Síminn — Interim / Quarterly Report 2022

Oct 25, 2022

Condensed Consolidated Interim Financial Statements

1 January to 30 September 2022

Síminn hf.

Ármúla 25

108 Reykjavík

Kt. 460207-0880

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Contents

Page

Endorsement and Statement by the Board of Directors and the CEO... 2
Consolidated Income Statement... 3
Consolidated Statement of Financial Position... 4
Consolidated Statement of Changes in Equity... 5
Consolidated Statement of Cash Flows... 6
Notes to the Consolidated Financial Statements... 7 - 13
Quarterly Statements... 14

Siminn hf. - Condensed Consolidated Interim Financial Statements 30 September 2022

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Endorsement and Statement by the Board of Directors and the CEO

The Condensed Consolidated Interim Financial Statements of Síminn hf. and its subsidiaries (together referred to as "Síminn" or the "Company") for the period 1 January to 30 September 2022 are prepared and presented in accordance with International Financial Reporting Standards (IFRS) for Interim Financial Statements (IAS 34) as adopted by the EU. The Financial Statements are neither audited or reviewed by the Company's auditors.

Net profit for the first nine months of the year 2022 amounted to ISK 37.597 million, compared to profit of ISK 4.559 million for the same period in 2021. Net profit from continued operations for the first nine months of the year 2022 amounted to ISK 1.681 million, compared to profit of ISK 1.425 million for the same period in 2021. Total sales for the first nine months of the year amounted to ISK 18.339 million according to the Income Statement, compared to ISK 18.079 million for the same period in 2021. Total assets as at 30 September 2022 amounted to ISK 81.491 million and total equity amounted to ISK 65.480 million according to the Statement of Financial Position. The Company's equity ratio was 80,4%.

In October 2021 Síminn hf. and Ardian France SA signed a SPA on the sale of all shares in the subsidiary Míla ehf. to Ardian France SA. The final closing of the transaction took place at the end of September and the selling price was paid in full with payment of cash ISK 32,7 billion and bond (sellers loan) ISK 17,5 billion. The value of the transaction (e. enterprise value) was ISK 69,5 billion, including the financial obligation of Míla ehf. which the buyer takes over. The capital gain was ISK 37,8 billion, including the cost of the transaction. A long-term wholesale agreement was made for Síminn's purchase of Míla's services. See further in Note 13.

The Annual General Meeting of Síminn approved on 10 March 2022 a share capital decrease to cancel own shares. The decrease amounted to ISK 240 million in nominal value, share capital decreased from ISK 7.540 million to ISK 7.300 million. The Annual General Meeting of Síminn also approved a share buyback program allowing buyback for up to ISK 730 million in nominal value and a proposal to pay ISK 500 million in dividend to shareholders. The dividend was paid in April. Based on the approval of the Annual General Meeting held in 2022 the Company has purchased own shares for nominal value ISK 163 million, market value ISK 1.912 million. Previously the Company purchased own shares for nominal value ISK 256 million, market value ISK 2.967 based on approval of the Annual General Meeting held in 2021, of which nominal value ISK 64 million and market value ISK 784 million purchased in 2022.

A shareholders meeting will be held on October 26 where the board's proposal of a share capital decrease from ISK 7.300 million to 4.400 million with a payment of ISK 31.500 million to shareholders will be presented. Because of own shares, ISK 30.500 million will be paid to shareholders.

Statement by the Board of Directors and the CEO

According to the best of our knowledge the Condensed Consolidated Interim Financial Statements of Síminn hf. are prepared and presented in accordance with International Financial Reporting Standards (IFRS) for Interim Financial Statements (IAS 34) as adopted by the EU. It is our opinion that these Condensed Consolidated Interim Financial Statements give a true and fair view of the consolidated financial performance of Síminn hf. for the nine months ended 30 September 2022, its assets, liabilities and consolidated financial position as at 30 September 2022 and its consolidated cash flows for the nine month period ended 30 September 2022. Further, in our opinion the Condensed Consolidated Interim Financial Statements give a fair view of the development and performance of Síminn's operations and its position and describes the principal risks and uncertainties faced by Síminn hf.

The Board of Directors and the CEO have today discussed the Condensed Consolidated Interim Financial Statements of Síminn hf. for the period 1 January to 30 September 2022 and confirm them by means of their signatures.

Reykjavík, 25 October 2022

Board of Directors

Jón Sigurðsson, Chairman

Sigrún Ragna Ólafsdóttir, vice chairman

Arnar Þór Måsson

Bjarni Þorvarðarson

Björk Viðarsdóttir

CEO

Orri Hauksson

Siminn hf. - Condensed Consolidated Interim Financial Statements 30 September 2022

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Consolidated Income Statement and other comprehensive income for the period 1 January to 30 September 2022

	Notes	2022	2021*	2022	2021*
		1.7.-30.9.	1.7.-30.9.	1.1.-30.9.	1.1.-30.9.
Net sales	5	6.016	6.004	17.871	17.730
Cost of sales	6	(3.681)	(3.766)	(11.040)	(11.241)
Gross profit		2.335	2.238	6.831	6.489
Other operating income		194	120	468	349
Operating expenses	7	(1.543)	(1.518)	(5.057)	(4.951)
Operating profit		986	840	2.242	1.887
Finance income		97	75	387	301
Finance cost		(165)	(75)	(530)	(365)
Net exchange rate differences		(16)	29	(14)	(37)
Net financial items	8	(84)	29	(157)	(101)
Profit before tax		902	869	2.085	1.786
Income tax		(184)	(162)	(404)	(361)
Profit for the period		718	707	1.681	1.425
Profit from discontinued operation, net of tax	13	35.628	350	35.916	3.134
Profit for the period		36.346	1.057	37.597	4.559
EBITDA		1.790	1.627	4.516	4.219
Earnings per share
Basic earnings per share from continued operation		0,10	0,09	0,23	0,18
Diluted earnings per share from continued operation		0,10	0,09	0,23	0,18
Basic earnings per share from discontinued operation		4,96	0,05	5,00	0,40

The comparative information is restated, see Note 13

The notes on pages 7 to 13 are an integral part of these consolidated financial statements

Siminn hf. - Condensed Consolidated Interim Financial Statements 30 September 2022

All amounts are in millions of ISK

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Consolidated Statement of Financial Position as at 30 September 2022

	Notes	30.9.2022	31.12.2021
Assets
Non-current assets
Property, plant and equipment		2.312	2.219
Right-of-use assets		997	753
Intangible assets		21.870	19.403
Corporate bond		16.069	0
Other financial assets	9	547	675
Non-current assets		41.795	23.050
Current assets
Inventories	10	1.215	923
Accounts receivables	11	2.351	2.234
Other assets	12	2.278	3.082
Cash and cash equivalents		33.852	3.509
Assets held for sale	13	0	36.929
Current assets		39.696	46.677
Total assets		81.491	69.727
Equity
Share capital		7.086	7.314
Reserves		810	3.278
Other statutory reserve		154	154
Other reserve		593	2.020
Retained earnings		56.837	18.313
Equity		65.480	31.079
Liabilities
Non-current liabilities
Borrowings		5.953	5.943
Lease liabilities		786	653
Payables		585	0
Deferred tax liabilities	14	485	604
Non-current liabilities		7.809	7.200
Current liabilities
Bank loans		332	1.518
Accounts payables	15	5.714	2.141
Current maturities of lease liabilities		248	180
Taxes to be paid		859	894
Other liabilities	16	1.049	889
Liabilities held for sale	13	0	25.826
Current liabilities		8.202	31.448
Total liabilities		16.011	38.648
Total equity and liabilities		81.491	69.727

The notes on pages 7 to 13 are an integral part of these consolidated financial statements

Siminn hf. - Condensed Consolidated Interim Financial Statements 30 September 2022

All amounts are in millions of ISK

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Consolidated Statement of Changes in Equity

1 January to 30 September 2022

	Share capital	Reserves	Other Translation-statutory reserve	and other reserve	Retained earnings	Total equity
Total equity 1.1.2021	8.483	13.041	154	674	14.946	37.298
Net profit for the period					4.559	4.559
Payment of dividends (0,060 per share)					( 500)	( 500)
Share capital decrease	( 890)	( 7.077)				( 7.967)
Buyback of ordinary shares	( 206)	( 1.883)				( 2.089)
Other changes				1.071	( 1.071)	0
Total equity 30.9.2021	7.387	4.081	154	1.745	17.934	31.301
Total equity 1.1.2022	7.314	3.278	154	2.020	18.313	31.079
Net Profit for the period					37.597	37.597
Payment of dividends (0,069 per share)					( 500)	( 500)
Buyback of ordinary shares	( 228)	( 2.468)				( 2.696)
Other changes				( 1.427)	1.427	0
Total equity 30.9.2022	7.086	810	154	593	56.837	65.480

The notes on pages 7 to 13 are an integral part of these consolidated financial statements

Siminn hf. - Condensed Consolidated Interim Financial Statements 30 September 2022

All amounts are in millions of ISK

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Consolidated Statement of Cash Flow 1 January to 30 September 2022

	Notes	2022	2021*	2022	2021*
		1.7.-30.9.	1.7.-30.9.	1.1.-30.9.	1.1.-30.9.
Cash flow from operating activities
Operating profit		986	840	2.242	1.887
Operational items not affecting cash flow:
Depreciation		804	787	2.274	2.332
Gain on sale of fixed assets		(52)	0	(56)	(1)
		1.738	1.627	4.460	4.218
Changes in current assets and liabilities:
Changes in inventories		62	(61)	(231)	(18)
Changes in operating assets		946	(204)	952	256
Changes in operating liabilities		170	82	938	1.020
Changes in current assets and liabilities		1.178	(183)	1.659	1.258
Cash generated by operation		2.916	1.444	6.119	5.476
Interest income received		95	60	274	293
Interest expenses paid		(127)	(74)	(482)	(376)
Payments of taxes		(209)	(147)	(557)	(586)
Net cash from operating activities		2.675	1.283	5.354	4.807
Investing activities
Investment in property, plant and equipment		(196)	(136)	(573)	(634)
Investment in intangible assets		(1.758)	(130)	(2.515)	(961)
Proceeds from sale of property, plant and equipment		1	1	5	7.693
Changes in other investment		(79)	(351)	(248)	(612)
Payment of loan and decrease of capital in subsidiary		0	12.000	0	12.000
Investment in subsidiaries		0	(10)	0	435
Sale of subsidiaries		32.713	248	32.713	2.577
Changes in other investment		0	0	152	0
Investment activities		30.681	11.622	29.534	20.498
Financing activities
Dividend paid		0	0	(500)	(500)
Buyback of ordinary shares		(805)	(892)	(2.696)	(2.088)
Proceeds from the exercise of share options		0	0	0	(7.968)
New borrowings		0	0	0	6.000
Payments of non-current liabilities		0	0	0	(15.429)
Payment of long term lease		(62)	(44)	(155)	(129)
Bank loans, increase		0	0	(1.186)	1.018
Financing activities		(867)	(936)	(4.537)	(19.096)
Increase in cash and cash equivalents		32.489	11.969	30.351	6.209
Effect of exchange rate fluctuations on cash held		(2)	20	(8)	8
Cash and cash equivalents at the beginning of the period		1.365	(5.037)	3.509	735
Cash and cash equivalents at the end of the period		33.852	6.952	33.852	6.952
Investing activities without cash effects
Sale of Mila ehf.		16.069	0	0	0
Corporate bond		(16.069)	0	0	0

The comparative information is restated, see Note 13
The notes on pages 7 to 13 are an integral part of these consolidated financial statements

Siminn hf. - Condensed Consolidated Interim Financial Statements 30 September 2022

All amounts are in millions of ISK

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Notes to the Consolidated Financial Statements

1. Reporting entity

Síminn hf. (the "Company") is a public limited liability company domiciled in Iceland. The address of the Company's registered office is Ármúli 25, Reykjavík. The condensed consolidated financial statements for the nine months ended 30 September 2022 comprise the Company and its subsidiaries (together referred to as "Síminn" or the "Company") and Síminn's interest in associated companies. The Company is listed on Nasdaq OMX Iceland.

2. Basis of accounting

Statement of compliance

These interim financial statements have been prepared in accordance with IAS 34 Interim Financial Reporting, and should be read in conjunction with the Company's last annual consolidated financial statements as at and for the year ended 31 December 2021. They do not include all the information required for a complete set of IFRS financial statements. However, selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in the Company's financial position and performance since the last annual financial statements.

The Company's last annual consolidated financial statements is available on the company's website, www.siminn.is, and in the company news release distribution network of Nasdaq Nordic: www.nasdaqomxnordic.com.

These consolidated financial statements were approved and authorised for issue by the Company's Board of Directors on 25 October 2022.

Basis of measurement

These interim financial statements have been prepared on the historical cost basis.

Presentation and functional currency

These interim financial statements are presented in Icelandic Krona (ISK), which is the Company's functional currency. All financial information presented in ISK has been rounded tho the nearest million.

Use of judgements and estimates

In preparing these interim financial statements, management has made judgements and estimates that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expense. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.

3. Changes in accounting policies

The accounting policies applied in the consolidated financial statements are the same as those applied in the Company's consolidated financial statements as at and for the year ended 31 December 2021.

Siminn hf. - Condensed Consolidated Interim Financial Statements 30 September 2022

All amounts are in millions of ISK

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Notes to the Consolidated Financial Statements

4. Operating segments

An overview of operating segments is set forward in same manner as regular reporting to the Board of Directors.

The Company operates within six segments that sell services and equipment in different markets. The operating segments are as follows:

Operating segment:	Description:
Mobile:	Revenue from mobile services in Iceland and abroad, whether traditional GSM service, satellite service, wholesale mobile service or other mobile service.
Fixed voice:	Revenue from fixed voice service, fees and traffic.
Internet & network:	Revenue from data service, incl. xDSL service, GPON, Internet, IP net, local loop and access network.
TV:	Revenues form TV broadcast (fees, traffic and advertisement), TV distribution and Siminn TV.
Equipment sales:	Revenue from sale of telco equipment.
Other revenue:	Revenue from i.e. sold telco service, IT and finance.
Operating segments 2022	Mobile
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Revenue	4.500
Expenses
EBITDA
Depreciation
Net finance cost
Taxes
Profit for the period
Profit from discontinued operation, net of tax
Net earnings for the period
Capital additions
Assets
Liabilities
Operating segments 2021	Mobile
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Revenue	4.146
Expenses
EBITDA
Depreciation
Net finance cost
Share of earnings of associated companies
Taxes
Profit for the period
Profit from discontinued operation, net of tax
Net earnings for the period
Capital additions
Assets
Liabilities

Siminn hf. - Condensed Consolidated Interim Financial Statements 30 September 2022

All amounts are in millions of ISK

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Notes to the Consolidated Financial Statements

5. Net sales	2022	2021
Sales of service and goods is specified as follows:	1.1.-30.9.	1.1.-30.9.
Sales of service	16.331	15.979
Sales of goods	1.540	1.751
	17.871	17.730

No customer comprises more than 10% of net sales.

6. Cost of sales

Cost of sales is specified as follows:

Salaries and related expenses	614	541
Cost of service sold	6.881	6.943
Interconnecting fees	557	497
Cost of goods sold	1.419	1.589
Capitalised work	( 142)	( 147)
Depreciation cost of sold services	1.711	1.818
	11.040	11.241

Cost of service sold consists of; material costs, service contracts, license fees, purchased services and telecommunications costs.

7. Operating expenses

Operating expenses is specified as follows:

Salaries and related expenses	2.360	2.294
Sales and marketing expenses	407	396
Housing and transportation expenses	343	414
IT-Expenses	822	775
General and administrative expenses	562	557
Depreciation operating expenses	563	515
	5.057	4.951

8. Financial income and expense

Financial income and finance costs are specified as follow:

Finance income
Interest income	272	298
Other financial income	113	0
Dividend received	2	3
	387	301
Finance expense
Interest on borrowings	( 282)	( 218)
Loan write-downs	( 42)	( 22)
Interest expense from lease liability	( 33)	( 34)
Other finance expenses	( 173)	( 91)
	( 530)	( 365)
Net exchange rate differences	( 14)	( 37)
Net financial items	( 157)	( 101)

Siminn hf. - Condensed Consolidated Interim Financial Statements 30 September 2022

All amounts are in millions of ISK

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Notes to the Consolidated Financial Statements

9. Other financial assets	30.9.2022	31.12.2021
Other financial assets are specified as follows:
Investment in other companies	38	47
TV programs	175	237
Loans (Síminn Pay)	334	391
Other financial assets total	547	675
10. Inventories
Inventories are specified as follows:
Finished goods	544	369
TV programs	671	554
Inventory total	1.215	923
11. Accounts Receivables
Accounts receivables are specified as follows:
Accounts receivables	2.431	2.341
Allowances for doubtful accounts	(80)	(107)
Accounts receivables total	2.351	2.234
12. Other assets
Other assets are specified as follows:
Prepayments and accrued income	1.009	2.210
Other current assets	186	49
Loans (Síminn Pay)	1.083	823
Other assets total	2.278	3.082

13. Sale of subsidiary

In October 2021 Síminn hf. and Ardian France SA signed a SPA on the sale of all shares in the subsidiary Míla ehf. to Ardian France SA. The final closing of the transaction took place in the end of September and the selling price is paid in full with payment of cash ISK 32,7 billion and bond ISK 17,5 billion. The value of the transaction (e. enterprise value) was ISK 69,5 billion, including the financial obligation of Míla ehf. which the buyer takes over. The capital gain was ISK 37,8 billion, including the cost of the transaction. A long-term wholesale agreement was made for Síminn's purchase of Míla's services.

The operation of Míla ehf. is now specified in one line in the income statement as discontinued operations. Comparative figures for 2021 have been adjusted accordingly.

Siminn hf. - Condensed Consolidated Interim Financial Statements 30 September 2022

All amounts are in millions of ISK

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Notes to the Consolidated Financial Statements

13. Sale of subsidiary, contd.:	2022	2021
Results of discontinued operation:	1.1.-30.9.	1.1.-30.9.
Revenue	1.324	1.331
Elimination of inter-segment revenue	( 188)	( 269)
External revenue	1.136	1.062
Expenses	( 5.719)	( 4.836)
Elimination of expenses related to inter-segment sales	5.044	5.043
External expenses	( 675)	207
Results from operating activities	461	1.269
Income tax	( 97)	( 259)
Profit from discontinued operations, Mila ehf.	364	1.010
Profit from discontinued operations, Sensa ehf.	0	2.124
Profit from discontinued operations, total	35.916	3.134
At year end 2021, the assets and liabilities of Mila ehf. are as follows:		31.12.2021
Goodwill		10.927
Intangible assets		1.819
Operating assets		21.336
Non-current receivables		85
Inventories		513
Accounts receivables		1.345
Cash and cash equivalents		904
Assets held for sale		36.929
Borrowings		23.609
Current liabilities		2.217
Liabilities held for sale		25.826

14. Deferred tax

Analysis of movements in the net deferred tax balances during the period is as follows:	30.9.2022	31.12.2021
Deferred tax at the beginning of the year	604	670
Changes due to sale	0	417
Income tax posted to the income statement	392	421
Taxes to be paid	( 511)	( 879)
Prior year correction	0	( 25)
Deferred tax liability at the end of the period	485	604

Siminn hf. - Condensed Consolidated Interim Financial Statements 30 September 2022

All amounts are in millions of ISK

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Notes to the Consolidated Financial Statements

15. Payables

Payables are specified as follows:	30.9.2022	31.12.2021
Payables	3.017	1.463
Accrued expenses	1.661	678
Payables, transaction fees due to the sale of Mila ehf.	1.036	0
	5.714	2.141

16. Other liabilities

Other liabilities are specified as follows:

Accrued expenses	434	458
Salaries and related expenses	159	152
VAT	445	266
Other	11	13
Other liabilities total	1.049	889

17. Legal proceedings

The Company is currently involved in several legal disputes that relate i.a. to Competition and Media Act.

Síminn and Sýn hf. have been in a dispute regarding distribution of media content. The Competition Authority and Post- and Telecommunication Authority (now Electronic Communication Office) ruled that Síminn breached against media act no. 10/2018 and fined Síminn. The fine, 9 million ISK has already been paid. The Company believes that its actions are fully compliant with the relevant Acts and appealed the decision to the District Court of Reykjavík. The Reykjavík District Court ruled on the matter and partially annulled the decision and lowered the fine to 7 million ISK. Síminn, Sýn and the PTA filed brought the case to the National Court, which confirmed the PTA decisions and increased the fine to 9 mkr. Síminn has requested permission to appeal the case to the Supreme Court which the Court has approved. After the initial decisions of the PTA Sýn hf. filed a claim against Síminn for compensation of 1.9 billion ISK. Síminn rejected the claim and pointed out that in Sýn hf. claim there are no arguments for compensation, nor an attempt to prove the alleged loss. Síminn believes there is no base for the claim from Sýn hf. and the District Court dismissed the case due the failure to state the reasoning for the case. Sýn hf. later filed a motion to appoint two Court appointed assessors and has filed a case against Síminn before the District Court and claimed damages of 125 million ISK. Síminn has rejected this claim and has filed its written. Gagnaveita Reykjavíkur filed a claim against Síminn of 1.3 billion ISK. Síminn has rejected the claim and has pointed out that in the claim there are no arguments to conclude that conditions for liability damages existed. Síminn believes there is no base for the claim. PTA and Sýn have sued Síminn before the District Court of Reykjavík in order to have the ruling of the Committee for Electronic Communications and Postal Affairs, annulment, whereby the Committee annulled the PTA decision no 27/2019 where the PTA imposed a fine of 9 million ISK on Síminn. Síminn will demand that the ruling of the Committee shall be confirmed. Despite the uncertain nature of the outcome of these cases, it is the management opinion that the cases will not result in substantial financial cost. In those cases where the Company might be forced to pay damages, the cost is estimated by the management and recognised in the financial statement.

The Competition Authority reached a decision that Síminn had infringed Competition Authority Decision no. 6/2015 and 20/2015 and fined Síminn for 500 million ISK, which the Company paid. Síminn appealed the decision to the Competition Appeal committee in order to have the CA decision annulled. The CAC annulled that part of the CA decision that related to alleged infringement of Decision no 6/2015 and lowered the fine down to 200 million ISK. The Company is of the opinion that the arrangements for the sale of the Company's services are fully in accordance with the Competition Act and the decisions that the Company has made on the basis of the Competition Act. Síminn has filed a lawsuit before the Reykjavík District Court with a claim for annulment of the part of the ruling of the Competition Appeals Committee which concerned an alleged infringement of the Competition Authority's decision no. 20/2015. The Competition Authority has also filed a lawsuit before the Reykjavík District Court, demanding that the part of ruling of the Competition Appeals Committee in the case will be repealed, whereby Committee decided to annully part of the Competition Authority's decision no. 25/2020 and reduced the fines originally imposed. In October 2022 the District Court annulled the Competition Authority's decision whereby the Authority was obliged to repay Síminn the remaining 200 million ISK plus interest.

Siminn hf. - Condensed Consolidated Interim Financial Statements 30 September 2022

All amounts are in millions of ISK

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Notes to the Consolidated Financial Statements

18. Subsequent event

There are no subsequent events to report.

Siminn hf. - Condensed Consolidated Interim Financial Statements 30 September 2022 13

All amounts are in millions of ISK

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Quarterly Statements

Summary of the Company's operating results by quarters:

	1 F 2022	2 F 2022	3 F 2022	Samtals
Net sales	5.957	5.898	6.016	17.871
Cost of sales	( 3.762)	( 3.597)	( 3.681)	( 11.040)
Gross profit	2.195	2.301	2.335	6.831
Other operating income	136	138	194	468
Operating expenses	( 1.757)	( 1.757)	( 1.543)	( 5.057)
Operating profit	574	682	986	2.242
Net financial items	92	( 165)	( 84)	( 157)
Profit from discontinued operation, net of tax	193	95	35.628	35.916
Profit before tax	859	612	36.530	38.001
Income tax	( 113)	( 107)	( 184)	( 404)
Profit for the period	746	505	36.346	37.597
EBITDA	1.327	1.399	1.790	4.516
	1 F 2021	2 F 2021	3 F 2021	4 F 2021
---	---	---	---	---
Net sales	5.903	5.823	6.004	6.300
Cost of sales	( 3.783)	( 3.692)	( 3.766)	( 4.292)
Gross profit	2.120	2.131	2.238	2.008
Other operating income	115	114	120	164
Operating expenses	( 1.731)	( 1.702)	( 1.518)	( 1.799)
Operating profit	504	543	840	373
Net financial items	( 31)	( 99)	29	( 13)
Profit from discontinued operation, net of tax	2.508	276	350	344
Profit before tax	2.981	720	1.219	704
Income tax	( 97)	( 102)	( 162)	( 50)
Profit for the period	2.884	618	1.057	654
EBITDA	1.274	1.318	1.627	1.283

Siminn hf. - Condensed Consolidated Interim Financial Statements 30 September 2022

All amounts are in millions of ISK