Q2 2020 Results Presentation
ISI
ICELAND
SEAFOOD
Q2 2020 Results
Presentation to Investors
and Analysts
€ m's
Results in Q2 significantly impacted
by Covid19. Sales have gradually
recovered from June to August
Q2 20
Q2 19
1H 20
1H 19
Sales
76.0
111.2
183.2
232.1
Net margin
6.2
9.3
16.1
20.5
Normalised EBITDA
1.2
3.3
5.2
8.3
Normalised PBT*
(0.6)
2.0
2.0
5.5
Net Profit
(0.5)
1.0
1.3
2.9
* Normalised PBT represents Profits before tax before allowing for significant items
and discontinued operations.
GROUP MONTHLY SALES 2020 VS. 2019 (€'M)
2020
2019
43,4
45,0
37,9
40,6
39,4
40,0
21% reduction in
Group sales from 1H
1H
2019
•
Significant reduction in sales
due to Covid19 outbreak,
Strong sales growth in N-Europe
division driven by retail sales,
partly offsetting shortfall in S-
Europe and S&D divisions,
Forthcoming growth in UK retail
sales will create a better
balance between retail and
foodservice within the Group
Iceland Seafood
Group
Normalised PBT down
€3.5m on prior year
Reduction in sales in the higher
margin S-Europe division, the key
explanation for €4.4m drop in net
margin.
Overhead cost €0.3m lower than
last year, driven by cost synergies
in Spain, devaluation of ISK and
various actions taken to reduce
costs in all regions,
Net profit €1.6m down on last
year. 1H 2019 results impacted by
€1.6m one off cost, compared to
€0.3m this year.
Gradual recovery of sales and
profits from June to August.
35,0
37,2
30,0
25,0
38,1
29,6
37,1
21,3
23,5
33,5
33,5
34,8
23.4
31,7
30,4
31,3
20,0
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
13View entire presentation