Investor Presentaiton
ISI
ICELAND
SEAFOOD
Q4 2020 Results
Presentation to Investors
and Analysts
Solid results despite reduction in
sales
> VA S-Europe
> VA N-Europe
> Sales & Distribution
€ m's
Q4 20
Q4 19
12M20
12M 19
Sales
36.1
47.5
145.4
194.0
Net margin
1.8
2.1
6.3
8.1
Normalised EBITDA
0.7
0.6
1.8
2.3
Normalised PBT*
0.7
0.6
1.6
1.9
* Normalised PBT represents Profits before tax before allowing for significant items.
FRESH FILLETS (€/KG)
Solid results despite
reduction in sales
Sales in Q4 were 24% down on prior
year and FY sales 25% down,
More strict lockdown measures in
key markets impact sales in Q4,
after a positive development in Q3,
Fresh fish sales have been strong
through the pandemic, despite
ongoing logistics challenges,
Seafrozen sales have also remained
good, especially into the UK fish and
chips market.
FROZEN AT SEA FILLETS (€/KG)
Q4 showing slight
increase in Normalised
PBT from Q4 2019
.
Divisional FY net margin €1.8m
down on prior year, due to lower
sales,
Overhead costs are €1.2m down
on prior year. Various actions have
been taken to reduce costs. The
depreciation of ISK has also
reduced costs in Iceland,
With further €0.2m positive.
development in finance cost, the
resultant Normalised PBT of €1.6m is
only €0.3m down from 2019.
Saithe
Haddock
Cod
Saithe
Haddock
Cod
16
6
8,8
13,5
14
12,4 12,9 12,9
12
11,6
12,4
11
8
12
7,1
6,9
12
10,6
10,3
12,7
11,7
12,2
7
12,3
10
12,4
10,2
7,1
11,2
11,5
9,5
6
14
10,5
6,7
7,4
6,5
6,5
6,4
6,3
5,5
5,6
6,6
6,6
8
9,7
10,4
4,7
10,2
9
36
6
5
5
4,1
6
4,6 4,7
5,2
4,1
5,2
5,3
4,1
53
6,5
6,3
6,3
5,3
5,5
5,5
3,5
4
3,5
4,7
6,2
6,2
4
5,7
5,5
3
3,5
3,4
2,9
2,8
2,8
2,7
2,7
2
3,3
Jan
Feb
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2
Jan
Feb March
April
May
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Dec
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