Síminn hf. Achieves Strong Growth in Q2 2025 Results
Exciting Financial Highlights from Síminn hf. for Q2 2025
In the second quarter of 2025, Síminn hf. reported remarkable financial growth, demonstrating their resilient operations and commitment to enhancing customer value. The total revenue surged to ISK 7,196 million, marking a 4.7% increase compared to Q2 2024, where revenues stood at ISK 6,871 million. This positive trend was significantly driven by healthy revenue streams from mobile, data transmission, and television services, which collectively observed a growth of 2.5% year-on-year. Moreover, the advertising revenues climbed to ISK 604 million, up 12.9% from ISK 535 million in the previous year.
Increased Earnings and Improved Profit Margins
Positive EBITDA Trends
Síminn hf. showcased a strong EBITDA of ISK 1,924 million in Q2 2025, which marks an impressive growth of ISK 198 million, translating to an 11.5% increase from ISK 1,726 million in Q2 2024. This increase contributed to an improved EBITDA margin of 26.7%, up from 25.1% recorded in the preceding year. Furthermore, the company's EBIT jumped to ISK 931 million, demonstrating a substantial increase of 46.4% compared to ISK 636 million a year ago.
Net Profit Growth
In terms of net profit, Síminn hf. reported ISK 537 million for Q2 2025, compared to ISK 244 million in Q2 of the prior year, resulting in an outstanding increase of 120.1%. The earnings per share also demonstrated significant growth, escalating to ISK 0.22 from ISK 0.09, marking a notable rise of 144.4%.
Financial Stability and Outlook
As of the end of Q2 2025, Síminn hf. had a net interest-bearing debt of ISK 19.1 billion, which increased from ISK 17.2 billion at the end of 2024. Cash and cash equivalents were reported at ISK 744 million, with the carrying amount of their Síminn Pay loan portfolio totaling ISK 4.6 billion. The net debt to last-12-month EBITDA ratio stood at 1.78x at the end of the quarter, indicating the company’s robust financial positioning.
CEO Insights and Strategic Partnerships
Maria Björk Einarsdóttir, CEO of Síminn hf., shared her insights on the promising quarterly performance. She emphasized the company’s strong operational momentum and progressive advancements in services and product offerings. The company continued to thrive within the media sector, highlighted by increased revenues from Síminn Premium TV and enhanced advertising revenues. Maria noted, "Our consistent growth in total revenues alongside controlled operating costs contributed to our significant earnings increase compared to the same period last year. We are dedicated to delivering shareholder value through strategic share buybacks."
New Streaming Partnerships
In an effort to enhance customer experience, Síminn hf. recently established partnerships to provide access to HBO Max and Hayu streaming services. This initiative allows Síminn Premium TV subscribers to enjoy acclaimed drama series and reality content, aligning with global trends aimed at increasing customer convenience and offering additional value. The company's expansion into new partnerships has already led to a 20% increase in viewership for Síminn Premium TV between June and July.
Broadcast Rights Developments
This quarter, Síminn also emphasized its commitment to sports content delivery by broadcasting English Premier League matches through Sýn's distribution network. Following a recent interim decision, Sýn will be required to provide Síminn access to its linear broadcasts, ensuring clients continue to enjoy a comprehensive sports viewing experience across diverse platforms.
Expanding Fintech Services
Síminn's fintech operations showcased impressive growth, with a significant increase in the number of Síminn Pay corporate card users and overall product development. Active users of the Noona platform reached 84 thousand by the end of June, up 26% compared to the same time the previous year, alongside a growing number of vendors. Additionally, interest income from lending rose markedly as a result of Síminn Pay's acquisition of Valitor's loan portfolio.
Looking Ahead
The outlook for Síminn hf. remains optimistic, with strong core operations and promising new revenue streams emerging from innovative product development in telecom, media, and fintech. The company appears eager to explore growth opportunities as it leverages its robust infrastructure to expand into new areas.
Leadership Transition
As this report marks the conclusion of Óskar Hauksson's tenure, who served as CFO since 2011, Síminn acknowledges his significant contributions. With over fourteen years at the forefront of financial operations, his departure signals a new chapter for the company. The team at Síminn expresses their gratitude for Óskar’s dedicated service and wishes him well in his future endeavors.
Frequently Asked Questions
What were the key financial highlights for Síminn hf. in Q2 2025?
Síminn hf. reported ISK 7,196 million in revenues, ISK 1,924 million in EBITDA, and a net profit of ISK 537 million.
How has Síminn's EBITDA changed compared to the previous year?
EBITDA increased by 11.5% from ISK 1,726 million in Q2 2024 to ISK 1,924 million in Q2 2025.
What initiatives is Síminn pursuing to enhance customer engagement?
Síminn has partnered with HBO Max and Hayu to offer premium streaming content, contributing to increased viewership.
How does Síminn view its future business outlook?
Management is optimistic about future operations, focusing on growth through innovative product offerings in telecom, media, and fintech.
Who is the CEO of Síminn hf.?
Maria Björk Einarsdóttir serves as the CEO of Síminn hf., guiding the company's strategic direction and growth.
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