12 March 2026

Impressive operating results by Efling Union

Date

12 March 2026

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The operation of Efling union was extremely strong in the fiscal year 2025. Revenue increased by 16% year over year, profit improved by 301 million krona and the financial position of the union was considerably strengthened.


Annual report of Efling trade union for the year 2025 was approved by the board of the union today, March 12, 2026. The results of the 2025 fiscal year are extremely positive. The union is in a better position than ever before, with a strong revenue base, modest growth in operating costs and even better profitability, at the same time as purposeful development for the benefit of the members took place.


Total income of the year for the union was 1,3 billion krona, which is comparable to the income in 2024.


Significant revenue growth 


Total revenue Efling of the union amounts to 4,2 billion krona in 2025, which is 579 million krona higher than in 2024, or an increase of 15,9%. Membership fees increased by 452 million and income from holiday homes and other services also grew, reflecting both an increase in members and greater activity in the union's operations.


Despite challenges in domestic and foreign markets, among others due to high interest rates and weak yields that affected revenue, Efling has maintained its operations on a safe and positive basis. This underscores prudence, responsibility and discipline in the operation of the association.


Costs increased less than was estimated


The union's expenses, including disbursed benefits and grants, increased by 3.5 billion krona, which is an increase of 8.6%. However, the operating costs of the union's office decreased by a substantial 6 million krona year over year. This clearly shows prudence and good management of the union's operational components. Salary and staff costs rose in line with increased projects and the proliferation of permanent positions, as well as collective agreement wage increases.


In that year, numerous investments and improvements were also undertaken that strengthen the long‑term prospects of the union and improve services for members. This includes renovation of premises and development in information technology, as well as substantial upgrades to holiday houses, which contribute to better utilization and increased quality in services that will benefit the union’s members in the future.


The profit strengthens 


The operating result of the year was 722 million crowns, which is a significant improvement from 421 million in 2024. Capital income Efling was 563 million crowns. Despite market fluctuations, the capital income remained strong. The result shows that Efling responds well to a changing economic environment with targeted and responsible actions.


Assets and equity continue to grow 


Total assets increased by approximately 1.5 billion krona, or 8.9%, and reached roughly 18.2 billion krona at the end of the year. Major projects and investments in infrastructure and services are key factors in this increase.


Equity increased by 1.345 million krona, or 8.3%, and stood at the end of the year at about 17.6 billion krona. This reflects the strong financial position and sustainable operating policy of Efling trade union.


Vision and responsibility deliver results


„The results of the year reflect how we have placed a strong emphasis on responsible finance, transparency and forward‑looking decision‑making. We have worked systematically to improve internal processes, strengthen the union’s operational base and ensure better service for members. The operation is performing well but due to difficult conditions in capital markets the return on the union’s funds was below expectations,“ says Perla Ösp Ásgeirsdóttir, CEO Efling.


At the same time that the operation has been reliable, Efling has also taken targeted actions to build infrastructure for the future, strengthen services and ensure that the association stands strong against the challenges that accompany a fluctuating economic environment.


Better equipped than ever before


Financial stability, competence and progressiveness are now decisive factors in the association's activities. Efling therefore stands better positioned than ever before, financially, organizationally and service-wise, and will continue on the same path with responsibility, competence and ambition as a guiding light.


The annual report Efling is published here on the association's website and also a copy of it is available at the reception of Efling trade union, Guðrúnartúni 1, for viewing by members.


Here you can find the signed annual report Efling of the trade union for the year 2025.


By Freyr Efling 20. May 2026
Board Efling of the union has decided to fund Matthildi, an organization for harm reduction, with 1.7 million kronur. The Matthildi organization was founded in 2022 and focuses on harm‑reduction services at the early stages of substance abuse. The aim of harm reduction is to help people stay alive, protect their health, both physical and mental, and to empower them in all small steps towards positive change. Matthildi runs the harm‑reduction service Reyk. The service is free of charge for everyone and places a special emphasis on reaching people at the early stages of substance abuse, with the aim of preventing a more serious development of the problem and untimely deaths. In the period from 4 February 2025 to 31 January 2026, Reyk has provided service to 235 individuals on 1,100 occasions. Of these, 25 percent of the clients are employed, and some of them are members of Efling. These individuals struggle with substance abuse as well as poverty and difficult social circumstances. A steady increase in opioid problems has occurred over the past nearly fifteen years. In addition, problems related to cocaine use, crack and methamphetamine smoking have risen steadily over the last decade. It is very important to provide the group facing this problem with harm‑reduction services and support for recovery. The Reyk service is for many the first point of contact for assistance and provides clients with extensive support, follow‑up and connection to social and health services. Matthildi has assisted many in substance‑use treatment, opioid medication treatment and obtaining appropriate social services. In doing so, the organization has helped individuals recover and be able to keep housing, mental health and continue working.
By Freyr Efling 15. May 2026
The board of Efling union approved at its meeting on May 13 a support declaration for strike actions of Norwegian members in the cleaning sector within the sister union Norsk Arbeidsmandsforbund. In the declaration, colleagues in Norway sendr are sent struggle and solidarity greetings. The declaration follows below. The board Efling sends struggle greetings and expresses full support for the strike actions of staff in the Norwegian cleaning sector under the leadership of our sister union NAF. The members of Efling recognize the courage and the great work required to organize an effective strike. The board is also well aware of the necessity to improve the terms and conditions of workers in the cleaning sector worldwide, including in Iceland and Norway. Efling believes in the power of the union and wishes our collaborators in Norway the best possible success in their struggle. Norwegian version Efling expresses support for Norwegian colleagues in strike. The board of the Efling union adopted at its meeting on May 13 a support statement for the strike actions among Norwegian colleagues in the cleaning industry within the sister union Norsk Arbeidsmandsforbund. The declaration includes messages of struggle and solidarity to the colleagues in Norway. The declaration follows below. The board of Efling sends a greeting of full solidarity with the striking workers in the Norwegian cleaning sector, led by our sister union NAF. The members of Efling know what courage and hard work are required to organize a successful strike. The board is also aware of the need to improve the terms and conditions for workers in the cleaning industry globally, including in Iceland and Norway. Efling believes in the power of collective action and wishes our colleagues in Norway the greatest possible victory in their struggle.
By Freyr Efling 6. May 2026
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