Festi (FESTI) Q4 2025 earnings summary

Executive summary

• Q4 2025 saw strong operational performance, with results exceeding management expectations and continued growth momentum across all business units.

• Sale of goods and services rose 7.2% YoY to ISK 45.0 bn, with margin from sales up 11.2% YoY.

• EBITDA increased 43.9% YoY to ISK 4.3 bn, or 14.8% excluding a prior year administrative fine.

• Net cash from operating activities was ISK 1.5 bn, up 86.3% YoY.

• Full-year profit for 2025 was ISK 6.2 bn, up 54.8% YoY.

Financial highlights

• Q4 margin from sales reached ISK 11.4 bn (25.4%), up 0.9 p.p. YoY.

• Salaries and personnel expenses increased 6.9% YoY to ISK 5.6 bn; FTEs up 3.8%.

• Other operating expenses decreased 17.6% YoY.

• Q4 profit was ISK 1.9 bn, down ISK 1.1 bn YoY due to a high base effect.

• Full-year EBITDA was ISK 16.0 bn, up 27.9% YoY; margin from sales for the year was 25.2%, up 1.4 p.p.

Outlook and guidance

• Positive outlook for 2026 despite economic uncertainty and inflation; focus remains on efficiency and optimisation.

• EBITDA guidance for 2026: ISK 16,500–17,000 million; CAPEX: ISK 6,500–7,000 million.

• Assumptions include 4% inflation, minimal supply chain impact from geopolitical conflicts, and stable central bank rates.