365 hf. has turnaround in operating results

EBITDA for the year 2007 amounted to ISK 1,162 million but was negative in 2006 by ISK 12 million for regular operations. Sales for the year 2007 amounted to ISK 12,381 million, an increase of 12% between years.

A turnaround of ISK 1.364 million between years when comparing the profit/loss before taxes of continuing operations.

Net loss of ISK 2.283 million including the write down of the shares in Wyndeham Press Group amounting to ISK 2.095 million.

The main operational entities of 365 hf. are 365 media ehf., Sena ehf. and EFG ehf.

Main results for year:
Sales during the year amounted to ISK 12,381 million and increased by ISK 1,283 million or 11.6% from the year 2006

Pro forma sales increased by 10.5% from the previous year

Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to ISK 1,162 million but was negative by ISK 12 million for the year 2006 for regular operations

EBITDA ratio was 9.4% but was calculated at 0% for regular operations in the previous year

Net finance cost amounted to ISK 646 million, including a foreign exchange gain to the amount of ISK 184 million

Net loss after taxes amounted to ISK 2,283 million

Equity amounted to ISK 4,545 million and the equity ratio was 31%

Current ratio was 0.87, whereas last year it was 0.62

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Teymi profits hit 1354 million for 2007

Teymi profits in the year 2007 amounted to ISK 1,354 million. Inner growth of the company amounted to 15,4% compared to the year 2006 (pro-forma) and revenues to about ISK 21,5 billion. EBITDA amounted to ISK 4,009 million. Teymi has a current ratio of 1,25 and the equity ratio is 22,1%. Cash generated by operations amounted to ISK 3,258 million in 2007.


ISK 1,354 million profit after tax in 2007
Revenues amount to ISK 21,5 billion constituting an inner growth of 15,4% from
the previous year (pro-forma)
EBITDA amounted to ISK 4,009 million
Recorded losses due to Hands Holding ISK 1,1 billion
Net foreign exchange difference related to long term liabilities positive in
the amount of ISK 930 million
Cash generated by operations ISK 3,258 million
Current ratio 1,25 at the end of 2007
Equity ratio 22% at the end of 2007

Árni Pétur Jónsson, CEO:
“We are pleased with these results and the earnings are in line with our
expectations at the beginning of the year. Our companies are gaining momentum,
they show considerable growth and are presenting very good results. Teymi’s
inner growth exceeds the previous year by over 15% which shows that our
companies are increasing their market share. Most of our subsidiaries are
presenting their best results so far and our cash flow is strong.

We are very optimistic at the beginning of this year and the prospects for our
operations are good despite the unstable environment of the economy. In the
electronic communications segment some important agreements have been concluded
and the IT segment has a good standing considering current and future
projects. These factors will sustain further growth of the group and increased

Teymi profit

Former TopShop brand director completes Whistles management buy-in

Jane Shepherdson, the former Topshop brand director, has concluded a deal with Baugur to purchase Whistles from Mosaic Fashions with immediate effect.

Ms Shepherdson, who becomes CEO, will be joined by Keith Wilks as finance director, and Jo Farrelly as marketing director, to take over the running of the Whistles business through a management buy-in. Both Keith and Jo worked with Jane at Topshop.

As a result, Whistles is to be separated from Mosaic Fashions through an acquisition by a newly formed company, in which Shepherdson and her team have part ownership. Baugur is the lead shareholder and Glitnir Bank is also an investor.

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