Investor Presentaiton
ICELAND
ISI SEAFOOD
Q4 2022
Presentation to Investors
and Analysts
Inventories €28.7m higher than in beginning on
like-for-like basis, driven by price increases
€ m's
Fixed assets
Leased assets
Intangible assets.
31.12.2022
31.12.2021
Variance
€ m's
31.12.2022
31.12.2021
Variance
27.6
36.7
(9.0)
Total Equity
81.4
91.7
(10.4)
1.7
1.9
(0.2)
Thereof minority interest
2.0
2.3
(0.3)
56.7
58.7
(2.0)
Long term borrowings
32.5
40.3
(7.8)
Deferred tax/other
2.4
4.9
(2.5)
Lease liabilities
1.4
1.5
(0.1)
Non-Current Assets
88.5
102.2
(13.7)
Obligations/Deferred tax
3.3
3.6
(0.3)
Inventory
86.0
77.3
8.7
Non-Current Liabilities
37.2
45.3
(8.1)
Trade and other receivables
62.5
65.7
(3.2)
Short term borrowings
72.1
81.6
(9.5)
Other assets
9.8
7.6
2.2
Trade and other payables
52.5
52.2
0.3
Bank deposits
11.1
27.8
(16.7)
Other current liabilities
10.8
9.7
1.1
Current Assets
169.4
178.4
(9.0)
Current liabilities
135.4
143.5
(8.1)
Assets classified as held for sale
Total Assets
32.5
32.5
290.3
280.6
9.7
Liab. associated w. assets held for sale
Total Equity and Liabilities.
36.4
36.4
290.3
280.6
9.7
Assets and liabilities related to IS UK
are classified as held for sale on
31.12.2022 by IFRS 5, but are included
in the 2021 balance sheet figures,
Impairment of goodwill, property and
deferred tax assets at IS UK of €3.4m
in total, reflected in the year-end
balance sheet as Assets held for sale,
Inventories are €8.7m higher than at
the year beginning and €28.7m higher
on like-for-like basis (i.e. excluding IS
UK for 2021 comparison).
The value of inventories in the S-
Europe division is €24.1m higher than
at the year beginning, driven by price.
increases,
Accounts receivables have increased
by €2.5m on like-for-like basis. At the
end of the year, 74% of Group
receivables are insured,
Cash position decreased by €16.7m
from year-end 2021.
18
A loan agreement of €20m with Arion
banki was extended for three years in
April 2022. The bank is providing
funding to the S&D division,
Two offerings of 6 months' bills for ISK
2.120 million in total outstanding at the
end of December,
Net debt, excluding IS UK, of €93,6m at
the end of the year increased by €28.2m
from the year beginning, driven by an
increase in working capital.
Funding headroom of €31.7m at the end
of December, including cash,
Total equity of €81.4m and an equity
ratio of 28.0% at the end of the year
compared to 32.7% at the end of 2021.View entire presentation