Eik fasteignafélag (EIK) investor relations material

Executive summary

• Revenue declined 4.8% year-over-year to EUR 191.7m, mainly due to lower global freight rates, while another entity reported robust revenue growth in Q1 2026.

• EBITDA dropped 39.2% to EUR 9.3m in one case, while another reported a 21.4% increase to ISK 2,206 million.

• Net earnings were negative at EUR -4.7m in one report, while another showed total profit of ISK 977 million, down from ISK 1,366 million.

• Streamlining and cost mitigation initiatives yielded EUR 3.2m in savings, with a EUR 2.7m EBITDA impact.

• Cash flow from operations rose to ISK 1,474 million in one case, while another reported EUR 2.9m.

Financial highlights

• Expenses decreased by 1.9% year-over-year in one report, while another highlighted positive fair value adjustments of ISK 2,669 million.

• Salaries increased by 0.4% year-over-year, despite a 4% collective wage increase in Iceland.

• Depreciation was EUR 2.2m lower due to fewer vessels in operation.

• Affiliates contributed EUR 3.3m, up EUR 0.8m from last year.

• Cash and cash equivalents stood at EUR 24.1m and ISK 3,472 million at quarter-end in respective reports.

Outlook and guidance

• Import into Iceland expected to remain stable, with strong seafood exports and ramp-up at Nordurál supporting gradual volume increases.

• Dividend of ISK 3,732.7 million for 2025 approved, to be paid in two installments in 2026.

• Four bond offerings planned for the remainder of 2026; sufficient funding secured for upcoming maturities.

• Trans-Atlantic volumes anticipated to be lower than last year due to geopolitical uncertainty.

• Forwarding volumes presumed higher year-over-year, but freight rates to remain volatile.