April 29, 2020 / 7:15 AM / a month ago

BRIEF-Siminn Q1 EBITDA Rises To ISK 2.74 Billion

April 29(Reuters) - Siminn hf:

* REPORTED ON TUESDAY Q1 REVENUE OF ISK 7.25 BILLION VERSUS ISK 6.96 BILLION YEAR AGO

* Q1 EBITDA ISK 2.74 billion VERSUS ISK 2.37 BILLION YEAR AGO

* “CUSTOMERS TOOK ADVANTAGE OF OUR TV AND DATA SERVICES TO AN EXTENT WE HAVE NOT SEEN BEFORE”

* “BY THE END OF THE QUARTER, THE CAPACITY AND LOAD FACTOR ON THE COMPANY’S TELEVISION AND NETWORK SYSTEMS WAS AT THE HIGHEST LEVELS WE HAVE SEEN SO FAR”

* REVENUES FROM FOREIGN TOURISTS ALMOST EVAPORATED IN A FEW WEEKS, AS WELL AS WE CLOSED THE COMPANY’S STORES DUE TO QUARANTINE OF WORKERS.

* ROAMING REVENUE IS ALMOST NOT EXISTENT AT THE MOMENT.

* THE COMPANY IS BELOW LONG-TERM LEVERAGE RATIO AND HAS THEREFORE EXERCISED AN OPTION TO POSTPONE PAYMENTS OF LOANS IN 2020 UNTIL FINAL MATURITY.

Source text for Eikon:

Further company coverage: (Gdansk Newsroom)

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