Iceland Seafood International Hf · OMXICE:ICESEA
Iceland Seafood International Hf — Q1 2024 Earnings Presentation
22 slides from Iceland Seafood International Hf's earnings presentation, December 2024
Slide 1: Q1 2024 Results: Presentation to Investors and Analysts
Q1 2024 RESULTS Presentation to Investors and Analysts
Slide 2: Seafood Expo Barcelona 2024
ICELAND Seafood Expo Barcelona 2024 SEAFOOD
Slide 3: Demand was stable, although sales were still lower than in a normal year
Demand was stable, although sales were still lower than in a normal year. Q1 2024 Presentation to Investors Year taken off with high salmon prices Source:www.fishpool.eu 12 and Analysts 2021 2022 2023 2024 2024 - Forward prices 11 10 • Seafood prices remain high and have increased more than other an
Slide 4: European and USA Food inflation and Central bank interest rates
European and USA Food inflation Q1 2024 Presentation to Investors and Analysts and Central bank interest rates. Food Inflation Eurozone currently 4.50% Federal Reserve 5.50% Source: Trading Economics • Food inflation is easing off but is still high UK 5.25% Iceland 9.25% due to cost increases being
Slide 5: Despite steep salmon prices and low purchasing power, overall performance acceptable
Q1 2024 Presentation to Investors Despite steep salmon prices and low purchasing power in Europe, and Analysts the Group's overall performance this quarter is acceptable. VA S-Europe VA N-Europe Sales & Distribution • Overall acceptable results of the S- • The Division is on par with Q1 2023. • Cont
Slide 6: ESG matters: New website launched
ESG matters: New website launched Q1 2024 Presentation to Investors and Analysts Main agenda in the coming weeks: • Detailed reviewing of Double Materiality results • Data-gap analysis to comply to new reporting standards • Improvements on internal processes for EU Taxonomy & Corporate Sustainabilit
Slide 7: Financial performance
THE ICELAND SEAFOOD GROUP 4Th QUARTER 2020 RESULTS Q1 2024 RESULTS PRESENTATION TO INVESTORS AND ANALYSTS Financial performance
Slide 8: PBT and net margin are up compared to Q1 2023 despite lower sales
PBT and net margin are up Q1 2024 compared to Q1 2023 despite of ⟩ VA S-Europe ⟩ VA N-Europe Presentation to Investors and Analysts lower sales ⟩ Sales & Distribution € m’s Q1 24 Q1 23 Q1 sales dropped compared Normalized PBT of to Q1 23. €2.1m, €1.1m above Q1 2023 Sales 55.8 66.0 • Ibérica group sa
Slide 9: Results in line with Q1 2023 despite high salmon prices in the quarter
Results in line with Q1 2023 despite high ⟩ VA S-Europe ⟩ VA N-Europe Q1 2024 Presentation to Investors salmon prices in the quarter ⟩ Sales & Distribution and Analysts € m’s Q1 24 Q1 23 Sales are on par with last Results in Q1 were on par with year the same period last year Sales 13.0 13.1 • Sales
Slide 10: January was an all-time record month for seafood exports from Iceland
January was an all-time record month for ⟩ VA S-Europe ⟩ VA N-Europe Q1 2024 Presentation to Investors seafood exports from Iceland and Iceland ⟩ Sales & Distribution and Analysts Seafood. € m’s Q1 24 Q1 23 Sales are on par with last year NPBT of €1.1m, up €0.1m from 2023 Sales 48.8 48.8 • Strong sa
Slide 11: Despite a slight decline, our outlook remains positive
Despite a slight decline, our outlook remains Q1 2024 Presentation to Investors positive as Q1 2024 compares to a strong Q1 2023. and Analysts € m’s Q1 24 Q1 23 Group sales in Q1 2024 of Normalised PBT of €1.9m €113.8m, down 8% on Q1 23 was up €0.9m from Q1 2023 Sales 113.8 123.1 Net margin 10.5 9.8
Slide 12: Condensed Consolidated Statement of Financial Position
Condensed Consolidated Statement of Financial Position Q1 2024 at 31 March 2024 Presentation to Investors and Analysts € m’s 31.3.2024 31.12.2023 Variance € m’s 31.3.2024 31.12.2023 Variance Fixed assets / Inv. property 32.3 31.8 0.5 Total Equity 72.9 72.7 0.2 Leased assets 1.5 1.6 (0.1) Thereof min
Slide 13: Outlook
THE ICELAND SEAFOOD GROUP 4Th QUARTER 2020 RESULTS Q1 2024 RESULTS PRESENTATION TO INVESTORS AND ANALYSTS Outlook Hofn seaport
Slide 14: Outlook range for Normalised PBT €5.0-7.0m for the year
Outlook range for Normalised PBT €5.0-7.0m for Q1 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* due to quota reduction and the USA ban on Russian fish external fa
Slide 15: We Are Iceland Seafood
We Are Iceland Seafood Q1 2024 Presentation to Investors and Analysts €430 m 10 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
Slide 16: Good market share in exports from Iceland
Good market share in exports from Iceland Q1 2024 Presentation to Investors Total export same tariff codes from Iceland / ISH Share % and Analysts Iceland Seafood, a leading company in exporting from Iceland • The company´s share in exports on the same tariff codes from Iceland from 2021 up to date
Slide 17: Sourcing Iceland Seafood 2023
Sourcing Iceland Seafood 2023 Q1 2024 Presentation to Investors and Analysts • In 2023, 55% of total purchases came from ISI shareholders (7) • The remaining 45% comes from around 60 different producers in Iceland and various providers all around the globe. % in kgs 45% 55% Shareholders Others 17
Slide 18: Strategy planning has advanced
Strategy planning has advanced Q1 2024 Presentation to Investors Executed by employees and Board of Directors and Analysts Planning Analysis Prioritisation Implementation Employees along with Results built on e.g.; Board of Directors • SWOT analysis have in the last year done by managers Board will
Slide 19: Customers of all subsidiaries: Importance of each criteria vs. our performance
Overall result – Customers of all subsidiaries: Q1 2024 Presentation to Investors and Analysts Importance of each criteria vs. our performance 5,00 • Customers of all Iceland Seafood subsidiaries select, 4,50 quality, service and product availability as the 3 main 4,00 criteria when selecting their
Slide 20: Strategy focus – Work in progress
Strategy focus – Work in progress Q1 2024 Presentation to Investors and Analysts Growth Organic / acquisition Organic growth and acquisition related to current operation and value chain Operational Appearance and efficiency culture Automation in processes, Review brand strategy and improved purchasi
Slide 21: We Are Iceland Seafood
WE ARE ICELAND SEAFOOD www.icelandseafood.com
Slide 22: Forward Looking Statements
Forward Looking Statements Q1 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. — Q1 2024 Earnings Presentation on 6ix