News

Samherji Ltd. was run profitable by 3.104 million ISK in the year 2005, compared to 2.914 million ISK in the year 2004.

An agreement has been reached for UK Fisheries to acquire the fishing businesses of J. Marr Ltd. according to an announcement of today.

Adalsteinn Helgason, Business Development Manager of Samherji Ltd., will take over as Managing Director of Síldarvinnslan Ltd. in Neskaupstadur as from January 1st 2006.

Samherji Ltd. was run profitable by 1.065 million ISK in the first six months of 2005, profit from the second quarter was 390 million ISK. The operating revenue of the group the first six months totalled 11.627 million ISK and operating expenditure was 9.648 million ISK. Profit, before depreciation and financial expenses (EBITDA), was 1.979 million ISK, depreciation was 674 million ISK and financial expenses were negative by 245 million ISK. Samherji´s share in the return of subsidiaries was 312 million ISK, profit before taxes was 1.372 million ISK and profit after taxes, including minority shares was as afore said 1.065 million ISK. 

Samherji (Fisheries and Fish Processing), symbol SAMH, will be delisted from ICEX Main List after closing of trading day July 28th in accordance with the company's request. The company does not fulfill the listing requirements as Fjárfestingarfélagið Fylkir ehf. and parties, that have reached an agreement on the management and operations of Samherji hf. and financially related parties, have aquired 91,64% of its shares. The delisting is made by reference to Art. 7.5.2 of Rules for Issuers of Securities Listed on the Iceland Stock Exchange Ltd.

The Fjordur Investment Company, a vehicle owned by Þorsteinn Már Baldvinsson CEO of Samherji hf, Kristján Vilhelmsson Mananaging Director of Samherji hf and Finnbogi A. Baldvinsson CEO of Pickenpack Hussmann and Hahn Seafoods, has purchased 7.33% of the shares in Samherji hf. Fjordur has entered into an agreement with Bliki ehf, Tryggingamiðstöðin hf and F-15, the other principal institutional shareholders regarding the management and operations of Samherji hf.

Samherji Ltd. has finalized a sale of its fishmeal plant in Grindavík to Síldarvinnslan Ltd.  The factory was damaged  by fire last February and has not been in operation since then.

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.

According to Samherji´s annual report for the year 2004, endorsed by the company’s board of directors today, Samherji´s profit was 2.914 million ISK compared to 1.067 million ISK last year.

A fire broke out in Samherji´s fishmeal plant in Grindavík yesterday afternoon, workers were not in danger.  The housing suffered considerable damage but a part of the machinery seems to be undamaged.