From Globe Newswire: 2024-06-13 09:00:00

The Financial Management and Risk Management Department of Reykjavík City now presents the unaudited operating results of Part A for the period from January to March 2024, in accordance with municipal laws, accounting laws, and regulations on accounting, finance, and municipal financial statements.

The operating result of Part A is negative by 3.292 million ISK, compared to the planned negative result of 1.935 million ISK for the period. Deviations are mainly due to higher salary costs, 349 million ISK above the estimate, and other operating costs 542 million ISK higher than planned. Key deviations are related to additional winter services, expenses for children with severe disabilities, and higher costs in the education sector.

The financial result for capital items and depreciation (EBITA) was positive by 1.589 million ISK, which is 1.036 million ISK lower than planned. Surplus from operations was positive by 361 million ISK, 789 million ISK lower than estimated. The surplus was 573 million ISK better than the same period last year in 2023.

The operating results were presented in the City Council today in line with the timetable for monthly and year-end accounts for 2024.

For further information, contact Hörður Hilmarsson, Deputy Manager of the Financial and Risk Management Department, Reykjavík City, at [email protected].



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