Icelandair Group Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Revenue	1,644	1,496	1,450	1,197	496.54
Other Revenue	86.67	73.76	73.36	65.97	80.13
Revenue	1,731	1,569	1,523	1,263	576.67
Revenue Growth (YoY)	10.29%	3.05%	20.59%	119.00%	35.46%
Cost of Revenue	972.78	892.97	861.28	760.21	450.94
Gross Profit	758	676.34	661.59	502.68	125.73
Selling, General & Admin	25.63	24.1	25.24	24.46	13.28
Other Operating Expenses	585.91	513.68	480.58	342.73	143.5
Operating Expenses	785.35	691.85	641.3	486.06	269.92
Operating Income	-27.35	-15.51	20.29	16.62	-144.18
Interest Expense	-48.4	-41.06	-40.7	-27.1	-20.78
Interest & Investment Income	34.75	31.5	27.31	8.85	4.32
Earnings From Equity Investments	3.61	0.67	-0.93	1.85	-3.85
Currency Exchange Gain (Loss)	6.92	-1.71	-0.26	-5.49	8.92
Other Non Operating Income (Expenses)	-	-	-	-0.58	8.18
EBT Excluding Unusual Items	-30.47	-26.11	5.71	-5.86	-147.39
Gain (Loss) on Sale of Assets	10.11	1.3	2.08	6.04	17.33
Pretax Income	-20.36	-24.81	7.79	0.18	-130.06
Income Tax Expense	-10.83	-4.64	-3.38	6	-25.26
Earnings From Continuing Operations	-9.53	-20.17	11.17	-5.82	-104.8
Minority Interest in Earnings	0.2	-0.39	-0.44	-2.64	0.5
Net Income	-9.33	-20.56	10.73	-8.46	-104.3
Net Income to Common	-9.33	-20.56	10.73	-8.46	-104.3
Shares Outstanding (Basic)	41,120	41,120	41,120	38,807	31,606
Shares Outstanding (Diluted)	41,120	41,120	41,382	38,807	31,606
Shares Change (YoY)	-	-0.63%	6.63%	22.79%	162.20%
EPS (Basic)	-0.00	-0.00	0.00	-0.00	-0.00
EPS (Diluted)	-0.00	-0.00	0.00	-0.00	-0.00
Free Cash Flow	202.21	110.7	81.27	-120.94	-119.49
Free Cash Flow Per Share	0.01	0.00	0.00	-0.00	-0.00
Gross Margin	43.80%	43.10%	43.44%	39.80%	21.80%
Operating Margin	-1.58%	-0.99%	1.33%	1.32%	-25.00%
Profit Margin	-0.54%	-1.31%	0.70%	-0.67%	-18.09%
Free Cash Flow Margin	11.68%	7.05%	5.34%	-9.58%	-20.72%
EBITDA	75.01	81.59	105.41	97.57	-53.52
EBITDA Margin	4.33%	5.20%	6.92%	7.73%	-9.28%
D&A For EBITDA	102.36	97.1	85.12	80.95	90.66
EBIT	-27.35	-15.51	20.29	16.62	-144.18
EBIT Margin	-1.58%	-0.99%	1.33%	1.32%	-25.00%
Effective Tax Rate	-	-	-	3350.84%	-
Revenue as Reported	1,741	1,571	1,524	1,265	584.91
Advertising Expenses	25.63	24.1	25.24	24.46	13.28

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.