Brim (BRIM) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 was €241 million, up from €184 million in H1 2025, with Q2 2026 revenue at €119.3m, up from €82.4m in Q2 2025.

• EBITDA for H1 2026 reached €59.7m (24.8% margin), up from €27.0m in H1 2025, and Q2 2026 EBITDA was €25.5m (21.4% margin).

• Net profit for H1 2026 was €43m, up from €11m in H1 2025, with Q2 2026 net profit at €18.7m, compared to €3.2m in Q2 2025.

• The acquisition of Lýsi and the sale of Polar Seafood Denmark were major strategic moves, impacting assets and equity.

• Equity at period end was €482m, down €55m due to share buybacks for the Lýsi acquisition.

Financial highlights

• Gross profit for H1 2026 was €59.2m, up from €26.8m in H1 2025; Q2 2026 gross profit was €36.9m, up from €11.5m in Q2 2025.

• Earnings per share for H1 2026 were €0.0232, up from €0.0056 year-over-year.

• Cash flow from operations was €50.3m, up from €25.6m in H1 2025.

• Total assets as of June 30, 2026, were €956m.

• Cash and cash equivalents at June 30, 2026, were €49.6m.

Outlook and guidance

• Positive outlook for pelagic products, with strong demand and favorable prices, especially for cod and saithe.

• Reduced quotas for mackerel in 2026 may impact future volumes, but new opportunities from Lýsi acquisition are expected.

• Management notes ongoing regulatory uncertainty in fisheries management and fees.