Investor Presentaiton
ISI
ICELAND
SEAFOOD
Q2 2020 Results
Presentation to Investors
and Analysts
Liquidity improved by new €17.5m long term
financing with Spanish banks
€ m's
Fixed assets
Leased assets
Intangible assets
30.6.2020 31.12.2019 Variance
€ m's
30.6.2020 31.12.2019
Variance
22.5
17.6
4.9
Total Equity
82.8
80.2
2.6
2.3
2.7
(0.4)
Thereof minority interest.
4.0
3.8
0.2
48.6
44.7
3.9
Long term borrowings.
24.6
8.0
16.6
Deferred tax/other
2.7
3.1
(0.4)
Lease liabilities
1.7
2.1
(0.4)
Non Current Assets
76.1
68.1
8.0
Obligations/Deferred tax
1.9
2.1
(0.2)
Inventory
89.6
65.1
24.5
Non Current Liabilities
28.2
12.2
16.0
Trade and other receivables
48.3
62.3
(14.0)
Short term borrowings
77.2
67.2
10.0
Other assets
7.5
4.4
3.1
Trade and other payables
44.0
42.2
1.8
Bank deposits and cash
16.1
9.6
6.5
Other current liabilities
5.4
7.7
(2.3)
Current Assets
161.5
141.4
20.1
Current liabilities
126.6
117.1
9.5
Total Assets
237.6
209.5
28.1
Total Equity and Liabilities
237.6
209.5
28.1
Total assets €28.1m higher than
at year beginning driven by:
•
•
•
Acquisition of Elba
Investments in UK
Higher stock levels, in Spain
and UK
Net debt at end of June of
€85.7m were €20.1m higher than
at year beginning, driven by higher
stock levels, investments in UK
and acquisition of Elba.
Equity ratio of 35% compared to
38% at year beginning.
Actions taken to improve liquidity.
New long-term financing of
€17.5m secured with a group of
Spanish banks, resulting in strong
cash position.
Group funding headroom
(including cash) of €34m at end
of June.
Tightening of risk management
controls, especially around
receivables and inventories.
Receivables contract in line with
lower revenues.
Around 86% of receivables credit
insured at end of June.
Inventories consist of frozen and
salted products with long shelf
life.
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