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Sýn (SYN) investor relations material
Sýn Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue for H1 2025 was ISK 10,577 million, with a net loss of ISK 518 million compared to a loss of ISK 339 million in H1 2024.
Q2 2025 revenue increased by 1.4% year-over-year to ISK 5,357 million, with growth in media, internet, and mobile services by 3.4%.
Core business segments showed revenue growth from telecom and TV subscriptions, but overall revenue declined due to lower IoT and advertising sales.
Major brand consolidation in June 2025 merged Vodafone, Stöð 2, and related brands under Sýn.
Subsidiary mergers and a planned network asset transfer to Sendafélagið are expected to improve efficiency and reduce debt.
Financial highlights
EBITDAAL for H1 2025 was ISK 1,297 million, down 12.6% from H1 2024; EBITDA for H1 2025 was ISK 1,927 million, down from ISK 2,115 million.
EBIT for H1 2025 was negative ISK 74 million, compared to positive ISK 110 million last year.
Free cash flow for H1 2025 was ISK 838 million, a significant improvement from negative ISK 415 million in H1 2024.
Investments in H1 2025 totaled ISK 1,103 million, significantly lower than ISK 2,108 million in H1 2024.
Net interest-bearing debt (excluding lease liabilities) was ISK 6,216 million at June 30, 2025.
Outlook and guidance
Updated 2025 guidance expects EBITDAAL of ISK 4.0–4.2 billion and investments of ISK 3.3–3.5 billion.
Ongoing growth in core telecom and media subscriptions is expected to support future revenue.
The planned sale of mobile network assets is projected to reduce annual investments by ISK 200 million and debt by ISK 960 million.
Second half expected to see full impact of rebranding and English Premier League rights.
Uncertainty remains regarding inflation, interest rates, and regulatory decisions.
Next Sýn earnings date

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