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2009-05-08 19:56:39 CEST 2009-05-08 19:57:46 CEST REGULATED INFORMATION Icelandair Group hf. - Financial Statement ReleaseFirst Quarter 2009 ResultsIcelandair Group results for the first quarter of 2009 * Results better than anticipated in spite of extremely challenging operating environment * Best performance of the Icelandic airline, Icelandair in the first quarter since the company was organised in its present form * Travel Service was not a part of Icelandair Group in the first quarter of 2008 * The company‘s total turnover was ISK 20.7 billion, increasing by 48% from the preceding year * EBITDA was negative by ISK 2.3 billion, as compared to a negative result of ISK 0.9 billion in the corresponding period of last year. Q1 plans expected á negative EBITDA amounting to ISK 4,1 billion * EBIT was negative by ISK 3.5 billion, as compared to a negative result of ISK 1.7 billion for the corresponding period of last year * Loss after taxes came to ISK 3.6 billion, as compared to ISK 1.7 billion for the corresponding period of last year * Cash at the end of the period amounted to ISK 2.8 billion, as compared to ISK 3.3 billion at the end of the corresponding period of last year * Assets amounted to ISK 98.1 billion at the end of March 2009, as compared to ISK 98.9 billion at year-end 2008 * The equity ratio was 17.2% at the end of March 2009, down from 20.3% at the end of 2008 * EBITDA for the whole year 2009 estimated to be approximately ISK 6 billion |
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