Icelandic Salmon As · OSL:ISLAX
Icelandic Salmon As — Q1 2026 Earnings Presentation
8 slides from Icelandic Salmon As's earnings presentation, May 2026
Slide 1: 1Q 2026 Quarterly Presentation
1Q 2026 QUARTERLY PRESENTATION
Slide 2: This is Icelandic Salmon
THIS IS ICELANDIC SALMON Icelandic Salmon AS is listed on the Euronext Growth market in Oslo, and Harvesting plant Four smolt facilities, NASDAQ First North in Reykjavik. in Bíldudalur Current capacity is The company is the sole owner and sufficient for 25-30 BRCGS* certified parent company of Arnar
Slide 3: Underlying performance improving
Underlying performance improving ▪ The financial result for first quarter was close to break-even, improving from a Harvest Operational EBIT EUR 3m loss in the same period last year (Thousand tonnes gw) (EUR/kg.) 0,70 4,0 ▪ Profitability was held back by lower price achievement and high cost on a la
Slide 4: Group balance
Group balance Assets Liabilities (EURm) (EURm) 278 273 153 153 130 127 25 26 128 128 ▪ Total assets decreased by EUR 5m to EUR 273m 148 147 ▪ Equity ratio decreased from 45% to 44% 31.12.2025 31.3.2026 31.12.2025 31.3.2026 ▪ Fair value adjustments of EUR -2.2m Fixed assets Current assets Current lia
Slide 5: Net interest-bearing debt
Net interest-bearing debt Change in NIBD incl. leasing - QoQ (EURm) +2.2 +0.6 130.6 129.0 -3.2 +2.2 -0.8 +0.5 11.9 12.4 ▪ NIBD inc. leasing increased by EUR 1.6m — NIBD increased by EUR 2.2m — Leasing decreased by EUR 0.6m 116.6 118.8 ▪ Positive operating profit in the quarter of EUR 3.2m, supported
Slide 6: Sales and market update
6 Sales and market update ▪ Weak market price, EUR 0.69/kg lower than Q1 2025, weighted by own volume ▪ Price achievement behind expectation due small sizes ▪ Share of volume to North America decreased from 15% in Q4 to 10% in Q1 – partly tariff driven, and also less 6+ kg fish available 89% ▪ Share
Slide 7: Outlook
Outlook ▪ Volume guidance 2026 unchanged at 21,300 tonnes ▪ Slight cost increase expected in Q2 2026 compared to Q1 2026, reflecting incident based increased mortality in parts of the biomass scheduled for harvest ▪ Expect better MAB utilization in 2026, with overall a positive cost effect ▪ Contrac
Slide 8: Thank you for your attention
Thank you for your attention Please “Raise hand” in Teams, or type in the chat, to ask questions for the Q&A session For more information, please visit www.arnarlax.is SUSTAINABILITY – IT’S IN OUR NATURE 8