2024 Financial Summary for Íslandshótela hf. Revealed
Overview of Íslandshótela hf. Financial Performance for 2024
Ársreikningur Íslandshótela hf. fyrir árið 2024
Íslandshótela hf. has recently published its financial statement for 2024, following a board meeting that took place. As part of the financial disclosures, several key financial indicators have been outlined that compare 2024 with the previous year.
Some highlighted figures from 2024 include:
Key Financial Metrics
Revenues for 2024 amounted to 16.669 billion krónur, a slight decrease from 16.784 billion krónur in 2023. The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the year reached 4.415,8 billion krónur, down from the previous 4.956,4 billion krónur.
The net profit after taxes was recorded at 104,8 million krónur, significantly lower than 498 million krónur in 2023. Despite this drop in profit, total assets reached 65.430,3 billion krónur, showcasing growth from 62.839,2 billion krónur in 2023.
By year-end, the company's recorded equity stood at 25.746 billion krónur, compared to 22.782,4 billion krónur the previous year. The equity ratio also saw an increase to 39,3%, up from 36,3% in the previous year.
Workforce and Asset Valuation
Throughout 2024, the company employed an average of 647 staff based on full-year equivalents. Additionally, the recorded asset value saw an increase due to a revaluation of real estate conducted by independent experts. This increased the asset valuation by 3.573,5 billion krónur.
Commitment to Sustainability
Íslandshótela hf. continues to be a leader in the hospitality and tourism sector, actively seeking growth opportunities while prioritizing sustainability. All of the company’s hotels have attained Green Key certification, reflecting their commitment to environmentally friendly practices. The company has also signed the Glasgow Declaration on Climate Action in Tourism, demonstrating its dedication to environmental initiatives. In recognition of its efforts, Íslandshótela hf. received the Terra Environmental Award 2024 for excellence in recycling and waste management initiatives.
Future Outlook and Recommendations
Despite facing challenges in the external environment over the past year, the operational foundation of Íslandshótela hf. has been strengthened. Investments in sustainable practices and emerging opportunities are a part of the company’s strategic direction. The board has proposed not to distribute dividends for 2024, opting instead to carry the year’s earnings over to the next fiscal year.
Davíð Torfi Ólafsson, CEO of Íslandshótela hf., indicated, "The challenges of the external environment impacted operations last year; nevertheless, the overall performance remained strong. The company is well-positioned to continue its growth trajectory and meet the ongoing demand for services while supporting the tourism sector's expansion in the years ahead."
Frequently Asked Questions
What are the main financial highlights from Íslandshótela hf. for 2024?
The company reported revenues of 16.669 billion krónur, with a net profit of 104,8 million krónur after taxes.
How many employees worked at Íslandshótela hf. in 2024?
On average, 647 employees were working for the company based on full-year equivalents.
What sustainability initiatives has Íslandshótela hf. pursued?
All hotels have received Green Key certification, and the company signed the Glasgow Declaration on Climate Action in Tourism.
What is the proposed action regarding dividends for 2024?
The board has recommended that no dividends be paid for 2024, opting to carry the earnings over to the following year.
How has the company's asset valuation changed in 2024?
The asset valuation increased by 3.573,5 billion krónur due to a real estate revaluation performed by independent experts.
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