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MARKETS LIVE BLOG:

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EIMSKIP: Information regarding Q1 results

Eimskipafelag Islands hf.
·1 min read

According to management accounts for January and February along with an estimate for March, which is now available, EBITDA for the first quarter of 2021 will be in the range of EUR 13.9 million to 14.9 million compared to EUR 9.3 million in same quarter last year. This translates into EBIT in the range of EUR 2.2 million to EUR 3.2 million, with expected depreciation in the first quarter, compared to negative EBIT of EUR 1.6 million for the same period last year.

Overall, the Company performed quite well during the quarter despite challenging market environment and last year’s streamlining measures continued to realize positively.

Even though the expected results in the first quarter are considerably above the same period last year the Company’s EBITDA Guidance for 2021 remains unaltered and is in the range of EUR 68 to 77 million. Additionally, EBITDA for the first quarter last year was below expectations as has been presented.

The results are subject to change until work on financial closing is completed.

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The Company will publish its first quarter 2021 results after market closing on Tuesday 11 May.

For further information please contact Edda Rut Björnsdóttir, Executive Vice President of Human Resources & Communications via phone (+354) 825-3399 or investors@eimskip.is.