Telecomunicazioni
Sýn hf.: Record operating profit
Sýn hf.'s Condensed Consolidated Interim Financial Statement for the first half of 2022 was approved by the board of directors on August 30 2022.
Heiðar Guðjónsson CEO:
„Operating profit rises by 740 million and the operating profit is the highest in history. We manage to hold down costs while revenues increase by 14%. I am confident we will increase revenues further while costs will rise much slower and we are well on our way to reach recurring 100 million monthly profitability.
We have invested heavily in our IT systems in the last three years and that is by far our largest investment during that period. We see returns coming with strengthened product offering which will increase revenue and market share. Our foundation is therefore very strong.
We signed an agreement on the build-out of a 5G network with Nova in June which secures the largest countrywide network in Iceland. It also cements our dominant position in IoT where we have over 1 million connections and is promising for the revenue growth in the mobile part of the business.
In media we are showing a considerable increase in subscriptions and advertising revenues. All parts of our media business are growing and profitable.
This is my last earnings announcement and I am extremely proud of our achievements during my time as CEO. We changed the strategy, transformed our IT architechture, turned the business around, refinanced it completely and all this was achieved during a global pandemic. The future is certainly bright at Sýn hf.“
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