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Skel fjárfestingafélag (SKEL) investor relations material
Skel fjárfestingafélag Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net asset value per share was ISK 22.4 at year-end 2025, with significant portfolio simplification and asset sales completed, including real estate and energy holdings.
Major restructuring and efficiency measures across portfolio companies, notably Drangar and Styrkás, have delivered substantial cost savings and improved profitability.
Key subsidiaries are being prepared for public listing, with Styrkás scheduled for IPO in Q2 2027 and Drangar undergoing operational turnaround.
Total return since November 2020 reached 178.9%, outperforming major indices.
Financial highlights
Net profit for 2025 was ISK 4,297 million, with total assets at ISK 57,895 million and equity at ISK 42,064 million.
Cash and government bonds at year-end 2025 totaled ISK 3,119 million.
Dividend proposal for 2025 is ISK 2,200 million.
Asset sales in 2025 and 2026 included real estate (over ISK 2 billion) and 49 apartments for ISK 4.2 billion.
Equity return since 2020 has averaged 22% annually.
Outlook and guidance
Continued focus on operational efficiency, asset sales, and preparing Drangar and Styrkás for public listing.
Drangar expects further cost reductions and margin improvements, with EBITDAAL projected at ISK 5.4 billion in 2026.
Styrkás targets EBIT of ISK 3.35–3.65 billion in 2026, with strong growth in infrastructure services.
Baridi’s copper processing plant in Tanzania is on track for commissioning in Q4 2026.
- Net loss of ISK 314 million in 1H 2024, strong equity ratio, and major portfolio changes.SKEL
Q2 20248 May 2026 - 2024 profit exceeded plans, assets grew 22%, and a 6,000m ISK dividend is proposed for 2025.SKEL
Q4 20248 May 2026 - Net loss widened, assets declined, and major retail consolidation and dividend payout occurred.SKEL
Q2 20258 May 2026 - Strong Q3 results, operational improvements, and active capital allocation across key segments.SKEL
Q3 20255 Jan 2026 - Styrkás and Orkan outperformed projections, while Heimkaup lagged and ESA launched an inquiry.SKEL
Q3 202425 Nov 2025 - Strong Q1 operating results offset by listed share losses and major capital allocation moves.SKEL
Q1 202525 Nov 2025
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