Hampiðjan recorded revenues of €184.8 million in the first half of 2025, up 16.8% from the same period last year. Operating profit before depreciation and special items (EBITDA) rose 23.1% to €24.2 million.
Adjusted for one-off costs from the purchase of a majority stake in Indian firm Kohinoor, EBITDA reached €24.7 million — a 25.7% rise.
Net profit from continuing operations after tax was €7.0 million, down from €7.7 million a year earlier. Adjusted profit came to €7.4 million.
Restructuring costs weigh on profit.
The company has begun restructuring production, with significant parts of its Danish and Polish operations classified as discontinued. This led to one-off expenses, resulting in a lower overall profit of €5.2 million, compared with €8.2 million in the first half of 2024. Adjusted profit was €5.6 million.
At the end of June, Hampiðjan’s total assets were €539.6 million. Interest-bearing debt stood at €212.6 million, while cash holdings fell to €31.6 million from €41.4 million at the end of 2024. The equity ratio was 50.0%, down from 53.6%.
CEO: Strong core, external headwinds remain
CEO Hjörtur Erlendsson said results were “good” with strong turnover growth. He highlighted the impact of Kohinoor and Norwegian Fiizk Protection acquisitions, which significantly lifted sales. Without them, group sales rose by 2.4%. Erlendsson’s positive outlook is a testament to Hampiðjan’s potential for future growth.
Erlendsson also pointed to the war in Ukraine, which has affected fishing gear markets in the U.S. and northern Norway, as well as quota cuts in the Barents Sea. These geopolitical and regulatory factors have led to a decrease in demand for our products and a shift in our operational focus.
He emphasised that the company’s core operations remain robust, although foreign exchange losses, lower interest income, and discontinued activities impacted earnings.