Nova Klúbburinn (NOVA) Q3 2026 earnings summary

Executive summary

• Q3 revenue reached ISK 5,815m, up 66% YoY, including Ofar’s first full quarter; adjusted core revenue rose 4.9% to ISK 3,510m.

• Jan–Sep revenue was ISK 13,238m, EBITDA ISK 2,402m and net income ISK 425m; Ofar was consolidated from 1 June, affecting comparability.

Financial highlights

• Q3 EBITDA was ISK 1,051m, down 5% YoY, with an 18.1% margin; Ofar, Kosmos and Ligo contributed combined EBITDA of ISK 107m.

• Q3 EBIT rose 23% to ISK 637m and net income rose 24% to ISK 282m; Jan–Sep operating profit was ISK 1,207m versus ISK 1,369m.

• Jan–Sep EBITDA was ISK 2,402m versus ISK 3,152m, and net income was ISK 425m versus ISK 544m.

• Q3 basic EPS was ISK 0.082, up 28% YoY; Jan–Sep basic and diluted EPS were ISK 0.123 and ISK 0.121, respectively.

• Q3 net finance costs rose ISK 90m YoY to ISK 322m, mainly due to borrowing for the Ofar acquisition.

Outlook and guidance

• FY2026 revenue guidance is ISK 19.2–19.4bn, implying 45–47% growth versus 2025 adjusted for Sendafélagið changes; the lower bound rose by ISK 200m.

• FY2026 EBITDA guidance is ISK 3.5–3.6bn, implying 13–16% growth on the adjusted 2025 base of ISK 3.1bn.

• FY2026 investment guidance remains ~ISK 1.2bn, ~17% above adjusted 2025 investment of ISK 1.027bn.

• Kosmos and Ligo are expected to reach positive EBITDA in 2027; Ligo’s slower-than-planned build-out delays its positive contribution to 2026 results.