SKEL aims to be a strategic investor and thereby to provide support and assistance to the companies, management teams and entrepreneurs in which the Company decides to invest from time to time. In 2023, the company continued to grow and develop its portfolio across various sectors, including business services, consumer market, financial market, and real estate market.
Cyborg Score Rationale
SKEL made a profit of 5.4 billion ISK in 2023 with a return on equity of 16.4%. The company demonstrates strong execution through diversified portfolio investments and strategic acquisitions (Styrkás, Samkaup) positioning for long-term growth and planned market exits.
Top Insights
SKEL completed the purchase of share capital in Samkaup as of July 2025, establishing major consumer sector presence
Styrkás group (45.7% SKEL ownership) recorded first nine months 2025 revenue of ISK 47B with combined annual revenue expected to reach nearly ISK 70B following infrastructure acquisitions
Styrkás shares are expected to be listed on Nasdaq Iceland Main Market in 2027, representing planned liquidity event
Disciplined portfolio approach focused on infrastructure, energy transition, and business services with strategic emphasis on reducing fossil fuel exposure
Named Competitors
Private Equity/Venture Capital — Co-investor in Styrkás, alternative Icelandic investment vehicle
Regional Investment Companies — Comparable diversified investment portfolios in Nordic region
Recent Developments
(Nov 2025) Styrkás signed acquisition agreement for Hreinsitækni and HRT Þjónusta (environmental/infrastructure services)
(Jul 2025) Completed acquisition of share capital in Samkaup consumer retail business
(Aug 2025) Published H1 2025 interim financial results with highlights of company operations
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