Nova Klúbburinn (NOVA) Q4 2023 earnings summary

Executive summary

• FY2023 revenue was ISK 12,993m, EBITDA ISK 3,979m and net income ISK 728.8m, all above FY2022; year-end equity was ISK 9,277m.

• Operating cash flow increased to ISK 3,015m from ISK 1,723m; year-end cash was ISK 497m.

Financial highlights

• Revenue rose to ISK 12,993m from ISK 12,641m; sales were ISK 12,838m and other operating revenue ISK 155m.

• EBITDA increased to ISK 3,979m from ISK 3,636m; operating profit was ISK 1,826m versus ISK 1,615m.

• Net income reached ISK 728.8m versus ISK 539.3m; basic and diluted EPS were ISK 0.19 versus ISK 0.15.

• Capital expenditure was ISK 2,056m, comprising ISK 1,566m in property and equipment and ISK 490m in intangible assets.

Segment performance

• FlakkNet revenue was ISK 6,177m versus ISK 5,840m; FastNet was ISK 3,557m versus ISK 3,270m.

• Product sales were ISK 1,985m versus ISK 2,220m; other sales revenue was ISK 1,118m versus ISK 1,112m.

• No single customer accounted for more than 10% of revenue.