Investor Presentaiton
ISI
ICELAND
SEAFOOD
Q3 2020 Results
Presentation to Investors
and Analysts
Overall sales in Q3 only marginally
down on same period last year
€ m's
Q3 20
Q3 19
9M 20
9M 19
Sales
95.7
96.0
276.2
321.6
Net margin
7.3
8.7
22.6
28.3
Normalised EBITDA
2.0
4.3
7.7
12.2
Normalised PBT*
0.4
2.1
3.0
7.7
•
Net Profit
(0.4)
1.0
1.0
4.3
* Normalised PBT represents Profits before tax before allowing for significant items
and discontinued operations.
Overall sales in Q3
only marginally down
on last year
•
•
After significant reduction in
sales during Q2, sales recovered
gradually during the summer,
Sales in the 9M period still 14%
down on prior year,
Strong sales in retail during the
whole period. Sales into S-
European HORECA sector only
slightly down on prior year in
Q3,
Stricter Covid19 restrictions
implemented in key markets in
Q4 are impacting sales, but not
to the same extend as during
the first waive,
Forthcoming growth in Irish and
UK retail sales will create a
better balance between retail
and foodservice within the
Group.
Iceland Seafood
Group
Normalised PBT down
€4.7m on prior year
Margins impacted by price
reductions, especially in S-
Europe,
Covid19 causing supply chain
disruptions and increased costs
in our production units, which is
further impacting margins and
profit,
Overhead cost in the 9M 2020
period €1.3m lower than last
year, driven by cost synergies in
Spain, depreciation of ISK and
various actions taken to reduce
costs in all regions,
Ecomsa classified as
discontinued, €0.5m net cost in
the 9M period.
Net profit €3.3m down on last
year.
12View entire presentation