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Origo hf. had previously announced that its results in the third quarter would be similar to recent years.
However, in preparing the interim financial statements for Q3 2018, it has emerged that the Company's operating results will be significantly above the levels seen in Q3 2017.
The Company's projected revenues are similar to those seen in the first and second quarters.
It is estimated that the Company's earnings before interest, taxes, depreciation and amortization (EBITDA) will be in the range of ISK 350 million to 370 million, as compared to ISK 229 million in Q3 2017.
Earnings before interest and tax (EBIT) are projected at around ISK 170 million to 200 million, as compared to ISK 86 million over the same period last year.
Higher revenues from service contracts along with significantly higher revenues and improved earnings at Tempo are the main reasons for the improved operating results in the quarter.
The interim financial statements are still in the process of being completed and so the above figures are subject to change.
The Company will publish its results for Q3 2018 after close of trading on October 31, 2018. Origo hf. will hold an open meeting on November 1, 2018, at 08:30 a.m., in the Company's meeting room at Borgartún 37, 105 Reykjavik, where the results for the quarter will be presented.