Investor Presentaiton
ISI
ICELAND
SEAFOOD
Q4 2020 Results
Presentation to Investors
and Analysts
Increase in total assets reflecting
investments during the year and higher
inventory level
€ m's
Fixed assets
Leased assets
Intangible assets
31.12.2020
31.12.2019 Variance
€ m's
31.12.2020
31.12.2019
Variance
24.6
17.6
7.0
Total Equity
75.3
80.2
(4.9)
1.7
2.7
(1.0)
Thereof minority interest
0.1
3.8
(3.7)
52.7
44.7
8.0
Long term borrowings.
22.8
8.0
14.8
Deferred tax/other
3.1
3.1
Lease liabilities
1.4
2.1
(0.7)
Non Current Assets
82.1
68.1
14.0
Obligations/Deferred tax
2.5
2.1
0.4
Inventory
80.9
65.1
15.8
Non Current Liabilities
26.7
12.2
14.5
Trade and other receivables
48.8
62.3
(13.5)
Short term borrowings
89.0
67.2
21.8
Other assets
6.4
4.4
2.0
Trade and other payables
39.3
42.2
(2.9)
Bank deposits
23.3
9.6
13.7
Other current liabilities
11.2
7.6
3.6
Current Assets
159.4
141.4
18.0
Current liabilities
139.5
117.0
23.5
241.5
209.5
32.0
Total Equity and Liabilities
241.5
209.5
32.0
Total Assets
Increase in inventories of €15.8m
from year beginning, but €8.7m
decrease from mid year,
Inventories in S-Europe have
decreased by €16m in the 2H of
the year. At the same time
inventories in N-Europe have
increased by €9.9m, driven by UK
Growth and Brexit uncertainties
around year end,
Decrease in accounts receivables
reflecting lower sales. Collections
have remained good during the
year.
Net debt at year end of €88.5m
increased by €23m during the
year, driven by investments and
higher Net Working Capital
New funding of €18.4m raised with Total equity of €75.3m at year end,
auction of 6-month bills
September and November.
Long term funding in Spain of
€17m completed in April and
further short term lines of €13m
secured in Q3 and Q4.
Group funding headroom (including
bank deposits) in excess of €50m
at end of December.
resulting in equity ratio of 31.2%.
Difference between acquisition
price and book value of minority
shares in Havelok and Oceanpath
treated as a reduction in
shareholders equity in accordance
with IFRS 5, but not as an increase
in Goodwill. This is the main reason
for reduction in equity.
14View entire presentation