BRIM HF. Condensed Consolidated
Interim Financial Statements
1 January - 30 September 2021
EUR
Brim hf. Norðurgarði 1 101 Reykjavík
Id. no. 541185-0389
Contents
Endorsement and Statement by the Board of Directors and CEO .................................................................. | 3 |
Consolidated Income Statement ..................................................................................................................... | 4 |
Consolidated Statement of Comprehensive Income ....................................................................................... | 5 |
Consolidated Statement of Financial Position ................................................................................................ | 6 |
Consolidated Statement of Changes in Equity ................................................................................................ | 7 |
Consolidated Statement of Cash Flows .......................................................................................................... | 8 |
Notes ............................................................................................................................................................... | 9 |
________________________________________________________________________________________________
Consolidated Interim Financial Statements of Brim hf. 30 September 2021 | 2 |
Endorsement and Statement by the
Board of Directors and CEO
The Condensed Consolidated Interim Financial Statements of Brim hf. have been prepared in accordance with International Financial Reporting Standards, IAS 34 Interim Financial Reporting, as adopted by the European Union. The Condensed Consolidated Interim Financial Statements includes the Consolidated Interim Financial Statements of Brim hf. and its subsidiaries, together referred to as "the Group".
According to the Income Statements net earnings for the period 1 January to 30 September 2021 amounted to 43,1 million euors (1 January to 30 September 2020 21,5 million euros).
Total Equity at the end of the period amounted to 366,6 million euros according to the Balance Sheet.
The Group also publishes non-financial information in connection with interim financial statements. The Group has developed and implemented environmental system in the Group's operations that maps the Group´s Carbon footprint. The Group uses this information to prioritize projects and minimize the environmental impact of the Group´s operations.
The Covid-19 pandemic had some effect on the Group´s operations during the period as in 2020. The Group´s management will continue to monitor the progress of the pandemic and the opertaions will be adapted to the government´s instructions at any given time.
Endorsement of the Board of Directors and CEO
The Condensed Consolidated Interim Financial Statements of Brim hf. for the period ended 30 September 2021 have been prepared in accordance with International Financial Reporting Standards as adopted by the European Union and additional requirements in the Icelandic Financial Statements Act. It is our opinion that the Condensed Consolidated Interim Financial Statements give a true and fair view of the financial performance and cash flow of the Group for the period ended 30 September 2021 and its financail position as at 30 September 2021.
The Board of Directors and CEO of Brim hf. have today discussed the Condensed Consolidated Interim Financial Statements for the period ended 30 September 2021 and confirm them by means of their signatures.
Reykjavík, 18 November 2021.
Board of Directors:
Kristján Þ. Davíðsson
Anna G. Sverrisdóttir
Hjálmar Kristjánsson
Kristrún Heimisdóttir
Magnús Gústafsson
CEO:
Guðmundur Kristjánsson
_______________________________________________________________________________________________
Consolidated Interim Financial Statements of Brim hf. 30 September 2021 | 3 |
Consolidated Income Statement
for the period 1 January to 30 September 2021
Third quarter | Year to date | |||||||||||
Note | 2021 | 2020 | 2021 | 2020 | ||||||||
1.7.-30.9. * | 1.7.-30.9. * | 1.1.-30.9. | 1.1.-30.9. | |||||||||
Sales ................................................................ | 91.557 | 80.679 | 291.636 | 213.770 | ||||||||
Cost of sales .................................................... | ( | 65.670) | ( | 53.154) | ( | 225.353) | ( | 166.702) | ||||
...................................................Gross profit | 25.887 | 27.525 | 66.283 | 47.068 | ||||||||
Other income ................................................... | 2.983 | 0 | 2.983 | 0 | ||||||||
Export expenses .............................................. | ( | 1.866) | ( | 1.632) | ( | 5.762) | ( | 5.215) | ||||
Other expenses ................................................ | 6 | ( | 2.290) | ( | 2.962) | ( | 7.370) | ( | 8.914) | |||
Profit from operations..................................... | 24.714 | 22.931 | 56.134 | 32.939 | ||||||||
Finance income ............................................... | 987 | 1.021 | 3.020 | 1.183 | ||||||||
Finance expense .............................................. | ( | 1.818) | ( | 2.212) | ( | 5.784) | ( | 5.605) | ||||
Net foreign exchange ...................................... | 231 | ( | 1.190) | ( | 152) | ( | 2.013) | |||||
Net finace expenses ........................................ | ( | 600) | ( | 2.381) | ( | 2.916) | ( | 6.435) | ||||
Share of associated companies ....................... | 86 | ( | 152) | 651 | 72 | |||||||
Profit before income tax ................................... | 24.200 | 20.398 | 53.869 | 26.576 | ||||||||
Income tax ....................................................... | ( | 4.334) | ( | 4.633) | ( | 10.776) | ( | 5.553) | ||||
Profit from ongoing operations ......................... | 19.866 | 15.765 | 43.093 | 21.023 | ||||||||
Profit from discontinued operations ................. | 0 | 282 | 0 | 472 | ||||||||
Profit for the period......................................... | 19.866 | 16.047 | 43.093 | 21.495 | ||||||||
EBITDA........................................................... | ||||||||||||
25.778 | 26.593 | 65.511 | 43.698 | |||||||||
Earnings per share: | ||||||||||||
Basic and diluted | ||||||||||||
earnings per share (ISK) ................................ | 0,0103 | 0,0084 | 0,0224 | 0,0112 |
Notes on pages 9 to 11 are an integral part of the Consolidated Financial Statements
_______________________________________________________________________________________________
Consolidated Interim Financial Statements of Brim hf. 30 September 2021 | 4 | All amounts are in thousands of euros |
Consolidated Statement of Comprehensive
Income for the period 1 January to 30 September
Third quarter | Year to date | ||||||||
2021 | 2020 | 2021 | 2020 | ||||||
1.7.-30.9. * | 1.7.-30.9. * | 1.1.-30.9. | 1.1.-30.9. | ||||||
Net earnings for the period ...................................... | 19.866 | 16.047 | 43.093 | 21.495 | |||||
Other Comprehensive income: | |||||||||
Items that may be reclassified subsequently to profit or loss: | |||||||||
Foreign currency translation differences | |||||||||
of foreign operations .............................................. | ( | 12) | ( 1.440) | 894 | ( | 2.048) | |||
Hedges for long-term liabilities .................................. | 121 | 36 | 401 | ( | 9) | ||||
Total comprehensive income for the period........... | 19.975 | 14.643 | 44.388 | 19.438 | |||||
Notes on pages 9 to 11 are an integral part of the Consolidated Financial Statements
________________________________________________________________________________________________
Consolidated Interim Financial Statements of Brim hf. 30 September 2021 | 5 | All amounts are in thousands of euros |
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Disclaimer
Brim hf. published this content on 19 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 November 2021 16:49:03 UTC.
