Exista reports EUR 862 million 1H profit
Today the financial services company Exista hf. published its interim financial statements for the first six months of the year 2007.
Performance in the second quarter: * After-tax profit EUR 221 million * Earnings per share during the period 1.96 cents * Annualised return on equity 32%
Main results from the interim financial statements for the period January through June 2007: * After-tax profit EUR 862 million * Earnings per share during the period 7.65 cents * Annualised return on equity 70% * Operating Businesses yielded a profit of EUR 210 million after taxes * Investment Businesses yielded a profit of EUR 652 million after taxes * Total assets EUR 7.7 billion at the end of June, an increase of 75% during the first half of the year * Total equity EUR 2.8 billion, an increase of 49% during the first half of the year * Equity ratio 36.7% at the end of the period
Lýdur Gudmundsson, Executive Chairman of the Board: "Operations in the second quarter were sound, and Exista turned in a strong performance for the first six months of the year. Market conditions have been favourable, which has facilitated the Group's development. We are working steadily toward our objective of creating an even broader revenue base for Exista."
For further information on the Group's interim accounts, please contact: Sigurdur Nordal Managing Director Group Communications tel: +354 550 8620 (email@example.com)
About Exista Exista hf. is a financial services group with particular focus on insurance and asset finance. As an international investor, Exista also has strategic holdings in several companies, including Sampo Group, Kaupthing Bank, Bakkavör Group, and Iceland Telecom. Exista's goal is to use its financial strength for the further development of its business in Northern Europe. Information on Exista hf. and its financial statements can be found on the Group's website: www.exista.com.