Sýn (SYN) Q1 2026 earnings summary

Executive summary

• Core business revenue grew 11.7% year-over-year, driven by internet, mobile, media, and advertising sales.

• Total revenue reached ISK 5,461 million, up 3.6% year-over-year; adjusted for Sendafélagið, growth was 6.5%.

• EBITDAAL increased 44.9% year-over-year to ISK 842 million, reflecting improved operational efficiency.

• Net loss after tax narrowed to ISK 291 million from ISK 344 million year-over-year.

• Cash flow from operations rose to ISK 1,056 million, up ISK 206 million year-over-year.

Financial highlights

• EBITDA rose 26.6% year-over-year to ISK 1,124 million.

• EBIT loss improved to ISK 79 million from ISK 141 million year-over-year.

• Investments increased by ISK 358 million to ISK 837 million, mainly due to English Premier League rights.

• Net interest-bearing debt (excluding leases) decreased by over ISK 1 billion during the quarter.

• Equity ratio at quarter-end was 26.1%.

Outlook and guidance

• Management reaffirmed 2026 guidance: EBITDAAL ISK 4.2–4.4 billion, investments ISK 3.2–3.4 billion, and EBITDAAL minus investments ISK 800–1,200 million.