Bera (BERAHF) Q2 26/27 earnings summary

Executive summary

• H1 product sales rose 18% YoY and gross profit rose 31%; EBITDA reached ISK 3,677m and net profit ISK 1,817m.

• Performance benefited from Gæðabakstur and Kjarnavörur, acquired in Dec 2025; their combined H1 EBITDA was ISK 619m, with no contribution in the prior-year comparison period.

Financial highlights

• H1 product sales were ISK 29,071m vs ISK 24,609m; net sales after alcohol and deposit charges were ISK 22,221m vs ISK 18,054m.

• H1 gross profit was ISK 9,176m vs ISK 7,345m; EBIT was ISK 2,902m vs ISK 1,978m.

• H1 EBITDA was ISK 3,677m, up ISK 1,096m YoY; net profit was ISK 1,817m vs ISK 1,254m.

• Q2 EBITDA was ISK 2,452m vs ISK 1,611m; net profit was ISK 1,419m vs ISK 876m.

Outlook and guidance

• Planned Hólmsheiði warehouse and distribution center is ~23,000 sq m; operations are expected to start in ~3 years, subject to plans proceeding.

• Purchase of selected Karl K. Karlsson-Bakkus customer relationships and related inventory is expected to cost ISK 438m and generate ~ISK 100m annual EBITDA; pending competition authority approval.