Ásar hf. - Results for the third quarter of 2026

What happened

Ásar hf. reported third-quarter 2026 revenue of ISK 7,846 million, up 11.1% from ISK 7,062 million a year earlier. Adjusted EBITDA was ISK 2,116 million, up 14.5%, and the adjusted EBITDA margin was 27.0%.

Confirmed

Global impact / market context

Revenue growth came partly from GMÍ, which joined the group on 1 July 2026 and added ISK 487 million of revenue and ISK 124 million of EBITDA. That means more of the company's sales and profit now depend on the payment business rather than telecom and TV alone.

Analyst inference

Adjusted EBITDA strips out ISK 177 million of restructuring and external growth costs, which were mostly deal-related, so the reported profit is lower than adjusted profit. Investors comparing periods should note that GMÍ's contribution is new and only partly comparable with last year.

Analyst inference

What to watch

1. Watch whether GMÍ keeps contributing revenue and EBITDA at similar levels after its first full quarter in the group, since it joined on 1 July 2026. Confirmed
2. The company is preparing to acquire Sýn's online and radio media operations, and ISK 40 million of preparation costs were already booked in Q3. Proposed
3. Restructuring and deal costs of ISK 177 million reduced reported EBITDA, so future quarters may show better reported profit if these one-off costs fade. Analyst inference

Evidence

• globenewswire.com