The Reykjavik, Iceland-based firm posted sales of ISK 10.8 billion (€129.4 million/$157.7 million) in 2005, slightly higher than the ISK 9.3 billion (€111 million/$135.5 million) it did in 2004.
Earnings before interest, taxation, depreciation and amortization (EBITDA) were up slightly, to ISK 1.6 million (€19.1 million/$23.3 million), compared to ISK 1.5 million (€17.9 million/$21.8 million).
HB Grandi realized much lower financial gains in 2005 than in 2004, and as a result, pre-tax profit fell from ISK 1.4 billion (€16.7 million/$20.4 million) to ISK 738.7
