{"success":true,"data":{"pressRelease":{"id":"13435","rtpr_id":"nGNE2fMDDq","ticker":"FESTI","exchange":"","all_tickers":["FESTI"],"title":"REG-Festi:  Financial results for Q1 2026","author":"Globe Newswire","published_at":"2026-04-29T16:00:29.275Z","article_body":"Festi’s operations in line with expectations – Q1 profit amounted to ISK\n218 million\n\nMain results in Q1 2026\n* Sales of goods amounted to ISK 40,061 million, an increase of 6.0% YoY.\n* Margin from sales of goods and services amounted to ISK 9,747 million, an\nincrease of 5.8% YoY.\n* Gross margin was 24.3%, decreasing by 0.1 p.p. from Q1 2025, but by 0.6 p.p.\nexcluding the effects of exchange rates, changes in global fuel markets and\nchanges in public levies on fuel at the turn of the year.\n* EBITDA amounted to ISK 2,565 million, increasing by 3.0% YoY.\n* Profit amounted to ISK 218 million and return on equity was 13.7%.\n* Net cash from operating activities was negative by ISK 32 million, with\none-off effects in operating-related assets and liabilities explaining the YoY\ndifference.\n* Interest-bearing debt was refinanced during the quarter for approximately\nISK 4.2 billion, in addition to ISK 297 million being repaid on other loans.\nShare buy-backs amounted to ISK 563 million.\n* Equity amounted to ISK 44,971 million, and the equity ratio was 38.7% at the\nend of Q1 2026, compared to 41.2% at year-end 2025. The company distributed\ndividends of ISK 2,151 million in March, which were paid to shareholders on 9\nApril.\n* The company’s EBITDA guidance for 2026 remains unchanged at ISK\n16,500–17,000 million.\nÁsta S. Fjeldsted, CEO:\n\n“Operations performed well during the quarter and were in line with\nmanagement’s expectations. Total revenues increased by 6.0% YoY, while sales\nvolumes increased across most product categories; the number of transactions\nincreased by 1.4%, the number of items sold increased by 5.8%, and the number\nof fuel litres sold increased by 18.5%, primarily driven by sales to\nhigh-volume customers. Transaction growth through digital channels remains\nstrong, with the number of transactions increasing by 13.3% YoY.\n\nAs elsewhere in the economy, wage costs and input prices have increased, but\ntargeted measures have largely offset these effects. Salaries and\nemployee-related expenses increased by 3.5% overall, excluding the effects of\nchanges in full-time equivalents. Our focus is on maintaining competitiveness\nwhile ensuring sustainable operations over the longer term.\n\nInvestments in digital solutions and data-driven decision-making continue to\ndeliver increased efficiency. The use of artificial intelligence and\nautomation in key areas of the operations has already had a positive impact,\nalthough there remain many opportunities for further development.\n\nProfit for the first quarter amounted to ISK 218 million, a decrease of ISK 61\nmillion YoY. The equity ratio was 38.7% at the end of the quarter, a decrease\nof 3.5% from year-end 2025, while dividends paid to shareholders on 9 April\namounted to ISK 2.2 billion. The company’s liquidity position is good and\nits balance sheet remains strong,” says Ásta S. Fjeldsted, CEO of Festi.\n\nMain news from the company’s operations\n* Krónan continues to attract new customers while upgrading its stores.\nKrónan in Lindir, Kópavogur, will reopen in early summer and will be one of\nthe most impressive grocery stores in the country.\n* Lyfja announced the acquisition of Borgar Apótek in Borgartún, subject to\napproval by the Icelandic Competition Authority. At the same time,\nconstruction has begun on Lyfja’s new pharmacy in Vellir, Hafnarfjörður,\nnext to Krónan.\n* ELKO Smart Payments (Snjallgreiðslur) have been very well received in the\nonline store, and the service is planned to be rolled out in stores this\nautumn. ELKO will open a new store in Smáralind in the coming weeks, in a\nprime location next to the new food hall Garðurinn, offering a specially\nselected range of products and services.\n* N1 is gaining momentum, despite a decline in margin during the quarter. The\nnumber of transactions increased by 16% YoY and the number of new fuel\ncustomers doubled. N1‘s app continues to attract more customers, with March\nbeing a record month for litres sold through the app. Tyre workshops are fully\nbooked with cars switching to summer tyres, with the season starting\nconsiderably later than last year. Developments in Akranes, a transformation\nof the service station in Blönduós and several other projects are in full\nswing.\n* Bakkinn’s new refrigerated warehouse commenced operations during the\nquarter and will further support growth and improved quality of fruit and\nvegetables at Krónan.\n* Festi completed the sale of a new inflation-linked bond series with a\nnominal value of ISK 4.2 billion at a yield of 3.95%. This is the company’s\nfirst bond issue and represents the refinancing of part of the company’s\ndebt.\n“The outlook for 2026 is good, despite uncertainty in economic developments,\nrising inflation forecasts and ongoing tensions in the Middle East. The\nclosure of the Strait of Hormuz has had wide-ranging effects on global market\nprices for oil and other inputs based on fossil fuels. The effects on tourism\nand other domestic industries remain unclear, but the summer months ahead are\ntypically the busiest period in the Group’s operations. We will continue to\nseek ways to counter increases in product prices – and thereby inflation –\nthrough improved operations and lower unit prices.\n\nOur priorities this year remain strong operational performance across our\ncompanies and investment in their future. We continue to be guided by our\npurpose of improving everyday life and creating value in harmony with\nsociety,” says Ásta S. Fjeldsted.\n\nAttachments\n*     Festi hf - Company announcement Q1 2026\n(https://ml-eu.globenewswire.com/Resource/Download/5caf141f-cfc0-4006-b5ee-f6eb7196b055)\n  \n*     Festi hf - Consolidated Statements for 2026 Q1 - signed\n(https://ml-eu.globenewswire.com/Resource/Download/9759d3a5-a4fa-4886-8f8b-c204e3e58300)","article_body_html":"","raw_payload":{"data":{"id":"nGNE2fMDDq","title":"REG-Festi:  Financial results for Q1 2026","author":"Globe Newswire","ticker":"FESTI","created":"2026-04-29T16:00:29.275Z","tickers":["FESTI"],"exchange":"","article_body":"Festi’s operations in line with expectations – Q1 profit amounted to ISK\n218 million\n\nMain results in Q1 2026\n* Sales of goods amounted to ISK 40,061 million, an increase of 6.0% YoY.\n* Margin from sales of goods and services amounted to ISK 9,747 million, an\nincrease of 5.8% YoY.\n* Gross margin was 24.3%, decreasing by 0.1 p.p. from Q1 2025, but by 0.6 p.p.\nexcluding the effects of exchange rates, changes in global fuel markets and\nchanges in public levies on fuel at the turn of the year.\n* EBITDA amounted to ISK 2,565 million, increasing by 3.0% YoY.\n* Profit amounted to ISK 218 million and return on equity was 13.7%.\n* Net cash from operating activities was negative by ISK 32 million, with\none-off effects in operating-related assets and liabilities explaining the YoY\ndifference.\n* Interest-bearing debt was refinanced during the quarter for approximately\nISK 4.2 billion, in addition to ISK 297 million being repaid on other loans.\nShare buy-backs amounted to ISK 563 million.\n* Equity amounted to ISK 44,971 million, and the equity ratio was 38.7% at the\nend of Q1 2026, compared to 41.2% at year-end 2025. The company distributed\ndividends of ISK 2,151 million in March, which were paid to shareholders on 9\nApril.\n* The company’s EBITDA guidance for 2026 remains unchanged at ISK\n16,500–17,000 million.\nÁsta S. Fjeldsted, CEO:\n\n“Operations performed well during the quarter and were in line with\nmanagement’s expectations. Total revenues increased by 6.0% YoY, while sales\nvolumes increased across most product categories; the number of transactions\nincreased by 1.4%, the number of items sold increased by 5.8%, and the number\nof fuel litres sold increased by 18.5%, primarily driven by sales to\nhigh-volume customers. Transaction growth through digital channels remains\nstrong, with the number of transactions increasing by 13.3% YoY.\n\nAs elsewhere in the economy, wage costs and input prices have increased, but\ntargeted measures have largely offset these effects. Salaries and\nemployee-related expenses increased by 3.5% overall, excluding the effects of\nchanges in full-time equivalents. Our focus is on maintaining competitiveness\nwhile ensuring sustainable operations over the longer term.\n\nInvestments in digital solutions and data-driven decision-making continue to\ndeliver increased efficiency. The use of artificial intelligence and\nautomation in key areas of the operations has already had a positive impact,\nalthough there remain many opportunities for further development.\n\nProfit for the first quarter amounted to ISK 218 million, a decrease of ISK 61\nmillion YoY. The equity ratio was 38.7% at the end of the quarter, a decrease\nof 3.5% from year-end 2025, while dividends paid to shareholders on 9 April\namounted to ISK 2.2 billion. The company’s liquidity position is good and\nits balance sheet remains strong,” says Ásta S. Fjeldsted, CEO of Festi.\n\nMain news from the company’s operations\n* Krónan continues to attract new customers while upgrading its stores.\nKrónan in Lindir, Kópavogur, will reopen in early summer and will be one of\nthe most impressive grocery stores in the country.\n* Lyfja announced the acquisition of Borgar Apótek in Borgartún, subject to\napproval by the Icelandic Competition Authority. At the same time,\nconstruction has begun on Lyfja’s new pharmacy in Vellir, Hafnarfjörður,\nnext to Krónan.\n* ELKO Smart Payments (Snjallgreiðslur) have been very well received in the\nonline store, and the service is planned to be rolled out in stores this\nautumn. ELKO will open a new store in Smáralind in the coming weeks, in a\nprime location next to the new food hall Garðurinn, offering a specially\nselected range of products and services.\n* N1 is gaining momentum, despite a decline in margin during the quarter. The\nnumber of transactions increased by 16% YoY and the number of new fuel\ncustomers doubled. N1‘s app continues to attract more customers, with March\nbeing a record month for litres sold through the app. Tyre workshops are fully\nbooked with cars switching to summer tyres, with the season starting\nconsiderably later than last year. Developments in Akranes, a transformation\nof the service station in Blönduós and several other projects are in full\nswing.\n* Bakkinn’s new refrigerated warehouse commenced operations during the\nquarter and will further support growth and improved quality of fruit and\nvegetables at Krónan.\n* Festi completed the sale of a new inflation-linked bond series with a\nnominal value of ISK 4.2 billion at a yield of 3.95%. This is the company’s\nfirst bond issue and represents the refinancing of part of the company’s\ndebt.\n“The outlook for 2026 is good, despite uncertainty in economic developments,\nrising inflation forecasts and ongoing tensions in the Middle East. The\nclosure of the Strait of Hormuz has had wide-ranging effects on global market\nprices for oil and other inputs based on fossil fuels. The effects on tourism\nand other domestic industries remain unclear, but the summer months ahead are\ntypically the busiest period in the Group’s operations. We will continue to\nseek ways to counter increases in product prices – and thereby inflation –\nthrough improved operations and lower unit prices.\n\nOur priorities this year remain strong operational performance across our\ncompanies and investment in their future. We continue to be guided by our\npurpose of improving everyday life and creating value in harmony with\nsociety,” says Ásta S. Fjeldsted.\n\nAttachments\n*     Festi hf - Company announcement Q1 2026\n(https://ml-eu.globenewswire.com/Resource/Download/5caf141f-cfc0-4006-b5ee-f6eb7196b055)\n  \n*     Festi hf - Consolidated Statements for 2026 Q1 - signed\n(https://ml-eu.globenewswire.com/Resource/Download/9759d3a5-a4fa-4886-8f8b-c204e3e58300)"},"type":"article","timestamp":"2026-04-29T16:00:29.37377251Z","server_sent_at_ms":1777478429373},"received_at":"2026-04-29T16:00:29.424Z","source_url":"https://www.globenewswire.com/news-release/2026/04/22/3279149/0/en/festi-hf-publication-of-q1-2026-results-on-29-april-2026-and-investor-meeting-on-30-april.html"},"analysis":{"id":"10344","press_release_id":"13435","analysis_json":{"industry":{"label":"Consumer Staples Distribution & Retail","sector":"Consumer Staples"},"redFlags":["Net profit decreased by ISK 61 million YoY","Net cash from operating activities was negative ISK 32 million","Equity ratio decreased to 38.7% from 41.2% at year-end 2025"],"eventType":"earnings","narrative":"Festi reported Q1 sales of ISK 40.06 billion, up 6.0% year-over-year, with EBITDA rising 3.0% to ISK 2.57 billion, results management described as in line with expectations.\n\nDespite the top-line growth, net profit fell to ISK 218 million and operating cash flow turned negative, though the company maintained its full-year EBITDA guidance of ISK 16.5–17.0 billion.\n\nThe company returned capital to shareholders via ISK 2.15 billion in dividends and ISK 563 million in share buybacks, while refinancing ISK 4.2 billion in debt through a new bond issue.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"In-line Q1 earnings with steady guidance; profit dip offset by strong balance sheet and capital returns."},"keyFigures":{"revenue":"ISK 40,061 million","guidance":"ISK 16,500–17,000 million","revenueYoy":"6.0%","customDimensions":{"ebitda":"ISK 2,565 million","profit":"ISK 218 million","ebitdaYoy":"3.0%","grossMargin":"24.3%","bondIssuance":"ISK 4.2 billion","dividendPaid":"ISK 2,151 million","shareBuybacks":"ISK 563 million"}},"quotedText":"Operations performed well during the quarter and were in line with management’s expectations.","namedEntities":{"people":[{"name":"Ásta S. Fjeldsted","role":"CEO"}],"products":["ELKO Smart Payments","inflation-linked bond"],"companies":[{"name":"Festi","ticker":"FESTI"},{"name":"Krónan","relationship":"subsidiary"},{"name":"Lyfja","relationship":"subsidiary"},{"name":"Borgar Apótek","relationship":"acquisition target"},{"name":"Icelandic Competition Authority","relationship":"regulator"},{"name":"ELKO","relationship":"subsidiary"},{"name":"N1","relationship":"subsidiary"},{"name":"Bakkinn","relationship":"subsidiary"}],"dollarAmounts":[{"amount":"ISK 40,061 million","context":"Q1 2026 sales of goods"},{"amount":"ISK 9,747 million","context":"margin from sales of goods and services"},{"amount":"ISK 2,565 million","context":"Q1 2026 EBITDA"},{"amount":"ISK 218 million","context":"Q1 2026 profit"},{"amount":"ISK 4.2 billion","context":"refinancing of interest-bearing debt / bond series nominal value"},{"amount":"ISK 563 million","context":"share buy-backs"},{"amount":"ISK 44,971 million","context":"equity at end of Q1 2026"},{"amount":"ISK 2,151 million","context":"dividends distributed in March"}]},"materialImpact":{"score":2,"reasoning":"Q1 results were in line with management expectations. While sales and EBITDA grew, net profit and operating cash flow declined, and full-year guidance remains unchanged."},"tickerRelevance":{"others":[],"primary":"FESTI"},"globalImportance":15,"audienceRelevance":10,"eventTypeSecondary":["dividend","offering"],"importanceComponents":{"tickerTier":"small-mid cap","eventGravity":"routine earnings","sectorWeight":"retail","geographicFocus":"Iceland"}},"event_type":"earnings","event_type_secondary":["dividend","offering"],"sentiment":"neutral","material_impact_score":2,"narrative":"Festi reported Q1 sales of ISK 40.06 billion, up 6.0% year-over-year, with EBITDA rising 3.0% to ISK 2.57 billion, results management described as in line with expectations.\n\nDespite the top-line growth, net profit fell to ISK 218 million and operating cash flow turned negative, though the company maintained its full-year EBITDA guidance of ISK 16.5–17.0 billion.\n\nThe company returned capital to shareholders via ISK 2.15 billion in dividends and ISK 563 million in share buybacks, while refinancing ISK 4.2 billion in debt through a new bond issue.","key_figures":{"revenue":"ISK 40,061 million","guidance":"ISK 16,500–17,000 million","revenueYoy":"6.0%","customDimensions":{"ebitda":"ISK 2,565 million","profit":"ISK 218 million","ebitdaYoy":"3.0%","grossMargin":"24.3%","bondIssuance":"ISK 4.2 billion","dividendPaid":"ISK 2,151 million","shareBuybacks":"ISK 563 million"}},"named_entities":{"people":[{"name":"Ásta S. Fjeldsted","role":"CEO"}],"products":["ELKO Smart Payments","inflation-linked bond"],"companies":[{"name":"Festi","ticker":"FESTI"},{"name":"Krónan","relationship":"subsidiary"},{"name":"Lyfja","relationship":"subsidiary"},{"name":"Borgar Apótek","relationship":"acquisition target"},{"name":"Icelandic Competition Authority","relationship":"regulator"},{"name":"ELKO","relationship":"subsidiary"},{"name":"N1","relationship":"subsidiary"},{"name":"Bakkinn","relationship":"subsidiary"}],"dollarAmounts":[{"amount":"ISK 40,061 million","context":"Q1 2026 sales of goods"},{"amount":"ISK 9,747 million","context":"margin from sales of goods and services"},{"amount":"ISK 2,565 million","context":"Q1 2026 EBITDA"},{"amount":"ISK 218 million","context":"Q1 2026 profit"},{"amount":"ISK 4.2 billion","context":"refinancing of interest-bearing debt / bond series nominal value"},{"amount":"ISK 563 million","context":"share buy-backs"},{"amount":"ISK 44,971 million","context":"equity at end of Q1 2026"},{"amount":"ISK 2,151 million","context":"dividends distributed in March"}]},"model_name":"glm-4.7","prompt_hash":"sha256:1fc968c3ac7f7ebb","schema_hash":"sha256:1f8af1196c7db48c","created_at":"2026-04-29T19:33:56.266Z","global_importance":15,"audience_relevance":10,"importance_components":{"tickerTier":"small-mid cap","eventGravity":"routine earnings","sectorWeight":"retail","geographicFocus":"Iceland"}},"durationMs":57662,"modelName":"glm-4.7"}}