Hagar Group Reports $27M Profit Boost from Bonus Stores
Iceland's Hagar Group posted 3.7 billion krónur ($27M) profit in H1 2025, boosted by Bonus supermarkets and Olís stations. The retail giant saw profit margins expand to 24.5% as it integrates Faroese acquisition SMS.
Hagar Group recorded 3.7 billion Icelandic krónur in profits during the first half of its fiscal year. The Icelandic retail giant operates popular chains including Bonus discount supermarkets, Hagkaup department stores, and Olís gas stations.
This represents substantial growth from the same period last year when profits reached 2.6 billion krónur. The company's CEO stated operations are performing strongly, with second-quarter revenue exceeding expectations.
Gross profit margin climbed to 24.5% during the six-month period, up from 21.7% a year earlier. The reporting period covers March 1 through August 31, 2025.
Profit represented 3.7% of turnover in the first half, compared to 2.8% last year. Hagar's equity stood at 39.3 billion krónur at the end of August, with an equity ratio of 36.3%.
The company integrated Faroese retail chain SMS during the fourth quarter of 2024/25, which affected comparative figures. Without the SMS acquisition, the gross margin would have measured 23.9%.
Management attributed the strong performance primarily to successful operations at Olís fuel stations. The recently acquired SMS chain in the Faroe Islands also delivered positive results, alongside robust demand in the grocery market.
Hagar's expansion strategy appears to be paying off, though international readers should note that 3.7 billion ISK equals approximately $27 million USD. The company continues to dominate Iceland's retail landscape while expanding its Nordic footprint.