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Eimskipafélag Íslands (EIM) investor relations material
Eimskipafélag Íslands Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 revenue rose 19.4% YoY to €245.2m and EBITDA increased 43.6% to €29.3m, supported by stronger volumes and operational efficiencies.
Performance improved across all three segments; higher activity increased working capital and weighed on cash flow.
Financial highlights
Q3 expenses rose 16.7% to €215.9m; EBIT was €13.7m versus €5.9m and net earnings were €15.5m versus €5.6m.
9M revenue increased 8.8% to €662.3m, EBITDA rose 5.0% to €59.8m and net earnings reached €16.3m versus €9.4m.
9M operating cash flow was €17.6m versus €43.4m; Q3 operating cash flow was negative €6.4m.
Salaries increased 4.6% YoY to €41.1m, or 2.0% excluding €1.0m of FX impact; average FTEs declined by 42.
Outlook and guidance
Q4 activity is expected to be solid across all segments with normal seasonality; Iceland imports are forecast higher YoY and exports strong, with a late-quarter slowdown.
Trans-Atlantic volumes are expected to remain at Q3 levels and above Q4 2025, with higher average rates; Norway volumes are forecast higher YoY despite reduced quotas.
Forwarding volumes are expected to exceed last year with broadly stable rates, though Asia-Europe capacity constraints may limit growth; trucking may soften seasonally.
Warehousing outlook is positive toward year-end, while cold storage in Norway and the Faroe Islands remains challenged by lower stocks; strong affiliate performance is expected.
Two Elbfeeder vessel sales are expected to contribute approximately €12m across Q3 and Q4 2026.
- Freight normalization cut EBITDA 24.4%; liquidity supported a proposed EUR 25m dividend.EIM
Q4 2023 - Q2 2026 revenue up 11.4% YoY; stable EBITDA offset by higher costs and operational gains.EIM
Q2 2026 - Revenue and EBITDA fell sharply, with a net loss of EUR 4.7m and rising market uncertainty.EIM
Q1 2026 - Revenue and earnings fell in 2025, but cost-saving and strategic actions target recovery.EIM
Q4 2025 - Revenue and earnings fell sharply in Q3 2025, with further volume and margin risks ahead.EIM
Q3 2025 - Lower freight rates and higher costs drove a 43% net earnings drop in Q2 2025.EIM
Q2 2025 - Q3 2024 revenue up, but earnings fell amid cost pressures and volatile shipping markets.EIM
Q3 2024 - Net earnings dropped to EUR 8.4m as lower liner revenue and costs weighed on results.EIM
Q2 2024 - Q4 rebound lifted revenue, but annual EBITDA and profit fell amid volatile shipping markets.EIM
Q4 2024
Next Eimskipafélag Íslands earnings date
Next Eimskipafélag Íslands earnings date
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