Ölgerðin Egill Skallagrímsson (OLGERD) Q1 2026 earnings summary

Executive summary

• Quarterly results in line with expectations; full-year EBITDA guidance remains at 4,800–5,200 million ISK.

• Group product sales increased by 3.3% year-over-year for the quarter.

• EBITDA for the quarter was 970 million ISK, down 8% year-over-year; net profit after tax was 379 million ISK, down 21%.

Financial highlights

• Product sales reached 11,609 million ISK, up 3% from Q1 2024.

• Gross margin increased by 3% year-over-year.

• Operating expenses rose: wages up 11%, sales/marketing up 2%, other costs up 9%.

• EBIT was 670 million ISK, down 14% year-over-year.

• Net profit after tax was 379 million ISK, a decrease of 103 million ISK from last year.

Outlook and guidance

• Full-year EBITDA guidance unchanged at 4,800–5,200 million ISK.

• Product sales in June up over 10% year-over-year, in line with management expectations.