Síminn (SIMINN) Q1 2026 earnings summary

Executive summary

• Q1 2026 results aligned with expectations, with stable revenues and solid core operations despite higher operating costs from inflation and wage increases.

• Net profit for Q1 2026 was ISK 171 million, reversing a loss of ISK 188 million in Q1 2025.

• Total sales for Q1 2026 reached ISK 7,249 million, up from ISK 7,173 million year-over-year.

• Advertising and fintech segments showed continued growth, while telecom and TV revenues remained stable year-over-year.

• Announced acquisitions and corporate restructuring signal a strategic shift toward growth and synergy realization.

Financial highlights

• Total revenues reached ISK 7,249m, up 1.1% year-over-year; core segment revenues stable.

• Adjusted EBITDA was ISK 1,439m, up 7.1% YoY; EBITDA for Q1 2026 was ISK 1,362m, up from ISK 1,272m in Q1 2025.

• Adjusted EBIT was ISK 528m, down 22% YoY; operating profit (EBIT) was ISK 416m, compared to ISK 189m in Q1 2025.

• Net profit before tax was ISK 236m, reversing a loss of ISK 132m in Q1 2025.

• Cash flow from operations was strong at ISK 1.3bn; cash position at quarter-end was ISK 4.1bn.

Outlook and guidance

• 2026 guidance unchanged: EBITDA ISK 6.8–7.2bn, EBIT ISK 3.2–3.6bn (excluding M&A amortization), investments ISK 3.4–3.7bn.

• Moderate growth expected in telecom and TV, strong growth in fintech, and positive outlook for advertising.

• Guidance does not include impact from announced acquisitions pending regulatory approval.

• Ongoing restructuring to transfer telecommunications and media operations into a new subsidiary, with the parent company to be named Ásar.