Q2 2022 Presentation to Investors and Analysts
ICELAND
ISI SEAFOOD
Q2 2022
Presentation to Investors
and Analysts
Impact of price increases on inventories and
receivables inflates the Balance sheet at end of
the period
€ m's
Fixed assets
Leased assets
Intangible assets.
30.6.2022
31.12.2021
Variance
€ m's
30.6.2022 31.12.2021
Variance
32.5
31.6
0.9
Total Equity
89.3
91.7
(2.5)
1.7
1.9
(0.2)
Thereof minority interest
2.0
2.3
(0.3)
62.4
62.6
(0.2)
Long term borrowings
38.3
40.3
(2.0)
Deferred tax/other
4.7
4.9
(0.2)
Lease liabilities
1.3
1.5
(0.2)
Non-Current Assets
101.3
101.0
0.3
Obligations/Deferred tax
2.5
2.3
0.2
Inventory
101.0
77.3
23.7
Non-Current Liabilities
42.1
44.1
(2.0)
Trade and other receivables
67.3
65.7
1.6
Short term borrowings
88.1
81.6
6.5
Other assets
10.7
7.6
3.1
Trade and other payables
55.3
52.2
3.1
Bank deposits
4.0
27.8
(23.8)
Other current liabilities
9.6
9.6
0.0
183.1
178.4
4.7
Current liabilities
153.0
143.5
9.5
Current Assets
Total Assets
Inventories in S-Europe division
€19.6m higher than at same time last
year, and €24.2m higher than at year
end 2021 driven by price increases in
the period,
Cash position decreased by €23.8m
from year end 2021. Group funding.
headroom of €31.8m at end of June,
284.4
279.4
5.0
Accounts receivables have increased
by €1.6m from year beginning and by
€6.8m from same time last year, due
to price increases. At end of June,
84% of Group receivables are
insured,
Net debt at end of June of €122.4m,
increased by €28.2m from year
beginning, driven by increase in
inventories and receivables,
Total Equity and Liabilities
Loan agreement of €20m with Arion.
banki extended for 3 years in April 2022.
The bank will provide funding to the
S&D division. The facility was only drawn
€0.3m at end of June,
Two offerings of 6 months bills for ISK
2.000 million in total outstanding at end
of June, was reduced by ISK 1.000
million in the period,
284.4
279.4
5.0
Total equity of €89.3m and equity ratio
of 31.4% at end of June compared to
32.8% at end of 2021.
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