2012-11-29 21:54:16 CET

2012-11-29 21:55:18 CET


REGULATED INFORMATION

English Islandic
Eimskipafélag Íslands hf. - Financial Statement Release

Eimskip’s third quarter results 2012 in line with expectations 


  -- Operating revenue in third quarter was EUR 110.7 million
  -- Operating profit (EBITDA) was EUR 10.8 million
  -- Net earnings for the period amounted to EUR 5.7 million
  -- Equity ratio was 62.8% at the end of third quarter



Gylfi Sigfússon, CEO

„Eimskip‘s operating results in third quarter 2012 are in line with to the
company's expectations and has been increasing from previous year when taking
into consideration expenses amounting to EUR 0.7 million related to preparation
of the company's listing at NASDAQ OMX Iceland. Eimskip's shares started
trading at the Main Market of NASDAQ OMX Iceland 16 November 2012. 

Transported volume in the company's liner services in the North-Atlantic
increased by 6.3% the first nine months of the year compared to the same period
2011, which is a positive development. In 2011 it was decided to add another
vessel to the America route connecting North-America and North-Norway. The new
vessel has gradually been building volume and revenue. Transported volume in
the company's reefer forwarding services in third quarter decreased by 12.7%
from previous year, which reflects from development of markets in Asia, despite
volume decrease net profits have not reduced by same measure. The main reason
for decreased volume is not related to transport of frozen seafood but rather
to transport of other products from Asia to Europe. 

The outlook for transport in the North-Atlantic is good, significant growth has
been in transport from Norway and Faroe Islands and in transport between Europe
and North America. Transport to and from Iceland has been growing but there is
some uncertainty regarding export of seafood due to stock accumulating and
price reduction in certain markets. There remains uncertainty regarding
investments in power intensive industry in Iceland that can affect transport
volumes in coming years. Eimskip continues to emphasize on providing its
customers excellent services by, among other, strengthening its vessel,
container and equipment fleet with new investments in the amount of EUR 38.8
million year to date. It is expected that the two new container vessels that
are currently being built in China will be delivered in the year 2013 and will
strengthen the company's sailing system and services.” 



Further information

  -- Gylfi Sigfússon, CEO, tel.: +354 525 7202
  -- Hilmar Pétur Valgardsson, CFO,  tel.: +354 525 7202
  -- Erna Eiríksdóttir, Senior Manager of Investor Relations, tel.: +354 825
     7220, email: investors@eimskip.is