Published: 2015-10-26 10:33:21 CET
Icelandair Group hf.
Company Announcement

EBITDA forecast for 2015 increased to USD 210-215 million

The results for the third quarter 2015 will be better than anticipated when the last EBITDA forecast was published, according to a draft interim financial statement for the third quarter. The prospects for the fourth quarter are also better and the revised EBTIDA forecast for 2015 is USD 210-215 million.

According to the draft interim financial statement EBITDA for the third quarter is approx. USD 150 million compared to USD 124 million last year. Higher passenger revenue, lower fuel cost and lower maintenance cost than anticipated are the main reasons for better results in the third quarter.

The forecast for the fourth quarter assumes that EUR/USD will be 1.12 on average. The fuel price in October has already been established, but the forecast assumes that the fuel price will be USD/tonne 480 in November and USD/tonne 550 in December, not considering hedging.

The interim financial statement for the quarter will be published after the markets have closed on October 29th and an investor presentation will be held on October 30th at 8:30 am.

  

For further information:

Bjorgolfur Johannsson, President and CEO
bubbi@icelandairgroup.is
+ 354 896 1455

Bogi Nils Bogason, CFO
bogi@icelandairgroup.is
+354 665 8801