Investor Presentaiton
ISI
ICELAND
SEAFOOD
Q1 2020 Results
Presentation to Investors
and Analysts
La Sirena
tacos de
BACALAO
al punto de sal
ALTO
CONTEND EN
OMEGA 3
BACALAOise un a
condeno
acade novine
TACOS DE BACALAO AL PUNTO
DE SAL ULTRACONGELADOS
INGREDIENTES MER
MAD 27, we fig
PREPARACION
414332 003286
Consumider
900 21 06 21
www.
CONSERVACION
Es Spades
450g
mede arte del/Le
APORNICAN METICIONAL
porciones de
orciones de
Sire
al
la Sirena
PESO NETO
PESO NETO ESCUDD
360 g
6 g
LANDIA
MIGAS DE
BACALAO
DE ISLANDIA
ULTRACONGELADAS
Gadus morhua
MERA CONGE
AL PUNTO DE SAL
LISTAS PARA CON
PRIMERA
SIN ESPINAS
BE
FESIONAL
COCINA
Colita
FILETTINI DI MERLUZZO
LEGGERMENTE SALATO
NORDICO SURGELATO
SENZA SPINE
ACALHAU DA SLANDIA ESFIADO
TRACONGELADO SEM ESPINHA
Pri congelação
COM PONTO DE SAL
BAC al punto de sal
BACALAO
Contas of al punto
BA
al punt
ONTO
la Sin
ALTO
PROTEINA
TEINAS
Benefits of strong merged entity in S-Europe
evident in the current situation
IS Iberica production of
light salted cod in a
single location from
Feb 2020
•
•
•
The merged entity IS Iberica
operating from January 1st 2020,
Production of light salted cod
has been moved to a single
location in Barcelona from
February 2020,
Restructuring of Ecomsa.
finalised in February, now
focused on local distribution in
Andalusia. This operation
temporarily closed due to
Covid19,
The merged entity in good
position to manage operation
effectively in the current
situation,
Disruptions in production,
Acquisition of Elba
finalised in Q1 2020
•
logistics etc are causing a delay
in synergy creation from the
merger.
Closing of transaction 21
February 2020,
Immediate steps taken to
integrate operation with IS
Iberica,
i.
Joint management team with IS
Iberica, former CEO and CFO
resigned prior to acquisition
ii. Purchasing managed by IS Iberica
commercial team
iii. Actions taken to leverage marketing,
distribution and production
capabilities
Acquisition strengthens Iceland
Seafood's sourcing network
with GPG Seafood and Icemar
becoming shareholders in
Iceland Seafood.
Significant increase in
production of Achernar
•
Investment in increased
capacity finalized early
December 2019,
Production in Q1 2020 of
6.820MT was up 60% from
same time 2019,
JV project on squid going well
with two landings in Q1 and the
third landing in Q2,
Second phase of the
investment is slightly delayed
due to the situation and will be
finalized in Q3, with a 800 MT
coldstore up and running from
that time. Will improve
flexibility in sales and reduce
storage costs.
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