EBITDA, with the main drivers being a strong performance of the international forwarding services that continue to benefit from global market conditions, and a very good utilization of the Company's sailing system. The financial contribution from the Trans-Atlantic services is substantially higher than same quarter last year, supported both by strong volume and rates that reflect the high demand for Trans-Atlantic transportation. In addition, the volume in import to Iceland has been on a high level.

The outlook for coming months is generally positive although there is a lot of uncertainty surrounding the global economy and potential effects of increasing inflation on international trade.

Eimskip is still preparing financial results for June and Q2 2022 and the results are subject to change during that process and until the work on financial closing is completed.

The Company will publish its Q2 2022 results after market closing on Thursday 18 August 2022.

For further information please contact Edda Rut Björnsdóttir, Executive Vice President of Human Resources & Communications via phone (+354) 825-3399 or investors@eimskip.is.