Iceland Seafood International Hf · OMXICE:ICESEA
Iceland Seafood International Hf — H1 2022 Earnings Presentation
18 slides from Iceland Seafood International Hf's earnings presentation, 2022
Slide 1: Presentation to Investors and Analysts
THE ICELAND SEAFOOD GROUP Q2 and 1H 2022 RESULTS Presentation to Investors and Analysts
Slide 2: We are Iceland Seafood
Q2 2022 Results Presentation to Investors and Analysts We are Iceland Seafood
Slide 3: Iceland Seafood in numbers
Iceland Seafood in numbers Q2 2022 Presentation to Investors and Analysts 449m+ € Annual revenues in 2021 12.5m Normalised PBT 2021 32.8% Equity ratio at year end 2021 Global value-added Seafood producer and sales and marketing company 11 Businesses in 7 countries 5.000+ Customers across 45 countrie
Slide 4: 90 years together
1932-2022 Q2 2022 Presentation to Investors 90 years together and Analysts Iceland Seafood International is proud of its strong heritage and history and continues to build on that foundation, to be a respected industry leader. 1914 1932 1935 2021 1955 2022 2015 2022 4
Slide 5: Cost increases and shortage of supply main drivers for negative performance in Q2 & H1
Cost increases and shortage of supply has been the Q2 2022 Presentation to Investors main drivers for negative performance in Q2 & H1 and Analysts Increased political risk and disruptive supply chains bringing 300 Group sales growth driven by price increases (€’m) on challenges and opening up opport
Slide 6: Salmon prices levelling off after reaching all time high in Q2
Salmon prices levelling off after reaching all Q2 2022 time high in Q2. Presentation to Investors and Analysts Weekly Salmon prices (2006 – 2022)* € 14,00 € 12,77 € 12,31 € 12,00 € 11,95 € 11,43 € 10,38 € 10,37 € 10,72 € 10,38 € 10,24 € 10,00 € 10,00 € 10,03 € 8,44 € 9,66 € 9,44 € 9,16 € 9,06 € 8,64
Slide 7: Good performance of S-Europe division despite challenging external conditions
Good performance of S-Europe division despite of Q2 2022 challenging external conditions Presentation to Investors and Analysts Factory extension progressing in Challenges in sourcing of raw accordance with schedule material at Achernar during 1H 2022 • Sales in the 1H of €108.8m were 27% up on 1H •
Slide 8: Extreme cost increases impacting the operation of IS UK
Extreme cost increases impacting the operation Q2 2022 Presentation to Investors of IS UK and Analysts Results impacted by severe cost New management team in place. Main increases and disruptive supply chain emphasis on credibility towards retail and stabilising the operation • All UK operations mov
Slide 9: Financial performance
THE ICELAND SEAFOOD GROUP 4Th QUARTER 2020 RESULTS Q2 and 1H 2022 RESULTS PRESENTATION TO INVESTORS AND ANALYSTS Financial performance
Slide 10: Strong demand for core products driving positive results in the period
Strong demand for core products ⟩ VA S-Europe ⟩ VA N-Europe Q2 2022 Presentation to Investors driving positive results in the period ⟩ Sales & Distribution and Analysts € m’s Q2 22 Q2 21 1H 22 1H 21 Sales in 1H 2022 up 27% like Normalised PBT of €4.2m, for like from 1H 2021 down €0.3m from 1H 2021 S
Slide 11: Unprecedented price increases having a severe negative impact on results in UK and Ireland
Unprecedented price increases having a ⟩⟩ VA VA S-Europe N-Europe Q2 2022 Presentation to Investors severe negative impact on results both ⟩ Sales & Distribution and Analysts in UK and Ireland in the period € m’s Q2 22 Q2 21 1H 22 1H 21 Sales in 1H 2022 down Results severely Sales 28.2 31.6 56.8 63.
Slide 12: Continuing strong demand for products from Iceland
Continuing strong demand for products ⟩⟩ VA S-Europe VA N-Europe Q2 2022 Presentation to Investors from Iceland ⟩ Sales & Distribution and Analysts € m’s Q2 22 Q2 21 1H 22 1H 21 Sales growth of 13% Normalised PBT of Sales 46.6 37.4 87.0 76.8 from 1H 2021, €1.7m up 49% from 1H • Sales are up €10.2m f
Slide 13: Group's results impacted by rapid and substantial price increases of all input factors
Group’s results impacted by rapid and Iceland Seafood Int’l Q2 2022 Presentation to Investors substantial price increases of all input and Analysts factors in the period € m’s Q2 22 Q2 21 1H 22 1H 21 Group sales in 1H 2022 of Normalised loss before tax of €238.4m up 14% on 1H 2021 €1.8m in the perio
Slide 14: Impact of price increases on inventories and receivables inflates the balance sheet
Impact of price increases on inventories and Q2 2022 Presentation to Investors receivables inflates the Balance sheet at end of and Analysts the period € m’s 30.6.2022 31.12.2021 Variance € m’s 30.6.2022 31.12.2021 Variance Fixed assets 32.5 31.6 0.9 Total Equity 89.3 91.7 (2.5) Leased assets 1.7 1.
Slide 15: Outlook
THE ICELAND SEAFOOD GROUP 4Th QUARTER 2020 RESULTS Q2 and 1H 2022 RESULTS PRESENTATION TO INVESTORS AND ANALYSTS Outlook
Slide 16: Revised outlook range for Normalised PBT €9.0-14.0m (previously €11.0-16.0m)
Revised outlook range for Normalised PBT €9.0- Q2 2022 Presentation to Investors 14.0m (previously €11.0-16.0m) and Analysts • 1H 2022 results impacted by extreme price increases of all input factors in Group results are influenced by various the period. The operation of IS UK was loss making in the
Slide 17: Forward Looking Statements
Forward Looking Statements Q2 2022 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 managements
Slide 18: We are Iceland Seafood
WE ARE ICELAND SEAFOOD www.icelandseafood.com
Iceland Seafood International hf. — H1 2022 Earnings Presentation on 6ix