Investor Presentaiton
ICELAND
ISI SEAFOOD
Q3 2023
Presentation to Investors
and Analysts
Operational headwinds as lowering demand and
downward price trajectory negatively impact results in
the short term
VA S-Europe
VA N-Europe
Sales & Distribution
Difficult economic situation and lowering
demand had negative impact on performance
of S-Europe division in Q3
Price reductions have negatively impacted
margins at IS Iberica in Q3. Demand has
improved from October onwards, after low
sales during the summer,
Focus on simplifying the operation of
Ahumados Dominguez and further
integration with IS Ibérica. Investments in
production to increase productivity and
reduce labour costs,
Difficult market conditions for Argentinean
shrimp during the first nine months of the
year. Outlook for the summer season, that
starts at end of November is better.
Good performance of Oceanpath in Ireland
on Q3, after difficult start of the year
Sales levels have remained at similar level
as last year in value, although volume is
slightly down,
Whitefish sourcing has improved from
September, after a challenging summer,
with low availability and high prices,
Continuing focus on integration between.
operation in Dublin and Killala,
Outlook for the important Christmas
season is good, production is going as
planned and pre-orders from customers
are strong.
.
Continuing good performance of the division
driven by strong sales from Iceland
Good results from all product categories out
of Iceland, despite the challenging
environment. 9M pelagic sales up 27% on
same period last year,
Sales in France negatively impacted by high
prices and weakening consumer purchasing
power,
The German fresh fish operations has been
stable, although volume has decreased due
to higher prices and difficult economic
situation.
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