Sýn (SYN) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 5.7% YoY, or 8.6% excluding Sendafélag; EBITDAaL increased 41.9% to 1,161 m.kr. and EBITDAaL less investments turned positive at 407 m.kr. from -181 m.kr.

• 9M revenue increased 4.0% to 16,549 m.kr.; EBITDAaL rose 41.9% to 2,998 m.kr. and EBITDAaL less investments reached 717 m.kr. versus 11 m.kr.

Financial highlights

• Q3 net loss after tax narrowed to 70 m.kr. from 238 m.kr.; 9M net loss narrowed to 576 m.kr. from 757 m.kr.

• 9M operating costs declined 1.3% YoY; payroll costs fell 4.3%, while EBITDA increased 26.4% to 3,860 m.kr.

• Q3 one-time costs were 101 m.kr.; after accounting for one-time items in both periods, EBITDAaL less investments improved 540 m.kr. YoY.

Outlook and guidance

• FY2026 EBITDAaL less investments guidance tightened to 0.9–1.1 bn.kr. from 0.8–1.2 bn.kr.; investment guidance narrowed to 3.1–3.2 bn.kr. from 3.2–3.4 bn.kr.

• TV news closure is expected to reduce FY2026 results by 106 m.kr.; associated savings are expected to be fully reflected in 2027.