Investor Presentaiton
ISI
ICELAND
SEAFOOD
Q2 2021
Presentation to Investors
and Analysts
Private placement of ISK3.4bn, 4 year
unsecured bond completed in Q2 further
improves funding flexibility and headroom
€ m's
€ m's
Fixed assets
Leased assets
Intangible assets
30.6.2021 31.12.2020 Variance
30.6.2021 31.12.2020 Variance
26.6
24.6
2.0
Total Equity
78.9
75.3
3.6
1.7
1.7
Thereof minority interest
0.1
0.1
52.6
52.7
(0.1)
Long term borrowings
38.2
22.8
15.4
Deferred tax/other
3.3
3.1
0.2
Lease liabilities
1.3
1.4
(0.1)
Non Current Assets
84.2
82.1
2.1
Obligations/Deferred tax
2.6
2.5
0.2
Inventory
83.1
80.9
2.2
Non Current Liabilities
42.2
26.7
15.5
Trade and other receivables
60.6
48.8
11.8
Short term borrowings
73.4
89.0
(15.5)
Other assets
8.0
6.4
1.6
Trade and other payables
46.5
39.3
7.2
Bank deposits
13.3
23.3
(10.0)
Other current liabilities
8.1
11.2
(3.1)
Current Assets
165.0
159.3
5.6
Current liabilities
128.1
139.5
(11.4)
249.2
241.5
7.7
Total Equity and Liabilities
249.2
241.5
7.7
Total Assets
Inventories €2.2m higher than at year
beginning due to seasonality but have
decreased by 6.8m during Q2.
Inventories have come down both in UK
and Spain in the quarter, but are still
higher than normal,
Net debt at end of June €98.3m, €9.8m
higher than year beginning driven by
higher receivables due to improved
sales,
Cash position is normalizing with
deposits in Spain being utilized in the
Trade receivables €11.8m higher than at operation,
beginning of the year, reflecting
increased sales. Collections remains
good, around 90% of Group receivables
insured at end of June,
deposits) is around €62m at end of June,
Private placement of ISK3.4bn (€23.1m) 4 Group funding headroom (including bank
years unsecured bond completed in June.
The issuance marks a milestone for the
Icelandic Capital Market. The bond is
listed on Nasdaq Iceland,
Two offerings of 6 months bills for
ISK1.5bn each completed in the 1H 2021.
Total fixed amount of bills at end of June.
amounts to €19.4m,
Total equity of €78.9m at end of June,
has increased by €3.6m from year
beginning, resulting in equity ratio of
31.7%.
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