Earnings call transcript: Icelandic Salmon narrows q2 2026 loss as costs ease

Icelandic Salmon AS reported a narrowing second-quarter loss in Q2 2026, despite remaining unprofitable on an EBIT basis. The company's EBIT improved by 61.4% year-over-year, falling from negative EUR 8.3 million to negative EUR 3.2 million. EBITDA turned slightly positive at about EUR 100,000, marking a significant turnaround. The company's harvest volume rose to 5,500 tonnes from 4,000 tonnes a year earlier, a 37.5% increase.

Average price achievement per kg was EUR 8.58, an increase of EUR 0.58 from the previous quarter. The company's net interest-bearing debt fell to EUR 124 million, down EUR 7 million from the previous quarter. Icelandic Salmon maintained its 2026 harvest guidance at 21,300 tonnes. The company anticipates lower costs in Q3, higher fish shares, and continued benefits from a cost-saving program as it moves towards profitability.