Announcement • Jun 06
Reykjavík District Court Dismisses Alcoa Fjarðaál Sf.’S Second Tort Case Against Eimskipafélag Íslands Hf., Eimskip Ísland Ehf., Samskipum Hf., Og Samskip Holding B.V Eimskipafélag Íslands hf. stated that Reykjavík District Court dismissed Alcoa Fjarðaál sf.’s second tort case against Eimskipafélag Íslands hf., Eimskip Ísland ehf., Samskipum hf., og Samskip Holding B.V. In May 2025 Alcoa decided to suspend its previous case against Eimskip and pay the litigation cost. In December 2025 Alcoa summoned a new case which relates to the same matter as the case it suspended, except that the second summons claim was recognition of liability for compensation, without an amount. That case has now been dismissed. It was and is Eimskip ‘s assessment that the claim is baseless, and the conditions of tort law are not fulfilled. Furthermore, Alcoa’s alleged loss and therefore its claim is not based on any established documentation. Reported Earnings • May 06
First quarter 2026 earnings released: €0.028 loss per share (vs €0.003 loss in 1Q 2025) First quarter 2026 results: €0.028 loss per share (further deteriorated from €0.003 loss in 1Q 2025). Revenue: €191.7m (down 4.3% from 1Q 2025). Net loss: €4.49m (loss widened €4.00m from 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 39 percentage points per year, which is a significant difference in performance. Announcement • Apr 30
Eimskip Announces Resignation of Executive Vice President of Iceland Domestic Operations Eimskip announced that Edda Rut Björnsdóttir, Executive Vice President of Eimskip’s Iceland Domestic Operations, has requested to leave her position with the Company. Edda will remain with the company into the summer or until the position has been filled. In recent years, Edda has been a major participant in wide range of projects within Eimskip and has led important changes, including to the Company’s culture and operational changes in the Iceland Domestic Division. Announcement • Mar 27
Eimskipafélag Íslands Hf. Approves the Election of Frosti Ólafsson to the Board of Directors Eimskipafélag Íslands hf. at its Annual General Meeting held on March 26, 2026, approved the election of Frosti Ólafsson to the Board of Directors. Announcement • Mar 23
Eimskipafélag Íslands hf.(ICSE:EIM) dropped from FTSE All-World Index (USD) Eimskipafélag Íslands hf.(ICSE:EIM) dropped from FTSE All-World Index (USD) Upcoming Dividend • Mar 20
Upcoming dividend of Kr4.22 per share Eligible shareholders must have bought the stock before 27 March 2026. Payment date: 29 April 2026. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Icelandic dividend payers (4.0%). Lower than average of industry peers (4.4%). Declared Dividend • Mar 06
Dividend of Kr4.22 announced Shareholders will receive a dividend of Kr4.22. Ex-date: 27th March 2026 Payment date: 29th April 2026 Dividend yield will be 1.6%, which is lower than the industry average of 15%. Sustainability & Growth Dividend is not adequately covered by earnings (91% earnings payout ratio). However, it is well covered by cash flows (39% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 18% over the last 5 years, which if continued should maintain adequate earnings cover for the dividend. Announcement • Mar 05
Eimskipafélag Íslands hf. announces Annual dividend, payable on April 29, 2026 Eimskipafélag Íslands hf. announced Annual dividend of ISK 4.2200 per share payable on April 29, 2026, ex-date on March 27, 2026 and record date on March 30, 2026. Announcement • Feb 03
Eimskipafélag Íslands hf. to Report Q4, 2025 Final Results on Mar 03, 2026 Eimskipafélag Íslands hf. announced that they will report Q4, 2025 final results at 4:00 PM, Eastern Daylight on Mar 03, 2026 New Risk • Jan 29
New major risk - Revenue and earnings growth Earnings have declined by 2.7% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (4.3% average weekly change). Earnings have declined by 2.7% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (91% payout ratio). Profit margins are more than 30% lower than last year (1.2% net profit margin). Reported Earnings • Jan 29
Full year 2025 earnings released: EPS: €0.057 (vs €0.18 in FY 2024) Full year 2025 results: EPS: €0.057 (down from €0.18 in FY 2024). Revenue: €807.5m (down 4.7% from FY 2024). Net income: €9.30m (down 69% from FY 2024). Profit margin: 1.2% (down from 3.5% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to Kr310, the stock trades at a trailing P/E ratio of 13.8x. Average trailing P/E is 9x in the Shipping industry in Europe. Total loss to shareholders of 34% over the past three years. New Risk • Sep 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Icelandic stocks, typically moving 3.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (3.2% average weekly change). New Risk • Aug 27
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.3x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Aug 27
Second quarter 2025 earnings released: EPS: €0.028 (vs €0.047 in 2Q 2024) Second quarter 2025 results: EPS: €0.028 (down from €0.047 in 2Q 2024). Revenue: €201.1m (down 4.1% from 2Q 2024). Net income: €4.56m (down 41% from 2Q 2024). Profit margin: 2.3% (down from 3.7% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Announcement • Jun 25
Eimskipafélag Íslands hf., Annual General Meeting, Mar 26, 2026 Eimskipafélag Íslands hf., Annual General Meeting, Mar 26, 2026. New Risk • Jun 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Icelandic stocks, typically moving 4.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (4.2% average weekly change). Profit margins are more than 30% lower than last year (3.4% net profit margin). Reported Earnings • May 14
First quarter 2025 earnings released: €0.003 loss per share (vs €0.003 profit in 1Q 2024) First quarter 2025 results: €0.003 loss per share (down from €0.003 profit in 1Q 2024). Revenue: €200.3m (up 2.3% from 1Q 2024). Net loss: €494.0k (down 210% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Board Change • Apr 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Chairman of the Board Oskar Magnússon was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Mar 21
Eimskipafélag Íslands hf. announces Annual dividend, payable on April 29, 2025 Eimskipafélag Íslands hf. announced Annual dividend of ISK 13.3300 per share payable on April 29, 2025, ex-date on March 28, 2025 and record date on March 31, 2025. New Risk • Mar 14
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Icelandic stocks, typically moving 4.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (4.3% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (3.5% net profit margin). Reported Earnings • Mar 10
Full year 2024 earnings released: EPS: €0.18 (vs €0.33 in FY 2023) Full year 2024 results: EPS: €0.18 (down from €0.33 in FY 2023). Revenue: €847.1m (up 3.6% from FY 2023). Net income: €29.8m (down 45% from FY 2023). Profit margin: 3.5% (down from 6.6% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 05
Full year 2024 earnings released: EPS: €0.18 (vs €0.33 in FY 2023) Full year 2024 results: EPS: €0.18 (down from €0.33 in FY 2023). Revenue: €847.1m (up 2.4% from FY 2023). Net income: €30.0m (down 45% from FY 2023). Profit margin: 3.5% (down from 6.5% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to Kr438, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 8x in the Shipping industry in Europe. Total returns to shareholders of 5.8% over the past three years. Announcement • Nov 27
Eimskipafélag Announces Executive Changes Eimskipafélag Íslands announced Edda Rut Björnsdóttir has been appointed as the Executive Vice President of Domestic Iceland division at Eimskip. The Domestic Iceland division includes land transport and distribution center, warehouse and cold store operations, as well as facility management. The subsidiary Sæferðir also falls under this division. The division employs about 400 people across 18 locations nationwide. Edda started as the Marketing and Communications Manager at Eimskip in 2019 and has been the Executive Vice President of the Human Resources and Communications division since 2020. Before joining Eimskip, she worked at Íslandsbanki for 12 years in various roles, most recently as an executive director of Sales and Business Management in the Corporate and Investment banking division. Edda holds a B.Sc. in Business Administration with a focus on Computer Science from Reykjavik University. She is the Vice Chairman of the Icelandic Federation of Trade and Services and serves on the board and executive committee of the Confederation of Icelandic Enterprise. Harpa Hödd Sigurðardóttir has been appointed as the Executive Vice President of the Human Resources and Communications division, replacing Edda. Harpa has been with Eimskip since 2019 in several roles within the Human Resources and Communications division, most recently as a senior manager in Learning and Development. Before joining Eimskip, she worked in human resources at Lyfja hf. Harpa holds a B.Sc. in Psychology and an M.Sc. in Human Resource Management from the University of Iceland. The Human Resources and Communications division includes human resources, marketing, and communications. Sustainability matters, which previously belonged to this division, will be transferred to the Finance Division. Alongside these changes, Jónína Magnúsdóttir, who has been the Executive Vice President of the Domestic division, is stepping down, and hank her for her service to the Company. The changes are effective immediately. Reported Earnings • Nov 06
Third quarter 2024 earnings released: EPS: €0.088 (vs €0.10 in 3Q 2023) Third quarter 2024 results: EPS: €0.088 (down from €0.10 in 3Q 2023). Revenue: €220.6m (up 9.2% from 3Q 2023). Net income: €14.4m (down 13% from 3Q 2023). Profit margin: 6.5% (down from 8.2% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 7% per year, which means it is performing significantly worse than earnings. New Risk • Aug 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Icelandic stocks, typically moving 3.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (40% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (3.1% average weekly change). Profit margins are more than 30% lower than last year (4.1% net profit margin). Reported Earnings • Aug 21
Second quarter 2024 earnings released: EPS: €0.047 (vs €0.10 in 2Q 2023) Second quarter 2024 results: EPS: €0.047 (down from €0.10 in 2Q 2023). Revenue: €209.6m (flat on 2Q 2023). Net income: €7.70m (down 54% from 2Q 2023). Profit margin: 3.7% (down from 8.0% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Jul 24
Eimskip Appoints Rósa Guðmundsdóttir as CFO, Effective September, 2024 Rósa Guðmundsdóttir has been hired as CFO of Eimskip and will start in September, 2024. Rósa has extensive experience in domestic and international finance and since 2021 she has been CFO of the Nasdaq Iceland listed real estate company Heimar hf. From 2004 Rósa worked at Íslandsbanki in various roles e.g. within International division and as a business manager at Corporate and investment banking, where she was responsible for financing many of the bank‘s largest corporate clients. From 2017 Rósa was an Executive Director in the Personal Banking Division responsible for the pricing of personal savings and loan products and led the implementation of digital solutions that supported the transformation of the bank‘s personal banking service. Rósa holds an M.S. degree in Industrial Engineering and Operations Research from Pennsylvania State University and a B.S. degree in Mechanical and Industrial Engineering from the University of Iceland. She has also completed a certification in securities trading. Announcement • Jun 21
Eimskipafélag Íslands hf. Announces Resignation of María Björk Einarsdóttir as CFO Eimskipafélag Íslands hf. announced María Björk Einarsdóttir has asked to be resigned from her position as CFO of Eimskip. María will continue in the position until September 1 or until a replacement has been hired. Announcement • May 15
Eimskip Announces Resignation of Jóhanna Á Bergi as Alternate Member of the Board of Directors Eimskip received a notification from Jóhanna á Bergi where she resigns as an alternate member of the Board of Directors of the Company as she will become a board member of Royal Arctic Line. Reported Earnings • May 08
First quarter 2024 earnings released: EPS: €0.003 (vs €0.073 in 1Q 2023) First quarter 2024 results: EPS: €0.003 (down from €0.073 in 1Q 2023). Revenue: €195.9m (down 8.7% from 1Q 2023). Net income: €451.0k (down 96% from 1Q 2023). Profit margin: 0.2% (down from 5.7% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. New Risk • Mar 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Icelandic stocks, typically moving 3.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (3.9% average weekly change). Upcoming Dividend • Mar 01
Upcoming dividend of Kr22.53 per share Eligible shareholders must have bought the stock before 08 March 2024. Payment date: 17 April 2024. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 5.8%. Within top quartile of Icelandic dividend payers (5.5%). Lower than average of industry peers (16%). Declared Dividend • Feb 18
Final dividend of Kr22.53 announced Shareholders will receive a dividend of Kr22.53. Ex-date: 8th March 2024 Payment date: 17th April 2024 Dividend yield will be 8.5%, which is lower than the industry average of 15%. Sustainability & Growth Dividend is well covered by both earnings (46% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 28% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 54% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 14
Full year 2023 earnings released: EPS: €0.33 (vs €0.48 in FY 2022) Full year 2023 results: EPS: €0.33 (down from €0.48 in FY 2022). Revenue: €827.5m (down 23% from FY 2022). Net income: €54.1m (down 35% from FY 2022). Profit margin: 6.5% (down from 7.8% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Jan 19
Eimskip Appoints Jónína Guðný Magnúsdóttir as Executive Vice President of Iceland Domestic Operations Eimskip appoints Jónína Guðný Magnúsdóttir as Executive Vice President of Iceland Domestic Operations. The domestic Iceland division includes land transport and distribution center, warehouse and cold store operation, facility management and the subsidiary Sæferðir. Around 400 employees work in the division at 18 locations around Iceland. Jónína knows Eimskip well through here previous tenure with the Company from 2014 to 2019, at the domestic operation as well as being a manager in the Container Management unit. Later, she was a Managing Director of the Sales and Service division at Terra Environmental Services and for the past year as Managing Director of Quality and Sustainability at Hekla Cars in Iceland. Jónína holds a B.Sc. degree in Industrial Engineering from the University of Iceland and a M.Sc. in Systems Engineering, Policy analysis and Management from Delft University of Technology in the Netherlands with special focus on logistics and product management. Jónína is married to Bjarni Þór Árnason and they have two sons. Jónína will join Eimskip in beginning of February. Announcement • Nov 10
Eimskip Announces the Appointment of Managing Director of Eimskip Netherlands Bödvar Örn Kristinsson, Executive Vice President of Iceland Domestic Operations, has been appointed Managing Director of Eimskip Netherlands which is a part of Eimskip’s International Division as of next week. Bödvar Örn has worked for Eimskip for almost 20 years and has extensive knowledge of the Company and the transportation sector and his experience will further strengthen the operation and development in the Netherlands and support the Company’s strong service offering. Bödvar holds a B.Sc. degree in Business Administration from Bifrost University in Iceland and a M.Sc. in Transportation Economics and Logistics from Erasmus University in Rotterdam. Reported Earnings • Nov 08
Third quarter 2023 earnings released: EPS: €0.10 (vs €0.16 in 3Q 2022) Third quarter 2023 results: EPS: €0.10 (down from €0.16 in 3Q 2022). Revenue: €202.0m (down 31% from 3Q 2022). Net income: €16.6m (down 40% from 3Q 2022). Profit margin: 8.2% (down from 9.5% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 16
Second quarter 2023 earnings released: EPS: €0.10 (vs €0.14 in 2Q 2022) Second quarter 2023 results: EPS: €0.10 (down from €0.14 in 2Q 2022). Revenue: €209.5m (down 26% from 2Q 2022). Net income: €16.7m (down 31% from 2Q 2022). Profit margin: 8.0% (down from 8.5% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 58% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 17
First quarter 2023 earnings released: EPS: €0.073 (vs €0.057 in 1Q 2022) First quarter 2023 results: EPS: €0.073 (up from €0.057 in 1Q 2022). Revenue: €214.6m (down 11% from 1Q 2022). Net income: €12.3m (up 24% from 1Q 2022). Profit margin: 5.7% (up from 4.1% in 1Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 60% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 17
Upcoming dividend of Kr11.47 per share at 3.5% yield Eligible shareholders must have bought the stock before 24 April 2023. Payment date: 26 April 2023. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Icelandic dividend payers (4.9%). Lower than average of industry peers (14%). Upcoming Dividend • Mar 03
Upcoming dividend of Kr20.08 per share at 3.5% yield Eligible shareholders must have bought the stock before 10 March 2023. Payment date: 19 April 2023. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Icelandic dividend payers (4.8%). Lower than average of industry peers (17%). Announcement • Feb 16
Eimskipafélag Íslands hf. Proposes Dividend for the Year 2022 Eimskipafélag Íslands hf. announced the board of directors will propose to the annual general meeting, which will be held on 9 March 2023, to pay approximately EUR 22.5 million in dividend for the year 2022, equivalent to 26% of net earnings. Announcement • Jan 20
Eimskipafélag Íslands Hf. Provides Earnings Guidance for the Fourth Quarter of 2022 Eimskipafélag Íslands hf. provided earnings guidance for the fourth quarter of 2022. For the quarter, the company estimated EBIT in the range of EUR 20.9 million to EUR 22.9 million compared to EBIT of EUR 17.5 million for the same period 2021. Board Change • Nov 16
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 2 experienced directors. 1 highly experienced director. 1 independent director (4 non-independent directors). Independent Director Larus Blondal is the most experienced director on the board, commencing their role in 2014. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Reported Earnings • Nov 05
Third quarter 2022 earnings released: EPS: €0.16 (vs €0.12 in 3Q 2021) Third quarter 2022 results: EPS: €0.16 (up from €0.12 in 3Q 2021). Revenue: €292.2m (up 24% from 3Q 2021). Net income: €27.7m (up 38% from 3Q 2021). Profit margin: 9.5% (up from 8.5% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Announcement • Oct 14
Eimskipafélag Íslands hf. Provides Earnings Guidance for the Third Quarter of Fiscal Year 2022 Eimskipafélag Íslands hf. provided earnings guidance for the third quarter of fiscal year 2022. For the quarter, the company expects EBIT to be in the range of EUR 32.8 million to EUR 34.3 million. Reported Earnings • Aug 20
Second quarter 2022 earnings released: EPS: €0.14 (vs €0.016 in 2Q 2021) Second quarter 2022 results: EPS: €0.14 (up from €0.016 in 2Q 2021). Revenue: €283.1m (up 34% from 2Q 2021). Net income: €24.1m (up €21.3m from 2Q 2021). Profit margin: 8.5% (up from 1.3% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has only increased by 49% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improved over the past week After last week's 18% share price gain to Kr545, the stock trades at a trailing P/E ratio of 14.7x. Average trailing P/E is 7x in the Shipping industry in Europe. Total returns to shareholders of 220% over the past three years. Announcement • Jul 07
Eimskipafélag Íslands hf. Provides Earnings Guidance for the Second Quarter of 2022 Eimskipafélag Íslands hf. provided earnings guidance for the second quarter of 2022. For the quarter, the company's EBIT in the quarter is estimated in the range of EUR 28.5 million – EUR 32 million compared to adjusted EBIT of EUR 17.5 million for the same period 2021. Announcement • Jun 08
Eimskipafélag Íslands hf. (ICSE:EIM) commences an Equity Buyback for its own shares, under the authorization approved on March 17, 2022. Eimskipafélag Íslands hf. (ICSE:EIM) commences share repurchases on June 1, 2022, under the program mandated by the shareholders in the Annual General Meeting held on March 17, 2022. As per the mandate, the company is authorized to repurchase its own shares, such that the company’s holding does not exceed 10% of its issued share capital. The purpose of the share repurchase is capital share reduction and/or to fulfil the company’s obligations that the company may undertake in accordance with the stock option plan. The program will be valid for 18 months till September 17, 2023.
On May 30, 2022, the company announces a share repurchase program. Under the program, the company will repurchase up to 1,730,000 shares, representing 1% of its issued share capital for ISK 900 million. The maximum price which may be paid for an ordinary share shall not be higher than the price of the last independent trade or the highest independent bid in Nasdaq Iceland at the time of the transaction. The company entered into an agreement with Arion bank hf. to repurchase its own shares. The repurchases will commence on June 1, 2022, and the program will expire on September 17, 2023. Reported Earnings • May 15
First quarter 2022 earnings released: EPS: €0.057 (vs €0.014 in 1Q 2021) First quarter 2022 results: EPS: €0.057 (up from €0.014 in 1Q 2021). Revenue: €239.7m (up 33% from 1Q 2021). Net income: €9.94m (up 284% from 1Q 2021). Profit margin: 4.1% (up from 1.4% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 2 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Director Larus Blondal is the most experienced director on the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Upcoming Dividend • Apr 18
Upcoming dividend of Kr6.21 per share Eligible shareholders must have bought the stock before 25 April 2022. Payment date: 27 April 2022. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Icelandic dividend payers (4.4%). Lower than average of industry peers (9.8%). Announcement • Apr 10
Eimskip Provides Earnings Guidance for the First Quarter Ended March 2022 Eimskip provided earnings guidance for the first quarter ended March 2022. EBIT in the quarter is estimated in the range of EUR 11.7 million - 14.7 million compared to EBIT of EUR 4.5 million for the same period 2021. Upcoming Dividend • Mar 11
Upcoming dividend of Kr14.27 per share Eligible shareholders must have bought the stock before 18 March 2022. Payment date: 20 April 2022. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Icelandic dividend payers (6.2%). Lower than average of industry peers (6.4%). Reported Earnings • Feb 19
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: €0.22 (up from €0.025 in FY 2020). Revenue: €882.7m (up 32% from FY 2020). Net income: €38.3m (up €33.8m from FY 2020). Profit margin: 4.3% (up from 0.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Announcement • Jan 22
Eimskipafélag Íslands hf. Provides Earnings Guidance for the Fourth Quarter 2021 Eimskipafélag Íslands hf. provided earnings guidance for the fourth quarter 2021. For the quarter, the company expects EBIT will be around EUR 17.5 million compared to EBIT of EUR 3.2 million for the same period 2020. Announcement • Dec 22
Eimskipafélag Íslands Hf. Provides Earnings Guidance for the Fourth Quarter of 2021 Eimskipafélag Íslands hf. provided earnings guidance for the fourth quarter of 2021. For the quarter, the company EBIT in the range of EUR 12.7to 15.7 million, given expected depreciation in the fourth quarter, compared to EBIT of EUR 3.2 million for the same period last year. Reported Earnings • Nov 11
Third quarter 2021 earnings released: EPS €0.12 (vs €0.034 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €236.6m (up 39% from 3Q 2020). Net income: €20.1m (up 226% from 3Q 2020). Profit margin: 8.5% (up from 3.6% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 38% per year whereas the company’s share price has increased by 35% per year. Announcement • Sep 21
Eimskipafélag Íslands Hf. Provides Financial Guidance for the Third Quarter of 2021 Eimskipafélag Íslands hf. provided financial guidance for the third quarter of 2021. For the quarter, the company expected EBIT in the range of EUR 20.1 million to EUR 23.1 million, given expected depreciation in the third quarter, compared to EBIT of EUR 10.4 million for the same period last year. Reported Earnings • Aug 20
Second quarter 2021 earnings released: EPS €0.016 (vs €0.013 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: €211.1m (up 32% from 2Q 2020). Net income: €2.75m (up 16% from 2Q 2020). Profit margin: 1.3% (down from 1.5% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improved over the past week After last week's 15% share price gain to €358, the stock trades at a trailing P/E ratio of 37.1x. Average trailing P/E is 19x in the Shipping industry in Europe. Total returns to shareholders of 70% over the past three years. Reported Earnings • May 13
First quarter 2021 earnings released: EPS €0.014 (vs €0.027 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €180.2m (up 12% from 1Q 2020). Net income: €2.59m (up €7.46m from 1Q 2020). Profit margin: 1.4% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Reported Earnings • Mar 27
Full year 2020 earnings released: EPS €0.025 (vs €0.004 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: €668.3m (down 1.7% from FY 2019). Net income: €4.47m (up 484% from FY 2019). Profit margin: 0.7% (up from 0.1% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Mar 20
Upcoming Dividend of Kr2.47 Per Share Will be paid on the 15th of April to those who are registered shareholders by the 26th of March. The trailing yield of 0.8% is below the top quartile of Icelandic dividend payers (2.1%), and is lower than industry peers (2.2%). Announcement • Mar 12
Eimskipafélag Íslands Hf. Proposes Dividend for the Year 2020, Payable on 15 April 2021 Eimskipafélag Íslands hf. announced that the Board of Directors proposes that the Company pays a dividend of ISK 2.47 per share to shareholders for the year 2020. The proposed total amount is ISK 446.7 million, corresponding to approximately 64.9% of the Company’s net earnings. Ex-Date is 26 March 2021, the Record Date 1 is 29 March 2021 and the Payment Date is 15 April 2021. Reported Earnings • Feb 28
Full year 2020 earnings released: EPS €0.025 (vs €0.004 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: €668.3m (down 1.7% from FY 2019). Net income: €4.45m (up 482% from FY 2019). Profit margin: 0.7% (up from 0.1% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 87% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 24
New 90-day high: Kr296 The company is up 39% from its price of Kr213 on 26 November 2020. The Icelandic market is up 25% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Shipping industry, which is up 17% over the same period.