Festi (FESTI) Q3 2026 earnings summary

Executive summary

• Q3 sales rose 8.6% YoY, but results were below budget; margin from sales fell 1.3% and gross margin declined 2.3 p.p.

• Q3 EBITDA was ISK 4,988m, down 6.2%, and profit was ISK 2,309m, down 12.9%.

• 9M profit was ISK 3,827m versus ISK 4,349m in 9M 2025; comprehensive income was ISK 3,812m versus ISK 4,367m.

Financial highlights

• Q3 sales of goods and services were ISK 51.1bn, up 8.6% YoY; adjusted growth excluding FX, global fuel prices and fuel levies was 2.1%.

• Q3 margin from sales was ISK 11.9bn, down 1.3%; margin level was 23.3%, down 2.3 p.p. reported and 0.8 p.p. excluding FX, fuel prices and levies.

• 9M sales of goods and services were ISK 137,555m versus ISK 128,458m; total operating revenue was ISK 139,279m versus ISK 130,121m.

• 9M EBITDA was ISK 11,461m versus ISK 11,746m; EBIT was ISK 6,960m versus ISK 7,366m.

• Q3 operating cash flow was ISK 4.84bn, down 27.4% YoY; higher inventory and receivables accounted for ISK 1.5bn of the decline.

Outlook and guidance

• 2026 EBITDA guidance remained ISK 16,000–16,500m; capex guidance was ISK 7,500–8,000m.

• All business units except Lyfja were expected to improve Q4 earnings; Lyfja faced rising costs and regulated fixed medicine mark-ups last revised on 1 October 2023.

• Fuel margins were expected to remain under pressure in coming months; elevated inflation was expected to affect product costs and operating expenses through Q4.

• Priorities included core operations, cost discipline, and investment in infrastructure, technology and new services.