According to previously published profit forecast the company estimated that the EBITDA in 2018 would range from 2,800-3,000m ISK and that capital investments would range from 750-850m ISK.
Based on the currently available information Skeljungur has decided to raise the EBITDA forecast for 2018 from the range 2,800-3,000m ISK to 3,100-3,300m ISK. Capital investments range will remain unchanged, 750-850m ISK.
Information emerging from the preparation of financial statements for 1H and updated forecast for 2018 indicates that the overall results of the year will be better than anticipated. The main reason for improved results in 1H is better results from fuel sales. Jet sale and sale to foreign vessels was more than forecasted. The outlook for the second half of the year has also been raised in line with improved results.
It should be noted that the change to the EBITDA forecast is not based on audited or reviewed results. The company is still preparing its financial statements for 1H therefore premises and circumstances may change and consequently the company’s 1H and year end results may be different from the current outlook. Please note that the financial statements for 1H is reviewed but not audited.
Skeljungur hf. will publish its 1H 2018 financial results after market have closed on Tuesday, August 28, 2018. Skeljungur will host an open meeting for investors, analysts and the press on Wednesday, August 29, at 8:30 am at Hilton Reykjavik Nordica hotel, Suðurlandsbraut 2, 108 Reykjavík, meeting room I.
For further information please contact Hendrik Egholm, CEO, investors@skeljungur.is, tel: 444-3000 / 840-3002.
Skeljungur is an energy company with operations in Iceland and in the Faroe Islands. Skeljungur sells fuel and oil to consumers and businesses in fisheries, agriculture, transportation, aviation and construction under the brands Skeljungur, Orkan and OrkanX. The company also sells fertilizer and other chemical products. In Iceland the Company runs 65 gas stations and 4 oil depots. Magn P/F, Skeljungur´s subsidiary in the Faroe Islands, runs 11 retail and gas-stations and 2 oil depots. Magn also serves and sells oils for house heating to individuals and companies in the Faroe Islands. Skeljungur´s goal is to serve the energy needs of consumers and businesses in an efficient and safe way and in harmony with the environment.
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