Teymi hf. - results of the third quarter 2007
Reykjavík, October 31st 2007
ISK 1,575 million profit after tax in the first 9 months of 2007
Revenues amount to ISK 15,3 billion constituting 15% inner growth from last year
EBITDA ISK 2,944 million
Recorded losses due to ISK Hands Holding ISK 1,1 billion
Net foreign exchange difference of long term liabilities positive in the amount
of ISK 1,771 million
Current ratio 1,6 at 30 September 2007
Equity ratio 25% at 30 September 2007
Teymis profit in the first nine months of 2007 amounted to ISK 1,575 million.
Inner growth of the company amounted to 15% and revenues ISK 15,3 billion.
EBITDA amounted to ISK 2,944 million. Teymi's current ratio is 1,6 and the
equity ratio 25%. Cash generated by operations amounted to ISK 2,060 million.
As Teymi's initial balance sheet is from 1 October 2007, information from
previous quarters, i.e. Q2 and Q3 2006, is published pro forma for comparative
purposes as appropriate.
Main results of the first nine months 2007:
•Sales amounted to ISK 15,3 billion compared to ISK 13,3 billion in the
previous year (pro-forma) resulting in 15% inner growth.
•EBITDA amounted to ISK 2,944 billion compared to ISK 2,710 billion in the
previous year (pro-forma)
•EBIT amounted to ISK 1,687 billion
•Share in loss of the associate Hands Holding and depreciation amounted to ISK
1,095 million.
•Profit before calculated income tax amounted to ISK 1,593 million and profit
in the period ISK 1.575 million.
•Cash generated by operations amounted to ISK 2,060 million.
Main results of Q3 2007:
•Sales amounted to ISK 5,3 billion representing 18% inner growth from the same
period in the previous year (pro-forma).
•EBITDA amounted to ISK 1,135 million compared to ISK 945 million in the
previous year (pro-forma)
•EBIT amounted to ISK 699 million.
•Finance expenses exceeding finance earnings amounted to ISK 795 million.
•Share in loss of the associate Hands Holding and depreciation amounted to ISK
1,095 million.
•Loss before calculated income tax amounted to ISK 1,191 million.
•Loss of the period ISK 1,187 million.
•Cash generated from operations ISK 750 million.
•Current ratio was 1,6 at 30 September 2007
•Equity ratio was 25% at 30 September 2007
Árni Pétur Jónsson, CEO
„Teymi's operations this quarter were very successful and the turnover and
EBITDA of the group is in line with our forecast. The electronic communications
and IT segments have shown significant inner growth, good results and strong
cash flow. The electronic communications segment has grown by 18% and the IT
segment by 11% in Q3 2007 when compared with the results of Q3 2006. The
significant inner growth shows that our companies are increasing their market
share.
The outlook for Q4 is good and the purchase of HugurAx and Landsteinar
Strengur, to be included in the group in Q4 2007, will have a strong positive
impact on the group.”
For further information contact Árni Pétur Jónsson, CEO, tel: +354 693 2200 or
Ólafur Þór Jóhannesson, CFO, tel: +354 669 5509
