Iceland Seafood International Hf · OMXICE:ICESEA
Iceland Seafood International Hf — Iceland Seafood International — Q1 2026 Earnings Presentation
14 slides from Iceland Seafood International Hf's earnings presentation, May 27, 2026
Slide 1: Q1 2026 Results Presentation to Investors and Analysts
Q1 2026 RESULTS PRESENTATION TO INVESTORS AND ANALYSTS Iceland Seafood International 27.05.2026
Slide 2: Iceland Seafood International 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: Cod prices remained at historically high levels in Q1 2026 while salmon prices were lower than forecasted
Cod prices remained at historically high levels in Q1 2026 while salmon prices were lower than forecasted • Cod prices have been historically follow similar pattern as 2025. Salmon prices lower than expected in Q1 2026 high due to quota cuts in the Barents 12 2021 2023 2024 2025 2026 2026 - Forward
Slide 4: Food inflation is slightly up in the US, down in the UK and stable in the EU
Food inflation is slightly up in the US, down in the UK and stable in the EU, while interest rates are under pressure after being stable for a while Eurozone 2.15% Federal Reserve 3.75% UK 3.75% Iceland 7.75% • Food inflation is slightly up in the US, down in the UK and stable in the EU compared to
Slide 5: Financial performance
Financial performance Q1 2026 RESULTS PRESENTATION TO INVESTORS AND ANALYSTS
Slide 6: 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 Q1 2026 Sales in Q1, 7% up vs Q1 25 Normalized PBT of €3.0m, up €0.7m Sales 61.1 • Ibérica Group sales increased by 6% in value while on 3M 2025 volume decreased by 0,6% compared to Q1 25. • IS Ibérica Spain had a s
Slide 7: 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 Q1 2026 Sales in 2026 are 12% up from last Normalised PBT €0.4m more or Sales 16.1 year less on par with 3M 2025 • Sales in Ireland were 12% ahead of the same • The Irish operation posted an NPBT of Net margin 1.8 period
Slide 8: Sales & distribution: Q1 performance supported by high white fish prices
> Sales & distribution Q1 performance supported by high white fish prices and strong sales in capelin and herring €m's Q1 2026 Sales in 2026 are 41% ahead of NPBT of €1.1m, down (€0.1m) from Sales 72.2 last year Q1 2025 • Strong sales performance this quarter driven by • Solid operational results, s
Slide 9: Continued financial and operational progress in Q1 2026
Continued financial and operational progress in Q1 2026 €m's Q1 2026 Group sales in 2026 up 22% on Sales 146.0 2025 – March an all-time sales Normalised PBT of €3.3m was up Net margin 13.1 record for the group €1.0m from 2025 EBITDA 5.7 • Continued strong Cod demand due to lower • EBITDA has improve
Slide 10: Condensed consolidated statement of financial position
Condensed consolidated statement of financial position at 31 March 2026 €m's 31.03.26 €m's 31.03.26 Fixed assets / Inv. property 38.9 Total Equity 84.8 Leased assets 2.2 Thereof minority interest 2.5 Intangible assets 61.5 Long-term borrowings 35.3 Fin. Lease rec./Def. tax/other 2.3 Lease liabilitie
Slide 11: Outlook
Outlook Q1 2026 RESULTS PRESENTATION TO INVESTORS AND ANALYSTS
Slide 12: 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 and interest rates are expected to Group results are influenced by various external factors such as: elevated due to quota reductions and remain broadly unchanged, with a the U.S. ban on Russian fish,
Slide 13: 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 14: www.icelandseafood.com
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Iceland Seafood International — Q1 2026 Earnings Presentation on 6ix