Mowi Asa · OSL:MOWI
Mowi Asa — Pan Fish Group — DnB Nor Seafood Summit 2006
12 slides from Mowi Asa's conference presentation, Oct 5, 2006
Slide 1: Pan Fish Group
Pan Fish Group DnB Nor Seafood Summit – 5th of October 2006 Disclaimer Marine Harvest • Pending approvals from the competitions authorities in UK and France, Pan Fish does not have the control of Marine Harvest • Until final approval Marine Harvest cannot be consolidated or integrated into Pan Fish
Slide 2: Opportunities in the wider seafood industry
Heading given for my 25 minutes Opportunities in the wider seafood industry All pictures used in this presentation are from Pan Fish / Fjord Seafood and represent the finest of seafood products The wider seafood industry - an coming success • It is easy to conclude that we are in a fantastic market
Slide 3: Pan Fish in the wider seafood industry
Pan Fish in the wider seafood industry • The global seafood industry is about to go through a total change – We have only seen the beginning and it is about much more than salmon in Norway • Pan Fish Group has decided to be a driving force in this development – In the new company, build on Marine Ha
Slide 4: Pan Fish Group – global excellence in seafood
Pan Fish Group – global excellence in seafood Norway Poland Canada Faeroes Belgium Scotland Holland Ireland China South Korea France USA Italy Spain Taiwan Japan Hong Kong Singapore Chile Australia A strenght will be the global business competence in the combined company! Flat and lean organisationa
Slide 5: Operational and strategic focus
Operational and strategic focus Control from egg to customer – within an increasing number of species Farming Excellence on farming practices, sustainability and quality Partnership based customer strategy High level seafood products to retail and food service Value Added Strong focus on product dev
Slide 6: A few slides on figures
A few slides on figures Historically strong performance for the new group • 1st half 2006 Operating income of NOK 7,8 billion • 1st half 2006 EBITDA of NOK 1,8 billion • 1st half 2006 Harvesting of approx 173,500 tgw • Total Assets per 30.06.06 of NOK 25,3 billion (EK 49%) • Strong performance Q1/Q2
Slide 7: Pro Forma figures New Group
Pro Forma figures New Group PF FS MH Group PRO FORMA PROFIT & LOSS 1.1-30.06 1.1-30.06 1.1-30.06 1.1-30.06 (NOKm) 2006 2006 2006 2006 Operating income 1 277.8 2 017.8 4 549.3 7 844.9 EBITDA 317.0 420.3 1 074.2 1 811.4 Op. profit before value adj. biomass 222.7 360.4 898.7 1 481.8 EBIT 293.1 296.6 78
Slide 8: The seafood industry – short and long term
The seafood industry – short and long term The first 6 months of 2006 – what happend? 1. The extremely low supply growth hindered growth in consumption 2. Less new consumers and reduced repetitive purchase from existing customers 3. The strong underlying demand drove prices to a level which would ha
Slide 9: We are early in the industrial development
We are early in the industrial development • We will see ever decreasing production cost for salmon – Feed prices a short term issue – New techniques, improved genetics, focus on fish health, higher competence, larger clusters, large super effective processing plants are all elements which will driv
Slide 10: The wider seafood market – what is it
The wider seafood market – what is it • The global demand for healthy seafood will continue to increase – in some market strongly • Wild catches will at best be status quo • Increase in demand have to be covered by aquaculture • Demand for safe, traceable, sustainable seafood products will open for
Slide 11: Some final reflections and summary
Some final reflections and summary • Pan Fish will develop a flat, empowered and cost effective organisation – Efficient decision making close to the core business • Integration and synergies will stand out as key profit drivers – Significant cost reductions to be seen over next 12 – 24 months • An
Slide 12: The wider seafood industry – a fantastic future
The wider seafood industry – a fantastic future Disclaimer Marine Harvest • Pending approvals from the competitions authorities in UK and France, Pan Fish does not have the control of Marine Harvest • Until final approval Marine Harvest cannot be consolidated or integrated into Pan Fish and will con