Nova Klúbburinn (NOVA) Q2 2026 earnings summary

Executive summary

• Transitioned from a telecom operator to a technology-driven club structure, integrating specialized subsidiaries and completing major structural changes, including the sale of the 4G/5G network and the acquisition of Ofar ehf.

• Strong operational cash flow of 1,260 m.kr. in H1 2026, supporting disciplined growth and efficiency initiatives.

• Ofar consolidated from June 1, contributing significant revenue and EBITDA growth; Kosmos launched as a low-cost 5G challenger in May 2026.

• Strategic transformation underway, with integration of new businesses, cost optimization, and ongoing share buyback program up to ISK 550 million.

• Net profit for H1 2026 was ISK 143 million, compared to ISK 317 million for the same period last year.

Financial highlights

• Consolidated Q2 revenue up 22% year-over-year to 4,192 m.kr.; H1 revenue up 10% to 7,423 m.kr.

• EBITDA for Q2 at 702 m.kr., down 33% year-over-year due to higher costs and changes in group structure; H1 EBITDA at ISK 1,351 million, down from ISK 2,043 million.

• Net profit for Q2 at 149 m.kr., a 55% decrease year-over-year; H1 net profit margin fell to 1.9% from 4.7%.

• Operating cash flow for Q2 at 1,029 m.kr.; H1 operating cash flow at 2,169 m.kr.

• Dividend of ISK 348 million paid in April 2026.

Outlook and guidance

• Full-year 2026 revenue guidance raised to 19.0–19.4 bn ISK, reflecting 44–47% growth over 2025.

• EBITDA expected at 3.6–3.8 bn ISK, up 16–23% year-over-year.

• Investments projected at ~1.2 bn ISK, a 17% increase from 2025.

• Integration of Ofar ehf. expected to strengthen service and technology offerings; guidance incorporates Ofar consolidation and changes in Sendafélagið reporting.

• New IoT joint venture in progress, with agreements expected in coming weeks.