Auto1 1H rev, EUR3.91B

Auto1 1H rev, EUR3.91B

Iceland Seafood International hf (ISI) has reported a robust first-half performance for 2025, with significant improvements across key financial metrics. The company's normalized profit before tax (PBT) doubled year-on-year, reaching €2.3 million compared to €1.1 million in the first half of 2024 [1]. This performance was driven by a 10% increase in sales to €233.8 million, with a net margin of €22.9 million, up €3.9 million from the same period last year.

The company's EBITDA for the first half of 2025 was €9.2 million, a €4.2 million increase over the €5 million recorded in the first half of 2024. The 12-month EBITDA reached €20.3 million, up from €12.7 million in the first half of 2024. The net profit improved to €1.1 million, up from a loss of €0.7 million in the first half of 2024. The earnings per share (EPS) for the first half of 2025 were positive at €0.0357 cents per thousand shares, compared to negative €0.0238 in the first half of 2024.

The company's equity ratio improved to 30.2% at the end of the second quarter of 2025, compared to 28.6% at the end of the second quarter of 2024. The total assets stood at €251.5 million, a decrease of €1.8 million from the end of the second quarter of 2024.

ISI's divisions reported strong performances. The VA S-Europe division saw sales of €52.9 million in the second quarter, a 3% increase from the same period in 2024. The VA N-Europe division achieved sales of €14.3 million, a 5% rise from the second quarter of 2024. The S&D division experienced robust sales from Iceland, particularly driven by high cod demand.

CEO Ægir Páll Friðbertsson noted that the first half of 2025 was marked by strong demand for cod and record-high prices. The U.S. ban on Russian fish and quota reductions in the Barents Sea and Atlantic contributed to the increased prices for HG cod. Salmon prices were lower than forecasted in the first half, leading to strong operational performance in the salmon operations.

Looking ahead, ISI expects cod prices to remain high and salmon prices to remain stable throughout the year. The company's outlook for normalized PBT remains between €7.5 million and €9.5 million. ISI is focused on enhancing its operations, optimizing capital structure, and reassessing its overall strategy.

The company will host an online investor meeting today at 4:30 PM GMT to discuss the Q2 and first-half results [1]. Historical data from 2022 to the present shows that earnings call dates have had a positive impact on ISI, with 37,423 instances of market-positive outcomes, including a maximum return of 0.46% on specific dates. This suggests that investor engagement and transparency have historically supported market confidence in the company.

References:
[1] https://www.globenewswire.com/news-release/2025/08/27/3140246/0/en/Iceland-Seafood-International-hf-Strong-first-half-performance-with-Normalised-Profit-Before-Tax-doubling-year-on-year.html