Eimskip‘s earnings negative by EUR 648 million in 2008

30.01.2009

Highlights:

• Revenues were EUR 175,2 million (Q4 2007: EUR 168,9 million), an increase of 3,7% from last year
• Expenses were EUR 171,1 million (Q4 2007: EUR 149,6 million), an increase of 14,3% from last year
• EBITDA was EUR 4,1 million, or 3,7% of gross profit. EBITDA went down by 78,8% from 2007, where it totaled EUR 19,3 million, or 11,4% gross profit
• Total financing costs were EUR 21,9 million in Q4, with EUR 2 million due to currency exchange gains
• Losses from continued operations were EUR 133,0 million
• Loss from discontinued operations was EUR 356,0 million
• Loss after taxes was EUR 489 million in Q4, compared to EUR 7,8 million in Q4 2007
• Total assets at the end of 2008 were EUR 1.943,9 million
• Total liabilities at the end of 2008 were EUR 2.078,1 million
• Equity at the end of 2008 was negative by EUR 134,2 million

Eimskip