Atlantica - 01.06.2002, Page 67

ANNUAL REPORT CARD
KAUPTHING BANK
Ever since it was founded in 1982,
Kaupthing Bank has been the leading
Icelandic investment bank, and con-
tinues to consolidate its position in
the fast-growing financial market,
despite increasingly tough competi-
tion. 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
brokering domestic and overseas
shares. In recent years, Kaupthing
has led the field in supervising sales
of property and companies.
Kaupthing places great emphasis on
being a competitive investment bank
on the international markets, and
already has a head start over other
Icelandic companies in this field as a
pioneer of progressive expansion
overseas. Increased competition has
provided the bank with the incentive
for innovation, particularly in the
management of international funds
from Iceland, and in the founding of
subsidiary companies in
Luxembourg. The bank also has
branches in New York, Stockholm,
Helsinki, Geneva, the Faroe Islands,
Lausanne and Copenhagen. The
Bank’s name was recently changed to
Kaupthing Bank following a granted
commercial banking license, which
increases opportunities to provide
customers with unparalleled compre-
hensive services.
BAKKAVÖR
Bakkavör Group is an international
company, founded in 1986, compris-
ing a parent company and eight sub-
sidiaries in Europe, together with an
associated company in Chile. The
Group operates sales and production
enterprises in four European coun-
tries, Iceland, France, Sweden and
the United Kingdom, in addition to a
plant in Chile. The Group also has
sales and distribution companies in
Germany, Finland and Poland. Each
of these subsidiaries is operated as an
independent company specialising in
the production, sales and distribution
of chilled food products which cater
to local tastes under their own brand
or in the private labels. This places
the Group in an excellent position to
draw on its core expertise, adaptabili-
ty to local markets and close cus-
tomer relationships with internation-
al supermarket chains establishing
footholds in new and emerging mar-
kets. The strength of the Group in
the future will lie in its ability to
serve the supermarket chains in the
countries where their outlets are
located. Total revenue of the Group
rose by 45% to EUR 67 million and
pre-tax earnings rose 72% to EUR 5.9
million. Total revenue is expected to
rise to EUR 210-220 million in this
year.
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