Skeljungur hf.: Financial statements for Q1 2019


- Off to a good start

 

Key numbers and highlights

  • Earnings per share were 0.20, which is the same result as in Q1 2018. 
  • Gross profit amounted to 2,107m ISK and increased by 20.7% from Q1 previous year.
  • EBITDA amounted to 892m ISK which is a 9.4% increase from Q1 2018. 
  • Adjusted EBITA was 848m ISK, which is a 19.0% increase from Q1 2018.*
  • EBITDA margin in Q1 was 42.3% compared to 46.7% in Q1 the previous year. 
  • Profit after taxes amounted to 411m ISK compared to 416m ISK Q1 the year before, which is a 1.2% decrease between years.
  • Return on equity (on a yearly basis) was 19.0% compared to 22.6% in Q1 2018.
  • Equity at the end of Q1 amounted to 9,369m ISK and the equity ratio was 36.0%. 

* The EBITDA was adjusted for positive effects from IFRS 16 in Q1 2019 of 44m ISK, and a one-off profit in Q1 2018 of 103m ISK.

 

The outlook for 2019 is unchanged. The Company estimates that the EBITDA in 2019 will range from 3,000-3,200m ISK without the effects from IFRS 16 and 3,200-3,400m ISK with the effects from IFRS 16. The Company also estimates that investments will range from 800-900m ISK.

The Company’s guidance assumes stable exchange rates and stable oil prices. It is pointed out that in the translation of the financial statement, an average exchange rate over the year is used. In the budget for 2019 a fixed rate of DKK/ISK 18.1 is assumed.

 

See enclosed material for further information.

 

For further information please contact Hendrik Egholm, CEO, investors@skeljungur.is, tel: 444-3000 / 840-3002.

 

Skeljungur is an energy company which sells products and services in Iceland, the Faroe Islands and in the N-Atlantic. Skeljungur’s main activities are import, storage, sales and distribution of fuel and fuel related products. The Company operates 76 gas stations and 6 oil depots in Iceland and the Faroe Islands. In addition, the Company operates convenience stores and provides services and sells oils for house heating in the Faroe Islands and sells fertilizer and other chemical products in Iceland. The Company’s customer base spans from individuals to institutions and companies in the fishing industry, agriculture, transport and contractors. Skeljungur owns the brand names Skeljungur, Orkan and OrkanX in Iceland and Magn in the Faroe Islands. Skeljungur’s goal is to fulfil the energy needs of individuals and companies in an efficient and safe way, in harmony with the environment.

www.skeljungur.is

https://www.linkedin.com/company/skeljungur-hf/

 

Attachments


Attachments

Skeljungur_Market announcement Q1 2019 Skeljungur_Consolidated Q1 2019 Skeljungur_Investor presentation Q1 2019