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Icelandic Salmon
Icelandic Salmon (ISLAX) investor relations material
Icelandic Salmon Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary3 Nov, 2026
Executive summary
Q3 harvest was 5,200 tonnes versus 3,800 tonnes in Q3 2025; operational EBIT improved to EUR 1.4m from a EUR 9.4m loss.
Improved biological performance, lower underlying costs and stronger price achievement supported results.
Financial highlights
Q3 operating income was EUR 40.1m versus EUR 25.1m; operational EBIT was EUR 1.4m versus a EUR 9.4m loss.
YTD operating income was EUR 107.0m versus EUR 60.6m; operational EBIT was a EUR 1.9m loss versus a EUR 20.7m loss.
Q3 EBITDA generated EUR 5.1m of positive cash flow; fair-value adjustments were EUR 0.2m, with limited earnings and equity impact.
YTD harvest was 14.4k tonnes versus 8.9k tonnes; production tax was EUR 4.4m versus EUR 2.8m.
Outlook and guidance
2026 harvest guidance is 20,000 tonnes, with 1,300 tonnes shifted to 2027; 2027 guidance is 18,000 tonnes, affected by biological challenges.
Q4 costs are projected below Q3, though stable QoQ is the conservative outlook given biological issues at one 2025-generation site.
2027 harvest is expected to be backloaded, with 35%–40% in H1; smolt releases are expected to rise by ~800,000 to nearly 6 million.
Higher feed prices are expected to slightly increase 2027 costs; annual contract share is expected at ~10%.
Existing licenses could support 26,000 tonnes, but further growth and investment depend on regulatory clarity and an acceptable tax regime.
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Latest events from Icelandic Salmon
- Harvest, revenue, and EBIT improved, but regulatory risks and biological challenges persist.ISLAX
Q2 2026 - Q1 EBIT neared break-even as volumes rose, with stable 2026 outlook despite lower prices.ISLAXQ1 2026
- Q4 2025 delivered improved results and a positive outlook, with 2026 volume guidance at 21,300 tonnes.ISLAXQ4 2025
- Operational loss from high costs, but harvest growth and 2026 recovery expected.ISLAXQ3 2025
- Operational losses and lower guidance amid biological, regulatory, and market challenges.ISLAXQ2 2025
- Harvest and EBIT were low in Q3, but strong demand and higher volumes are expected in Q4.ISLAXQ3 2024
- Biological setbacks drove Q2 and H1 losses, but new licenses and ASC certification support growth.ISLAXQ2 2024
- Biological setbacks and weak prices drove a Q1 2025 loss, but 2025 guidance is unchanged.ISLAXQ1 2025
- Stabilized Q4 operations, strong demand, and 2025 volume guidance at 15,000 tonnes.ISLAXQ4 2024
Next Icelandic Salmon earnings date
Q4 202616 Feb, 2027
Icelandic Salmon
Next Icelandic Salmon earnings date
Q4 202616 Feb, 2027
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Frequently asked questions
Icelandic Salmon AS, also known as Arnarlax, is engaged in the production, processing, and sale of farmed salmon. The company operates primarily in Europe, North America, and Asia, focusing on sustainable aquaculture. Icelandic Salmon AS oversees salmon farming activities through its subsidiaries, ensuring a reliable supply chain for high-quality seafood products. It changed its name from Arnarlax AS to Icelandic Salmon AS in 2020 and is a subsidiary of Norwegian company SalMar ASA. The company is headquartered in Bíldudalur, Iceland, and its shares are listed on the Oslo Stock Exchange.