Hagar hf. approved its interim financial statements for Q2 of the 2025/26 financial year, with sales up 11.2% to 51,817 m.ISK and profit increasing to 2,556 m.ISK. Strong operations included growth in grocery store visits and units sold, as well as the development of a new retail center in the Faroe Islands.

CEO Finnur Oddsson reported that Hagar’s revenue in Q2 increased by 11.2% to 51,817 m.ISK, with strong results across all key metrics. Revenue from Stores and Warehouses – Iceland rose by 6.8% to 34.4 billion ISK, with increased customer visits and units sold. Bónus saw growth and price reductions on 900 products.

Olís saw a strong performance with improved profit despite a decrease in revenue to 14.1 billion ISK, mainly due to lower oil prices. The company also launched a new loyalty program and expanded its services, opening new stations and car wash facilities.

Hagar’s management guidance for 2025/26 was raised to an expected EBITDA of 17,000-17,500 m.ISK. The company’s share buyback amounted to 395 million ISK during the quarter, with 3.7 million shares repurchased. Overall, Hagar’s operations are exceeding expectations and showing positive growth. Olís has seen solid results due to operational improvements, lower costs, and increased sales. They opened two new fuel stations and car wash facilities. SMS in the Faroe Islands experienced strong growth with revenue reaching ISK 4.0 billion. Hagar has evolved digitally and will launch a new customer loyalty program to enhance services.

Hagar continues to focus on operational efficiency and business development, achieving strong performance and exceeding expectations. A presentation meeting will be held on October 17, 2025, to discuss the company’s operations and financial performance. Live streaming is available, and presentation materials will be provided in Icelandic and English.

Read more at GlobeNewswire: Financial results for Q2 2025/26