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Investor Presentaiton

ICELAND ISI SEAFOOD Q4 2022 Presentation to Investors and Analysts Inventories €28.7m higher than in beginning on like-for-like basis, driven by price increases € m's Fixed assets Leased assets Intangible assets. 31.12.2022 31.12.2021 Variance € m's 31.12.2022 31.12.2021 Variance 27.6 36.7 (9.0) Total Equity 81.4 91.7 (10.4) 1.7 1.9 (0.2) Thereof minority interest 2.0 2.3 (0.3) 56.7 58.7 (2.0) Long term borrowings 32.5 40.3 (7.8) Deferred tax/other 2.4 4.9 (2.5) Lease liabilities 1.4 1.5 (0.1) Non-Current Assets 88.5 102.2 (13.7) Obligations/Deferred tax 3.3 3.6 (0.3) Inventory 86.0 77.3 8.7 Non-Current Liabilities 37.2 45.3 (8.1) Trade and other receivables 62.5 65.7 (3.2) Short term borrowings 72.1 81.6 (9.5) Other assets 9.8 7.6 2.2 Trade and other payables 52.5 52.2 0.3 Bank deposits 11.1 27.8 (16.7) Other current liabilities 10.8 9.7 1.1 Current Assets 169.4 178.4 (9.0) Current liabilities 135.4 143.5 (8.1) Assets classified as held for sale Total Assets 32.5 32.5 290.3 280.6 9.7 Liab. associated w. assets held for sale Total Equity and Liabilities. 36.4 36.4 290.3 280.6 9.7 Assets and liabilities related to IS UK are classified as held for sale on 31.12.2022 by IFRS 5, but are included in the 2021 balance sheet figures, Impairment of goodwill, property and deferred tax assets at IS UK of €3.4m in total, reflected in the year-end balance sheet as Assets held for sale, Inventories are €8.7m higher than at the year beginning and €28.7m higher on like-for-like basis (i.e. excluding IS UK for 2021 comparison). The value of inventories in the S- Europe division is €24.1m higher than at the year beginning, driven by price. increases, Accounts receivables have increased by €2.5m on like-for-like basis. At the end of the year, 74% of Group receivables are insured, Cash position decreased by €16.7m from year-end 2021. 18 A loan agreement of €20m with Arion banki was extended for three years in April 2022. The bank is providing funding to the S&D division, Two offerings of 6 months' bills for ISK 2.120 million in total outstanding at the end of December, Net debt, excluding IS UK, of €93,6m at the end of the year increased by €28.2m from the year beginning, driven by an increase in working capital. Funding headroom of €31.7m at the end of December, including cash, Total equity of €81.4m and an equity ratio of 28.0% at the end of the year compared to 32.7% at the end of 2021.
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