Suðr vátt sigr inn þriðja,
snjallr, við borg, þás kalla,
lofðungs kundr, es lenduð
Lizibón, at fróni.
Snjallr kundr lofðungs, vátt inn þriðja sigr suðr við borg, þás kalla Lizibón, es lenduð at fróni.
Courageous descendant of the sovereign, you won the third victory south near the city they call Lisbon when you came ashore.
[2, 4] við borg, þás kalla Lizibón ‘near the city they call Lisbon’: Skj B takes this with the second cl. (es lenduð at fróni ‘when you came ashore’) which complicates the w. o. unnecessarily (see NN §806).