Since December 2006 Icelandair Group’s shares have been listed on NASDAQ OMX under the symbol ICEAIR. The Company's share capital was increased by 5.2 billion shares in 2022 and the market capitalization of the Company was ISK 66.3 billion at year-end. The Company’s share price decreased by 11% in 2022 and was 1.61 at the end of the year.
The Company's share capital amounts to ISK 41,120,247 thousand according to its Articles of Association. Each share carries one vote at shareholders' meetings. The shares are freely transferable unless otherwise stipulated by law. All shareholders hold equal rights to dividend payments as declared from time to time. The Company issued new shares in the nominal amount of ISK 5,161,815 thousand in 2022.
A total of 1,414,773,617 shares were sold to the Blue Issuer Designated Activity Company, a subsidiary of Bain Capital, and 3,747,041,800 shares were issued in relation to the exercise of warrant classes ICEAIRW180222 and ICEAIRW120822. All the new shares were issued within the same share class as all existing shares in Icelandair Group. The Company held no treasury shares at year-end 2022.
Icelandair Group’s share price was ISK 1.61 at year-end 2022 compared to 1.82 at year-end 2021, a decrease of 11.5%. The highest closing price in 2022 was ISK 2.29 per share, the lowest closing price was ISK 1.39 per share and the average closing price over the year was ISK 1.83 per share.
| 2022 |
|---|
| 66,286 |
| 1.61 |
| 2.29 |
| 1.39 |
| 41,120 |
| 41,120 |
| 38,807 |
Icelandair has an agreement with Islandsbanki hf. regarding market-making for the issued shares of Icelandair Group. The agreement is of unspecified duration and may be terminated with one month's notice. The purpose of the agreement is to improve liquidity and to enhance transparent price formation for the Company’s shares on NASDAQ OMX Iceland.
Shares in Icelandair Group were traded 21,019 times in 2022 (2021:22,546 times) for a total market value of ISK 59.5 billion (ISK 46.3 billion in 2021). The average number of shares traded was 128.0 million. Icelandair Group’s market capitalization at the end of 2022 was ISK 66.3 billion.
Total comprehensive loss for the year was USD 20.145 million in 2022, corresponding to -0.02 US cents per share. The Company’s total equity at year-end was USD 273.4 million.
| 2022 |
|---|
| -0.02 |
| 0.88 |
| 15,896 |
At the end of 2022 the number of shareholders was 15,896, an increase of 609 during the year. The ten largest shareholders held 40.1% of the shares.
| % |
|---|
| 0.5 |
| 6.9 |
| 16.7 |
| 14.2 |
| 61.7 |
| 100.0 |
The last few years have been financially challenging, but throughout that time our shareholders and other key stakeholders have shown their full support towards Icelandair and its employees. This is the main reason for why we were able to quickly ramp up operations as demand for travel bounced back in 2022. In addition, during the pandemic we successfully implemented a series of measures to improve our financial performance and at the end of 2022 our liquidity and balance sheet was strong. Icelandair’s commitment to prudent financial management has positioned it for long-term success, built on sustainable growth.
Ívar S. Kristinsson
CFO
| Shares in % |
|---|
| 17.20 |
| 3.72 |
| 3.38 |
| 3.19 |
| 3.08 |
| 2.87 |
| 2.27 |
| 1.61 |
| 1.41 |
| 1.34 |
| 59.92 |
| 100.00 |
Icelandair Group's goal is to pay 20-40% of each year's net profit in dividends. Final annual dividend payments will be based on the financial position of the Company, operating capital requirements and market conditions.
The Company had an accumulated deficit at year-end, accordingly the Board of Directors proposes no dividend payment to shareholders for the year 2022.
Icelandair Group’s objective is to ensure that timely and correct information about the Company is made available to all stakeholders simultaneously, regularly and consistently. All press releases, financial disclosures and Company announcements are published through GlobeNewswire, a NASDAQ company. Icelandair strives continuously to improve the quality, transparency and consistency of its information disclosures.
The investors’ website at www.icelandairgroup.com/investors/ provides extensive news and background information on Icelandair for both analysts and investors. The site contains archived regulatory announcements, financial reports and presentations, shareholder information, share price information, dividend policy, and the financial calendar.
Financial statement Q1 2023
Week 17 2023
Financial statement Q2 2023
Week 29 2023
Financial statement Q3 2023
Week 42 2023
Financial statement Q4 2023
Week 5 2024
Annual General Meeting
Week 10 2024