News

Samherji Ltd. was run profitable by 1.675 million ISK in the first nine months of 2004 but profit at the same time in the year 2003 was 622 million ISK.

The board of Samherji Ltd. has agreed to take part in an issue of new shares in the German company FAB GmbH for up to EUR 4.000.000.-  The issue of new shares in FAB is to finance a purchase of 58% share in the German seafood company Pickenpack-Hussman & Hahn Seafood GmbH from Orlando.  FAB already owned 40% shares in Pickenpack- Hussmann & Hahn.  KB bank finances the purchase.

A board meeting today in Samherji Ltd. endorsed an agreement to buy a 65% share in the German fishery CR Cuxhaven Reederei GmbH. in which Samherji already owns a 35% share. The board also endorsed a purchase by the daughter company Onward Fishing Company Ltd. of a 50% share in Boyd Line Ltd in Hull.  The quota allowances of the four companies in the European Union, Samherji owns shares in, sum up to 80% of Samherji´s fishing permits in Icelandic waters.

Samherji Ltd. was run profitable by 1.098 million ISK in the first six months of 2004 but profit in the first quarter was 459.820. 

Samherji hf. has finalized an agreement to buy the freezer trawler Akraberg from Framherji Spf. in the Faero Islands, of which Samherji owns 30 % share. The agreement allowes the ship to be returned within 3ja months from the date of signature.  The crew counts 28 men and the Captain is Eydunn á Bergi, who has been Captain on the ship for many years.  Akraberg left today for Ocean Perch fishing.

Samherji hf. has made an agreement to sell the 49,66% share in Hraðfrystistöð Þórshafnar.  The buyers are Fræ ehf., a company owned by Þórshafnarhreppur with 34% share at nominal value ISK 167.571.418.- and Svalbarðshreppur with 15,46% share nominal value ISK  75.753.907.-  Estimated profit from the transaction is just over 300 million ISK.

Mr.Adalsteinn Helgason, Manager of onshore operations in Samherji, has decided to leave the company in the latter part of this year. Mr. Helgason has worked for Samherji and associated companies from the year 1992 or twelve years in total. Mr. Helgason will, this summer and into the autumn, work on various projects in Samherjis operations abroad.

T-Quality, a company that specializes in servicing fast food resturants,  is one of Seagolds largest customers.  T-Quality has in the last years hosted exhibitions for customers and others interested in the products.  Seagold Ltd, Samherji´s marketing company in Great Britain, participated in the exhibiton this year like the previous years.

Samherji hf. and Vísir hf. have entered into collaboration in fishing, processing, shipping, development and sales of seafood products. The retail market has been undergoing some condensation in recent times.  The management of the two companies believe that this cooperation will become more important in order to meet the intensifying demand, for diversification, punctual delivery, service and purveyance development, by the retail market.  In order to reach these goals collaboration is necessary but merger is however not necessary.  The two companies hope that this collaboration will strengthen them in the future.

Samherji Ltd. was run profitable by 638 million ISK in the first quarter of 2004 Profit before depreciation and financial expenses (EBITDA) was 692 million ISK, 19,8% of the revenue.