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News

five°degrees named one of Iceland’s Strongest Companies

by five°degrees | 4 November, 2019

Creditinfo has recognized five°degrees as one of Iceland’s Strongest Companies for the 9th consecutive year. This title is awarded to companies who have maintained stability in their operational performance over time, demonstrating that they are more likely to withstand market fluctuationsOnly around 2% of companies in Iceland meet these conditions. 

Creditinfo’s criteria to become the strongest includes: 

  • Categorised by Creditinfo in risk category 1,2 or 3 
  • Positive EBIT for each of the past three years 
  • Positive operating profit for each of the past three years 
  • Equity ratio at least 20% for each of the past three years 
  • Has submitted financial statement to RSK for the past three years 
  • Registered CEO at the company register 
  • Defined as a credit active company according to Creditinfo 
  • Operating income of at least ISK 50 million 2017 and 2018 
  • Total assets at least ISK 100m for 2018 and 2017, and 90m 2016 

We would like to thank all our customers and employees to help us achieve this milestone. With their continued support, we will maintain the high quality standards that make five°degrees the strong company that it is.