Brim (BRIM) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 was €184 million, up from €174 million year-over-year, but Q2 2025 revenue was €82.4m, down from €108.8m in Q2 2023.

• Net profit for H1 2025 reached €11 million, compared to €6 million last year, while Q2 2025 net profit was €3.2m versus €10.4m in Q2 2023.

• EBITDA for H1 2025 was €27.0m, up from €21.0m year-over-year, but Q2 2025 EBITDA was €9.0m, down from €16.2m in Q2 2023.

• Cost increases, currency effects, and quota changes impacted results, but product prices and demand remained strong.

• The board and management confirm the interim report provides a clear view of the group’s financial position as of June 30, 2025.

Financial highlights

• Gross profit for H1 2025 was €26.8m, up from €21.5m year-over-year, but Q2 2025 gross profit was €11.5m, down from €18.2m in Q2 2023.

• Operating profit for Q2 2025 was €6.7m, compared to €12.2m in Q2 2023.

• Earnings per share for H1 2025 were €0.0056, up from €0.0029 year-over-year.

• Total assets at June 30, 2025, were €951.1m, with equity of €476.6m.

• Cash flow from operations was €25.6m for H1 2025, compared to €24.2m last year.

Outlook and guidance

• Demand for products remains strong, but quotas for key demersal species are reduced for the coming year.

• Market conditions for fresh demersal products and mackerel remain strong, with high demand.

• Capelin fishing quotas were preserved for the latter half of the year due to low protein and oil content in early catches.