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Síldarvinnslann (SVN) investor relations material

Síldarvinnslann Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary27 Nov, 2025

Executive summary

  • Strong operational performance in pelagic fishing and processing, with good mackerel and herring catches and favorable market prices year-over-year.

  • Operations generated $286.2 million in revenue and $44.5 million in net profit for the nine months ended September 30, 2025, reflecting strong performance in fishing and fish processing.

  • Land-based processing in Grindavík resumed smoothly after summer maintenance, and main whitefish markets remained robust.

  • Total assets reached $1.12 billion, with equity at $718.9 million and an equity ratio of 64.3% at period end.

  • Challenges noted in the operation of the Arctic Fish associate.

Financial highlights

  • Q3 2025 revenue was $127.5M, up from $95.1M in Q3 2024; EBITDA rose to $44.8M (35.1% margin), and net profit increased to $32.1M from $19.1M year-over-year.

  • For the first nine months, revenue reached $286.3M (up from $236.8M), EBITDA $82.8M (28.9% margin), and net profit $44.5M, all showing significant year-over-year growth.

  • Earnings per share for the period were $0.0239, up from $0.0153 year-over-year.

  • Total comprehensive income was $93.5 million, driven by strong translation gains.

  • Cash at period end was $68.6M, down from $101.8M at year-end 2024.

Outlook and guidance

  • Mackerel and herring markets remain strong, with high demand and stable prices; reduced quotas in Peru and for mackerel expected to support prices.

  • New laws on fishing fees and significant increases in carbon taxes introduce uncertainty for 2026.

  • Pelagic quota recommendations for 2026 indicate a 70% reduction in mackerel and 41% in blue whiting, but increases for Norwegian-Icelandic and Icelandic herring.

  • From January 1, 2026, the functional and reporting currency will change from USD to EUR, reflecting increased euro-based operations.

Quantify 2026 fishing fee impact
How will EUR currency change affect reporting?
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Frequently asked questions

Síldarvinnslan hf. is a leading Icelandic company engaged in the fishing and fish processing industry. The company focuses on the harvesting and processing of pelagic species, including herring and mackerel, and operates advanced facilities for producing fishmeal and fish oil. It also engages in whitefish processing and operates specialized port facilities. Síldarvinnslan's operations span multiple locations in Iceland, as well as in the United States and Greenland. The company’s fleet includes vessels for pelagic fishing and trawlers equipped for freezing and ice preservation. Additionally, it is involved in fish farming, particularly salmon and catfish breeding. The company is headquartered in Fjardabyggd, Iceland, and its shares are listed on the Nasdaq Iceland.

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