Atlantica - 01.06.2001, Page 81

Ever since it was founded in 1982,
Kaupthing has been the leading
Icelandic investment bank, and
continues to consolidate its posi-
tion in the fast-growing financial
market, despite increasingly
tough competition. The bank
offers an all-round service in
relation to the stock market and
has the largest market share of
any Icelandic finance company
in broking domestic and over-
seas shares. In recent years,
Kaupthing has led the field in
supervising sales of property and
companies. Kaupthing places
great emphasis on being a com-
petitive investment bank on the
international markets, and
already has a head start over
other Icelandic companies in
this field as a pioneer of pro-
gressive expansion overseas.
Increased competition has pro-
vided the bank with the incen-
tive for innovation, particularly
in the management of interna-
tional funds from Iceland, and in
the founding of subsidiary com-
panies in Luxembourg. The bank
also has branches in New York,
Stockholm, the Faroe Islands,
Lausanne and Copenhagen.
Baugur Corporation is an inter-
national company with a strong
home base, investing in and
building up retail companies.
Maximum results are achieved
through good marketing skills, a
disciplined operation and pow-
erful purchasing administrators.
Progressive employee policies
include personal development of
the staff and a steady search for
leadership talents within the
company. Integrity, equity and
courtesy in our business rela-
tionships with suppliers and
clients are demanded. It is also
Baugur’s policy to achieve har-
mony with the community and
the environment. Total revenue
amounted to ISK 26,233 million
(US 332 million) and net earn-
ings were ISK 590 million (USD
7,5 million). The equity ratio
was 33% and return on equity
was 11,5%. Recently Baugur
aquired 20% share in Arcadia in
the United Kingdom, and also a
majority holding in the US chain
store Bill’s Dollar Stores.
Eimskip (The Iceland Steamship
Company Ltd.) was established
in 1914. In recent years, invest-
ment in other companies has
emerged as a new factor.
Eimskip´s activities have there-
fore evolved into two main busi-
nesses, transport operations and
investment activities. Today,
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Eimskip is a leading provider of
total transportation solutions in
the North Atlantic. Eimskip has
offices throughout Iceland,
Europe and the east coast of the
USA and Canada, and agents all
around the world, making up an
integrated worldwide transporta-
tion network. The Eimskip
Group´s objective is to uncondi-
tionally provide outstanding
service, where quality is reflect-
ed in all operations and manage-
ment, as well as in employee
attitude. Eimskip´s operations
and worldwide network are
designed to serve our customers
with reliable and professional
transport. Burdarás ehf.,
Eimskip´s subsidiary, serves as
holding company for shares in
other companies. Eimskip´s
total revenue amounted to ISK
16,657 million (USD 196 million)
in 2000, and net earnings were
ISK 520 million (USD 6 million).
Delta Ltd.
is one of
the leading
companies
in generic
pharma-
ceutical
development and production.
Delta was founded in 1981 and
is now listed among Europe’s
500 most dynamic and outstand-
ing companies. The Icelandic
pharmaceutical industry has
profited from the country’s
patent status and has therefore
had considerable freedom to
work with substances still cov-
ered by patents in the rest of
Europe. Delta exports its prod-
ucts to most EU countries, with
marketing authorisation in over
20 countries. Turnover amount-
ed to ISK 2,100 million and
profit from Delta’s operations
amounted to ISK 222 million for
the year 2000. The exchange rate
of shares in Delta increased by
30% during the year. Recently,
Delta increased its capacity
threefold, buying Pharmamed,
a pharmaceutical company in
Malta. After the merger, Delta
now has 400 employees and
turnover is now estimated at ISK
5,000 million. The key to Delta’s
bright future lies in its heavy
investments in development, as
well as expansion into exporting
products to new market areas.
ANNUAL REPORT CARD
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