Investor Presentaiton
ISI
ICELAND
SEAFOOD
Q3 2020 Results
Presentation to Investors
and Analysts
Q3 results marked by Covid19
impacts. Sales started to recover
from June
€ m's
Q3 20
Q3 19
9M 20
9M 19
Sales
33.3
33.8
96.0
124.2
Net margin
2.8
4.0
9.6
13.9
Normalised EBITDA
0.9
1.8
2.9
6.5
Normalised PBT*
0.1
1.1
1.0
5.1
* Normalised PBT represents Profits before tax before allowing for significant items.
** Ecomsa classified as discontinued operation, therefore not included in numbers
seastar
gambon
gambero
surgelato
ultracongelado
gambão
argentino
ultracongelar
crevette
Peso neto
Peso netto
Poids net
净重
Peso líquido
Καθαρό βάρος
Net weight
2kge
☆
seastar
argentino
surgelée
A
阿根廷红虾
Argentine
深度冷冻
red shrimp
deep-frozen
gambón ultracongelado
gambero gambão
argentino
surgelato
argentino
ultracongelado
crevette
surgelée
Argentine
Táuwapn 阿根廷红虾 red shrimp
Αργεντινής
ΒΑΘΙΑΣ ΚΑΤΑΨΥΞΗΣ
深度冷冻
deep-frozen
•
•
•
9M 2020 sales down
23% on prior year
Sales improved during Q3 after a
significant reduction during
lockdown from Mid March to May,
Increased sales of Argentinian
shrimp, driven by higher production
and strong sales to customers in
Italy helped sales in the quarter,
Sales of light salted cod improved as
well, but are still 33% down on prior
year during the 9M period,
Covid19 restrictions implemented in
S-Europe have impacted sales
negatively, especially since mid
October. Not to the same level as in
March/April.
> VA S-Europe
> VA N-Europe
> Sales & Distribution
9M 2020 Normalised PBT
of €1.0m
Weaker sales especially in Q2 is the
key explanation for reduction in profits.
for 9M 2020 compared to prior year,
Price reductions and increased
complexity of supply chains have
negatively impacted margins in the
period, especially with regards to
Argentinian Shrimp and other shellfish
species,
Margin percentage of cod products
have remained strong, although they
have come down slightly from 2019
levels,
Restructuring of Ecomsa completed in
the quarter and sale of the company
finalized in November.
9View entire presentation