Slides
Page 1
Eimskip Q2 2026 Results 25 August 2026
Page 2
Q2 2026 highlights The estimated annual impact of executed initiatives amounts to EUR 13m, whereof EUR 3.2m was realized in Q2, contributing EUR 2.7m to EBITDA. Year to date, initiatives have delivered a total of EUR 6.1m in realized benefits, with an EBITDA impact of EUR 5.1m. Overall good volume in Liner with generally strong volume in Iceland Liner offsetting weaker industrial cargo exports from Iceland. Improved results in Forwarding in the quarter, driven by sales focus leading to volume growth and several successfully executed project cargo shipments. Logistics and agency with a strong results, supported by improved performance in trucking and terminal operations. During the year, Eimskip has continued to implement a new sales and service platform for the container liner with completion expected this year . The new platform will replace a 20-year-old legacy system and increases scope for automation, AI- enabled capabilities and improved customer service. Positive results in a quarter marked by significant external headwinds. Profitability was broadly in line with last year and improves compared with recent quarters supported by successful implementation of planned business and operational measures initiated in 2025.
Page 3
4 Service segments
Page 4
The only Pan-Arctic ocean carrier Strong connections to international markets via global network
Page 5
6 Note: Reefer liner volume in Norway converted from tons to teus Strong IS volume offsetting 3,000 teus weaker industrial cargo exports from Iceland 54.9 53.6 50.2 49.2 53.6 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 - 2.4% Volume development by quarter teus ‘000 Change by trade lines teus ‘000 Liner results EURm Liner segment Q2 26 Q2 25 YoY % Q1 26 QoQ % Revenue 117.4 107.0 9.7% 103.6 13.3% Expenses 110.0 97.6 12.8% 101.1 8.9% Thereof salaries 11.7 11.6 0.6% 11.6 1.3% EBITDA 7.3 9.4 -21.7% 2.5 EBITDA margin 6.3% 8.8% 2.4% EBIT 0.0 0.2 -5.0 EBIT margin 0.0% 0.2% -4.9% 54.9 53.6 0.1 0.5 0.3 0.6 -0.4 -0.8 -0.9 0.0 -0.5 Q2 2025 IMP IS EXP IS IMP FO EXP FO TA West TA East Short sea NO North NO South Q2 2026
Page 6
7 Purple line Direct and reliable weekly connection supporting growing transport of fresh seafood and salmon
Page 7
8 Global freight rates increased due to surge in bunker prices and disruption in cargo flow Geopolitics continue to shape the external environment Drewry World Container Index development YTD USD/40ft container Bunker price development YTD USD/ton Source: Platts: S&P Global – 1 January to 17 August 2026 Source: Drewry WCI – 1 January to 13 August 2026 0 200 400 600 800 1,000 1,200 1,400 1,600 January February March April May June July August MGO Base HFO Base 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 January February March April May June July August World Index RTM-NY NY-RTM
Page 8
Specialized in temperature controlled commodities operating in 30 locations in 20 countries DONEGlobal freight forwarding network
Page 9
10 Good volume growth across most markets at elevated rate levels improving results + 5.5% Volume development by quarter teus ‘000 Volume bridge and split by geography teus ‘000 Forwarding results EURm 26.3 28.6 30.6 26.3 27.3 11.4 11.9 10.5 11.0 12.4 37.6 40.5 41.1 37.3 39.7 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Reefer Dry 19.5 20.3 13.7 14.3 3.3 3.1 37.6 0.7 0.6 -0.2 0.9 39.7 Q2 2025 Europe Asia Scandinavia N-America Q2 2026 Europe Asia Scandinavia N-America Forwarding segment Q2 26 Q2 25 YoY % Q1 26 QoQ % Revenue 87.4 71.7 22.0% 66.6 31.2% Expenses 83.7 69.4 20.6% 65.8 27.1% Thereof salaries 6.6 6.5 1.4% 6.6 0.5% EBITDA 3.7 2.3 63.2% 0.8 370.6% EBITDA margin 4.3% 3.2% 1.2% EBIT 2.5 1.0 -0.4 EBIT margin 2.9% 1.4% -0.6%
Page 10
11 Asia - Africa 5% Asia - N-America 8% Intra - Europe 4% Europe - Africa 12% Intra - Africa 2% Europe - Asia 18% Asia - Europe 23% Other trades 11% Intra - Asia 13% Europe - N-America 4% Forwarding volume split 1H 2026
Page 11
DONE Providing holistic door-to- door solutions leveraging local expertise and strong infrastructure Logistics and agency services
Page 12
13 High activity in trucking and terminals in Iceland, while softening in other locations. Warehouse volume affected by changes among key customers in the beginning of the year but increases from Q1. Less activity in cold storage in most locations. Percentage split of revenue Logistics and agency results EURm 48% 48% 50% 53% 52% 24% 22% 23% 22% 21% 21% 22% 22% 22% 22% 3% 7% 3% 2% 3%4% 2% Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Trucking Warehouse & CS Terminal Agency Other Q2 26 Q2 25 YoY % Q1 26 QoQ % Revenue 74.6 69.1 8.0% 67.4 10.7% Expenses 64.4 59.5 8.2% 61.4 4.8% Thereof salaries 24.3 24.1 1.1% 22.7 7.1% EBITDA 10.2 9.5 7.3% 6.0 71.4% EBITDA margin 13.7% 13.8% 8.8% EBIT 4.2 4.5 0.6 EBIT margin 5.6% 6.5% 0.9% Logistics and agency segment Good results driven by high activity in trucking and terminal operations
Page 13
14 Logistics volume development Note: Absolute values reflect own operations. Numbers have been adjusted where needed, for comparison between countries. Terminals Lifts ‘000 Trucking Tons ‘000 Warehouses Pallets ‘000 Cold storages Pallets ‘000 Pallets out Average # of pallets Pallets out Average # of pallets 574 591 627 593 598 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 51 54 47 45 52 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 168 181 184 137 147 84 94 96 67 73 0 50 100 150 200 250 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 73 68 55 62 56 29 25 24 23 22 0 10 20 30 40 50 60 70 80 90 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Page 14
15 Financial results
Page 15
16 Revenue increased by 11.4%, mainly driven by higher global freight rates and increase in bunker surcharges. Expenses increased by 12.7%, primarily driven by the same reasons as increase in revenue. Salaries increased only by 0.9% year on year, despite e.g. approximately 4.0% collective wage increases in Iceland between periods. Number of FTEs has reduced by 48 from the same time last year . Good EBITDA results despite being negatively impacted by approximately EUR 1.0m, reflecting a EUR 0.7m cost of the seafarers' strike and a EUR 0.3m comparison effect from discontinued ferry operations in Iceland. Depreciation decreased by EUR 0.9m, primarily due to fewer vessels in operation. Higher finance expense than same quarter last year caused by unfavorable foreign exchange movements. Strong performance of affiliates contributed EUR 3.4m, compared to EUR 0.7m last year . A dividend of USD 10m was received from Elbfeeder in July following the sale of the vessel EF Emira and will be recognized in Q3. EURm Q2 2026 Q2 2025 Change % Revenue 225.4 202.3 23.1 11.4% Expenses 204.1 181.1 23.0 12.7% Thereof salary and related expenses 42.6 42.2 0.4 0.9% EBITDA 21.3 21.2 0.1 0.5% Depreciation and amortization 14.6 15.5 -0.9 -5.8% EBIT 6.7 5.7 1.0 17.5% Net finance expense -4.2 -0.6 -3.6 Share of profit of affiliates 3.4 0.7 2.7 Profit on disposal of subsidiary 0.3 0.0 0.3 Net earnings before income tax 6.3 5.9 0.4 6.8% Income tax -0.8 -1.3 0.5 -38.5% Net earnings for the period 5.5 4.6 0.9 19.6% EBITDA ratio 9.4% 10.5% EBIT ratio 3.0% 2.8% Profit margin 2.4% 2.3% Improved results of core operations supported by planned efforts and healthy volumes Income statement Q2 2026
Page 16
17 96.7 94.9 91.0 94.2 106.6 64.2 69.0 68.9 59.7 77.8 41.3 41.6 38.6 37.9 41.0 202.3 205.4 198.5 191.7 225.4 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Liner Forwarding Logistics and agency Total revenue increased by EUR 23.1m or 11.4% YoY . Liner revenue increased by 10.3% or EUR 9.9m while volume decreased by 2.4%. • Emergency bunker surcharge was implemented in March to accommodate the sharp increase in global bunker prices. The increase in revenues corresponds with increase in bunker expenses. • Continued effort and focus on unit prices in Liner driven by planned initiatives introduced in Q3 2025. Forwarding revenue increased by EUR 13.6m, or 21.1% reflecting volume increase and higher global freight rates in addition to project cargo in the quarter . The Drewry World Container Index was on average 10.2% higher in Q2 2026 compared to same period last year . Logistics and agency revenue were stable supported by increase in trucking. Adjusted for the discontinued of the ferry operation in Iceland last year, revenue increased by EUR 1.2m in the Logistic segment. Total revenue development EURm Geographical split of revenue + 11.4% 55.6% 56.7% 56.2% 56.9% 58.4% 7.5% 6.9% 7.3% 7.8% 6.0%5.1% 3.9% 3.5% 4.1% 4.6% 21.6% 21.6% 21.7% 20.7% 20.3% 7.0% 7.5% 8.1% 7.5% 8.2% 3.2% 3.4% 3.2% 3.0% 2.4% Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Iceland Faroe Islands Norway Europe Asia N-America Sharp increase in bunker charges and higher freight rates coupled with good volume drive revenue growth Revenue analysis
Page 17
18 0.7 13.6 1.5 -0.4 -0.1 0.0 -1.3 -0.1 202.3 9.3 225.4 Q2 2025 Cont. Liner Reefer Liner Forwarding Trucking WH & CS Terminal Agency Logistics Other Other Q2 2026 Revenue bridge by business activity EURm Revenue bridge
Page 18
19 15.6 5.7 0.9 -0.1 0.4 0.5 181.1 204.1 Q2 2025 3rd party Bunker ETS Liner & equipm. Salaries Other Q2 2026 93.5 97.6 99.8 95.1 109.1 12.4 12.5 12.7 13.9 19.020.5 19.4 19.6 20.4 20.4 42.2 39.3 41.0 40.9 42.612.5 16.1 12.7 12.3 13.0181.1 185.0 185.7 182.5 204.1 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 3rd p logistics serv. Bunker & ETS Liner & equipm. Salaries Other Expenses increased by EUR 23m or 12.7% YoY . The consequences of the heightened geopolitical tension and conflict in the Middle East is the single biggest attributer to the increase in expenses. The increase in third-party logistics costs was driven by higher global freight rates and increase in land transportation costs caused by increased oil prices in addition to higher vessel charter expenses. Bunker increased by EUR 5.7m or 52.7% due to the sharp increase in global oil prices in the period despite 5.8% lower bunker consumption. ETS cost increased by EUR 0.9m as ETS implementation went from 70% to 100% in 2026. Salaries increased by only EUR 0.4m or 0.9% as a result of planned reduction in FTE. The realization of planned initiatives introduced in Q3 2025 is consistent with the guidance provided. Total expenses development EURm Expense bridge EURm + 12.7% Surge in bunker prices driving 3rd party and bunker expenses mitigated by planned efforts Expense analysis
Page 19
20 1.4 12.1 0.5 0.3 -1.2 0.1 -1.0 0.4 181.1 10.5 204.1 Q2 2025 Cont. Liner Reefer Liner Forwarding Trucking WH & CS Terminal Agency Logistics Other Other Q2 2026 Expense bridge by business activity EURm Expense bridge
Page 20
21 21.2 20.4 12.7 9.3 21.3 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 EBITDA development by quarter EURm + 0.5% EBITDA bridge by business activity EURm EBITDA Good result in a challenging operational environment. Forwarding and Logistic segments contributing to improved result. -0.7 1.5 1.0 -0.6 1.1 -0.1 -0.3 -0.5 21.2 -1.2 21.3 Q2 2025 Cont. Liner Reefer Liner Forwarding Trucking WH & CS Terminal Agency Logistics Other Other Q2 2026
Page 21
22 237 217 223 233 254 114 110 107 107 122 2.45 2.58 3.19 3.67 3.98 -2.00 -1.00 0.00 1.00 2.00 3.00 4.00 0.0 50.0 100.0 150.0 200.0 250.0 300.0 350.0 400.0 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Net debt Whereof operational leases Leverage ratio Cash flow bridge EURm Solid cash flow from operations following improved results in the quarter Net interest-bearing debt and leverage ratio by quarter EURm Cash flow from operations development by quarter EURm Uppfæra töflu Cash flow and leverage 15.1 0.7 5.2 2.9 13.7 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 24.1 21.3 0.1 1.5 (9.2) (4.5) (4.1) (4.8) 24.4 Cash position 31.03.2026 EBITDA Taxes Working capital change Maint. CAPEX Financing activities Other investment Dividend payment Cash position 30.06.2026
Page 22
23 Maintenance capex in line with plan New investment capex amounting to EUR 4.6m YTD. Investments include expansion of trucking fleet, finalization of washing facility in Sundahöfn terminal and refurbishment of multiple office facilities. Preparations for a new distribution centre in Selfoss commenced during the first half of the year . The project cost was limited in the first half but is expected to increase in the second half of the year . Maintenance capex amounting to EUR 14.9m YTD. Most significant cost items include vessel dockings and various equipment renewals. Investment due to the implementation of a new sales and service platform for the container liner has resulted in a EUR 1.4m higher IT investment YTD compared with previous year . 13.9 14.9 29-32 6M 2025 6M 2026 2026 Plan 3.9 4.6 15-18 6M 2025 6M 2026 2026 Plan Maintenance capex EURm New investment capex EURm
Page 23
Business stories Laga milliglæru
Page 24
Mission Our solutions, your success Values Teamwork Innovative Reliability Respect Vision Connect communities, deliver prosperity Strategic Pillars Operational efficiency Empower our people Innovate & AutomateCustomer-centric services Strategic framework
Page 25
myEimskip Building the Digital Liner Business Our continued investment in digital solutions puts the customer first, enhancing service levels, increasing visibility and simplifying interactions across the entire shipping journey. One Liner system Legacy SAP Liner system replaced by FOSS on Microsoft Business Central, with global processes across FOSS, CE and myEimskip. Shipment management Real-time tracking Documents and invoices AI agents Your digital customer portal for complete shipment management and visibility. Skipper and Linus leverage AI to automate processes, enhance operational efficiency and improve decision- making throughout Eimskip's liner business. Quicker processes User friendly Improved data quality Demurrage & detention Service requests Quotations Linus knows how things are done Skipper knows what is happening Operational efficiency Empower our people Innovate & Automate Customer-centric services Focus on digital solutions
Page 26
Eimskip continues to expand its fleet of telemetrically connected reefer containers. Real-time connectivity provides continuous visibility of location and condition throughout the transport journey, improving transparency, service quality and cargo safety. Investment in new reefer containers strengthens visibility and cargo safety Reefer containers constitute approximately 26% of the overall container fleet or 9,400 teus By the end of 2028, over 80% of the reefer container fleet will be telemetrically connected. By the end of 2026, Eimskip will operate close to 2,000 telemetrically connected reefer containers within its sailing system.
Page 27
Eimskip Denmark’s two-year Trainee Program combines formal education with practical experience across key areas of the business, creating a strong pipeline of future logistics and shipping professionals. 25 active trainees in 2026 Eimskip Denmark Trainee Education Program Building a strong pipeline of future logistics talent Hvenær byrjaði prógrammið, hvað hafa margir farið í gegnum það í heild. Hvað margir vinna enn hjá fyrirtækinu 25% of current employees joined Eimskip through the Trainee Program 50% of graduated trainees have progressed in their careers within Eimskip Supporting employability, diversity & inclusion, and long-term talent development
Page 28
Outlook Laga milliglæru
Page 29
30 A new direct and reliable weekly service from Faroes to Rotterdam commenced in August supporting exports of fresh seafood, particularly salmon. However lower volumes are expected in pelagic export, reflecting reduced mackerel quotas and an earlier herring season. Imports are expected to remain in line with previous levels. Reefer volumes in Norway expected to be somewhat lower than last year, due to lower quota and US customs tariffs. As of 1 September, a chartered reefer vessel will be redelivered with net positive financial effect on the operation. Forwarding volumes are estimated to remain in line with both Q2 and last year, as equipment shortages in Europe and limited capacity in Asia are likely to constrain further growth in the near term. Rates are expected to remain at elevated level albeit development is uncertain due geopolitical situation. Logistics operations are expected to deliver stable performance, driven by solid trucking activity and improving terminal volumes as Nordurál is near full production levels in August. Warehousing and cold storage volumes are forecasted to show moderate sequential improvement. Third quarter is typically a peak season in Agency operations, though activity is expected to be somewhat lower than in Q3 2025. Q3 Outlook Icelandic import volumes are expected to remain resilient despite softer building material imports. Exports are projected to remain strong, underpinned by seafood and salmon shipments. Nordurál is near full production levels in August which will support volumes. Trans-Atlantic volumes are expected to be modestly higher than in Q2 this year but below Q3 last year, while rates are expected to increase both QoQ and YoY .
Page 30
Thank you Thank you
Page 31
Appendix Vala, Skipta út mynd
Page 32
33 This is Eimskip Since 1914 Eimskip has been a trusted partner in global logistics with a network spanning 20 countries, 56 offices and 1,700 employees. To ensure reliable door-to-door solutions for our customers, our services include container and reefer vessel operations in the North- Atlantic, terminal operations, trucking systems, warehouses, cold storages and a global forwarding network. 56 Offices 20 Countries 14 Vessels 10 Container vessels 4 Reefer vessels 51 Nationalities Customer satisfaction 4.5 Scale 1 - 5 Established in 1914 Listed on Nasdaq Iceland 2012 30 Warehouses 12 Cold storages Greenhouse gas emission -9% Senior management 36% Female 64% Male Board of Directors 60% Female 40% Male Employee satisfaction 8.2 Scale 1 - 1032% Female 68% Male 1671 FTEs LTM Q2 2026 compared to LTM Q2 2025 4 Continents
Page 33
34 Logistics and agency services represents trucking and distribution, warehousing, cold storages, own terminal operations and agency. Various services offered across 30 locations in 11 countries. Liner services includes container- and reefer liner services in the North-Atlantic. This includes import and export from Iceland and the Faroe Islands, west- and eastbound Trans-Atlantic and reefer liner in Norway. Included in this segment is all liner related pre- and on-carriages. A total of 21 liner offices across 13 countries. Forwarding services represents sale and services of transportation solutions outside of Eimskip's own operating system, particularly in sea-, air-, and land transportation. A total of 30 forwarding offices across 20 countries and four continents. Liner services Forwarding services Logistics and agency Our solutions, your success
Page 34
35 Income statement by segments Q2 2026 compared to Q2 2025 EURm Q2 2026 Q2 2025 YoY % Q2 2026 Q2 2025 YoY % Q2 2026 Q2 2025 YoY % Q2 2026 Q2 2025 Q2 2026 Q2 2025 YoY % Revenue 117.4 107.0 9.7% 87.4 71.7 22.0% 74.6 69.1 8.0% -54.1 -45.4 225.4 202.3 11.4% Expenses 110.0 97.6 12.8% 83.7 69.4 20.6% 64.4 59.5 8.2% -54.1 -45.4 204.1 181.1 12.7% There of salaries 11.7 11.6 0.6% 6.6 6.5 1.4% 24.3 24.1 1.1% 42.6 42.2 1.0% EBITDA 7.3 9.4 -21.7% 3.7 2.3 63.2% 10.2 9.5 7.3% 21.3 21.2 0.5% Depreciation 7.4 9.2 -19.8% 1.2 1.3 -6.9% 6.0 5.0 20.5% 14.6 15.5 -5.7% EBIT 0.0 0.2 2.5 1.0 4.2 4.5 6.7 5.7 Net financial income -1.9 -0.3 -0.7 -0.1 -1.6 -0.2 -4.2 -0.6 Share of earnings of affiliates 3.4 0.7 0.0 0.0 0.0 0.0 3.4 0.7 Profit of disposal of subsidiary 0.0 0.0 0.0 0.0 0.3 0.0 0.3 0.0 EBT 1.4 0.6 1.9 0.9 2.9 4.3 6.3 5.8 Taxes -0.3 -0.6 -0.1 -0.1 -0.4 -0.6 -0.8 -1.3 Net Profit 1.1 0.0 1.8 0.8 2.6 3.7 5.5 4.5 A management distribution rule is applied for illustration purposes on net financial income and taxes to each segment Volume (teus '000) 53.6 54.9 -2.4% 39.7 37.6 5.5% Jobs 27,470 26,456 3.8% Revenue per teus (EUR) 2,189 1,947 12.4% 2,203 1,904 15.7% Cost per teus (EUR) 2,052 1,777 15.5% 2,109 1,843 14.4% EBITDA per teus (EUR) 137.1 170.9 -19.8% 94.0 60.8 54.7% Sailed miles Q2 185,706 193,002 Uitilization (headhaul) - Cont. Liner 84% 85% EliminationLogistics and agencyForwardingLiner Total
Page 35
36 Income statement by segments 6M 2026 compared to 6M 2025 EURm 6M 2026 6M 2025 YoY % 6M 2026 6M 2025 YoY % 6M 2026 6M 2025 YoY % 6M 2026 6M 2025 6M 2026 6M 2025 YoY % Revenue 221.0 211.0 4.7% 154.1 149.2 3.3% 142.0 133.9 6.0% -100.0 -90.6 417.1 403.6 3.4% Expenses 211.1 196.1 7.7% 149.6 144.0 3.9% 125.8 117.6 7.0% -100.0 -90.6 386.5 367.1 5.3% There of salaries 23.3 23.6 -1.4% 13.2 13.0 1.1% 47.1 46.3 1.7% 83.5 82.9 0.7% EBITDA 9.9 14.9 -33.8% 4.5 5.3 -14.3% 16.2 16.4 -1.1% 30.6 36.5 -16.3% Depreciation 14.9 19.2 -22.2% 2.3 2.6 -8.5% 11.4 10.1 13.2% 28.7 31.8 -9.9% EBIT -5.1 -4.3 2.2 2.7 4.8 6.3 1.9 4.7 Net financial income -4.0 -1.5 -1.4 -0.5 -3.2 -1.2 -8.5 -3.2 Share of earnings of affiliates 6.6 3.2 0.1 0.0 0.0 0.0 6.7 3.2 Profit of disposal of subsidiary 0.0 0.0 0.0 0.0 0.3 0.0 0.3 0.0 EBT -2.4 -2.7 0.9 2.2 1.9 5.1 0.4 4.7 Taxes 0.1 -0.4 0.1 -0.1 0.231 -0.4 0.4 -0.9 Net Profit -2.3 -3.0 0.9 2.1 2.1 4.7 0.8 3.7 A management distribution rule is applied for illustration purposes on net financial income and taxes to each segment Volume (teus '000) 102.9 106.9 -3.7% 77.0 72.7 5.9% Jobs 54,588 51,359 6.3% Revenue per teus (EUR) 2,148 1,974 8.8% 2,001 2,053 -2.5% Cost per teus (EUR) 2,052 1,834 11.9% 1,942 1,980 -1.9% EBITDA per teus (EUR) 95.8 139.3 -31.2% 58.8 72.6 -19.1% Sailed miles YTD 363,637 380,660 Uitilization (headhaul) - Cont. Liner 83% 85% Liner Forwarding Logistics and agency Elimination Total
Page 36
37 Container liner analysis Lower bunker consumption per sailed mile and stable utilization 71.4 71.0 68.9 67.4 66.5 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 763 763 751 741 734 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 LTM bunker consumption development Metric ton (‘000) LTM sailed miles development Thousand Miles (‘000) 85% 81% 82% 83% 84% 65% 60% 60% 62% 61% Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Headhaul Full units Roundtrip Vessel utilization
Page 37
38 Drewry World Container Index USD/40ft container Source: Drewry WCI – 1 January 2021 to 13 August 2026 0 2,000 4,000 6,000 8,000 10,000 12,000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3.... 2021 2022 2023 2024 2025 2026 World Index RTM-NY NY-RTM
Page 38
39 Balance sheet and cash flow EURm 30.06.2026 31.12.2025 Change Non-current assets 492.1 466.0 26.1 Fixed assets 304.1 298.4 5.7 Right-of-use assets 118.5 105.6 12.9 Other non-current assets 69.5 61.9 7.6 Current assets 217.6 173.0 44.6 Trade and other receivables 180.6 137.3 43.3 Other current assets 12.6 10.0 2.6 Cash and cash equivalents 24.4 25.7 -1.3 Assets 709.7 639.0 70.7 Equity 295.3 298.0 -2.7 Non-current liabilities 223.7 214.9 8.8 Loans and borrowings 118.2 124.7 -6.5 Lease liabilitites 100.9 83.3 17.6 Other non-current liabilitites 4.6 6.9 -2.3 Current liabilities 190.7 126.1 64.6 Loans and borrowings 37.6 16.1 21.5 Lease liabilities 21.4 24.0 -2.6 Trade and other payables 129.5 84.3 45.2 Shareholders distribution payables 0.0 0.0 0.0 Income tax payable 2.2 1.7 0.5 Liabilities 414.4 341.0 73.4 Equity and liabilitites 709.7 639.0 70.7 EURm Q2 2026 Q2 2025 Change EBITDA 21.3 21.2 0.1 Working Capital changes and other adjustments 1.5 5.4 -3.9 Paid taxes 0.1 -2.8 2.9 Maintenance Capex -9.2 -8.7 -0.5 Cash Flow from operations 13.7 15.1 -1.4 Debt repayments & interest -6.5 -7.2 0.7 Repayment of lease liabilities -7.4 -9.2 1.8 Cash Flow after debt and lease service -0.2 -1.3 1.1 Other investment -4.1 2.2 -6.3 Change in loan facilities 9.4 19.7 -10.3 Free cash flow to equity 5.1 20.7 -15.6 Dividend to minority 0.0 -0.2 0.2 Dividend paid to equity holders of the Company -4.8 -15.3 10.5 Share buy-back 0.0 0.0 0.0 Change in Cash 0.3 5.2 -4.9 Effects of exchange rate fluctuations on cash held 0.0 -2.9 2.9 Cash position at end of period 24.4 29.9 -5.5
Page 39
40 Key figures by quarter Financial numbers in EURm Operating results Q2 2026 Q1 2026 FY 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2025 FY 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Revenue 225.4 191.7 807.5 198.5 205.4 202.3 201.3 847.1 227.2 219.0 207.1 193.8 Expenses 204.1 182.5 737.8 185.7 185.0 181.1 186.0 749.3 200.0 186.1 183.6 179.5 Salaries and related expense 42.6 40.9 163.2 41.0 39.3 42.2 40.7 151.4 39.7 36.3 37.9 37.5 EBITDA 21.3 9.3 69.7 12.7 20.4 21.2 15.3 97.8 27.1 32.9 23.5 14.2 EBIT 6.7 -4.8 9.2 -1.4 5.9 5.7 -1.0 34.9 8.6 18.7 8.6 -0.9 Net earnings for the period 5.5 -4.7 9.3 0.0 5.6 4.5 -0.8 30 7.3 14.3 7.9 0.5 EBITDA ratio 9.4% 4.9% 8.6% 6.4% 9.9% 10.5% 7.7% 11.5% 11.9% 15.0% 11.3% 7.3% EBIT ratio 3.0% -2.5% 1.0% -0.7% 2.9% 2.8% -0.5% 4.1% 3.8% 8.5% 4.1% -0.5% Profit ratio 2.4% -2.5% 1.2% 0.0% 2.7% 2.2% -0.4% 3.5% 3.2% 6.5% 3.8% 0.3% Earnings per share (in EUR) 0.033 -0.028 0.059 0.001 0.034 0.028 -0.003 0.184 0.045 0.088 0.047 0.003 Balance sheet 30.06.2026 31.03.2026 31.12.2025 31.12.2025 30.09.2025 30.06.2025 31.03.2025 31.12.2024 31.12.2024 30.09.2024 30.06.2024 31.03.2024 Assets 709.7 659.9 638.9 638.9 654.3 675.1 662.9 667.3 667.3 655.4 648.1 631.4 Equity 295.3 289.7 298.0 298.0 301.5 296.7 296.9 316.9 316.9 306.2 293.5 285.7 Liabilities 414.4 370.2 341.0 341.0 352.8 378.4 366.0 350.4 350.4 349.1 354.6 345.7 Interest-bearing debt 278.1 257.3 248.1 248.1 253.6 267.8 249.2 253.1 253.1 241.4 248.6 225.1 Loans and borrowings 155.8 150.6 140.8 140.8 143.6 154.0 138.9 139.9 139.9 144.1 143.5 127.1 Lease liabilities 122.3 106.7 107.3 107.3 110.0 113.7 110.3 113.3 113.3 97.3 105.1 98.0 Net debt 253.7 233.2 222.5 222.5 217.6 237.3 220.6 223.2 223.2 215.6 221.3 196.2 Equity ratio 41.6% 43.9% 46.6% 46.6% 46.1% 43.9% 44.8% 47.5% 47.5% 46.7% 45.3% 45.2% LTM return on equity 2.2% 1.8% 3.0% 3.0% 5.5% 8.6% 9.9% 9.5% 9.5% 10.0% 11.3% 15.0% Leverage ratio 3.98 3.67 3.19 3.19 2.58 2.45 2.23 2.28 2.28 2.31 2.33 1.85 Cash flow Q2 2026 Q1 2026 FY 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2025 FY 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Net cash from operating activities 18.9 5.1 56.8 13.4 5.9 20.1 17.3 66.9 27.3 13.2 21.3 5.1 Cash and cash equivalents at the end of the period 24.4 24.1 25.7 25.7 35.5 29.9 27.6 28.7 28.7 24.4 25.7 27.0 New investments 1.8 2.8 9.2 3.8 1.6 1.9 1.9 11.4 3.0 2.7 4.6 1.0 Maintenance capex 9.2 5.8 35.1 12.5 8.8 8.7 5.1 26.9 8.0 6.5 7.0 5.3 Distribution to shareholders 4.8 - 15.3 - - 15.3 - 24.8 - - 24.8 - Share buy back - 0.7 3.9 3.8 0.1 - - 1.3 - - - 1.3
Page 40
41
Page 41
Disclaimer Information contained in this presentation is based on sources that Eimskipafélag Íslands hf. (“Eimskip“ or the ”Company“) considers reliable at each time. Its accuracy or completeness can however not be guaranteed. Copyright of information contained in this presentation is owned by Eimskip. This presentation, including information contained therein, may not be copied, reproduced or distributed in any manner, neither wholly nor partly. This presentation is solely for information purposes and is not intended to form part of or be the basis of any decision making by its recipients. Nothing in this presentation should be construed as a promise or recommendation. Eimskip is not obliged to provide recipients of this presentation any further information on the Company or to make amendments or changes to this publication should inaccuracies or errors be discovered or opinions or information change. Statements contained in this presentation that refer to the Company’s estimated or anticipated future results or future activities are forward-looking statements which reflect the Company’s current analysis of existing trends, information and plans. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially depending on factors such as the availability of resources, the timing and effect of regulatory actions and other factors. Eimskip undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this presentation. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. All forward-looking statements are qualified in their entirety by this cautionary statement. By the receipt of this presentation the recipient acknowledges and accepts the aforesaid disclaimer and restrictions.