Styrkás hf. Signs Heads of Terms for the Purchase of Hringrás ehf.

Trading statement for the third quarter 2024

Letter of Intent Signed for Merger of Samkaup, Heimkaup and Orkan

SKEL and Samkaup agree to continue exploratory negotiations

SKEL purchases 50 apartments at Stefnisvogur

Profit for the year 5,410 million ISK and ROE 16.4%

SKEL fjárfestingafélag hf. and Samkaup hf., have signed a joint statement on the launch of exploratory negotiations toward a potential merger between Samkaup and certain companies in the SKEL group.

Statement signed for the exploratory merger negotiations of Samkaup, Heimkaup, and Orkan

Styrkás signs a term sheet for the acquisition of Stólpi Gámar ehf. and related companies

All conditions fulfilled in relation to Horn 3,500,000,000 ISK investment in Styrkás

Ásmundur Tryggvason appointed CEO of Styrkás

SKEL signs agreements for the purchase of 55 apartments at Stefnisvogur 2 and a call option to purchase 35 apartments at Stefnisvogur 12

SKEL published H1 financial statements today

2.06 billion ISK profit after tax in H1 2023

Sale of shares in SP/F Orkufelagið completed

SKEL fjárfestingafélag hf.: Horn IV invests in Styrkás, the holding company of Skeljungur and Klettur - sala og þjónusta

PERFORMANCE OF OPERATING COMPANIES AND LISTED SHARES IN 1Q 2023

We emphasize the development of new opportunities guided by long-term value creation.

We are active investors with the clear objective of supporting strong management teams and entrepreneurs inenhancing and developing enterprises and business ideas.

SKEL is listed on Nasdaq Iceland stock market. 

The Board of Directors and management of SKEL investments place great emphasis on the company’s operations being guided by good governance. Good governance is, in the opinion of the Board and management, the basis of trust and responsible management, but each contributes to good decision-making and good communication between shareholders, the Board, employees and other stakeholders of the company.

The Orkan IS Group began operations on 1 December 2021. Its brands are: Orkan, Löður, Gló, Lyfsalinn, Lyfjaval, 10-11, Extra and Íslenska vetnisfélagið. Orkan also owns shares in Brauð & Co.,  Sbarro and Straumlind. Orkan IS’s goal is to create service stations and stores that serve our customers in a smart, efficient and environmentally friendly way.

Skeljungur operations started on 1 December 2021. The company focuses on sales, distribution, purchasing and wholesale of fuel, lubricants, cleaning and chemical products, fertilisers as well as other products and services to companies and farmers. Services and sales to large-scale users, shipping companies, aviation and contracting are also part of the operations. Skeljungur is also Shell’s agent in Iceland, in addition to its ownership of Barki, EAK and Fjölver.

Gallon was established to manage the part of Skeljungur’s operations which involved the operation of fuel supply stations throughout the country as well as the operation of fuel supply stations at airports. This includes i.a. reception of supply vessels, delivery to ships and for oil trucks. Gallon owns EBK and Tollvörugeymslan.

In conjunction with the sale of P/F Magn, Skeljungur reinvested part of the sale value in Sp/f Orkufelagið, and Skeljungur now owns a 48% share in that company. Orkufelagið’s goal is to become a leader in all energy cycles (full cycle) in the Faroe Islands. The company employs an experienced team in energy matters and professionals in retail. The Faroese government has set a goal of 100% renewable electricity by 2030. The company will use the energy switching and the free Faroese energy market to explore investments in wind, solar, geothermal and district heating (deep drilling); natural gas; and distribution and storage.

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