Eimskip

Information regarding Q4 2020 results and EBITDA guidance for the year 2021

According to management accounts for October and November, available today, along with an estimate for December, EBITDA will be in the range of EUR 14 to 15.5 million compared to EUR 11.2 million in same quarter last year. According to the expected Q4 results EBITDA for the full year 2020 will be in the range of EUR 60.7 to 62.2 million, compared to EUR 60.5 million in the year 2019. The Company would like to inform the market of this since an EBITDA guidance for 2020 has not previously been restated.

The Company would like to point out that the operating results for December are not yet available but historically the results for that month are volatile. The results are subject to changes until work on financial closing and audit of the year 2020 is completed.

EBITDA Guidance 2021

At a meeting of the Board of Directors today next years budget was approved and subsequently the Company has decided to issue an EBITDA guidance for the year 2021 in the range of EUR 68 to 77 million.

The EBITDA guidance is dependent on number of risk and uncertainty factors which may cause the actual performance in the future to be significantly different from what is stated in the guidance. Special note is made to the fact that the impact of the COVID-19 pandemic on global economies remains uncertain for coming months. Furthermore the effect of BREXIT on transportation is uncertain.

For further information please contact Edda Rut Björnsdóttir, Executive Vice President of Human Resources & Communications via phone [phone] or [e-mail]