Brim (BRIM) Q3 2025 earnings summary

Executive summary

• Third quarter saw strong pelagic catches, especially mackerel, with good processing performance and rising prices for frozen mackerel products.

• Revenue for the nine months ended September 30, 2025, was €295.2 million, up from €284 million year-over-year.

• Net profit for the period reached €40 million, compared to €24 million for the same period last year.

• EBITDA and net profit improved significantly both in the quarter and year-to-date compared to 2024.

• A significant acquisition was announced: a €173 million offer for all shares in Lýsi hf., pending regulatory and shareholder approval.

Financial highlights

• Q3 2025 revenue was €111.4m, up from €110.0m in Q3 2024.

• EBITDA for Q3 2025 reached €41.6m (37.3% margin), up from €26.0m (23.7%) in Q3 2024.

• Net profit for Q3 2025 was €28.9m, up from €19.0m in Q3 2024.

• For the first nine months, EBITDA was €68.6m, up from €47.1m year-over-year.

• Total assets at September 30, 2025, were €983 million.

Outlook and guidance

• Strong demand and good prices for both frozen and fresh products are expected to continue.

• Product prices for sea-frozen cod and haddock remain strong and stable.

• Anticipated quota reductions for mackerel and blue whiting in 2026 and higher fishing fees may impact future results.