Iceland Seafood International Hf · OMXICE:ICESEA
Iceland Seafood International Hf — 1H 2026 Earnings Presentation
15 slides from Iceland Seafood International Hf's earnings presentation, Aug 26, 2026
Slide 1: 1H 2026 Results Presentation to Investors and Analysts
1H 2026 RESULTS PRESENTATION TO INVESTORS AND ANALYSTS Iceland Seafood International 26.08.2026
Slide 2: Key numbers
Iceland Seafood International IS Iceland Key numbers €484,3 m 10 Revenues in 2025 Businesses 10 6 Businesses 45 Oceanpath Countries we trade in Value-added factories IS Germany 66.125 MT 1.0+ m IS France Of products sold Meals sold every day IS Ibérica 794+ 5000+ Employees 2025 Customers Thorpesca A
Slide 3: Historically high cod prices, while salmon prices have remained stable
Historically high cod prices, while salmon prices have remained stable • Cod prices have been historically indicate a significant change from Salmon prices lower than expected in Q2 2026 high due to quota cuts in the Barents the pricing environment experienced Sea and the Atlantic Ocean, and last ye
Slide 4: Total supply 2026: cod supply & prices
TOTAL SUPPLY 2026 Cod supply & prices 640.000 tn Supply of Atlantic cod (2015-2026) ‘000MT Norway Russia EU Iceland UK Faroes / Greenland / Canada / USA 1,400 1,20 0 2024 2025 2026 810 1,00 719 800 640 0 600 Norway 208 173 131 400 Russia 222 151 119 200 0 2015 2016 2017 2018 2019 2020 2021 2022 2023
Slide 5: Food inflation is decreasing in key markets, while interest rates have increased in the Eurozone
Food inflation is decreasing in key markets, while interest rates have increased in the Eurozone and are stable in other markets. Eurozone 2.4% Federal Reserve 3.75% UK 3.75% Iceland 8.00% • Food inflation has been decreasing in all markets compared to the last few months. Inflation, on the other ha
Slide 6: Financial performance
Financial performance 1H 2026 RESULTS PRESENTATION TO INVESTORS AND ANALYSTS
Slide 7: VA S-Europe: Increased sales and an improved NPBT compared with the prior year
> VA S-Europe Increased sales and an improved NPBT compared with the prior year €m's Q2 26 Q2 25 1H 26 1H 25 Sales in 1H, 4% up vs 1H 25 Normalized PBT of €2.9m, 53 • Ibérica Group sales increased by 8% in value up €0.7m on 1H 2025 Sales 52.9 114.1 110.0 while volume decreased by 10,3% compared • IS
Slide 8: VA N-Europe: Good start of the year with an increase in value and volume
> VA N-Europe Good start of the year with an increase in value and volume €m's Q2 26 Q2 25 1H 26 1H 25 Sales in 2026 are 14% up from last Normalised PBT €0.5m more or Sales 16.5 14.3 32.6 28.6 year less on par with 1H 2025 • Sales in Ireland were 14% ahead of the same • In spite of higher sales both
Slide 9: Sales & distribution
> Sales & distribution 1H performance supported by high white fish prices and strong sales in capelin and herring €m's Q2 26 Q2 25 1H 26 1H 25 Sales in 2026 are 31% ahead of NPBT of €1.4m, down (€0.7m) from Sales 61.9 51.1 134.1 102.2 last year 1H 2025 Net margin 1.8 2.1 4.3 4.5 • Strong sales perfo
Slide 10: Continued Operational and Financial Progress in 1H 2026
Continued Operational and Financial Progress in 1H 2026. 1H 2026 sales up 16.8% and Normalised PBT of €2.9m was up €m's Q2 26 Q2 25 1H 26 1H 25 volumes up 12.6% vs. 1H 2025 €0.6m from 2025 Overall, a strong performance across the group. • EBITDA has decreased by €0.9m and Net Continued strong demand
Slide 11: Condensed consolidated statement of financial position
Condensed consolidated statement of financial position at 30 June 2026 €m's 30.06.26 €m's 30.06.26 Fixed assets / Inv. property 40.9 Total Equity 84.9 Leased assets 2.2 Thereof minority interest 2.3 Intangible assets 61.5 Fin. Lease rec./Def. tax/other 2.2 Long-term borrowings 36.8 Non-Current Asset
Slide 12: Outlook
Outlook 1H 2026 RESULTS PRESENTATION TO INVESTORS AND ANALYSTS
Slide 13: The outlook for 2026 is Profit before taxes €11.5-13.5 million
The outlook for 2026 is Profit before taxes €11.5-13.5 million. • Cod prices are expected to remain cuts are not currently anticipated, Group results are influenced by various external factors such as: elevated due to quota reductions and and interest rates are expected to the U.S. and EU ban on Rus
Slide 14: Forward looking statements
Forward looking statements Disclaimer This presentation is furnished and intended for European market participants and should be viewed in that manner. Any potential forward looking statements contained in this presentation are reflective of management's current views on future events and performanc
Slide 15: www.icelandseafood.com
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Iceland Seafood International hf. — 1H 2026 Earnings Presentation on 6ix