Investor Presentaiton
ICELAND
ISI SEAFOOD
Q2 2021
Presentation to Investors
and Analysts
IIII I
ICELAND SEAFOOD
Strong sales recovery in S-Europe with the
important HORECA sector opening up
Value Added S-Europe
A good overall performance in a
difficult market representing
Iceland Seafood's category
leading position
•
Strong demand in Spain and Italy from March
onwards, with easing of Covid19 restrictions. The
HORECA sector has been recovering but activity is
still significantly below pre Covid19 levels,
Sales to retail have increased, with new retail
contracts kicking in during Q2. Retail sales team
in Spain strengthened with new recruitment in
the period,
Due Diligence of Ahumados Dominguez (AD) in
progress, closing expected within the month of
September,
The proposed acquisition in AD and extension of
our current facility in Barcelona will generate
significant profit growth opportunities, driven by
cross sales synergies and improved efficiencies.
.
Good results from operation in
Argentina
•
Results from Rawson season (Nov-Mar) and
Squid sales were in line with expectations and
improved significantly from last year,
National water season (Jun-Aug) started in
beginning of June. Total production in June and
July of 761MT was in line with budget,
Market conditions remain good, prices have been
stable supported by good demand from key
markets in Europe and US. At the same time
sales to China have been low and logistics been
challenging,
Recent investment to increase production and
coldstore capacity has paid off during a
challenging season, marked by Covid19 and
transportation disruptions.
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