News

The operations of Samherji hf. were profitable by 1.755 million ISK the first six months of the year 2002. Profit before depreciation and financial expenses (EBITDA) was 2.021 million ISK or just over 28% of the revenue compared to barely 25% the same time last year. Net cash provided by operating activities was 1.624 million ISK compared to 1.150 million in 2001.

A decision has been made to sell Akureyrin EA-110 to Onward Fishing Company, Samherji´s daughter company in Great Britain. The ship will be delivered in early September.

Samherji hf. has today finalized the purchase of Sléttbakur EA-4 previously owned by Útgerðarfélag Akureyringa hf. Furthermore, the sale of Kambaröst SU-200 has been finalized to a fishing company in Namibia. These transactions amount to a net 100 million ISK investment for the company.

Today sentence was passed in the district court of the island of Storð in Norway where Samherji hf, was sentenced to pay compensation to the Norwegian state to the amount of NOK 10 million, or the equivalent of ISK 117 million, for having demonstrated lack of care - not of a very grave nature, however - in its relationship with the shipyard Th. Hellesöy in Norway and for having in this way contributed to obtaining a wrongful subsidy from the state of Norway in connection with the building of the Icelandic  multi-purpose fishing vessel Vilhelm Þorsteinsson EA 11. Samherji has decided to appeal against this sentence. The case may be expected to appear before the court of Gulaþing in Bergen during the early part of next year. In Norway there are three judiciary levels.

Samherji hf has today bought shares in SR-mjöl hf for just over 97million ISK nominal value. Samherji´s ownership will in due course amount to 12.86% or almost 159 million ISK nominal value. This transaction has been announced to The Icelandic Stock Exchange

- Operating revenue was just over 3.000 million ISK and increased by 2.031 million ISK between years. Samherji´s running was profitable by 1.108 million ISK in the year just passed, compared to 726 million ISK profit in the year 2000. Operating revenue almost tripled from the previous year and totalled 3.092 million ISK. The groups income was 13.000 million ISK and operating expenditure 9,400 million ISK.

An unaudited Financial Statement of Samherji hf (parent company), which was laid out on Samherji´s board meeting today, reveals that the profit of the parent company for the year 2001 is substantially more than planned.