Eik fasteignafélag hf.: Management results 2019 and financial budget 2020
The Company’s operations were successful in the year 2019 and EBITDA in the year amounted to ISK 5,562 million. These results are in line with the Company’s updated expectations when Q1 results were published.
Key results:
- Income from operations amounted to ISK 8,656 million.
- Rental income amounted to ISK 7,393 million and increased by 9.2% between years.
- EBITDA amounted to ISK 5,562 million.
- Changes in fair value of investment properties amounted to ISK 2,170 million.
- Net cash from operating activities amounted to ISK 3,104 million
- Book value of the Company’s properties amounted to ISK 97,671 million
- Interest bearing debt amounted to ISK 59,780 million.
- Weighted indexed interest rates were 3.65%
- Equity ratio was 31.7%.
- The Company’s rental value ratio was 94.9% at the end of the year.
Key figures for the financial budget 2020 based on 2.5% average inflation rate:
- Income will be ISK 8,939 million
- Expenses will be ISK 2,815 million
- Office and management cost will be ISK 435 million
- EBITDA will be ISK 5,689 million
The attached presentation contains more information on the management results and the assumptions on which the financial budget is based.
For further information contact:
Garðar Hannes Friðjónsson, CEO, , s. 590-2200
Lýður H. Gunnarsson, CFO, , s. 590-2200 / 820-8980
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