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Arctic Fish (AFISH) investor relations material
Arctic Fish Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Quarterly harvest volumes surged 177% year-over-year to 5,595 tonnes, with YTD volumes at 11,624 tonnes, driving a 158% increase in revenue to €32.5 million compared to Q2 2025.
Operational EBIT improved to negative €3.1 million from negative €4.4 million in Q2 2025, reflecting better cost control and economies of scale, though still negative.
Achieved Global G.A.P. certification, becoming Iceland's first fish farmer to do so and underscoring leadership in sustainable and traceable salmon farming.
Financial highlights
Revenue reached €32.5 million, up from €12.6 million in Q2 2025, mainly due to higher harvest volumes.
Operational EBITDA was negative €0.7 million, an improvement from negative €2.1 million in Q2 2025.
Net loss for the quarter was €10.6 million, with basic EPS at negative €0.24.
Net interest-bearing debt increased to €143.2 million at quarter end.
Cash flow from operations was positive at €3.6 million; net capital expenditure was €2.7 million.
Outlook and guidance
2026 harvest volume guidance remains at 18,000 tonnes, a 22% increase year-over-year.
Cost reduction measures are ongoing, with expectations for lower cost levels ahead.
- Record Q1 harvest and EBIT growth drive 2026 guidance up to 18,000 tonnes.AFISH
Q1 2026 - Record harvest and revenue in 2025, but lower EBIT and EPS; 2026 targets 18% volume growth.AFISH
Q4 2025 - Record harvests and revenue growth, but low prices led to negative EBIT and net loss.AFISH
Q3 2025 - Harvested volumes up 58%, but lower prices led to negative EBIT and a proposed equity increase.AFISH
Q2 2025 - Operational EBIT per kg rose year-over-year, with long-term harvest targets reaffirmed.AFISH
Q3 2024 - Record EBIT and harvests offset by negative biomass revaluation and lower 2024 outlook.AFISH
Q2 2024 - Revenue fell 9% as prices dropped, despite higher volumes and strong biological results.AFISH
Q1 2025 - Record EBIT in 2024 and 40% harvest growth targeted for 2025 with secured capacity.AFISH
Q4 2024
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