Ölgerðin Egill Skallagrímsson (OLGERD) Q3 2026 earnings summary

Executive summary

• Group sales increased by 7.3% in Q3 2025 year-over-year, with EBITDA up 8.6% and net profit after tax rising by 3 million ISK compared to the same quarter last year.

• For the first nine months of 2025, group sales rose 4.1% year-over-year, but EBITDA was slightly down by 30 million ISK and net profit after tax decreased by 8% compared to the prior year.

• Domestic operations delivered 7% higher EBITDA and 6% higher net profit after tax year-over-year for the nine-month period.

Financial highlights

• Q3 2025 EBITDA reached 1,260 million ISK, up 9% year-over-year; EBIT was 952 million ISK, up 9%.

• Net profit after tax for Q3 was 571 million ISK, a 1% increase year-over-year.

• For the first nine months, EBITDA was 3,842 million ISK (down 1% year-over-year), and net profit after tax was 1,825 million ISK (down 8%).

• Sales to alcohol stores grew 10% year-over-year in Q3, with supermarket sales up 12% and Horeca up 2%.

Outlook and guidance

• Full-year EBITDA guidance raised to 5,000–5,200 million ISK, reflecting the inclusion of Gæðabakstur and Kjarnavörur from December 2025, offset by weaker outlook for Iceland Spring.

• Iceland Spring's annual EBITDA is expected to be 300 million ISK below initial forecasts due to direct and indirect impacts of US tariffs.

• Cost reductions and market focus planned for Collab exports in 2026, with expansion to one new market.