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Key Figures

Information about business, cash flow and economy in the number of last years and a list of analysts that cover Sýn hf.

During the year 2021, the company sold inactive mobile infrastructure and the sale amount was 6,946 billion ISK. The book value of the assets sold amounted to 401 million ISK and the sale profit amounted to 6,5 billion ISK. Alongside the sale, the Group entered a long-term lease agreement. As required by the IFRS 16 Lease standard a part of the sales gain is deferred and not recognised in profit or loss upon the sale. Sales gain recognised in profit or loss upon the sale amounts to 2,552 million ISK. Core business has improved and EBIT adjusted for infrastructure sales amounts to 734 million ISK which is an increase of 573 million ISK between years.

Total assets amounted to 36,501 millions ISK at year end and increased by 18.3% between years. The increase is mostly related to the increase of right-to-use assets of 2,882 million ISK following the long-term lease agreement alongside the sale of inactive infrastructure, an increase of 3,383 million ISK in available cash and an increase in payables due to VAT form the sale which reconciles in higher short-term liabilities.

Current ratio for year end 2021 is 1,58 compaired to 1,10 in year end of 2020. In the beginning of 2022 the board approved a buyback of own shares for 1,390 million ISK. Following the approval a buyback plan was initiated for an additional 600 million ISK. When adjusted to this the current ration is 1,31.