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Key figures From operations 2019

Passenger movement through the airports of Isavia overall were 7.9m in 2019, a decrease of 25% from 2018. The number of international passengers using Icelandic scheduled-flight airports decreased from just under 9.8 million to just under 7.3 million, i.e. a decrease of some 26% year-on-year. The number of domestic passengers fell over the same period, from just under 737,000 to just over 650,000, i.e. a decrease of some 11%.


The operating revenues of the Group amounted to almost ISK 38.4bn and decreased by ISK 3.3bn between years, or by around 8%. EBITDA, i.e. earnings before depreciation, financial items and taxes, decreased by almost ISK 4.5bn, or 40%. The total assets amounted to ISK 80.6bn at year-end 2019, an increase of ISK 0.8bn between years. The position of cash and cash equivalents continued to be strong by the end of the year, as did the company’s access to borrowed funds for continued development. Isavia’s tax footprint for 2019 was ISK 9,021m. This is the proportion that the Group pays or collects in the form of taxes and public levies, together with matching contributions to employee pension funds.

Revenue
m.kr. m.kr.
-7,9%
Overall result
m.kr. m.kr.
-71,8%
Equity
m.kr. m.kr.
3,4%
Investment activities
m.kr. m.kr.
-35,7%
Return of equity
% %
-9,5%
Equity ratio
% %
2,36%
Average number of positions
-5,1%
Tax footprint
m.kr. m.kr.
From the profit and loss account (million kr.)20192018
Revenue38.45441.788
EBITDA6.77511.298
EBIT2.9067.837
Financial income/expenses-1.410-2.540
Profit before taxes1.4965.297
Operating profits
1.199
4.262

 

From the balance sheet (million kr.)20192018
Property, plant and equipment57.55057.196
Assets80.64379.834
Equity36.46635.267
Interest-bearing liabilities36.22136.761
Current ratio1,941,99

 

From the statement of cash flows (million kr.)20192018
Operating activities9.0327.150
Investment activities-3.895-6.064
Financing activities-1.3831.309
Cash and cash equivalents at the end of period9.1675.436

 

Financial ratios20192018
Contribution margin17,6%27,0%
Profit margin3,1%10,2%
Rate of return on assets0,480,55
Return of equity3,34%12,9%
Earnings per ISK of share capital0,210,76
Equity ratio45,22%44,2%
Average number of positions13571430

Total income

2019 (%)

Income from airport services 36%
Income from property and parking 11%
Goods sold 34%
Income from International air navigation services 16%
Other income 3%

2018 (%)

2018
Income from airport services 39 %
Income from property and parking 12%
Goods sold 32%
Income from international air navigation services 14%
Other income 3%

Income from airport services

2019 (%)

Service agreement with Ministry of Transport 14%
Landing charges 23%
Airport security fees 24%
Passenger fees 34%
Other costs 5%

2018 (%)

Service agreement with Ministry of Transport 11%
Landing charges 23%
Airport security fees 23%
Passenger fees 38%
Other costs 5%

Operating expenses

2019 (%)

Costs of goods sold 18%
Salaries and other personal expenses 51%
Administrative expenses 2%
Other operating expenses 19%
Depreciation 11%

2018 (%)

Costs of goods sold 19%
Salaries and other personal expenses 54%
Administrative expenses 2%
Other operating expenses 15%
Depreciation 10%