Sláturfélags Suðurlands (SFS) H1 2024 earnings summary

Executive summary

• Revenue for H1 2024 reached ISK 9,262 million, up from ISK 9,001 million year-over-year.

• Net profit for the period was ISK 613 million, compared to ISK 532 million in H1 2023.

• The group operates in slaughtering, food processing, and import of food and agricultural products.

• Two subsidiaries: Reykjagarður hf. (poultry) and Hollt og gott ehf. (salads/vegetables).

Financial highlights

• Operating profit for H1 2024 was ISK 828 million, up from ISK 804 million in H1 2023.

• Earnings per share increased to 1.04 from 0.95 year-over-year.

• Total assets at June 30, 2024, were ISK 14,292 million, up from ISK 13,771 million at year-end 2023.

• Equity increased to ISK 7,935 million from ISK 7,363 million at year-end 2023.

• Cash at period end was ISK 1,918 million, up from ISK 1,843 million at year-end 2023.

Outlook and guidance

• The company aims to remain a leading national food wholesaler and distributor.