Syn says pandemic prevented FY net profit as Q4 revenue rises 10%

Thursday 25 February 2021 | 12:22 CET | News
Vodafone Iceland's parent company, Syn, said that without the pandemic hitting roaming and advertising revenue, it would have reported a net profit in FY 2020 instead of the ISK 405 million loss. In 2019, the FY net loss was ISK 1.75 billion, after a ISK 2.5 billion impairment of goodwill related to the 2017 purchase of 365 Midlar assets and operations. Revenue in Q4 2020 rose by ISK 478 million or 10 percent year on year to ISK 5.41 billion.

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.


Already registered?

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: General
Companies: Vodafone Iceland
Countries: Iceland
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Syn agrees towers sale and lease-back, sells stake in Faroese associate

Published 01 Apr 2021 09:51 CET | Iceland
Vodafone Iceland parent company Syn said it has signed an agreement for the sale and leaseback of passive mobile infrastructure ...

Siminn lifts Q4 revenue and EBITDA as Mila connects 10,000 more homes to fibre in FY

Published 19 Feb 2021 12:49 CET | Iceland
Icelandic operator Siminn expressed satisfaction with its results in the fourth quarter of 2020, a year in which the pandemic ...

Icelandic government to hand out grants for rural fibre connectivity

Published 03 Feb 2021 13:56 CET | Iceland
The Icelandic government said telecoms regulator PTS will be allocating grants on its behalf to municipal councils under the ...

NENT, Syn share UEFA Champions League rights for Iceland

Published 21 Jan 2021 12:41 CET | Iceland
Nordic Entertainment Group (NENT) said it will show live UEFA Champions League football on its Viaplay streaming service in ...

Neydarlinan to power Emergency Communications System in Reykjavik with GenCell system

Published 13 Jan 2021 09:47 CET | Iceland
Icelandic telecom services provider Neydarlinan has inked a new deal with GenCell Energy, for the provision of green energy ...

Syn says investors complete due diligence on passive mobile infrastructure

Published 21 Dec 2020 12:42 CET | Iceland
Vodafone Iceland parent company Syn said the investors with which it has been negotiating have completed due diligence concerning ...

Vodafone Iceland CTO retires

Published 01 Dec 2020 11:57 CET | Iceland
Syn has announced the retirement of Vodafone Iceland chief technology officer  Kjartan Briem at the turn of the year. The company ...

Vodafone Iceland parent Syn negotiates sale and lease-back of infrastructure

Published 26 Oct 2020 09:37 CET | Iceland
Vodafone Iceland owner Syn said it has reached an agreement with foreign investors on private negotiations and the main terms for ...