Fjarskipti reports 29% increase in profits in 2014

19 Feb 2015

Icelandic cellco Vodafone (Fjarskipti) has published its financial results for the twelve months ended 31 December 2014, reporting revenues of ISK13.236 billion (USD100.77 million), flat against the ISK13.176 billion generated in the corresponding period of 2013. EBITDA, meanwhile, increased by 3% from ISK2.996 billion to ISK3.092 billion in 2014, while profit reached ISK1.094 billion in the period under review, a 29% improvement y-o-y on the ISK847 million reported at end-December 2013.

Fjarskipti’s CEO Stefan Sigurdsson commented: ‘It is gratifying to close 2014 with good results, with profits for the first time of well over a billion Icelandic kroner … Several significant developments occurred in the year, not least in the field of mobile and television broadcasting. Expanding 3G and 4G high-speed coverage of the company continued in earnest throughout the country. The transition to a fully digital system for TV broadcasting was on schedule and almost completed by the end of the year, with the RUV [The Icelandic National Broadcasting Service] now covering 99.9% of the population. A large number of important steps have been taken in the field of innovation of services and product offerings, such as the introduction of RED products and machine-to-machine (M2M) solutions for businesses.’

Iceland, Vodafone Iceland (Syn)