Investor Presentaiton
ICELAND
ISI SEAFOOD
Q4 2022
Presentation to Investors
and Analysts
Overall good performance of the
division during 2022, normalised
PBT of €11.1m for the year
€ m's
Q4 22
Q4 21
FY 22
FY 21
Sales
53.4
57.3
216.5
181.5
Net margin
8.9
11.8
32.7
28.6
Normalised EBITDA
3.3
5.7
14.1
14.7
Normalised PBT*
2.4
5.4
11.1
13.9
*Normalised PBT represents Profits before tax before allowing for significant items.
** Ahumados Domignuez in the figures from Q4 21
Full Year sales are up 11% on
like for like basis but 9%
decrease in volume
•
Demand slowed down in Q4,
impacted by diminishing consumers
purchasing power and high seafood
prices,
Christmas sales at Ahumados
Dominguez (AD) were below
expectations, impacted by the
economic situation and high prices,
Sales growth during the year is
entirely driven by price increases.
Volume declined by 9% on like-for-
like basis, i.e., excluding AD,
> VA S-Europe
> VA N-Europe
> Sales & Distribution
Normalised PBT of €11.1m,
down €2.8m from 2021
•
.
•
Overall good results of IS Iberica, although
slower sales in the critical Q4 impacted the
results negatively. After solid margins in the
year's first half, higher input costs have
negatively impacted profits, especially in
Q4,
Difficult 1H of the year for Ahumados
Dominguez due to unprecedented increase
in salmon prices. Results normalised in the
year's second half, but sales and margins.
from Christmas sales were below
expectations,
Good shrimp production at Achernar at the
back end of the year. Although market
conditions remain challenging, there are
positive results from the current Rawson
season.
14View entire presentation