Síminn hf. - Results for the second quarter of 2025

Síminn hf. - Results for the second quarter of 2025

Benzinga
August 19, 2025

Financial highlights Q2 2025

Revenues in Q2 2025 amounted to ISK 7,196 million, up from ISK 6,871 million Q2 2024, an increase of 4.7%. Revenue from mobile, data transmission, and television services grew by 2.5% year-on-year. Advertising revenues amounted to ISK 604 million compared with ISK 535 million in the same period last year, an increase of 12.9%.

EBITDA amounted to ISK 1,924 million in Q2 2025, up by ISK 198 million or 11.5% from Q2 2024. EBITDA margin improved to 26.7% from 25.1% in the prior year. EBIT rose to ISK 931 million, a 46.4% increase from ISK 636 million in Q2 2024.

Net financial expenses were ISK 257 million, compared with ISK 320 million in Q2 2024. Financial expenses were ISK 505 million, financial income ISK 238 million, and foreign exchange gains ISK 10 million.

Net profit in Q2 2025 was ISK 537 million, compared to ISK 244 million in Q2 2024, an increase of 120.1%. Earnings per share were ISK 0.22 in the quarter, compared to ISK 0.09 in Q2 2024, an increase of 144.4%.

Net interest-bearing debt, including lease liabilities, amounted to ISK 19.1 billion at the end of Q2 2025, compared to ISK 17.2 billion at year-end 2024. Cash and cash equivalents totalled ISK 744 million at the end of Q2 2025, compared to ISK 835 million at year-end 2024. The carrying amount of the Síminn Pay loan portfolio was ISK 4.6 billion at the end of Q2 2025. The net debt to last-12-month EBITDA ratio was 1.78x at the end of the quarter.

The equity ratio was 40.3% at the end of Q2 2025, with total equity of ISK 16.9 billion.

María Björk Einarsdóttir, CEO:"The quarter was characterised ...

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