From Iceland — Blue Lagoon Reports €22 Million Profit In 2019 Amid Mass COVID-19 Layoffs

Blue Lagoon Reports €22 Million Profit In 2019 Amid Mass COVID-19 Layoffs

Published June 29, 2020

Poppy Askham
Photo by
Art Bicnick

The Blue Lagoon 2019 revenue totalled € 125 million, yielding a €22 million profit, Fréttablaðið reports.

The Blue Lagoon manages the world-famous tourist attraction along with several connected shops, restaurants and hotels. At the end of 2019 its assets totalled €79.5 million. Last year’s profits were only slightly down from the company’s 2018 €26.4 million yield.

This news comes following several rounds of mass layoffs at the company earlier this year. As reported, 164 employees were laid off in March. A further 400 workers were put on the government’s reduced work compensation scheme.

The resort was forced to close at the peak of Iceland’s COVID-19 outbreak, but re-opened on June 19th. No dividends will be paid to shareholders for the year 2019 and losses are expected this year. The company is employing operational measures to protect the company from future shocks in the case of a second wave of infections.

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