Hagar Hf. · OMXICE:HAGA
Hagar Hf — Q3 2025/26 Earnings Presentation
35 slides from Hagar Hf's earnings presentation, Jan 16, 2026
Slide 1: Investor Presentation Q3 2025/26
Investor Presentation Q3 2025/26 Strong operations and guidance raised - business development supports growth Finnur Oddsson, CEO Guðrún Eva Gunnarsdóttir, CFO 16 January, 2026 *This presentation is translated from the Icelandic version which was published on January 16, 2026. Should there be discre
Slide 2: Overview
Overview Operational Overview Business Updates Financial Statements Status and Outlook 2
Slide 3: Quarter at a Glance: Key Figures
Quarter at a Glance: Key Figures Q3 2025/26 (changes from Q3 2024/25*) 49.1 b.ISK 4.6 b.ISK 1.7b.ISK sales EBITDA profit 12.4% 25.0% 21.6% 25.1% 16.4% 34.8% gross margin OPEX ratio equity ratio 2.5 pp 1.3 pp 0.5 pp * P/F SMS became part of Hagar Group in Q4 2024/25 and therefore the impact is not re
Slide 4: Operations: Key takeaways from the quarter
Operations: Key takeaways from the quarter Operations during Q3 were strong and exceeded management’s forecast - performance improved significantly from the previous year, with strong results across all business segments Customer visits to grocery stores in Iceland increased by 5% and the number
Slide 5: Operating segment #1: Continued revenue growth and improved profits
Operating segment #1: Continued revenue growth and improved profits Stores & Warehouses (Iceland) - Income Statement Q3 2025/26 (m.ISK) Revenue from „Stores & Warehouses (Iceland)“ Q3 '25/26 Q3 '24/25 Δ %Δ was ISK 33.9 billion. in Q3, up 7.5% YoY Revenue 33.916 31.544 2.372 +7,5% EBITDA amounted
Slide 6: Bónus: Strong revenue growth and increased customer visits
Bónus: Strong revenue growth and increased customer visits Sales in Q3 amounted to ISK 23.9 billion, an increase of 9% year-on-year - operating performance and profitability improved compared to the prior year Activity levels continued to increase, with customer numbers up just over 6% year- on-
Slide 7: Hagkaup: Improved profitability and launch of Wolt partnership
Hagkaup: Improved profitability and launch of Wolt partnership Sales in Q3 amounted to just under ISK 6.7 billion, an increase of just under 8% year-on-year - profitability improved at a higher rate year-on-year Customer visits and units sold increased during the quarter, and online sales contin
Slide 8: Operating segment #2: Strong operations - higher product & service sales
Operating segment #2: Strong operations - higher product & service sales Olís - Income Statement Q3 2025/26 (m.ISK) Revenue in Q3 amounted to just under ISK 12 billion Q3 '25/26 Q3 '24/25 Δ %Δ and declined by 6.5% - quarter performed well with Revenue 11.880 12.707 -827 -6,5% solid operating resul
Slide 9: Operating segment #3: New retail center in Runavík & a store in Tórshavn
Operating segment #3: New retail center in Runavík & a store in Tórshavn Stores & Warehouses (Faroe Islands) - Income Statement Q3 2025/26 (m.ISK) Revenue in Q3 amounted to ISK 3.8 billion - EBITDA Q3 '25/26 Q3 '24/25 Δ %Δ totaled ISK 478 million, or 12.5% of sales, and profit Revenue 3.821 0 3.82
Slide 10: Overview
Overview Operational Overview Business Updates Financial Statements Status and Outlook 10
Slide 11: General Overview: Selected operational highlights
General Overview: Selected operational highlights Christmas trading was strong Bónus the best brand? Christmas trading was generally Bónus was recently nominated good at Hagar and customer by “brandr” as one of the best traffic increased year-on-year Icelandic brands in 2025 Further discussion
Slide 12: General Overview: Selected operational highlights
General Overview: Selected operational highlights New retail center in Runavík Glans opens in Bæjarlind A new, about 3.000 m2, retail Glans recently opened in center, owned by SMS, opened Bæjarlind its 4th touch-free car in November wash - fifth station to be opened Shops by Bónus and Rumbul,
Slide 13: Takk: Takk loyalty program formally launched
Takk: Takk loyalty program formally launched As discussed at the Q2 presentation, Hagar, in collaboration with selected Group companies, has developed a new loyalty program The loyalty program, which is named Takk, has now been launched and will enable customers to enjoy comparable services to t
Slide 14: Takk: The loyalty program serves as a platform for further development
Takk: The loyalty program serves as a platform for further development Recap from the previous investor meeting: The loyalty program marks a major step forward for Hagar and its customers - creates many opportunities to better understand and serve customers, especially through: - Gain a detailed o
Slide 15: Takk: Reception exceeds expectations - over 16k members in two days
Takk: Reception exceeds expectations - over 16k members in two days The loyalty program went live on Wednesday, 14 January, and reception has been positive In the first two days, over 16 thousand people registered in the Takk loyalty program, or just over 4% of the population The app went stra
Slide 16: Get the app, become a loyalty member and start earning
… now it’s time to get the app, become a loyalty member and start earning tkr! 16
Slide 17: Hagar Media: Hagar establishes a new business unit “Hagar Miðlar”
Hagar Media: Hagar establishes a new business unit “Hagar Miðlar” One of Hagar’s key focus areas has been to continuously leverage internal assets even better - many successful steps have been taken in recent years Now Hagar has taken one of the most exciting steps toward this and established “H
Slide 18: Hagar Media: Interesting opportunity given scale and infrastructure
Hagar Media: Interesting opportunity given scale and infrastructure “Retail Media” has been experiencing significant growth globally because of how successful the medium is compared to traditional advertising channels Large international retail companies (e.g. Walmart and Matas) have achieved re
Slide 19: Hagar Media: Trials have confirmed the effectiveness and the opportunity
Hagar Media: Trials have confirmed the effectiveness and the opportunity In recent months, Hagar has added screens to all stores - over 70 new screens at Bónus and Hagkaup - continued build-out over the coming weeks Hagar Miðlar and the companies within the Group have continued to experiment wit
Slide 20: Overview
Overview Operational Overview Business Updates Financial Statements Status and Outlook 20
Slide 21: Strong operations with a significant improvement in profitability
Strong operations with a significant improvement in profitability Income Statement Q3 2025/26 (m.ISK) Q3 '25/26 Q3 '24/25 Δ %Δ Sales in Q3 was 49.1 b.ISK, increasing by 12.4% YoY - an increase of 3.8% excl. SMS Sales 49.068 43.659 5.409 +12,4% Gross profit amounted to 12.3 b.ISK, rising by Gross
Slide 22: Significant increase in profit, influenced by the impact of SMS
Significant increase in profit, influenced by the impact of SMS Income Statement 9M 2025/26 (m.ISK) 9M '25/26 9M '24/25 Δ %Δ Sales for 9M amounted to 149.0 b.ISK, an increase of 10.9% YoY - 2.6% growth excl. SMS Sales 149.000 134.305 14.695 +10,9% Sales growth for stores and warehouses in Gross
Slide 23: The impact of SMS is reflected in gross margin and cost ratios
The impact of SMS is reflected in gross margin and cost ratios Key operational metrics (9M 2021/22 – 9M 2025/26) Strong YoY sales growth, driven by Sales (m.ISK) Gross margin (%) the impact of SMS and solid growth in Sales and 149,0 24,7 Icelandic stores and warehouses - gross 121,8 130,5 134,3 21
Slide 24: Strong cash flow at the end of Q3 - net cash amounted to 6.1 b.ISK
Strong cash flow at the end of Q3 - net cash amounted to 6.1 b.ISK Cash Flow Statement 9M 2025/26 (m.ISK) 9M 2025/26 9M 2024/25 Change Cash from operating activity 1.449 Profit for the period 5.413 3.964 amounted to 12.4 b.ISK at the end of November, an increase of 4.2 b.ISK from 8.781 6.793 1.988
Slide 25: Lease assets and lease liabilities increase significantly
Lease assets and lease liabilities increase significantly Balance Sheet 30 November 2025 (m.ISK) Non-current assets amounted 89.2 30.11. 28.02. 30.11. 28.02. b.ISK, increasing by 7.4 b.ISK during the 2025 2025 %Δ 2025 2025 %Δ period - lease assets increased by 5.6 b.ISK, mainly due to a new lease
Slide 26: Equity ratio around 35% and in line with the board’s target
Equity ratio around 35% and in line with the board’s target Key financial metrics (9M 2021/22 – 9M 2025/26) Return on equity was 28.6% over the Return on equity (%) Equity ratio (%) past 12 months, showing a significant Share- 28,6 40,3 37,8 35,3 35,4 34,8 increase compared to last year - partly h
Slide 27: Overview
Overview Operational Overview Business Updates Financial Statements Status and Outlook 27
Slide 28: Share price and largest shareholders
Share price and largest shareholders Price Share price 30.11.2025: 113,0 ISK/share 120 100 80 60 40 1.7.2020 1.1.2021 1.7.2021 1.1.2022 1.7.2022 1.1.2023 1.7.2023 1.1.2024 1.7.2024 1.1.2025 1.7.2025 Date Largest shareholders, shares held at 30.11.2025 1. Gildi - lífeyrissjóður 16,5% 6. Birta lífeyri
Slide 29: Earnings per share continue to strengthen
Earnings per share continue to strengthen Accumulated basic earnings per share for the past 12 months (ISK per share) Earnings per share (EPS) 240% (286%**) 44% (63%**) continue to increase, amounting to ISK 6.84 for the 7,49 7,75 past 12 months, or ISK 7.75 per 6,75 0,91* 0,91 6,47 share when inc
Slide 30: Status and outlook
Status and outlook The Group’s operations are performing well across all areas and outlook is good, despite various uncertainty factors related to developments in economic conditions in Iceland and internationally All of Hagar’s main business units are performing well - increased activity in gro
Slide 31: Questions?
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Slide 32: Companies within the Hagar Group in Iceland
Companies within the Hagar Group in Iceland ASSOCIATES WITHIN THE GROUP Bónus is a chain of discount Hagkaup is a leading Olís specialises in the sale and Eldum rétt offers it’s customers stores that, from its founding, department store which service of fuel and other oil meal kits - available throu
Slide 33: Companies within the Hagar Group in Faroe Islands
Companies within the Hagar Group in Faroe Islands Bónus is a nationwide chain of Miklagarður is a hypermarket Mylnan is a combination of a SMS operates four restaurants affordable grocery stores in the offering a wide range of convenience store and a in the main shopping mall, i.e. Faroe Islands, kn
Slide 34: Disclaimer
Disclaimer On behalf of Hagar, attention is drawn to the fact that the statements and information in this presentation are based on, as appropriate, the plans and estimates of the company's directors, but not on facts that may be verified at the time of publication or by any discussion by the compan
Slide 35: .hagar
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