Sláturfélags Suðurlands (SFS) H2 2024 earnings summary

Executive summary

• Consolidated revenue for 2024 was ISK 17,747.8 million, up 3.5% year-over-year, driven by improved conditions in the restaurant and retail market, despite a decline in lamb exports and lower fertilizer prices.

• Net profit increased to ISK 871.8 million from ISK 791.7 million in 2023, reflecting enhanced overall performance.

• The group operates in slaughtering, food processing, and import of food, fertilizer, and feed, with subsidiaries in poultry and vegetable production.

Financial highlights

• Operating profit for 2024 was ISK 1,135.1 million, down from ISK 1,214.6 million in 2023.

• EBITDA (operating profit plus depreciation) was ISK 1,684.7 million in 2024.

• Earnings per share rose to ISK 1.47 from ISK 1.41 year-over-year.

• Total assets at year-end were ISK 13,870.1 million, with equity of ISK 8,226.8 million (equity ratio 59.3%).

• Cash flow from operations was ISK 1,186.3 million, with cash at year-end at ISK 1,445.7 million.

Outlook and guidance

• Management expects business scope to remain stable in coming years, with ongoing initiatives to ensure long-term profitability.