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welcomeTeymi’ s results Q2 2008
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programmeHighlightsIncome Statement, Balance Sheet and Statement
of Cash FlowYear 2008Q & A
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Sales ISK 6.4 billion
Teymi’s growth (inner growth13%) 24,3%- Electronic
Communications 10%- IT (inner growth 7%) 33%
EBITDA 1.045 mkr
Results ISK -610 million
Cash generated by operations before interests and tax ISK 797
million
Highlights : Q2 2008
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ISK 5 billion converted at exchange rate index 164
- Annual interest payments decreased by ISK 600 mkr (at current
interest rates)
Tal has become the third biggest telecom operator in Iceland-
Sko and Hive merged under the brand Tal (focusing on low-end
markets)
Kall in the Faroe Islands became Vodafone Faroe Islands-
Subsidiary of Vodafone Iceland- Increasing products and services on
offer in the Faroes at lower cost
Rationalisation- Streamlining operations - Decreasing
investments
Highlights : Q2 2008
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Solid operations
Q2 07 Q3 07 Q4 07 Q1 08 Q2 08
Turnover Ebitda Quarter results
Negative foreign exchange differenceISK 5,2 billion
mkr
1,160
-1.187-221
-4.899
1,027
1,135 1,063 1,003
ISK 1,1 recorded loss due to Hands
Holding
5,165 5,3226,249 5,973 6,418
1,045
-610
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Development of revenues(in ISK million)
2Q 07 2Q 08
535
6.4185.165
+24%
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Development of revenues in electronic communications
Q2 06 Q2 07 Q2 08
3.4963.180
2.671
Q2 07 Q3 07 Q4 07 Q1 08 Q2 08
3.0473.2503.3533.180
3.496
ISK million
+19%
+10%
31% inner growth in two years
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Development of revenues in IT
Q2 07 Q2 08
5362.908
2.186
Q2 07 Q3 07 Q4 07 Q1 08 Q2 08
2.908
469536
3.2293.342
2.0442.186
ISK million
+33%
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Ebitda contribution margin
Q2 07 Q2 08
40
1.0451.027
18,716,3
%
mkr
1H 07 1H 08
162
2.0481.812
17,6 16,5
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Ebitda contribution margin - electronic communications
Q2 07 Q2 08
789829
26,122,6
%
mkr
1H 07 1H 08
1.4281.393
23,0 21,8
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Ebitda contribution margin - IT
Q2 07 Q2 08
40
291238
10,2 10,0%
mkr
1H 07 2H 08
162
699530
12,411,4
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Sales and ebitda by segmentsFirst half of 2008
Electronic communications52%IT
48%
Sales
Electronic communications67%
IT33%
Ebitda
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programmeHighlightsIncome Statement, Balance Sheet and Statment
of Cash FlowYear 2008Q & A
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Income Statement
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Balance Sheet - Assets
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Balance Sheet - Equity and Liabilities
Interestbearing liabilities after cash (“net debt”) amounts to
ISK 27,7 billionEquity ratio 18% at the end of June 2008Current
ratio 0,82 at the end of June 2008
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Cash Flow
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Financing 30 June 2008
44%
37%
19%
ISK indexedForeign currencyISK without indexation
StatusWeighted average interest rates at 11,2% (liabilitites
in ISK without indexation raise the average)
Permission to convert currency
Aiming at maintaining majority of liabilities in
foreign currency
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programmeHighlightsIncome Statement, Balance Sheet and Statement
of Cash FlowYear 2008Q & A
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Analysts forecasts for Q2
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Summary
Acceptable results in a difficult environment [24% growth in
sales]
Strong Cash Flow [ISK 1,656 million from operations]
Annual interest payments decreased by ISK 600 million [ISK 5
billion converted in foreign currency]
Tal the third biggest telecom operator in Iceland [focusing on
low-end markets]
Kall in the Faroe Islands becomes Vodafone [subsidiary of
Vodafone Iceland]
The state of the national economy calls for
rationalisationEnacted measures already yielding results
Investments delayed
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Q & A
