Matís Finance


Elín Helena Bjarnadóttir

Director of Finance and Operations

Matís Finance

A great deal of work is put into the operating plan and settlement, and the plan and detailed operating settlement are reviewed every month at the request of the Board, and therefore the follow-up is extensive.

Preparatory work for the preparation of Matís' operating plan for the coming operating year always begins in mid-September. The basic work of the planning takes place in Matís' support department, finance and operations, and is managed by the CFO. The operating plan is then reviewed with the project managers and reviewed with the division managers before it is submitted to the board.

Matís' total income has grown steadily since its establishment. The largest part of Matís' revenue in 2017 comes from a service agreement with the Ministry of Industry and Innovation, via 26%, as the company plays an important role in the food inspection of the Food Administration and the municipal health inspectorate. Matís conducts research for these institutions and provides independent advice when requested. Matís' 25% revenue comes from foreign partnerships in the 2017 financial year.  

Domestic funds amount to 18% sales revenue in 2017 and are also important in Matís' revenue generation. Matís' other income is divided so that domestic companies have about 17% sales revenue in 2017 and other public bodies about 5%.

Proportional distribution of income

Figure: Bar chart showing the relative distribution of income in the years 2007-2019

The largest expense items other than salaries and salary-related expenses are office and administrative expenses, operating expenses for projects and the operation of housing.

Matís is in good co-operation with the National Audit Office, which is responsible for auditing Matís' annual accounts.
Accounting processes and procedures are being worked on in collaboration with the National Audit Office, and the National Audit Office's comments on Matís' operations have been uncommented recently. years.

Annual Accounts of Matís ohf.