Investor Presentaiton
ISI
ICELAND
SEAFOOD
Q4 2020 Results
Presentation to
Investors and Analysts
Ongoing Covid19 uncertainty
.
Outlook range for Normalised PBT €12.0-17.0m,
assuming Covid19 restrictions will be lifted in
key markets in middle of the year
Strong start of 2021, especially in Argentina and Ireland.
Sales and profitability in S-Europe and UK foodservice
impacted by the pandemic, as expected.
Cost of merger in UK higher than anticipated significantly
impacted Q4 results. Without these impacts the outlook
target of €6.0m would have been reached,
Estimated Covid19 impact on the Group 2020 profit before
tax in the range of €10-12m. The impact on 2021 sales
and profitability will depend on development of the
pandemic restrictions and pace of vaccination,
Outlook is based on the assumption that 1H of the year
will be impacted by the pandemic and restrictions in key
markets to control the outbreak. Normalised situation
assumed from mid year,
Significant steps taken during 2020 to enhance future.
profit Growth post pandemic,
Current outlook range for 2021 Normalised PBT €12.0-
17.0m. Outlook range will be narrowed as less ambiguity
will be on Covid19 development,
Based on Outlook, the Group will reach a run rate of
annual Normalised PBT in excess of €20m post the
pandemic.
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
key markets,
Changes in underlying global economic conditions,
currency rates, import duty rates, competition and
consumer behaviours,
Political uncertainty, for example in Argentina, USA
and UK related tariffs,
2,9
1,7
1,3
1,0
Full year
Normalised PBT* (m's)
3,5
3,3
7,4
17,0
11,3
12,0
5,1
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.
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