Naðrs gnapa ógn alla,
eyðir baugvalla,
hlunns of hástalla
hestar svanfjalla.
Orms es glatt galla
með gumna spjalla;
jarl fremr sveit snjalla;
slíkt má skǫrung kalla.
Eyðir baugvalla, hestar svanfjalla gnapa of hástalla hlunns alla ógn naðrs. Es glatt með spjalla gumna galla orms; jarl fremr snjalla sveit; slíkt má kalla skǫrung.
Destroyer of shieldboss-meadows [SHIELDS > WARRIOR = Skúli], horses of swan-mountains [WAVES > SHIPS] tower in the tall foundations of the roller throughout the entire terror of the adder [WINTER]. It is cheerful with the confidant of men [RULER] during the destruction of the snake [WINTER]; the jarl advances the clever company; such [a one] one must call an outstanding person.
[6] gumna: so all others, by correction R