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Ísfélag (ISF) investor relations material
Ísfélag Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved profitability in H1 2026, with revenue rising to $118.6 million from $75.7 million year-over-year, driven by a strong capelin season, robust trawler catches, and high product prices.
Net profit for H1 2026 was $27.5 million, a turnaround from a $9.7 million loss in H1 2025.
The company remains financially strong, with an equity ratio of 65.8% and total assets of $873.1 million as of June 30, 2026.
Major investments in operating assets and vessel sales are expected to enhance future operations.
Sale of the vessel Jón á Hofi was completed in January 2026, with further vessel sales planned.
Financial highlights
Operating revenue for Q2 2026 was $45.3 million, up from $38.4 million in Q2 2025; H1 2026 revenue reached $118.6 million, up from $75.7 million year-over-year.
Net profit for Q2 2026 was $4.7 million, compared to a loss of $6.1 million in Q2 2025; H1 2026 net profit was $27.5 million, versus a loss of $9.7 million in H1 2025.
EBITDA for H1 2026 was $45.8 million (38.7% margin), up from $17.7 million in H1 2025.
Gross margin improved to $41.4 million from $9.8 million year-over-year.
Equity at period end was $574.8 million, up from $567.0 million at year-end 2025.
Outlook and guidance
Product prices are expected to remain high, with positive expectations for the upcoming capelin season.
The company is well positioned for further investments and opportunities due to its strong financial position.
Vessel sales and recent investments are expected to improve operational efficiency.
Mackerel season started late due to quota reductions; international agreements will significantly impact summer fishing activities.
- Q1 2026 saw record profit and EBITDA, but faces headwinds from inflation and quota cuts.ISF
Q1 2026 - Revenue and profit rose sharply in 2025, but quota and regulatory risks persist.ISF
Q4 2025 - Revenue up 25% to $150.4m, net profit down, investments and regulatory risks ahead.ISF
Q3 2025 - Net loss despite higher revenue, with major investments, refinancing, and ongoing risks.ISF
Q2 2025 - Revenue and profit fell, but investments and operational changes support future growth.ISF
Q3 2024 - Revenue and profit fell in H1 2024, but financial strength and investments remain robust.ISF
Q2 2024 - Profit dropped over 58% as weak pelagic catches and rising costs pressured results.ISF
Q4 2024 - Q1 2025 loss deepened on flat revenue, low catch, and higher costs despite major refinancing.ISF
Q1 2025
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