Samherji´s profit 676 million ISK
Samherji Ltd. was run profitable by 676 million ISK in the first quarter of 2005. The operating revenue of the group the first three months totalled 5.697 million ISK and operating expenditure was 5.008 million ISK. Profit before depreciation and financial expenses (EBITDA) was 689 million ISK, depreciation was 334 million ISK and financial expenses were positive by 145 million ISK. Samherji´s share in the return of the subsidiaries was 361 million ISK Profit before taxes was 861 million ISK and profit after taxes, including minority shares was as afore said 676 million ISK. Net cash provided by operating activities the first three months was 260 million ISK.
The groups total assets were put down at 29,1 milliards ISK at the end of March 2005. Fixed assets were just over 21,1 milliards and current assets just over 7,9 milliards ISK. Net liabilities were 16,6 milliards ISK, stockholders equity was just over 12,1 milliards and stockholders equity ratio was 41,8.
Samherji´s group has undergone some changes from the same period last year i.e. owned 7 daughter companies at the end of this first quarter compared to only two last year. The daughter companies´ effect was negative by total 74 million ISK.
A few of the largest owners of Samherji entered into an agreement last March regarding the management and operations of Samherji Ltd. The Group tabelled an offer to all other stockholders to buy shares at 12,1, the offer is open until July 5th 2005. On completion of the buy-back, the owners intend to ask the Board of Directors to de-list the Company from the Icex Main List Stock Exchange. The Management has due to these reasons decided to postpone finalizing the financial statements according to international standards until a later date.
Key figures March 31st 2005 here (Excel 19kb)
