Atlantica - 01.06.2002, Qupperneq 65

ANNUAL REPORT CARD
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DELTA GROUP
The advancement of Delta is directed
toward making the company a strong,
international concern in the field of
know-how. The firm possesses far-
reaching experience in the develop-
ment of generic medicines, has a very
skilled team of personnel, and
belongs to the group of the most
powerful firms listed on the Iceland
Stock Exchange. The cutting edge of
the Icelandic pharmaceutical indus-
try is broad, regarding both invest-
ments and international co-opera-
tion, and in coming years, Delta
intends to further strengthen its posi-
tion in the development and sale of
pharmaceutical knowledge and
generic medicines domestically, as
well as abroad. Delta’s headquarters
are situated in Iceland, where the
company operates a tablet factory
and research laboratories, in addition
to a special development plant
recently put into operation. Delta’s
activities also take place in three
other countries. Subsequent to
Delta’s purchase of Pharmamed, the
largest part of its pharmaceutical pro-
duction will proceed in Malta. A sales
office is operated in the British Isles,
and a subsidiary, Medis-Danmark
A/S, provides drug registration serv-
ices in Denmark. Some 90% of the
company’s income derives from sales
abroad. Profits of the Delta Group in
2001 amounted to USD 8.12 million
after tax, or 105% above the year’s
business plan, in which profits of
USD 3.95 were anticipated. For com-
parison, profits for the year 2000
were in the order of USD 2.20 mil-
lion, so that the increase totalled
266% from one year to the next. The
profit per share was 3.7 US cents, as
compared to 1.0 US cent in 2000.
ÖSSUR
Össur is a leading international man-
ufacturer of prosthetic devices (artifi-
cial limbs), employing about 400 staff
around the globe. Össur’s head office
is in Iceland. The company has North
American, European and Nordic
operations, with an extensive network
across other international markets.
Össur’s aim is to create prosthetics
that imitate the function of the
human body as closely as possible,
allowing people the opportunity to
live the kind of life they want, even if
they have lost a limb. The company
has developed and invested in a num-
ber of brands, which represent the
highest standards of quality and func-
tionality all over the world. Bringing
together the expertise and materials
technology behind these names is
securing future growth and taking
product development to a new level.
Össur invests a record percentage of
revenues in research and develop-
ment, which is reflected in the num-
ber of new products launched each
year. The company’s mission is to
exceed the expectations of their cus-
tomers and to continue to be a lead-
ing company in the field of prosthet-
ics and orthotics. Developing and util-
ising the best available technology,
Össur is committed to producing the
best possible solutions. This year,
Össur is launching at least ten new
products. Some are revolutionary,
others are improvements of existing
products – all are aimed at improving
the quality of life for amputees. Össur
reported sales of USD 69 million in
2001, with net earnings of USD 8.6
million. Össur is listed on the Iceland
Stock Exchange. In 2002, Össur
began reporting in US dollars and
shareholders have recently approved
the conversion of Össur stocks from
Icelandic króna to US dollars.
ÍSLANDSBANKI
Íslandsbanki is the leading financial
group in Iceland and the largest com-
pany on the Iceland Stock Exchange
in terms of market capitalisation. The
bank offers universal banking servic-
es to households, businesses and
institutional investors. The service
range includes retail banking, corpo-
rate and investment banking, broker-
age, leasing, private banking and asset
management.
Íslandsbanki was formed with the
merger of The Icelandic Investment
Bank (FBA) and the commercial bank
Íslandsbanki in 2000. Through its
predecessors, the bank can trace its
roots back to 1904, at the dawn of the
modernisation of the Icelandic econ-
omy. Its long-lasting relationship with
major industries and its financial
strength make Íslandsbanki the pri-
mary choice for financial services
among Icelandic corporations and
institutional investors. The bank also
enjoys a strong position among
households and small to medium-
sized enterprises, supported by an
extensive domestic branch network
and cutting-edge Internet services
since 1995. On top of its leading
domestic standing, the bank’s inter-
national activities have grown rapidly
in recent years. The focus has, in par-
ticular, been on supporting the
expansion of Icelandic companies
abroad and generating new global
businesses based on the bank’s
expertise in fish industries.
At the end of 2001, Íslandsbanki’s
total assets amounted to ISK 348 bil-
lion (USD 3.4 billion). Return on
equity was 24.5% after tax in 2001.
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