Iceland Seafood International hf · OMXICE:ICESEA
Iceland Seafood International hf — H1 2024 Earnings Presentation
16 slides from Iceland Seafood International hf's earnings presentation, Nov 26, 2024
Slide 1: 1H 2024 Results Presentation to Investors and Analysts
1H 2024 RESULTS Presentation to Investors and Analysts
Slide 2: Salmon prices eased considerably while cod prices remain high due to supply and the USA ban on Russia
Salmon prices eased considerably while cod prices remain high due to supply and the USA ban on Russia 1H 2024 Presentation to Investors Salmon prices levelling up and stable Source:www.fishpool.eu 12 and Analysts 2021 2022 2023 2024 2024 - Forward prices 11 10 • Seafood prices remain high and have i
Slide 3: European and USA Food inflation and Central Bank interest rates
European and USA Food inflation 1H 2024 Presentation to Investors and Analysts And Central Bank interest rates Eurozone currently 4.25% Federal Reserve 5.50% • Food inflation has been decreasing in the last year but is still high due to cost increases being passed on to consumers. UK 5.00% Iceland 9
Slide 4: Despite high salmon prices and increased financing costs, the Group's first-half performance remains on budget
Despite high salmon prices and increased financing 1H 2024 costs, the Group's first-half performance remains on Presentation to Investors and Analysts budget VA S-Europe VA N-Europe Sales & Distribution • The S-Europe division delivered strong • The division reported similar results to • The S&D div
Slide 5: ESG matters: Ongoing Commitment to Advancing ESG Initiatives
ESG matters: Ongoing Commitment to Advancing ESG Initiatives 1H 2024 Presentation to Investors and Analysts Main upcoming agenda this year: • Automation of processes relating to gathering data • Detailed reviewing of Double Materiality results • Data-gap analysis to comply to new reporting standards
Slide 6: Financial performance
THE ICELAND SEAFOOD GROUP 4Th QUARTER 2020 RESULTS 1H 2024 RESULTS PRESENTATION TO INVESTORS AND ANALYSTS Financial performance
Slide 7: PBT and net margin increased compared to 1H 2023, despite lower sales and higher interest rates
PBT and net margin increased compared 1H 2024 to 1H 2023, despite lower sales and ⟩ VA S-Europe ⟩ VA N-Europe Presentation to Investors and Analysts higher interest rates ⟩ Sales & Distribution € m’s Q2 24 Q2 23 1H 24 1H 23 1H sales dropped compared Normalized PBT of 51.2 47.4 106.9 113.5 to 1H 23 €
Slide 8: Results mirror 1H 2023 due to high salmon price spikes in the first months
Results mirror 1H 2023 due to high salmon ⟩ VA S-Europe 1H 2024 price spikes in the first months of the year ⟩ VA N-Europe ⟩ Sales & Distribution Presentation to Investors and Analysts for the second consecutive year € m’s Q2 24 Q2 23 1H 24 1H 23 Sales are on par with last year Results in 1H were si
Slide 9: The S&D division delivered a solid performance despite the absence of capelin this year
The S&D division delivered a solid ⟩ VA S-Europe ⟩ VA N-Europe 1H 2024 Presentation to Investors performance despite the absence of ⟩ Sales & Distribution and Analysts capelin this year € m’s Q2 24 Q2 23 1H 24 1H 23 Sales are down 8% but NPBT of €1.6m, up €0.2m remain above budget from 2023 Sales 35
Slide 10: Despite a slight decline in sales, our outlook remains positive, and we anticipate a strong second half
Despite a slight decline in sales, our outlook 1H 2024 Presentation to Investors remains positive, and we anticipate a strong and Analysts second half of the year € m’s Q2 24 Q2 23 1H 24 1H 23 Group sales in 1H 2024 of €212m, Normalised PBT of €1.1m was up down 5% on 1H 23 €1.9m from 1H 2023 Sales 9
Slide 11: Condensed Consolidated Statement of Financial Position
Condensed Consolidated Statement of Financial Position 1H 2024 at 30 June 2024 Presentation to Investors and Analysts € m’s 30.6.2024 31.12.2023 Variance € m’s 30.6.2024 31.12.2023 Variance Fixed assets / Inv. property 33.6 31.8 1.8 Total Equity 72.5 72.7 (0.2) Leased assets 1.3 1.6 (0.3) Thereof mi
Slide 12: Outlook
THE ICELAND SEAFOOD GROUP 4Th QUARTER 2020 RESULTS 1H 2024 RESULTS PRESENTATION TO INVESTORS AND ANALYSTS Outlook
Slide 13: Outlook range for Normalised PBT €5.0-7.0m for the year
Outlook range for Normalised PBT €5.0-7.0m for 1H 2024 Presentation to Investors the year and Analysts • The outlook for cod is that prices will remain high until fall Group results are influenced by various Full year Normalised PBT* external factors such as: (m’s) due to quota reduction and the USA
Slide 14: We Are Iceland Seafood
We Are Iceland Seafood 1H 2024 Presentation to Investors and Analysts €430 m 9 Revenues in 2023 Businesses IS Iceland Oceanpath 10 Businesses 45 6 Countries we trade in Value-added factories IS Germany IS Ibérica 6 IS France 78.000 MT 1.0+ m Ahumados Domínguez Of products sold Meals sold every day A
Slide 15: We Are Iceland Seafood
WE ARE ICELAND SEAFOOD www.icelandseafood.com
Slide 16: Forward Looking Statements
Forward Looking Statements 1H 2024 Presentation to Investors and Analysts Disclaimer This presentation is furnished and intended for European market participants and should be viewed in that manner. Any potential forward looking statements contained in this presentation are reflective of management'
Iceland Seafood International hf. — H1 2024 Earnings Presentation on 6ix