Hagar (HAGA) Q2 2026 earnings summary

Executive summary

• Q2 2025/26 saw strong operational and financial performance, with sales up 11.2% YoY to 51.8b ISK and profit up 48.3% to 2.6b ISK.

• Profit for the period from 1 March to 31 August 2025 was ISK 3,721 million, up from ISK 2,573 million year-over-year.

• EBITDA for the period reached ISK 9,531 million, a 32% increase from ISK 7,228 million in the prior year.

• All main business units outperformed expectations, especially Olís and SMS, leading to raised EBITDA guidance for the year.

• The acquisition of SMS in the Faroe Islands contributed significantly to growth and is not included in last year's comparatives.

Financial highlights

• Sales for the first half were ISK 99,932 million, up from ISK 90,646 million year-over-year.

• EBITDA rose 36.6% YoY to 5.5b ISK; gross margin improved by 3.0pp to 24.8%.

• Gross profit increased by 24% to ISK 24,493 million, with a gross margin of 24.8%.

• EBIT for the period was ISK 6,232 million, up from ISK 4,616 million.

• Basic earnings per share for the half-year were ISK 3.39, compared to ISK 2.37 last year.

Outlook and guidance

• EBITDA guidance for FY raised by 1b ISK to 17.0–17.5b ISK.

• Management expects continued strong performance despite external uncertainties, with further efficiencies targeted in the Faroe Islands.

• The financial position is strong, with secured financing and access to ISK 3.0 billion in credit lines.

• Continued utilization of market financing is expected in coming quarters.