Hacer Negocios Con El EFTA

Total Page:16

File Type:pdf, Size:1020Kb

Hacer Negocios Con El EFTA Acceso al mercado Informe de mercado – Hacer negocios con el EFTA 1 Informe de mercado – Hacer negocios con el EFTA Hacer negocios con el EFTA La Asociación Europea de Libre Cambio (AELC) o Acuerdo Europeo de Libre Comercio (también conocida por sus siglas en inglés EFTA, European Free Trade Association) es un bloque comercial creado el 4 de enero de 1960 por la Convención de Estocolmo como alternativa a la Comunidad Económica Europea (1957). Inicialmente estuvo integrada por Austria, Dinamarca, Reino Unido, Noruega, Portugal, Suecia y Suiza. Entró en vigor en junio de 1960. En 1961 entró Finlandia, en 1970 Islandia y en 1991 Liechtenstein. Su objetivo consiste en lograr la expansión económica y la estabilidad financiera de todos sus miembros. Tras el abandono de la AELC y entrada en la CEE del Reino Unido y Dinamarca en 1973, Portugal en 1986, Austria, Suecia y Finlandia en 1995, el papel de la AELC ha disminuido notablemente. Actualmente sus miembros son Liechtenstein, Suiza, Noruega e Islandia. 2 Informe de mercado – Hacer negocios con el EFTA El mercado del EFTA En total, estos países tienen 12 millones de consumidores y el encanto de este grupo comercial está en el alto poder adquisitivo que tienen sus consumidores. PBI NOMINAL PBI PER CÁPITA2 POBLACIÓN3 (MILLONES DE USD)1 NORUEGA USD 427.041 USD 75.065 5.381.000 SUIZA USD 707.570 USD 63.379 8.647.000 ISLANDIA USD 24.544 USD 54.121 367.000 LIECHSTENSTEIN USD 6.289 USD 165.028 39.000 USD 1.165.444 USD 89.398 14.434.000 promedio Sectores productivos Agricultura y alimentación La proporción del producto nacional bruto que la agricultura ocupa en las economías de la EFTA ha disminuido a medida que éstas han alcanzado su alto nivel de desarrollo. Sin embargo, los gobiernos de Noruega, Suiza e Islandia se caracterizan por tener los más altos niveles de apoyo y protección a la agricultura 1 Datos del FMI 2019 2 Datos del FMI 2018 3 Datos de CIA Factbook 2020 3 Informe de mercado – Hacer negocios con el EFTA dentro de los países desarrollados, los cuales justifican por el aporte que ésta hace a la protección del paisaje, la seguridad alimentaria, el turismo y la generación de puestos de trabajo estables en todas las regiones. La relativa debilidad de la agricultura primaria en la EFTA contrasta con la fortaleza del sector de alimentos procesados: la empresa multinacional Nestlé, cuya sede principal se encuentra en la ciudad suiza de Vevey, es el líder global de la industria agroalimentaria. Los países de la EFTA, por otra parte, han fomentado el desarrollo de la agricultura orgánica, y mantienen controles estrictos respecto del uso de abonos y pesticidas. El mercado suizo de frutas y hortalizas orgánicas ha cobrado un gran dinamismo, con una demanda promovida principalmente por las cadenas de supermercados. Los países en desarrollo pueden acceder a este mercado sujeto a ciertas normativas sobre equivalencia, y a restricciones al transporte aéreo que hacen particularmente atractivo el ingreso de productos como las frutas secas y las nueces. Liechtenstein La economía de Liechtenstein, a pesar del pequeño tamaño y la escasez de recursos naturales del país, está altamente industrializada, orientada hacia la libre empresa y posee la tercera renta per cápita más alta del mundo, después de Catar y Luxemburgo. La economía del país está altamente diversificada, con un gran número de pequeñas empresas. 4 Informe de mercado – Hacer negocios con el EFTA Se concentra predominantemente en el sector secundario (industria), que representa alrededor del 40 % del PIB, y en el terciario (servicios), con alrededor del 55 %. Los servicios financieros suponen alrededor del 24 % del PIB, cerca de la mitad del sector terciario, mientras que el sector primario (agricultura) representa aproximadamente el 8 %. Listado de empresas en este país: Name Industry Headquarters Notes Hilcona Consumer Schaan Convenience food goods Hilti Consumer Schaan Power tools goods Ivoclar Vivadent Health care Schaan Dental technology Jehle Consumer Schaan Sports cars goods LGT Group Financials Vaduz Fully owned by the private foundation of the prince Liechtenstein Bus Industrials Schaan Bus company Liechtensteinische Post Industrials Schaan Postal service Medixsysteme Health care Ruggell Aesthetic medicine National Bank of Financials Vaduz Majority of all shares are Liechtenstein state-owned Neutrik Industrials Schaan Connectors NTi Audio Industrials Schaan Acoustic test instruments Oerlikon Balzers Industrials Balzers Surface technologies Orca Engineering Consumer Schaan Sports cars goods VP Bank Financials Vaduz Important activity in investment funds Noruega En el caso de Noruega, uno de sus principales motores económicos ha sido tradicionalmente la exportación. El país es rico en recursos naturales y entre sus principales actividades destacan la exploración y producción de petróleo y gas, la pesca y la construcción de presas para el aprovechamiento del potencial hidroeléctrico. La climatología del país es determinante para la agricultura. Existen algo más de 10 000 km² cultivables sobre una superficie de 385 156 km². Esta situación, en una tierra que no ofrece suelo suficiente, ha sido siempre un problema al que enfrentarse. Actualmente la industria petrolera es fundamental en la economía noruega, con crecimientos sostenidos en las décadas de 1980 y 1990 del 80 % del PIB. En el 5 Informe de mercado – Hacer negocios con el EFTA año 2000 Noruega alcanzó el segundo lugar del mundo en exportaciones petrolíferas. El resto de la actividad industrial, además de la asociada al tratamiento de productos petrolíferos, se sigue basando en la explotación y tratamiento de los recursos naturales tales como la madera, la energía hidráulica y la pesca. En la industria tradicional se encuentra la metalurgia que, aunque ha perdido peso en el conjunto de la economía en el siglo XXI, sigue siendo una actividad exportadora significativa. Destacan igualmente la construcción de plataformas petrolíferas y productos electrónicos. Localización de las industrias en Noruega Islandia La economía de Islandia es pequeña —la más pequeña de la OCDE— y de gran 6 Informe de mercado – Hacer negocios con el EFTA volatilidad. Islandia tiene una economía mixta, con altos niveles de librecambismo e intervencionismo, aunque este último es más bajo que en otros países nórdicos. La energía geotérmica es la principal fuente de energía doméstica e industrial del país. Islandia es el primer país del mundo en producción de energía eléctrica per cápita con 53 MWh, duplicando a Noruega, que se encuentra en segundo lugar con 26 MWh. En 2014, toda la energía eléctrica anual fue producida mediante energía hidroeléctrica (71 %) y energía geotérmica (29 %), por lo que el país es completamente autosuficiente y renovable. La abundancia de electricidad ha facilitado el crecimiento del sector de la fabricación. La fundición del aluminio —el proceso de extraer el aluminio de su mineral, la alúmina, generalmente mediante el proceso Hall-Héroult— es la industria más importante dentro del sector del uso intensivo de la energía. Existen tres fábricas en el país, con una capacidad total de 840 000 toneladas al año y una producción real de 810 000, situando a Islandia en el puesto número 11 del mundo. La pesca y sus sectores relacionados son la parte más importante de la economía islandesa y suponen aproximadamente un 45 % del volumen de exportaciones y alrededor de un 25 % de los ingresos por exportaciones. Aunque esta cifra ha ido descendiendo, su contribución al PIB se ha mantenido más o menos constante desde entonces, con alrededor de un 10 % sobre el total. Listado de empresas islandesas: Name Industry Headquarters Notes 365 Consumer services Reykjavík Broadcaster Advania Technology Reykjavík Information technology Air Iceland Consumer services Reykjavík Airline Arctic Trucks Industrials Reykjavík Exploration and commercial vehicles ÁTVR Consumer services Reykjavík Alcohol/tobacco state monopoly Bónus Consumer services Reykjavík No-frills supermarket Carbon Recycling Oil & gas Reykjavík Renewable methanol International (CRI) CCP Games Technology Reykjavík Video game developer Dagsbrún Conglomerates Reykjavík Telecommunications, media, security deCODE genetics Health care Reykjavík Gene research Egill Skallagrímsson Consumer goods Reykjavík Brewery Brewery Eimskipafélag Íslands Industrials Reykjavík Nasdaq Iceland: HFEIM, The Icelandic Steamship Company FRISK Software Technology Reykjavík Antivirus software International Hagar Consumer goods Reykjavík Food holding, includes Hagkaup and Bónus 7 Informe de mercado – Hacer negocios con el EFTA Hagkaup Consumer services Reykjavík Hypermarket chain HB Grandi Consumer goods Reykjavík Fishing Icelandair Consumer services Reykjavík Airline Icelandair Group Consumer services Reykjavík Travel and tourism group Íslandsbanki Financials Reykjavík State-owned bank Íslandspóstur Industrials Reykjavík Postal services/shipping Landsbanki Financials Reykjavík Defunct 2008 Landsbankinn Financials Reykjavík State-owned bank Mannvit Engineering Industrials Reykjavík Engineering and consulting Marel Industrials Garðabær Nasdaq Iceland: MARL Marorka Technology Reykjavík Energy management software and research MP Bank Financials Reykjavík Investment/commercial bank Nói Síríus Consumer goods Reykjavík Chocolates Nyherji Technology Reykjavík Computer services, software consulting Ossur Health care Reykjavík Nasdaq Iceland: OSSR Promens Industrials Kópavogur Packaging, plastics RÚV Consumer services Reykjavík The Icelandic National Broadcasting Service
Recommended publications
  • 1 PASSENGER OPERATIONS SEVERELY IMPACTED by COVID-19 EBIT Negative by USD 105.1 Million in Q2 2020, Down by USD 81.0 Millio
    27 July 2020 | Icelandair Group Interim Report PASSENGER OPERATIONS SEVERELY IMPACTED BY COVID-19 ▪ EBIT negative by USD 105.1 million in Q2 2020, down by USD 81.0 million ▪ Net loss of USD 90.8 million in Q2 ▪ COVID-19-related one-off cost amounted to USD 43.8 million in Q2 and USD 224.8 million in the first 6 months of the year ▪ Equity amounted to USD 118.4 million at the end of June 2020. Equity ratio was 11% ▪ Cash and cash equivalent amounted to USD 153.6 million at the end of June 2020 ▪ Icelandair’s available seat kilometers (ASK) decreased by 97% between years and the number of passengers by 98% ▪ Cargo flight hours doubled from last year BOGI NILS BOGASON, PRESIDENT & CEO “The second quarter was severely impacted by the COVID-19 pandemic. We only operated three per cent of our planned passenger flight schedule but focused on keeping vital air routes open to Europe and North America. Revenue, which decreased by 85% between years, was driven by our cargo and aircraft leasing operations where our employees across the Group showed remarkable resourcefulness and flexibility to seize opportunities during this challenging time. In the second quarter, cargo flight hours doubled from last year. We had to take difficult but necessary measures in the quarter to reduce cost and prevent cash outflow. This included significant reduction in our workforce and changes to our organisational structure. The work on the financial restructuring of the Company is progressing and we aim to have reached agreements with all our key stakeholders by the end of July, followed by a share offering in August.
    [Show full text]
  • Financial Statements
    Icelandair Group hf. Condensed Consolidated Interim Financial Statements 1 January – 30 September 2020 Icelandair Group hf. I Reykjavíkurflugvöllur I 102 Reykjavík Iceland I Reg. no. 631205-1780 Contents Endorsement and Statement by the Board of Directors and the CEO ................................................................ 3 Consolidated Statement of Comprehensive Income ........................................................................................... 5 Consolidated Statement of Financial Position .................................................................................................... 6 Consolidated Statement of Changes in Equity ................................................................................................... 7 Consolidated Statement of Cash Flows .............................................................................................................. 8 Notes to the Consolidated Financial Statements ................................................................................................ 9 1. Reporting entity ................................................................................................................................. 9 2. Basis of accounting ........................................................................................................................... 9 3. Use of judgements and estimates .................................................................................................... 9 4. Changes in accounting policies .......................................................................................................
    [Show full text]
  • EFTA Surveillance Authority Competition and State Aid Directorate Rue Belliard 35 1040 Brussels Belgium
    EFTA Surveillance Authority Competition and State Aid Directorate Rue Belliard 35 1040 Brussels Belgium Reykjavík September 25, 2020 Reference: FJR20030062/5.1 Your reference: 85190 Subject: Comments on a letter received by ESA regarding Decision No 101/20/COL Introduction Reference is made to an invitation from the EFTA Surveillance Authority (the Authority; ESA), dated 16 September 2020, to comment on a letter received by ESA calling for a revocation of Decision No 101/20/COL on compensation to Icelandair for the damage caused by the COVID-19 outbreak. The letter received by the Authority argues that the decision was based on “incorrect or incomplete information”. The Icelandic authorities take the opportunity to underline the compliance of the decision, and the notification on which was it was based, with the EEA rules on State aid. 1. Basis for the Authority’s letter According to Article 9 of Part II of Protocol 3 to the Surveillance and Court Agreement (SCA), the Authority can decide to initiate a formal investigation procedure if it encounters documents or observations that give rise to doubts as to the “well-founded and sound nature”1 of information which constituted a determining factor for the decision. That procedure can lead to revocation of the decision if it turns out that it was indeed based on incorrect information. The Icelandic authorities note that the undertaking that has requested ESA to contemplate revocation of the decision, Fly Play ehf., does not have standing to bring the decision before the EFTA Court. The undertaking neither holds an Icelandic Air Operator Certificate (AOC)2, nor has it taken delivery of any airplanes.
    [Show full text]
  • Icelandair Group Hf
    Icelandair Group hf. Consolidated Financial Statements for the year 2019 Icelandair Group hf. I Reykjavíkurflugvöllur I 101 Reykjavík Iceland I Reg. no. 631205-1780 Contents Endorsement and Statement by the Board of Directors and the CEO ................................................................... 3 Independent Auditors' Report ................................................................................................................................. 6 Consolidated Income Statement and other Comprehensive Income ..................................................................... 10 Consolidated Statement of Financial Position ........................................................................................................ 11 Consolidated Statement of Changes in Equity ...................................................................................................... 12 Consolidated Statement of Cash Flows ................................................................................................................. 13 Notes to the Consolidated Financial Statements .................................................................................................... 14 Note Page Note Page 1. Reporting entity ........................................ 14 22. Non-current receivables and deposits ....... 32 2. Basis of accounting .................................. 14 23. Income taxes ............................................. 32 3. Functional and presentation currency ...... 14 24. Inventories ................................................
    [Show full text]
  • Effects of Content on Facebook Post Popularity: the Case of Icelandair
    Master of Science in International Business Effects of Content on Facebook Post Popularity: The Case of Icelandair Herborg Sørensen Supervisors: Dr. Valdimar Sigurðsson and Vishnu Menon June 2015 A master’s thesis submitted to the Reykjavík University School of Business in partial fulfillment of the requirements of the degree of Master of Science INTERNATIONAL BUSINESS EFFECTS OF CONTENT ON FACEBOOK POST POPULARITY: THE CASE OF ICELANDAIR Author: Herborg Sørensen June 2015 Supervisors: Dr. Valdimar Sigurðsson Vishnu Menon Reykjavík June 2015 1 Declaration of Research Work Integrity This work has not previously been accepted in substance for any degree and is not concurrently submitted in candidature of any degree. This thesis is the result of my own investigations, except where otherwise stated. Other sources are acknowledged with explicit references. A bibliography is appended. By signing the present document I confirm and agree that I have read RU’s ethics code of conduct and fully understand the consequences of violating these rules in connection with my thesis. -------------------------------------------------------------------------------------------------------- Date and Place ID No. Signature 2 Abstract The purpose of this study is to identify the kinds of content that are most likely to increase post popularity on Facebook. Icelandair, an Icelandic airline, was chosen as the subject of the study for two reasons. Firstly, the company has a very active and progressive social media marketing strategy. Secondly, competition amongst airlines has been increasing tremendously over the last decade, which has greatly increased the importance of marketing for the industry. The study is conducted using data from Icelandair’s fan page. Posts posted between the beginning of 2011 and early 2015 (242 posts) are collected and then analyzed and categorized by post types.
    [Show full text]
  • Viðskiptayfirlit 2016 – Nasdaq Iceland
    Fréttatilkynning 1 2 / 3 0 / 2 0 1 6 Viðskiptayfirlit 2016 – Nasdaq Iceland Reykjavík, 30. desember, 2016 – Nasdaq (Nasdaq:NDAQ) gefur reglulega út viðskiptayfirlit fyrir kauphallir sínar á Norðurlöndunum og í Eystrasaltsríkjunum. Dregin hafa verið saman helstu atriði yfir viðskipti á Nasdaq Iceland á liðnu ári, 2016. „Aukin virkni hlutabréfaviðskipta á árinu er mikið gleðiefni og í hlutfalli af markaðsvirði skráðra félaga er viðskiptamagnið nú ekki fjarri því sem það er í öðrum kauphöllum Nasdaq á Norðurlöndunum. Á hinn bóginn var verðþróun á innlendum hlutabréfamarkaði á árinu heldur óhagstæð fjárfestum þegar á heildina er litið.“ , segir Magnús Harðarson, forstöðumaður viðskiptasviðs Nasdaq Iceland. „Skuldabréf gáfu ágæta ávöxtun á árinu, sérstaklega óverðtryggð bréf, og átti megnið af verðhækkun skuldabréfa sér stað eftir að Seðlabankinn hóf að lækka vexti í lok ágúst. Viðskipti með skuldabréf voru hins vegar daufleg. Mæld á föstu verðlagi hafa þau ekki verið jafnlítil í 15 ár. Einn þeirra þátta sem hefur haft umtalsverð áhrif á viðskipti er bindiskylda á fjármagnsinnstreymi inn á skuldabréfamarkað. Hefur hún ekki einungis stöðvað vaxtamunarviðskipti heldur því sem næst alla fjárfestingu erlendra aðila í skuldabréfum. Er það miður og getur vart hafa verið ætlunin enda væri frekari þátttaka erlendra fjárfesta á skuldabréfamarkaði bæði ríkissjóði og fyrirtækjum í leit að fjármögnun til góðs og markaðnum almennt til framdráttar.“ Hlutabréf: Heildarviðskipti með hlutabréf á árinu námu 559 milljörðum eða 2.227 milljónum á dag. Þessu til samanburðar var veltan með hlutabréf árið 2015 392 milljarðar, eða 1.582 milljónir á dag. Þetta er 41% veltuaukning frá fyrra ári. Mest voru viðskipti með bréf Icelandair Group (ICEAIR) 140,1 milljarður, Marel (MARL) 70,4 milljarðar, Haga (HAGA) 52,6 milljarðar, Reita fasteignafélags 40,8 milljarðar og N1 40,6 milljarðar.
    [Show full text]
  • Annual Report 2011
    195mm innábrot 210mm baksíða 13mm 210mm forsíða 195mm innábrot Annual Report 2011 ➤ Key Figures Key Figures ➤ +354 50 50 300 ■ www.icelandairgroup.is Annual Report 2011 Q 195mm innábrot 210mm baksíða 13mm 210mm forsíða 195mm innábrot i Icelandair Group Annual Report 2011 Icelandair Group Annual Report 2011 ii iii Icelandair Group Annual Report 2011 Icelandair Group Annual Report 2011 iv Key Figures 2007 2008 2009 2010 2011 EBITDA % I 2007–2011 Net profit / loss ISK billion I 2007–2011 OPERATING RESULTS 15 6 Total income 63,477 72,199 80,321 88,015 96,934 14 4 4.6 EBITDAR 11,056 8,821 17,435 21,254 17,751 4.5 12 2 EBITDA 5,477 3,053 8,135 12,578 10,413 0.3 4.5 0.89 0 EBIT 2,337 –7,351 1,483 6,254 4,735 11 9 10 ISK billion net profit ISK earnings EBT continuing operations 129 –8,985 –4,469 6,576 3,500 9 –2 for 2011 per share in 2011 Profit / loss for the year 257 –7,468 –10,665 4,556 4,452 –4 6 –6 –7.5 3 4 –8 BALANCE SHEET –10.7 –10 Total assets 66,760 99,947 89,104 84,239 89,466 0 –12 Total equity 25,033 20,080 14,605 28,403 32,291 2007 2008 2009 2010 2011 2007 2008 2009 2010 2011 10% 11% Interest bearing debt 25,098 43,635 43,136 24,604 24,136 increase in income EBITDA ratio Net interest bearing debt 23,092 39,570 41,227 11, 610 11,056 Total assets ISK billion I 2007–2011 Equity ratio I 2007–2011 from 2010 in 2011 100 40 CASH FLOW 99.9 35 37% 89.1 89.5 36% Net cash from operating activities 3,889 4,531 8,781 15,673 14,386 80 34% 84.2 30 Net cash used in investing activities –5,461 –7,452 –7,799 –5,515 –13,017 Net cash from/used in financing
    [Show full text]
  • Annual Report 2018 2
    Icelandair Group Annual Report 2018 2 Contents 2 Overview 42 Governance 3 Key Figures 43 Corporate Governance 4 Icelandair Group at a Glance 45 The Board of Directors 6 Chairman’s Address 46 The Executive Management 8 President and CEO’s Address 48 Responsibility 11 Business Review 49 Corporate Social Responsibility 12 Vision and Strategy 50 Environmental Accounting 14 Structure 53 Social Accounting 15 International Flight Operations 55 Governance Accounting 17 Air Iceland Connect 56 Accounts 19 Loftleidir Icelandic 57 Consolidated Financial Statements 20 Icelandair Hotels 23 Iceland Travel 24 VITA 25 Financial Review 26 Shareholder Information 29 Performance in 2018 33 Financial Position 36 Risk Management 40 Outlook 2019 Overview ICELANDAIR ANNUAL REPORT 2018 3 Key Figures USD thousands 2018 2017* 2016 2015 2014 Operating results 47% 43% 42% Total income 1,510,518 1,417,987 1,285,574 1,139,699 1,113,297 44% 20% EBITDAR 126,893 207,765 254,960 261,710 193,410 19% 17% 32% EBITDA 76,479 170,076 219,845 226,666 154,338 EBIT -56,968 49,645 118,437 142,840 79,009 12% EBT continuing operations -67,810 48,642 120,111 140,223 79,908 Loss / profit for the period -55,570 37,538 89,068 111,223 66,499 5% 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018-56 Balance sheet Total assets 1,464,122 1,423,842 1,292,493 971,979 849,220 GRAPH 1: EBITDA % 2014–2018 GRAPH 6: Equity ratio Total equity 471,379 596,545 568,213 456,531 365,055 2014–2018 Interest-bearing debt 415,801 289,541 242,382 65,530 61,934 Net interest-bearing debt 116,341 64,263 -7,743 -148,589
    [Show full text]
  • Virðismat Á Icelandair Group
    Háskólinn á Bifröst Viðskiptasvið Virðismat á Icelandair Group Ritgerð til BS gráðu í viðskiptafræði Vorönn 2021 Nemandi: Bjarni Heiðar Halldórsson Leiðbeinandi: Húni Jóhannesson Staðfesting lokaverkefnis til BS gráðu í viðskiptafræði Titill verkefnis: Virðismat á eigin fé Icelandair group? unnið af: Bjarni Heiðar Halldórsson, kt. 050886-2719 Verkefnið hefur verið metið samkvæmt reglum og kröfum Háskólans á Bifröst og hlotið Lokaeinkunnina ___________ Háskólinn á Bifröst, dags. ______________ ________________________ Stimpill skólans ________________________ Deildarforseti ________________________ Leiðbeinandi Útdráttur Í þessari rannsókn er leitast við að framkvæma virðismat á Icelandair Group og svara með því rannsóknarspurningunni: „Hvert er eiginlegt virði Icelandair Group þann 1. apríl 2021?“. Markmiðið með virðismatinu er að leggja mat á hvort hlutir félagsins á markaði teljist yfir- eða undir verðlagðir. Niðurstöður þessarar rannsóknar gefa til kynna að eiginlegt virði hlutanna sé 2,58 krónur. Í upphafi aprílmánaðar var gengi hlutanna á markaði hins vegar 1,40 krónur og gefa niðurstöðurnar því til kynna að hlutirnir séu undirverðlagðir um rúm 84 prósent og að kaupaðstæður fyrir fjárfesta í félaginu séu því hagstæðar. Hins vegar bendir margt til þess að fjárfesting í félaginu feli í sér umtalsverða áhættu og sé því ekki hentugur valkostur fyrir áhættufælna fjárfesta. Virðismatsaðferðin sem stuðst er við í þessari rannsókn er afvaxtað sjóðstreymislíkan þar sem virði félagsins er metið út frá núvirtu frjálsu sjóðstreymi til fyrirtækisins að viðbættu niðurlagsvirði. Til stuðnings virðismatsins var bæði framkvæmd stefnumiðuð og fjárhagsleg greining á félaginu. Stefnumiðaða greiningin var framkvæmd með PESTEL greiningu, fimm krafta líkani Porters, VRIO auðlindalíkani og SVÓT greiningu og hafði það að leiðarljósi að greina þá lykilþætti í umhverfi félagsins sem skapað gætu því aukið virði eða dregið úr arðsemi þess fram á við.
    [Show full text]
  • Icelandair Group Hf
    Icelandair Group hf. Consolidated Financial Statements for the year 2020 Icelandair Group hf. I Reykjavíkurflugvöllur I 102 Reykjavík Iceland I Reg. no. 631205-1780 Contents Endorsement and Statement by the Board of Directors and the CEO ................................................................... 3 Independent Auditors' Report ................................................................................................................................. 7 Consolidated Income Statement and other Comprehensive Income ..................................................................... 12 Consolidated Statement of Financial Position ........................................................................................................ 13 Consolidated Statement of Changes in Equity ....................................................................................................... 14 Consolidated Statement of Cash Flows ................................................................................................................. 15 Notes to the Consolidated Financial Statements .................................................................................................... 16 Note Page Note Page 1. Reporting entity ........................................ 16 24. Inventories ................................................. 32 2. Basis of accounting .................................. 16 25. Marketable securities ................................ 33 3. Functional and presentation currency ...... 16 26. Trade and other receivables
    [Show full text]
  • Financial Statements for the Year 2020
    Icelandair Group hf. Consolidated Financial Statements for the year 2020 Icelandair Group hf. I Reykjavíkurflugvöllur I 102 Reykjavík Iceland I Reg. no. 631205-1780 Contents Endorsement and Statement by the Board of Directors and the CEO ................................................................... 3 Independent Auditors' Report ................................................................................................................................. 7 Consolidated Income Statement and other Comprehensive Income ..................................................................... 12 Consolidated Statement of Financial Position ........................................................................................................ 13 Consolidated Statement of Changes in Equity ....................................................................................................... 14 Consolidated Statement of Cash Flows ................................................................................................................. 15 Notes to the Consolidated Financial Statements .................................................................................................... 16 Note Page Note Page 1. Reporting entity ........................................ 16 24. Inventories ................................................. 32 2. Basis of accounting .................................. 16 25. Marketable securities ................................ 33 3. Functional and presentation currency ...... 16 26. Trade and other receivables
    [Show full text]
  • Icelandair Group Hf
    Icelandair Group hf. Consolidated Financial Statements for the year 2018 USD Icelandair Group hf. Reykjavíkurflugvöllur 101 Reykjavík Iceland Reg. no. 631205-1780 Contents Endorsement and Statement by the Board of Directors and the CEO ............................................................. 3 Independent Auditors' Report .......................................................................................................................... 6 Consolidated Statement of Profit or Loss and other Comprehensive Income ................................................. 10 Consolidated Statement of Financial Position .................................................................................................. 11 Consolidated Statement of Changes in Equity ................................................................................................ 12 Consolidated Statement of Cash Flows ........................................................................................................... 13 Notes to the Consolidated Financial Statements .............................................................................................. 14 Appendices: Corporate Governance Statement .................................................................................................................... 56 Non-Financial Reporting ................................................................................................................................... 60 Quarterly Statements ......................................................................................................................................
    [Show full text]