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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Eimskipafelag Islands Hf | LSE:0QB3 | London | Ordinary Share | IS0000019800 | EIMSKIPAFELAG ISLANDS ORD SHS |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 202.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Transportation Services, Nec | 827.53M | 54.12M | 0.3293 | 613.42 | 33.2B |
Highlights of Q3 results
Highlights of 9M 2021 results
VILHELM MÁR THORSTEINSSON, CEO
“I am very satisfied with the continued strong performance in third quarter. The results are marked by good contribution from both liner and forwarding services which are the main drivers for the improved results. The exceptional global market conditions in the transportation sector continue to be challenging and as before these conditions affect both revenue and cost but we are seeing the first signs of stabilization in global price indexes.
EBITDA was strong in the period or amounting to EUR 36.8m with net earnings never stronger in one quarter or amounting to EUR 20.7m. We had another good quarter in the container liner driven by good volume development, especially in Iceland export and Trans-Atlantic services, and active revenue management. Reefer liner services in Norway also delivered good results on account of high utilization and improved balance. In the international freight forwarding we had strong results in a market characterized by very high global prices and capacity constraints, and I’m pleased to see record high results in our Asia operations in the quarter.
The volume in the Trans-Atlantic services has been growing steadily since 2017, when weekly services started. Since first quarter this year we have had fully utilized vessels westbound to North America and the volume growth in third quarter was 50% compared to same quarter last year. The Trans-Atlantic volume enables us to offer our customers weekly services between Iceland and North America.
In a challenging global market environment, we have managed to provide our customers with excellent liner and forwarding services, leveraging our position as a leading transportation company in the North-Atlantic with a strong international office network. We build on strong customer relationships and employee expertise and are well positioned with our focus on frozen and chilled commodities.
Despite challenging situation in global transportation markets the outlook for fourth quarter is good and as a result we have updated our guidance for the year upwards. “
INVESTOR MEETING 10 NOVEMBER 2021
The Board of Directors of Eimskipafélag Íslands hf. approved the Company’s Condensed Consolidated Interim Financial Statements for Q3 2021 at its meeting on 9 November 2021. Investors and market participants are invited to a meeting on Wednesday 10 November 2021 at 8:30 a.m. at the Company’s headquarters, Sundabakki 2, second floor. Participants are required to register their attendance before the end of 9 November. The meeting will also be webcasted live in Icelandic at www.eimskip.com/investors. Vilhelm Már Thorsteinsson, CEO and María Björk Einarsdóttir, CFO, will present the Company’s financial results for the Q2 2021. Investor presentation and a recording of the meeting will be available on the Company’s investor relations website.
FURTHER INFORMATION
Edda Rut Björnsdóttir, Executive Vice President of Human Resources & Communication, tel.: +354 825 3399, email: investors@eimskip.com.
María Björk Einarsdóttir, Executive Vice President, tel.: +354 825 7350, email: maria@eimskip.com.
FORWARD-LOOKING STATEMENTS
Statements contained in this financial press release that refer to the company’s estimated or anticipated future results or future activities are forward-looking statements which reflect the company’s current analysis of existing trends, information and plans. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially depending on factors such as the availability of resources, the timing and effect of regulatory actions and other factors. Eimskip undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.
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