FESTI N1 Hf

Festi hf.: Financial results for Q2 2022

Festi hf.: Financial results for Q2 2022

Main results

  • Margin from sale of goods and services was ISK 7,325 million.  Gross margin from sales was 24.5% and decreases by 0.6% bps. between years.
  • EBITDA was ISK 2,911 million compared to ISK 2,458 million in Q2 2021, increase of 18.4% YoY.
  • Rising prices in commodity markets following Russia’s invasion of Ukraine and increase in inflation cause for concern.
  • Equity was ISK 32,984 million and equity ratio 36.2% at the end of Q2 2022 compared to 39.4% at year-end 2021.
  • Net interest-bearing debt without lease liabilities amounted to ISK 27,513 million at the end of Q2 2022 compared to ISK 23,309 million at year-end 2021.
  • The company's EBITDA forecast for 2022 is raised by ISK 400 million and is now ISK 9,800 - 10,200 million.



Eggert Þór Kristófersson, CEO of Festi:

"Operations in the second quarter went well and exceeded our estimates. N1 increases its turnover and profits significantly between years with an increase in the number of foreign tourists and increased activity among the company's large customers. The operations of ELKO and Krónan were also good in the second quarter. Price increases in fuel and groceries significantly increase investment in inventories compared to the same quarter last year, which is the result of war in Ukraine and global inflation. Due to improved operations and management's assessment of outlook throughout the year, we increase the EBITDA forecast for 2022 by ISK 400 million, or to ISK 9,800 – 10,200 million." says Eggert Þór Kristófersson, CEO of Festi.





Attachments



EN
27/07/2022

Underlying

FESTIN1 Hf

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on N1 Hf

 PRESS RELEASE
Free
FESTI N1 HF

Festi hf.: Managers transactions

Festi hf.: Managers transactions Please see the attached notifications.   Attachments

May 20, 2025 1 EN
 PRESS RELEASE
Free
FESTI N1 HF

Festi hf.: Viðskipti stjórnenda

Festi hf.: Viðskipti stjórnenda Sjá meðfylgjandi tilkynningar. Viðhengi

May 20, 2025 1 EN
 PRESS RELEASE
Free
FESTI N1 HF

Festi hf.: Share option plan for employees of the Festi Group

Festi hf.: Share option plan for employees of the Festi Group In accordance with Festi’s remuneration policy, a share option plan, approved at the Company’s Annual General Meeting on March 6, 2024, is in effect based on Article 10 of the Income Tax Act No. 90/2003. The share option plan is valid for a period of three years, i.e., until May 2027, and applies to all permanent employees of the Festi Group. The objective of the plan is to align the interests of employees with the performance and long-term goals of the Company and its shareholders. Implementation of the share option plan was an...

May 19, 2025 1 EN
 PRESS RELEASE
Free
FESTI N1 HF

Festi hf.: Kaupréttaráætlun fyrir starfsfólk Festi og dótturfélaga

Festi hf.: Kaupréttaráætlun fyrir starfsfólk Festi og dótturfélaga Í samræmi við starfskjarastefnu Festi hf. er í gildi kaupréttaráætlun á grundvelli 10. gr. laga um tekjuskatt nr. 90/2003 sem samþykkt var á aðalfundi félagsins þann 6. mars 2024. Kaupréttaráætlunin gildir til þriggja ára frá, þ.e. til maí 2027, og nær til alls fastráðins starfsfólks Festi og félaga í sömu samstæðu. Markmið áætlunarinnar er að tengja hagsmuni starfsfólks við afkomu og lantímamarkmið félagsins og hluthafa þess. Tilkynnt var um framkvæmd kaupréttaráætlunarinnar í tilkynningum 24. apríl og 5. maí 2024. Samkv...

May 19, 2025 1 EN
 PRESS RELEASE
Free
FESTI N1 HF

Festi hf.: Hækkun hlutafjár vegna efnda á kaupréttarsamningum

Festi hf.: Hækkun hlutafjár vegna efnda á kaupréttarsamningum Á fyrsta nýtingartímabili samkvæmt kaupréttaráætlun fyrir starfsmenn Festi hf. (hér eftir „Festi“ eða félagið) og dótturfélaga, sem samþykkt var á aðalfundi 6. mars 2024, bárust tilkynningar um nýtingu kaupréttar sem taka til samtals 1.048.552 hluta í félaginu á genginu 187 á hvern hlut (kaupgengi aðlagað að teknu tilliti til arðgreiðslna frá gerð kaupréttarsamninga) eða fyrir heildarfjárhæð kr. 196.079.224. Í tengslum við uppgjörið hefur stjórn Festi samþykkt að nýta heimild sína samkvæmt 5. mgr. 5. gr. í samþykktum félagsins,...

May 19, 2025 1 EN

ResearchPool Subscriptions

Get the most out of your insights

Get in touch