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Stodir's profit for the second half of 2009 amounted to ISK 1,209 million

Stodir‘s Financial Statements for the year 2009 were presented at the Company‘s Annual General Meeting today. The book value of Stodir‘s assets on 31 December 2009 amounted to ISK 33.5 billion, and Stodir‘s debt at 31 December 2009 amounted to ISK 10 billion. The Company‘s equity at the end of the year 2009 therefore amounted to ISK 23.5 billion and the equity ratio was 70%.

The financial restructuring of Stodir has been completed, partly by means of composition were creditors acquired all shareholding in Stodir. In the Financial statements for 2009 Stodir´s profit for the second half of 2009 ISK, after operations had returned to normal, amounted to ISK 1,209 million. 

Stodir‘s main assets are a 99.9% stake in Tryggingamidstodin (TM) and a 40% stake in the European drinks producer Refresco, after taking into account 3i´s acquisition of a 20% share in e is a profit recognition due to amortization of debt as a result of the Company‘s composition. Stodir‘s profit for the full year 2009 therefore amounted to ISK 212 billion.

Refresco for EUR 84 million, which was announced yesterday. Among other assets are shareholdings in Royal Unibrew, Nordicom and Inspired Gaming.

The Company‘s shareholder base now consists of 109 shareholders. Three shareholders have more than 10% voting rights : Glitnir, Landsbankinn - NBI and Arion Bank.

Further information:
Julius Thorfinnsson
Telephone: (+354) 591 4400

Further information

Tel: +354 591 4400