Investor Presentaiton
ICELAND
ISI SEAFOOD
Q3 2021
Presentation to Investors
and Analysts
.
Outlook range unchanged. UK continues to make
losses, but offset by stronger operating income in
other divisions
Strong performance of VA S-Europe, with positive market
conditions for both Icelandic light salted cod and Argentinian
Shrimp,
Costs of integrating and stabilizing operations in UK still
impacting results negatively in Q3. Actions have been taken to
pass on increased costs, at the same time new agreements
have been secured with both current and new customers,
Covid19 restrictions have been eased in key markets which
has helped sales to foodservice and HORECA customers. The
sector has however not fully recovered,
Based on the assumption that Covid19 related factors will not
further impact the Group negatively in key markets, the
Outlook range for 2021 Normalised PBT is kept at €12.0 -
16.0m,
The level of uncertainty remains high, both in relation to
Covid19 development and other key external factors.
Disruptions on supply chains will continue to impact
transportation and logistic costs,
December is a key sales month for salmon in Ireland and
Spain, as well as key harvesting period in Argentina,
In addition to the Covid19 uncertainty, Group
results are influenced by various other external
factors such as:
•
•
Fishing and quota changes as well as price
development and ability to pass on price changes in
the value chain,
Changes in underlying global economic conditions,
currency rates, import duty rates, access and cost of
labour, competition and consumer behaviours,
Political uncertainty, for example in Argentina and UK
(related to tariffs),
2,9
1,7
1,3
1,0
Full year
16,0
Normalised PBT* (m's)
3,5
3,3
7,4
11,3
12,0
5,1
Major marketing campaign to promote Ahumados Dominguez
brand will be conducted in December,
Based on Outlook, the Group will reach a run rate of annual
Normalised PBT in excess of €20m post the pandemic.
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
With recent investments and projects that will increase efficiency and drive profit growth, the Group is in strong position to reach it's
target of Normalised PBT in excess of €20m post the pandemic.
16View entire presentation