Samherji has noted that it expects the second wave of the coronavirus pandemic currently being felt across Europe to have a greater impact on its bottom line than the first wave in March, due to the tougher action being taken by its key trading partners.

Writing in the company's annual results, CEO Thorsteinn Mar Baldvinsson said: "The operating environment has changed a lot since the last annual results due to the COVID-19 pandemic, but the effect is not immediately apparent. We are now facing a new reality as demand is increasingly shifting from restaurants to retail. On the other hand, we have succeeded in adapting the operation to the changes that have taken place in demand following the epidemic."

On the upcoming challenges, Samherji notes that both its economic and liquidity position is strong, with an equity ratio of 66% at the end of 2019 and all long-term financing already secured [...]