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Investor Presentaiton

ISI ICELAND SEAFOOD Q3 2020 Results Presentation to Investors and Analysts Good results in Q3 driven by cost reductions > VA S-Europe > VA N-Europe > Sales & Distribution € m's Q3 20 Q3 19 9M20 9M 19 Sales 40.3 44.2 109.3 146.5 Net margin 1.6 1.7 4.6 5.9 Normalised EBITDA 0.5 0.4 1.1 1.6 Normalised PBT* 0.4 0.3 0.9 1.3 * Normalised PBT represents Profits before tax before allowing for significant items. FRESH FILLETS (€/KG) Saithe Haddock Cod 9 FROZEN AT SEA FILLETS (€/KG) Saithe 8,8 Haddock Cod Around 25% reduction in sales compared to 9M 2019 After difficult Q2, sales gradually recovered in Q3 with easing of restrictions in key markets, Sales of fresh fish remained strong in the quarter, and pelagic sales were 4% up on last year driven by good mackerel sales, Outlook for Q4 2020 remains uncertain, with ongoing challenges in key markets. Normalised PBT in Q3 €0.1m up on last year driven by cost reductions Net margin €1.3m below 9M 2019, due to lower sales. Net margin in the quarter only €0.1m down on last year with normalized PBT higher due to reduced cost. Various actions were taken to reduce overhead cost in all regions. Depreciation of ISK has supported reduced cost in EUR, as operating costs in Iceland are in ISK, Overall reduction in overhead costs of €0.8m compared to 9M 2019 16 13,5 12,4 14 12,9 12,9 8 12 11,6 12,4 11 7,1 6,9 12 10,6 10,3 7 12,7 11,7 7,4 6,7 6,5 6,4 6,3 5,5 55 12,3 7,1 10 12,4 10,2 5,6 6 11,2 11,5 6,6 6,6 8 9,7 10,4 - 6 6 10,2 5 5 4,7 6 6,3 5,5 4,1 4,1 5,2 5,3 6 4,6 4,7 4,1 4 3,5 3,5 6,2 6,2 4,7 2,9 2,8 2,8 4 5,7 5,5 3 3,5 3,4 3,3 2 2 Jan Feb March April May June July Aug Sept Oct Jan Feb March April May June July Aug Sept Oct 11
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