Sýn hf.: Strong Internal Revenue Growth

Sýn hf.'s Consolidated Interim Financial Statement for the Q1 2022 was approved by the board on May 11 th, 2022.Main results:Revenue for the first quarter (Q1) of 2022 amounted to ISK 5,682 million, an increase of ISK 682 million compared to the same period in 2021.EBITDA for Q1 2022 amounted to ISK 1,710 million, compared to ISK 1,388 million Q1 2021. The EBITDA margin was 30.1% in Q1 2022 compared to 27.8% in Q1 2021. Operating cost increases less than inflation due to cost...

Reykjavík, 11/05/2022 (informazione.it - comunicati stampa - telecomunicazioni)

Sýn hf.'s Consolidated Interim Financial Statement for the Q1 2022 was approved by the board on May 11 , 2022.

Main results:

Heiðar Guðjónsson, CEO:

"We are proud to present 14% internal revenue growth year on year. Operating cost increases less than inflation resulting in an ISK 359 million increase in EBIT. We return a profit of over ISK 200 million from regular operations in the first 3 months of the year.

Due to seasonal fluctuations in the Company's operations, profit usually increases as the year progresses. On top of that, growth is expected due to improved services, new product ranges, and the development of 5G and related technologies. Therefore, we are well on our way to achieving a profit from regular operations of up to ISK 100 million per month on average over the year. Free cash flow is also very strong and increases by ISK 603 million during the period.

Several parts of the business that were affected by COVID are now getting back to normal as the year progresses. We can see an increase in Endor's revenue, an increase in roaming, and advertising sales are on the rise.

Concerning media operations, advertisements are sold out on Vísir for the first time during the first quarter of a year. Radio operations are doing well and there is also growth around our television operations, despite negative trends being evident abroad due to reduced COVID restrictions.

We returned around ISK 2 billion to shareholders in the first quarter of the year through share buyback and we aim to continue doing so this year.

Following the changes in the law on publication of financial results for listed companies we will not have a presentation meeting this quarter. We will give detailed presentations on the half-year and annual results. As before, questions can be sent to us or meetings can be requested."

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