Brim (BRIM) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 reached €121.3m, up from €101.4m in Q1 2025, reflecting strong product demand and higher sales volumes.

• EBITDA increased to €34.2m (28.2% margin), compared to €14.9m (14.7%) in Q1 2025, driven by improved operational efficiency and favorable market conditions.

• Net profit for Q1 2026 was €23.9m, a significant rise from €7.6m in Q1 2025.

• Equity at period end stood at €519.0m.

• Product prices continued to strengthen during the period.

Financial highlights

• Gross profit for Q1 2026 was €33.9m, up from €15.2m in Q1 2025.

• Operating profit rose to €29.1m from €10.1m year-over-year.

• Cash and cash equivalents at quarter-end were €74.1m.

• Dividend of €28.2m (2.1 ISK per share) was declared and recorded as a liability.

• Total assets at March 31, 2026, were €1,008.5m, up from €997.7m at year-end 2025.

Outlook and guidance

• Continued strong demand for products, especially sea-frozen cod, haddock, and saithe, with favorable pricing.

• Product prices are expected to remain strong.

• High product demand and good product prices expected to persist.

• Market conditions remain positive, but subject to natural resource variability and regulatory changes.

• Ongoing due diligence for the acquisition of Lýsis hf., with completion subject to regulatory and shareholder approvals.