Eik fasteignafélag (EIK) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue rose 19.8% YoY and EBITDA increased 24.9% to ISK 7,284m; excluding non-recurring 2025 items, EBITDA growth was 22.7%.

• 9M profit declined 13.1% to ISK 3,307m, mainly reflecting higher net finance costs.

• Portfolio acquisitions and disposals are estimated to increase annualised EBITDA by ISK 260m.

Financial highlights

• 9M operating revenue was ISK 11,132m versus ISK 9,296m; rental income rose 21.8% to ISK 9,718m from ISK 7,980m.

• Operating expenses increased 11.1% to ISK 3,848m; EBITDA rose to ISK 7,284m from ISK 5,833m.

• Net finance expense increased to ISK 8,908m from ISK 5,389m; 9M profit was ISK 3,307m versus ISK 3,804m.

• 9M investment-property fair-value gains were ISK 6,121m versus ISK 4,412m; property-sale gains were ISK 125m versus ISK 42m.

• Net cash from operating activities rose to ISK 4,238m from ISK 3,791m.

Outlook and guidance

• FY 2026 EBITDA guidance is ISK 9,450–9,640m, reflecting portfolio changes and October CPI for December indexation.

• The 2027 bond issuance plan is expected before year-end, with further issuance focused on longer maturities.