Presentation of Q2 2021 results

Eggert Þór Kristófersson, CEO

CONSOLIDATED HIGHLIGHTS

ISK 2,458 m

25.1%

3.52

EBITDA Q2 2021

Margin from sales

NIBD/EBITDA

ISK 3,134 m

40.3%

49.4%

Cash and cash equivalents

EBITDA/Margin from sales Q2 2021

Salaries/Margin from sales Q2 2021

2

CONSOLIDATED OPERATIONS IN Q2

Amounts are in ISK million

Q2 2021

Q2 2020

Change

% Chg.

Sale of goods and services

24,326

20,589

3,738

18.2%

Margin from sale of goods and services

6,106

5,224

882

16.9%

Lease revenue and operating income

603

379

224

59.2%

Salaries and personnel expenses

-3,017

-2,708

-308

11.4%

Other operating expenses

-1,234

-1,191

-43

3.6%

EBITDA

2,458

1,703

755

44.3%

Key Figures

EBITDA/Margin from sales

40.3%

32.6%

7.7%

23.5%

Salaries/Margin from sales

49.4%

51.8%

-2.4%

-4.7%

Earnings per share

4.12

1.60

2.52

157.5%

  • Sale of goods and services ISK 24,326 million, increase of 18.2% YoY.
  • Margin from sales ISK 6,106 million, increase of 16.9% YoY.
  • Number of full-time employees 1,195, increase of 7.6% YoY.
  • COVID-19related cost ISK 26 million in salaries and other operating expenses.
  • EBITDA ISK 2,458 million in Q2 2021, increase of 44,3% YoY.

3

HIGHLIGHTS Q2

  • Volatility in USD/ISK and EUR/ISK exchange rates
  • USD/ISK decreased by 2.6% and the difference between highest and lowest exchange rate in Q2 is 6.2%
  • EUR/ISK decreased by 2.0% and the difference between the highest and lowest exchange rate in Q2 is 3.8%
  • The Q2 2021 average price of diesel fuel was 560.8 USD, compared to an average of 284.7 USD in Q2 2020, an increase of 97.0%.
  • The Q2 2021 average price of gasoline was 668.5 USD, compared to an average of 281.2 USD in Q2 2020, an increase of 137.8%.
  • The Q2 2021 average price of USD/ISK was 123.5 compared to 141.2 in Q2 2020, a decrease of 12.5%

Exchange rate development 170

160

150

140

130

120

110

Price development of Mogas 95 and Diesel 900

750

600

450

300

150

0

USD/ISK

EUR/ISK

Mogas 95

Diesel

  • USD/ISK decreased by 2,9% and the difference between highest and lowest exchange rate in Q2 is 12,2%

EUR/ISK decreased by 0,4% and the difference between the highest and lowest exchange rate in Q1 is 7,2%

4

N1 HIGHLIGHTS Q2

  • Revenue was ISK 9,275 million, an increase of 28.2% YoY
  • Removal of COVID-19 restrictions had positive effect on sales in Q2 2021
  • Sales of fuel similar as year before. Sale of electricity immaterial in comparative amounts.
  • Devalueation of fuel inventory in Q1 2020 of ISK 140 million affect positively comparative amounts.
  • Gain from fuel hedges ISK 188 million between years.
  • Sales of grocery and convenience goods increased by 25.5% YoY
  • Sales of other goods increased by 9% YoY.
  • EBITDA was ISK 957 million, increase of 27,8% YoY.
  • Ísey skyr bar is doing well. Four new outlets planned to open in second half of year.

Amounts are in ISK million

Q2 2021

Q2 2020

Change

%Change

Total segment revenue

9,275

7,236

2,039

28.2%

Total operating expenses of segments

-8,318

-6,487

-1,831

28.2%

Segment EBITDA

957

749

208

27.8%

Segment depreciation and amortisation

-488

-680

192

-28.3%

Operating result of segments

469

68

401

584.8%

Financial expenses

-237

-246

8

-3.4%

Income tax expense

-45

38

-83

-218.9%

Profit (Loss)

187

-139

326

-234.2%

Segment assets

30,235

29,424

811

2.8%

Segment capital expenditure

373

288

85

29.4%

Segment liabilities

16,698

16,286

412

2.5%

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

  • Original document
  • Permalink

Disclaimer

FESTI hf. published this content on 29 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2021 10:26:10 UTC.