Eimskipafélag Íslands — Earnings Release 2017

Jan 29, 2018

Eimskip’s EBITDA results for 2017 estimated to be in the range of EUR 57 to 58 million

Eimskip’s EBITDA results for 2017 estimated to be in the range of EUR 57 to 58 million

According to the management report for 2017, Eimskip’s EBITDA is in the range of EUR 57 to 58 million. This is below the EUR 60 to 62 million guidance published on 21 November 2017, but is about 7.5% above the EBITDA results for the year 2016.

The financial results of November and December were below expectations due to various reasons. The main effect is related to exported volumes from Iceland and the Faroe Islands that were under expectations. At the same time, Eimskip increased the capacity of the company’s sailing system to fulfill the service commitment of weekly scheduled services for all transportation routes.

The company is still preparing its Financial Statements for 2017 and the audit process is ongoing. The above-mentioned EBITDA range is therefore subject to potential changes in the preparation and the audit process.

According to the company’s financial calendar, Eimskip will publish its Financial Statements for 2017 on 22 February 2018 and will present the 2017 results and the forecast for 2018 at the investor meeting held on 23 February at 8:30 in Korngardar 2, Reykjavík.