Icelandair Business Services AS
Revenue, profit and employees, 2019–2025
| Year | Revenue (müügitulu) | Operating profit (ärikasum) | Net profit | Equity (omakapital) | Employees, FTE |
|---|---|---|---|---|---|
| 2019 | €1,936,012 | €252,149 | €176,170 | €458,900 | 50 |
| 2020 | €1,670,785 | €98,633 | €66,221 | €352,073 | 47 |
| 2021 | €1,712,429 | €141,638 | €136,831 | €488,904 | 44 |
| 2022 | €2,058,947 | €176,573 | €141,696 | €437,298 | 45 |
| 2023 | €2,212,608 | €65,261 | €34,498 | €351,396 | 50 |
| 2024 | €2,301,768 | -€10,646 | -€46,520 | €201,676 | 50 |
| 2025 | €2,565,182 | -€3,942 | -€17,052 | €184,624 | 54 |
Balance sheet summary
| Year | Cash | Total assets | Current liabilities | Non-current liabilities | Equity |
|---|---|---|---|---|---|
| 2019 | €179,775 | €662,644 | €203,744 | — | €458,900 |
| 2020 | €369,049 | €966,896 | €359,168 | €255,655 | €352,073 |
| 2021 | €446,956 | €940,209 | €321,459 | €129,846 | €488,904 |
| 2022 | €468,347 | €887,328 | €450,030 | €0 | €437,298 |
| 2023 | €387,587 | €1,071,141 | €422,043 | €297,702 | €351,396 |
| 2024 | €150,430 | €818,287 | €460,114 | €156,497 | €201,676 |
| 2025 | €207,139 | €760,625 | €571,175 | €4,826 | €184,624 |
Calculated ratios
- Net profit margin (2025)-0.7%
- Equity ratio (2025)24.3%
- Revenue per employee (2025)€47,503
- Revenue CAGR (2019–2025)4.8%
Net profit margin = net profit ÷ revenue. Equity ratio = equity ÷ total assets. Seedata sources & methodology for how each figure is derived.
Quarterly tax and turnover data (EMTA)
| Quarter | State taxes paid | Wage taxes | Turnover | Employees |
|---|---|---|---|---|
| 2022 Q1 | €105,927 | €113,054 | €427,948 | 45 |
| 2022 Q2 | €121,628 | €129,021 | €488,647 | 50 |
| 2022 Q3 | €170,185 | €145,430 | €538,636 | 50 |
| 2022 Q4 | €139,057 | €146,110 | €563,754 | 53 |
| 2023 Q1 | €172,733 | €183,255 | €566,997 | 50 |
| 2023 Q2 | €155,461 | €164,950 | €584,707 | 55 |
| 2023 Q3 | €170,529 | €180,890 | €575,584 | 52 |
| 2023 Q4 | €194,534 | €179,239 | €545,421 | 51 |
| 2024 Q1 | €169,748 | €175,602 | €560,727 | 51 |
| 2024 Q2 | €169,194 | €177,922 | €553,512 | 52 |
| 2024 Q3 | €179,698 | €188,685 | €593,433 | 53 |
| 2024 Q4 | €204,718 | €196,126 | €600,219 | 52 |
| 2025 Q1 | €200,346 | €207,820 | €599,450 | 52 |
| 2025 Q2 | €202,536 | €211,759 | €629,467 | 57 |
| 2025 Q3 | €211,546 | €224,461 | €671,062 | 57 |
| 2025 Q4 | €218,316 | €231,648 | €660,060 | 57 |
| 2026 Q1 | €214,002 | €224,297 | €748,308 | 60 |
| 2026 Q2 | €222,170 | €235,241 | €842,703 | 59 |
Source: EMTA quarterly published data, as of 10 July 2026. Covers state taxes and wage taxes actually paid and turnover and employee counts as declared by the company, not the annual report figures above.
About this data
In the 2025 financial year (period 1 January 2025–31 December 2025), Icelandair Business Services AS reported revenue of €2,565,182.
The company recorded a net loss of €17,052 in the 2025 financial year.
Revenue increased by 11.4% from €2,301,768 in 2024 to €2,565,182 in 2025.
Revenue grew at a compound annual rate of 4.8% between 2019 and 2025.
Equity accounted for 24.3% of total assets of €760,625 at the end of the 2025 reporting period.
With 54 full-time-equivalent employees in 2025, revenue per employee was €47,503.
Across the 4 most recent quarters declared to EMTA, up to Q2 2026, Icelandair Business Services AS reported €2,922,133 in turnover.
EMTA recorded 59 employees for the quarter ending Q2 2026, compared with 54 full-time-equivalent employees in the 2025 annual report.
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Source
Source: Estonian e-Business Register open data (Centre of Registers and Information Systems, RIK), licence CC BY-SA 4.0, modified; Estonian Tax and Customs Board (EMTA) quarterly data. Downloaded 2026-09-22. This is not an official register extract — see ariregister.rik.ee.
Company data on this site is available under CC BY-SA 4.0.
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