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Eimskip adjusts expectations for 2019

Higher activity levels and increased cargo amounts make Iceland's Eimskip narrow its expectations for 2019. The first months of the year yielded considerably higher operating profits, according to the company.

Photo: PR-foto/Eimskip

Icelandic Eimskip adjusts its expectations for 2019.

This happens following a start to the year that, according to the logistics company, has been considerably better than last year, according to a press release.

"Main reasons for improved result between years are related to increased activity and volume in the Trans-Atlantic services and the Faroe Islands as well as better operating result in Norway," writes Eimskip, which also points to various cost savings as a cause.

Because of this, the company now adjusts its expectations for the operating profit, which is expected to land at a level between EUR 51 and 57 million. Previously, a profit at the level EUR 49-57 million was expected. The shipping company will not, however, change the top part of this span, as there is still uncertainty connected to factors like Iceland's economy.

Eimskip has not yet published its financial results for the first quarter. However, according to the company, the start of the year indicates an operating profit which will land between EUR 10.3 and 10.7 million. At the same time last year, the company had a profit of EUR 7.3 million.

The company will present its interim report for the first quarter on May 23.

English Edit: Jonas Sahl Jørgensen

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