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.
Festi hf, formerly N1 hf, is an Iceland-based retail and service company. It provides fuel, supplies, refreshments and recreational products through its distribution system. It offers targeted product range and business, aviation and marine services. It operates a chain of stores, and service and vehicle maintenance stations. It is divided in two segments: Fuel and Other goods. It sells jet and aviation fuel at the Keflavik and Reykjavik airports, as well as provides aviation operating goods, such as lubricants for propellers and hydraulic system oils. Additionally, it operates marine service stations and provides fuel, lubrication and operational products to vessels located in the north Atlantic. It also supplies contractors, food companies and farmers with a range of goods, such as hand tools, work clothing, chemicals, cleaning products, spare parts and tires. Its network comprises over 100 outlets: service areas, shops, and petrol and vehicle maintenance stations.