Investor Presentaiton
ISI
ICELAND
SEAFOOD
Q3 2020 Results
Presentation to Investors
and Analysts
Total assets down €8m from end of June,
driven by reduction in inventory
€ m's
Fixed assets
Leased assets
Intangible assets
30.9.2020 31.12.2019
Variance
€ m's
30.9.2020 31.12.2019
Variance
21.6
17.6
4.0
Total Equity
82.4
80.2
2.2
1.7
2.7
(1.0)
Thereof minority interest.
4.2
3.8
0.4
48.3
44.7
3.6
Long term borrowings
22.4
8.0
14.4
Deferred tax/other
3.1
3.1
0.0
Lease liabilities
1.4
2.1
(0.7)
Non Current Assets
74.7
68.1
6.6
Obligations/Deferred tax
1.7
2.1
(0.4)
Inventory
78.2
65.1
13.1
Non Current Liabilities
25.5
12.2
13.3
Trade and other receivables
51.4
62.3
(10.9)
Short term borrowings
76.9
67.2
9.7
Other assets
5.9
4.4
1.5
Trade and other payables
35.1
42.2
(7.1)
Bank deposits and cash
14.1
9.6
4.5
Other current liabilities
5.8
7.7
(1.9)
Current Assets
149.7
141.4
8.2
Current liabilities
117.8
117.1
0.7
Assets classified as held for sale
Total Assets
5.2
5.2
Liabilities assets held for sale
3.9
3.9
229.6
209.5
20.1
Total Equity and Liabilities.
229.6
209.5
20.1
Stock level in S-Europe division
has reduced by €15.2m during Q3
with higher sales.
At the same time inventories in
N-Europe division increased by
€7.5m driven by new retail sales
in UK and build up of Christmas
stock in Ireland.
Following the decission to sell
Ecomsa its assets are classified
as held for sale at 30.9.2020.
Net debt at end of September of
€85.2m were €19.6m higher than
at year beginning, driven by higher
stock levels, investments in UK
and acquisition of Elba.
Equity ratio of 36% compared to
38% at year beginning.
New funding of €8.9m raised with Tightening of risk management
auction of 6-month bills in
Iceland at end of September.
Group funding headroom
(including cash) of €42m at end
of September.
controls, especially around
receivables and inventories.
Receivables contract in line with
lower revenues.
Around 82% of receivables credit
insured at end of September.
Inventories consist of frozen and
salted products with long shelf
life.
13View entire presentation