Icelandic Salmon As · OSL:ISLAX
Icelandic Salmon As — H1 2021 Earnings Presentation
21 slides from Icelandic Salmon As's earnings presentation, Aug 26, 2021
Slide 1: First Half 2021 Results
FIRST HALF 2021 RESULTS Reykjavik, 26 August 2021 ARNARLAX® PRIVATE AND CONFIDENTIAL
Slide 2: Agenda and Presenters
AGENDA AND PRESENTERS ▪ OPERATIONAL UPDATE ▪ FINANCIAL UPDATE ▪ STRATEGIC UPDATE AND OUTLOOK BJØRN HEMBRE JÓNAS HEIÐAR BIRGISSON ▪ QUESTIONS AND ANSWERS Chief Executive Officer Chief Financial Officer SUSTAINABILITY – IT’S IN OUR NATURE 3
Slide 3: This is Icelandic Salmon
THIS IS ICELANDIC SALMON Icelandic Salmon AS is listed on the Euronext Growth market in Oslo. The company is the sole owner and Four smolt Farming in six ASC parent company of Arnarlax ehf. facilities, Capacity sites in three fjords of 4.5 million smolt Total MAB 25,200 tonnes All operational activi
Slide 4: New Brand and Global Trademark
NEW BRAND AND GLOBAL TRADEMARK A LONG-TERM BRAND STRATEGY BUILT AROUND TRENDS AND CUSTOMER NEEDS ▪ Quality conscious consumers around the world want food that is not only good for them, but also for the planet. ▪ The Arnarlax brand is built on pillars of sustainability and Icelandic heritage – resul
Slide 5: Management Further Strengthened in 2021
MANAGEMENT FURTHER STRENGTHENED IN 2021 Two new senior officers appointed in first half of 2021 Kjersti Haugen started as Chief Sales Officer on 06.04.21. 34 years of international experience from the seafood industry. Most recently COO in Seaborn Jón Garðar Jörundsson started as Chief Business Deve
Slide 6: Launching Our New Brand & Global Trademark
LAUNCHING OUR NEW BRAND & GLOBAL TRADEMARK
Slide 7: Operational Update
OPERATIONAL UPDATE
Slide 8: Highlights
HIGHLIGHTS Operational update Biological performance improved, especially on mortality and growth rate. New three-year loan agreement in place, replacing a previous long- Low lice levels recorded, no delicing required. term loan which matured in December 2021, securing better financial flexibility.
Slide 9: Significant EBIT/kg Improvement in Q2
SIGNIFICANT EBIT/KG IMPROVEMENT IN Q2 Operational update Good operational performance and increase price achievement improving results Source: SalMar’s report for the second quarter and first half of 2021 Note: Numbers may appear slightly inconsistent due to different accounting principles in SalMar
Slide 10: Financial Update
FINANCIAL UPDATE
Slide 11: Group Profit and Loss
GROUP PROFIT AND LOSS Financial update EUR million H1 2021 H1 2020 Delta (%) FY 2020 FIRST SIX MONTHS OF 2021 VS SAME PERIOD 2020 Operating income 35.42 35.38 0.1 % 61.84 Positive development in biology in the first half of 2021, mainly related to reduced mortality and a better growth rate Operation
Slide 12: Cashflow and Financial Position
CASHFLOW AND FINANCIAL POSITION Financial update Assets Net interest bearing debt KEY ITEMS FIRST SIX MONTHS OF 2021 (EUR million) (EUR million) Net cash flow from operating activities was EUR 2,03 million compared with EUR 11,38 million in the same period last year 70,43 40,22 4,67 Total investment
Slide 13: Strategic Update and Outlook
STRATEGIC UPDATE AND OUTLOOK
Slide 14: Becoming the Next Big Region Within Salmon Farming
BECOMING THE NEXT BIG REGION WITHIN SALMON FARMING FAVORABLE REGULATORY FRAMEWORK Marine Research Institute recently The Marine Research Institute (MRI) recently carried out an updated Risk Assessment raised MAB to 106,500 tonnes for fertile salmon and set a figure of 106,500 tonnes. 132.000 Total o
Slide 15: Production and Planned Further Growth
PRODUCTION AND PLANNED FURTHER GROWTH Strategic update and outlook Icelandic Salmon holds licenses of 25,200 tonnes maximum allowed biomass in All sites ASC certified the Icelandic Westfjords Arnarfjörður, Patreksfjörður and Tálknafjörður. EXPANSION AND LICENSE APPLICATIONS Currently in the process
Slide 16: Shift to Low-Carbon Footprint Marine Transport
17 SHIFT TO LOW-CARBON FOOTPRINT MARINE TRANSPORT Strategic update and outlook GOOD FOR THE ENVIRONMENT Reykjavik – AND FOR THE BOTTOM LINE 1 day Arnarlax has recently switched a significant part of volume from air freight to marine transport to service the US market. +120 million people London Icel
Slide 17: Education, Social Impact & Governance in Focus
18 EDUCATION, SOCIAL IMPACT & GOVERNANCE IN FOCUS Strategic update and outlook ICELANDIC SALMON WORKFORCE PROFILE Gender ratio 24% of the company‘s workforce is female and Arnarlax‘s mission is to continue to strengthen the ratio further with new hires Strong contribution to local communities and th
Slide 18: Strong Support from Local Investors
STRONG SUPPORT FROM LOCAL INVESTORS Strategic update and outlook Total shareholder numbers was 272 whereof Shareholder structure approximately 18 percent of the outstanding shares were (as of 30.06.2021) held by shareholders controlled by Icelandic citizens. Gildi,one of the largest pension funds in
Slide 19: Outlook
OUTLOOK Strategic update and outlook In the first half of 2021, the salmon market has demonstrated resilience to the uncertainty created by Covid-19. The roll-out of vaccines in our main markets gives further reasons for optimism about the future demand, while the supply side shows near-zero growth
Slide 20: Arnarlax ehf. Contact Details
ARNARL AX ehf . Str andgata 1, 465 Bí l dudal ur , I c el and www. ar nar l ax. i s ar nar l ax@ ar nar l ax. i s +354 4560100
Slide 21: Arnarlax ehf. Contact Details
ARNARL AX ehf . Str andgata 1, 465 Bí l dudal ur , I c el and www. ar nar l ax. i s ar nar l ax@ ar nar l ax. i s +354 4560100