Q1 2022 Financial Results
Operation in Q1 2022
Improvement in performance between years
•
.
•
•
EBITDA increases by 4.2% from Q1 2021
Operating income increases YoY
Mobile revenues increase by almost 9%, which is
related to the success of prenna and increased SMS
wholesale. Roaming income from Icelanders abroad
increases significantly but a small increase from tourists
in Iceland.
⚫ TV still growing - advertising revenue increases.
Data revenue remains at similar levels.
Operating profit increases by ISK 70 million YoY
Depreciation unchanged between periods.
Profit from continued operations increases by almost
ISK 180 million
Capital gain from the sale of shares in Auðkenni was ISK
113 million.
Síminn had interest income of ISK 16 billion financing to
Míla in Q1 2021. Míla was refinanced with an external
loan at the beginning of Q2 2021 and all financing from
Síminn was discontinued.
•
•
Wage costs increase by ISK 48 million or 4.7%
Most of this is due to layoffs in Q1 2022.
The largest cost items unchanged between periods
•
•
Advisory fees reduced significantly.
.
Marketing costs increase but sales costs decrease.
⚫ The cost related to the sale of Míla is booked as prepaid
•
cost
Will be netted against the capital gain when the
transaction is completed.
The effect of discontinued operations on Q1 2022 is
solely due to Míla's operations
•
Q1 2021, in addition to Míla, included Sensa's operations
and Sensa's capital gains.View entire presentation