Main Market Listing and Offering of New Shares
ISI
ICELAND
SEAFOOD
October 2019
Main Market Listing and
Offering of new shares
Increase in revenue by
80% and PBT of 234%-
258% from 2016
•
Revenue Increase driven by
increased value added activities
increasing the companies
margins
PBT margin increased from 1.3%
in 2016 to an estimated 2.6% in
2019
Encouraging growth driven by
strategic acquisitions
•
Growth driven by
strategic acquisition
•
P&L (EURM)
Sales
2016
2017
2018 2018P 2019E
246.3 249.2 346.0
431.3 446.4
19.0
19.5
29.0
41.0
43.4
3.3
3.5
7.2
10.9
11.4
2.6
2.6
4.7
7.6
7.3
PBT*
Oceanpath is a leading fresh fish
supplier to retailers in Ireland
Net margin
Net profit
OCEANPATH
QUALITY SEAFOOD
Sales increase
(4.7%)
1.2% 38.8%
73.1%
3.5%
Net margin
7.7%
7.8%
8.4%
9.5%
9.7%
PBT margin*
1.3%
1.4%
2.1%
2.5%
2.6%
Net profit margin
1.0%
1.0%
1.4%
1.8%
1.6%
Group's target of a
PBT of EUR 20m in the
next 3-5 years
Driven by synergies following
recent acquisitions and organic
investments
Solo Seafood consists of the
companies Icelandic Iberica and
Ecomsa in Spain and Achernar in
Argentina
*Normalized PBT represents profits before tax before allowing for significant items and discontinued operations.
2018P (proforma) based upon 2018 actuals as Oceanpath and Solo Seafood were owned for the full year
500
Sales and PBT Growth (EURM)
5.0%
400
261
248
4.0%
300
163
3.0%
2.5%
2.6%
200
76
85
2.1%
2.0%
1.3%
1.4%
ICELANDIC
ACHERNAR
PESQUERA
ecomsa
100
171
165
183
183
185
1.0%
PESCADOS Y MARISCOS
IBÉRICA
0
0.0%
2016
2017
2018
2018P
Sales & Distribution (S&D)
Value Added (VA)
PBT margin (right axis)
2019EView entire presentation