Hf. Eimskipafélag Íslands - Company Announcement

CORRECTION: Eimskip reports a loss of EUR 214.5m in Q2 2009

CORRECTION: The 2Q2009 Financial Statement is now attached

- Marked improvement in the shipping business from previous quarter -
- Impairment loss on coldstore assets of EUR 176.1m -

Highlights for the quarter

•	Revenue of EUR 298.6m (Q2 2008: EUR 319.4m), decreasing by 6.5% from previous
year 
•	Operating expenses of EUR 263.9m (Q2 2008: EUR 288.6), decreasing by 8.6%
from previous year 
•	EBITDA of EUR 34.7m, or 11.6% of revenue, an increase of 12.6% from previous
year when it was EUR 30.8m, or 9.6% of revenue 
•	Financial expenses of EUR 22.5m, including exchange gains of EUR 6.5m
•	Loss from continuing operations of EUR 190.2m
•	Loss from discontinued operations of EUR 24.3m
•	Loss for the quarter of EUR 214.5m (Q2 2008: loss EUR 100.8m)
•	Total assets at the end of the period of EUR 1,540.6m
•	Total liabilities at the end of the period of EUR 1,931.0m
•	Equity at the end of the period was negative EUR 390.4m

See attachment for full results

Attachments:

2q press 2009 3006 final.pdf

2q2009reikningur.pdf