Domstein: IMPROVED OPERATIONS IN Q1

May 24, 2010 12:33

Group operating income in the first quarter of 2010 was MNOK 142.8 compared to MNOK 122.1 last year. EBITDA was MNOK 4.8 compared to MNOK -0.9 last year. EBIT was MNOK 1.4 compared with MNOK -4.6 , and total result for the period MNOK 0.3 compared to MNOK -2.1 last year, reports www.megafishnet.com with reference to Domstein.

The Group's balance sheet as of 31 March amounted to MNOK 642.2 compared to MNOK 663.0 last year. Book equity was MNOK 215.8 , representing an equity ratio of 33.6%. Net interest bearing debt was MNOK 336.0

Net cash flow from operating activities was MNOK 4.2.

There has been strong growth and profit development in the Group's core business. Income from associated companies, however, was significantly lower than last year. In connection with the conducted emission and conversion of debt to shareholders of Naustvik Enghav, the consolidated result was impacted by a dilution cost of MNOK 6.8.

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