Gjǫrðusk — Gǫndlar borða
glaumr óx þar at * Naumu —
auði grimms at eyðask
ǫll lǫnd Dana brandi.
Kennt hefr heggr at hǫggva
vegg*s niðr of þat skeggi.
Ǫll lǫnd grimms auði gjǫrðusk at eyðask brandi Dana; glaumr borða Gǫndlar óx þar at * Naumu. Heggr hræ*birtinga hefr kennt sævar viggja* vegg*s veðreggjǫndum at hǫggva skeggi niðr of þat.
All the lands of the one hostile to riches [Hákon] came to be laid waste with the sword of the Danes; the revelry of the planks of Gǫndul <valkyrie> [SHIELDS > BATTLE] increased there at Nauma. The bird-cherry of the corpse-trout [SWORDS > WARRIOR = Hákon] has taught the inciters of the weather of the wall of the horses of the sea [(lit. ‘weather-inciters of the wall of the horses of the sea’) SHIPS > SHIELD > BATTLE > WARRIORS] to hit down with their beards on account of that.
 hræ*birtinga: ‘hræber bírtíngum’ 510
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