Síminn (SIMINN) Q2 2026 earnings summary

Executive summary

• Revenues grew 2.2% year-over-year in Q2 2026, with telecom revenues up 1.3% and advertising revenues up 16.7%, supported by municipal elections.

• Net profit for the first six months of 2026 was ISK 440 million, up from ISK 349 million year-over-year.

• Major transformation milestones include a new organizational structure, with Ásar as parent, and the integration of Greiðslumiðlun Íslands (GMI) into the group.

• Persistent cost pressures impacted profitability, but efficiency measures and organizational changes are expected to yield savings in the second half.

• Strong cash flow from core operations and a robust balance sheet support ongoing growth and flexibility.

Financial highlights

• Q2 2026 EBITDA was ISK 1,599m, down 16.9% year-over-year; EBIT was ISK 655m, down 31.6%.

• EBITDA for H1 2026 was ISK 2,961 million, down from ISK 3,196 million year-over-year.

• Total Q2 revenues reached ISK 7,356m, up 2.2% year-over-year; H1 2026 revenue was ISK 14,605 million.

• Net profit for Q2 was ISK 269m, down 49.9% year-over-year; EPS was ISK 0.12. Basic and diluted EPS for H1 2026 were ISK 0.19, up from ISK 0.14 in 2025.

• Cash flow from operations in H1 2026 was ISK 2.4bn; cash and cash equivalents at quarter-end were ISK 2.1bn.

Outlook and guidance

• Full-year EBITDA outlook raised to ISK 7.0–7.4bn (previously 6.8–7.2bn) following GMI inclusion.

• EBIT guidance increased to ISK 3.3–3.7bn; investment guidance lowered by ISK 200m to ISK 3.2–3.4bn.

• GMI expected to contribute ISK 500m to annualized EBITDA; no synergies included in outlook.

• The company continues to pursue acquisitions and restructuring to support growth.

• Cost pressures from wage increases and inflation to be addressed through operational measures in H2.