Iceland Seafood International lowers its 2026 profit outlook to EUR 8.5-10.5 million, citing trawler breakdowns in Argentina and a EUR 0.5 million bad debt in France.
The company cut its 2026 Normalised PBT outlook to EUR 8.5-10.5 million from EUR 11.5-13.5 million, a reduction of roughly EUR 3 million at the midpoints, driven by trawler breakdowns and weaker land-based operations in Argentina plus a bad debt of about EUR 0.5 million in France. A guidance cut of this size is a clear negative surprise for the shares. With Q4 being the most important quarter, the final outcome remains uncertain within the lowered range.
Iceland Seafood International has lowered its 2026 Normalised Profit Before Tax guidance to a range of EUR 8.5-10.5 million, down from the previous forecast of EUR 11.5-13.5 million. The revision follows operational setbacks in Argentina, including freezer trawler breakdowns, and a EUR 0.5 million bad debt in France.
The Normalised Profit Before Tax forecast was lowered to EUR 8.5-10.5 million, down from the previously published EUR 11.5-13.5 million, making it comparable to the 2025 result.
Mainly weaker-than-expected operations in Argentina, where freezer trawler breakdowns led to lower catches and weaker land-based performance, plus a bad debt of about EUR 0.5 million in the French operations.