Iceland Seafood Q1 2023 Investor Presentation
ICELAND
ISI SEAFOOD
Q1 2023
Presentation to Investors
and Analysts
Inflation and high volatility continued to impact
Iceland Seafood's operation negatively in Q1 22
A more balanced external environment is on the horizon.
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Price of key groundfish species has remained high but stable at the beginning
of 2023. Prices of various other species (e.g. Argentinean shrimp) have declined,
Steep price increases of salmon severely impacted the results of Iceland
Seafood's operation in Ireland and Ahumados Dominguez in Spain during Q1.
Prices have come down in Q2 and are expected to ease further with increased
supply in the coming months,
Customers in retail and food service customers have pushed through
significant cost increases to consumers. These price increases have negatively
impacted demand, at least in the short term,
Price volatility, higher financing and storage costs make it more costly and risky
to keep inventories. This improves Iceland Seafood's competitiveness in areas
where our market position and access to resource is strong,
Prices of some essential input factors have eased and stabilized during the last
months. A more balanced external environment is on the horizon after a highly
volatile and disruptive period since the beginning of Covid-19,
Salmon prices have topped and will ease
considerably in the coming months according to
current forward prices
€ 14,00
€ 12,00
€ 10,00
€ 8,00
€ 6,00
€ 4,00
Salmon Pricing
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It is likely that value-added production will move closer to consumers.
Processing in Europe will become more competitive, where automation and
investments in production efficiencies will play a key role.
€ 2,00
€ -
The operation of Iceland Seafood is well-balanced and in good position with its
solid sourcing base and value-added operations close to key markets.
LO
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Source:www.fishpool.eu
2021
2022
2023
....2023 ForecastView entire presentation