Teymi profits hit 1354 million for 2007

Teymi profits in the year 2007 amounted to ISK 1,354 million. Inner growth of the company amounted to 15,4% compared to the year 2006 (pro-forma) and revenues to about ISK 21,5 billion. EBITDA amounted to ISK 4,009 million. Teymi has a current ratio of 1,25 and the equity ratio is 22,1%. Cash generated by operations amounted to ISK 3,258 million in 2007.

Highlights

ISK 1,354 million profit after tax in 2007
Revenues amount to ISK 21,5 billion constituting an inner growth of 15,4% from
the previous year (pro-forma)
EBITDA amounted to ISK 4,009 million
Recorded losses due to Hands Holding ISK 1,1 billion
Net foreign exchange difference related to long term liabilities positive in
the amount of ISK 930 million
Cash generated by operations ISK 3,258 million
Current ratio 1,25 at the end of 2007
Equity ratio 22% at the end of 2007

Árni Pétur Jónsson, CEO:
“We are pleased with these results and the earnings are in line with our
expectations at the beginning of the year. Our companies are gaining momentum,
they show considerable growth and are presenting very good results. Teymi’s
inner growth exceeds the previous year by over 15% which shows that our
companies are increasing their market share. Most of our subsidiaries are
presenting their best results so far and our cash flow is strong.

We are very optimistic at the beginning of this year and the prospects for our
operations are good despite the unstable environment of the economy. In the
electronic communications segment some important agreements have been concluded
and the IT segment has a good standing considering current and future
projects. These factors will sustain further growth of the group and increased
revenues.”

Teymi profit