Skipti hf.
Financial Statement Release

Skipti financial results for 2012

Net loss after taxes ISK 3.4 billion compared with ISK 10.6 billion in 2011

Adjusted EBITDA, net of extraordinary items, was ISK 8.1 billion

All Skipti´s creditors have agreed to the proposal on financial restructuring

-- Sales were ISK 28.9 billion, compared to ISK 27.9 billion in the preceding
year.
-- Earnings before depreciation and financial items (EBITDA) was ISK 7.4
billion, compared to ISK 6.0 billion in 2011. The increase in EBITDA is
mainly a result of streamlining measures. EBITDA ratio was 25.5%, but was
21.5% in 2011.
-- Adjusted EBITDA ratio, net of extraordinary items, was 28% but was 22.6% in
2011.
-- Cash from operations was ISK 6.3 billion, compared to ISK 4.5 billion in
2011. After tax and interest, cash from operations was ISK 4.2 billion.
-- Net financial expenses for the year were ISK 5.5 billion of which finance
cost was ISK 5.6 billion, interest earnings...