SKEL Skeljungur hf.

Skeljungur hf.: Financial statements for Q1 2019

Skeljungur hf.: Financial statements for Q1 2019

- Off to a good start

 

Key numbers and highlights

  • Earnings per share were 0.20, which is the same result as in Q1 2018. 
  • Gross profit amounted to 2,107m ISK and increased by 20.7% from Q1 previous year.
  • EBITDA amounted to 892m ISK which is a 9.4% increase from Q1 2018. 
  • Adjusted EBITA was 848m ISK, which is a 19.0% increase from Q1 2018.*
  • EBITDA margin in Q1 was 42.3% compared to 46.7% in Q1 the previous year. 
  • Profit after taxes amounted to 411m ISK compared to 416m ISK Q1 the year before, which is a 1.2% decrease between years.
  • Return on equity (on a yearly basis) was 19.0% compared to 22.6% in Q1 2018.
  • Equity at the end of Q1 amounted to 9,369m ISK and the equity ratio was 36.0%. 

* The EBITDA was adjusted for positive effects from IFRS 16 in Q1 2019 of 44m ISK, and a one-off profit in Q1 2018 of 103m ISK.

 

The outlook for 2019 is unchanged. The Company estimates that the EBITDA in 2019 will range from 3,000-3,200m ISK without the effects from IFRS 16 and 3,200-3,400m ISK with the effects from IFRS 16. The Company also estimates that investments will range from 800-900m ISK.

The Company’s guidance assumes stable exchange rates and stable oil prices. It is pointed out that in the translation of the financial statement, an average exchange rate over the year is used. In the budget for 2019 a fixed rate of DKK/ISK 18.1 is assumed.

 

See enclosed material for further information.

 

For further information please contact Hendrik Egholm, CEO, , tel: 444-3000 / 840-3002.

 

Skeljungur is an energy company which sells products and services in Iceland, the Faroe Islands and in the N-Atlantic. Skeljungur’s main activities are import, storage, sales and distribution of fuel and fuel related products. The Company operates 76 gas stations and 6 oil depots in Iceland and the Faroe Islands. In addition, the Company operates convenience stores and provides services and sells oils for house heating in the Faroe Islands and sells fertilizer and other chemical products in Iceland. The Company’s customer base spans from individuals to institutions and companies in the fishing industry, agriculture, transport and contractors. Skeljungur owns the brand names Skeljungur, Orkan and OrkanX in Iceland and Magn in the Faroe Islands. Skeljungur’s goal is to fulfil the energy needs of individuals and companies in an efficient and safe way, in harmony with the environment.

 

Attachments

EN
21/05/2019

Underlying

SKELSkeljungur hf.

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

Reports on Skeljungur hf.

 PRESS RELEASE
Free
SKEL SKELJUNGUR HF.

SKEL fjárfestingafélag hf.: Allocation of stock options

SKEL fjárfestingafélag hf.: Allocation of stock options The Board of Directors of SKEL has decided to grant certain employees of the company stock options for up to 3,591,141 shares in the company. The stock option agreements are granted with the purpose of aligning the long-term interests of the company and its employees. The terms of the stock option agreements are in accordance with the stock option plan and the remuneration policy approved at the company’s Annual General Meeting on 7 March 2024, where the shareholders authorized the Board to allocate stock options to employees of the c...

December 19, 2025 1 EN
 PRESS RELEASE
Free
SKEL SKELJUNGUR HF.

SKEL fjárfestingafélag hf.: Úthlutun kauprétta

SKEL fjárfestingafélag hf.: Úthlutun kauprétta Stjórn SKEL hefur ákveðið að veita tilteknum starfsmönnum félagsins kauprétti að allt að 3.591.141 hlutum í félaginu. Kaupréttarsamningarnir eru veittir í því skyni að samtvinna hagsmuni félagsins og starfsmanna til lengri tíma. Skilmálar kaupréttarsamninganna eru í samræmi við kaupréttaráætlun og starfskjarastefnu sem samþykkt var á aðalfundi félagsins þann 7. mars 2024, þar sem hluthafafundur samþykkti að veita stjórn heimild til að úthluta kaupréttum starfsmanna félagsins, annarra en þeirra lykilstjórnenda er fengu úthlutaða kauprétti á gru...

December 19, 2025 1 EN
 PRESS RELEASE
Free
SKEL SKELJUNGUR HF.

SKEL fjárfestingafélag hf.: The equity offering of Drangar hf. is comp...

SKEL fjárfestingafélag hf.: The equity offering of Drangar hf. is completed SKEL fjárfestingafélag hf. announced on 18 July 2025 that settlement regarding the purchase of share capital in Samkaup had been completed. Subsequently, Drangar hf., the parent company of Orkan, Lyfjaval and Samkaup, commenced operations. In recent weeks, the company has been presented to professional investors as an investment opportunity in connection with a share capital increase. Signed subscription commitments amounting to ISK 3.6 billion have been received, whereas the objective was to raise ISK 3 billion. A...

November 28, 2025 1 EN
 PRESS RELEASE
Free
SKEL SKELJUNGUR HF.

SKEL fjárfestingafélag hf.: Hlutafjárútboði Dranga hf. er lokið

SKEL fjárfestingafélag hf.: Hlutafjárútboði Dranga hf. er lokið SKEL fjárfestingafélag hf. tilkynnti 18. júlí 2025 að uppgjöri vegna kaupa á hlutafé í Samkaupum væri lokið. Í kjölfarið hófu Drangar hf., móðurfélag Orkunnar, Lyfjavals og Samkaupa, starfsemi. Undanfarnar vikur hefur félagið verið kynnt fagfjárfestum sem fjárfestingakostur vegna aukningar hlutafjár. Borist hafa undirrituð áskriftarloforð að fjárhæð 3,6 milljarða króna, en markmiðið var að safna 3 milljörðum króna. Samhliða nýtti Íslandsbanki hf. kauprétt sem bankinn hafði vegna sölutryggingar og SKEL rétt til skuldbreytingar ...

November 28, 2025 1 EN
 PRESS RELEASE
Free
SKEL SKELJUNGUR HF.

SKEL fjárfestingafélag hf.: Styrkás signs an agreement to acquire Hrei...

SKEL fjárfestingafélag hf.: Styrkás signs an agreement to acquire Hreinsitækni and HRT Þjónusta Styrkás hf., a company 45.7% owned by SKEL, has today signed an agreement to acquire all shares in Hreinsitækni ehf., HRT þjónustu ehf., and related companies. The share purchase agreement is subject to customary conditions, including the approval of the Icelandic Competition Authority. The Hreinsitækni group is a leading provider of environmental and infrastructure services for municipalities and businesses, with facilities and an equipment fleet in four regions of Iceland. The group employs ap...

November 6, 2025 1 EN

ResearchPool Subscriptions

Get the most out of your insights

Get in touch