Iceland Seafood International Hf · OMXICE:ICESEA
Iceland Seafood International Hf — Iceland Seafood International — H1 2025 Earnings Presentation
17 slides from Iceland Seafood International Hf's earnings presentation, Aug 27, 2025
Slide 1: 1H 2025 Results
1H 2025 Results Iceland Seafood International 27.08.2025
Slide 2: Iceland Seafood International Key numbers
Iceland Seafood International IS Iceland Key numbers €443 m 10 Revenues in 2024 Businesses 10 6 Businesses 45 Oceanpath Countries we trade in Value-added factories IS Germany 72.000 MT 1.0+ m IS France Of products sold Meals sold every day IS Ibérica 765+ 5000+ Employees 2024 Customers Thorpesca Ach
Slide 3: Cod prices remain at an all-time high, while salmon prices have been below forecasts
Cod prices remain at an all-time high, While Salmon prices have been below forecasts • Cod prices are historically high due • Ongoing economic and political Year taken off with lower-than-expected salmon prices to quota cuts in the Barents and the challenges continue to impact 12 2021 2023 2024 2025
Slide 4: Food inflation rises while interest rates show a downward trend in key markets
Food inflation rises while interest rates show a downward trend in key markets Eurozone 2.15% Federal Reserve 4.50% UK 4.00% Iceland 7.5% • Food inflation has increased in Europe and the UK while easing in the USA. • Interest rates are coming down in our main markets, but are still high in Iceland.
Slide 5: Financial performance
1H 2025 Financial performance
Slide 6: VA S-Europe: Strong first half as sales rise both in value and volume
> VA S-Europe Strong first half as sales rise both in value and volume €m's Q2 25 1H 25 1H 2025 sales up on 1H 2024 Normalized PBT of €2.2m on par with Sales 52.9 110.0 • Ibérica Group sales increased by 5% in value and 1% 1H 2024 in volume compared to 1H 2024. • IS Ibérica Spain had a solid PBT of
Slide 7: VA N-Europe: Resilient first half with growth in value and volume
> VA N-Europe Resilient first half with growth in value and volume €m's Q2 25 1H 25 Sales are 8% up from last year Normalized PBT €0.6m ahead of Sales 14.3 28.6 • Sales in Ireland were 8% ahead of the same results in 1H 2024 period last year and 3% higher in volume. • Salmon prices lower than foreca
Slide 8: Sales & distribution: Strong cod sales deliver another solid quarter
> Sales & distribution Strong cod sales deliver another solid quarter this year €m's Q2 25 1H 25 Sales are 21% ahead of last year NPBT of €2.1m, up €0.5m from Sales 51.1 102.2 • Strong sales especially out of IS Iceland in the 2024 quarter driven by great demand for cod and related • S&D rose 4.7% Y
Slide 9: A solid first half, supported by strong cod demand and favorable salmon prices
A solid first half, supported by strong cod demand and favorable salmon prices €m's Q2 25 1H 25 Group sales in 1H 2025 up 10% on • Normalised PBT of €2.3m was up Sales 114.6 233.8 1H 24 €1.2m from 1H 2024 Net margin 10.6 22.9 • Continued strong Cod demand due to lower • EBITDA has improved by €4.2m
Slide 10: Condensed consolidated statement of financial position
Condensed consolidated statement of financial position at 30 June 2025 €m's 30.6.25 30.6.24 €m's 30.6.25 30.6.24 Fixed assets / Inv. property 37.8 33.6 Total Equity 76.0 72.5 Leased assets 1.4 1.3 Thereof minority interest 2.2 2.0 Intangible assets 56.6 56.5 Long-term borrowings 34.8 13.7 Fin. Lease
Slide 11: Investment in the Argentine fishing sector
ACHERNAR / CIGALFER / THORPESCA: Entrena Uno & Entrena Dos Investment in the Argentine fishing sector
Slide 12: Iceland Seafood presence in Argentina
Iceland Seafood presence in Argentina Achernar was founded in 2012, an Iceland Seafood company since 2015 Specialized in land-frozen 2024 Expansion: Storage Acquisition Argentine Red Shrimp and squid • Acquired Cigalfer792 S.R.L. • Enhances storage operations and reduces costs Reliable & Stable Supp
Slide 13: Strategic investment in the Argentinian seafrozen shrimp sector
Strategic investment in the Argentinian seafrozen shrimp sector THORPESCA S.A.S.: • New Subsidiary of Iceland Seafood Ibérica • Signed offer to acquire ENTRENA UNO & ENTRENA DOS from FOOD ARTS S.A. • Includes fishing permits and historical rights • Total purchase price: USD 5.8 million Strategic Imp
Slide 14: Outlook
1H 2025 Results Outlook
Slide 15: The Outlook for 2025 is €7.5-9.5 million
The Outlook for 2025 is €7.5-9.5 million. • Cod prices are expected to remain • Interest rates have been coming Group results are influenced by various external factors such as: elevated due to quota reductions and down in our main markets, Europe, the U.S. ban on Russian fish, which is the UK, and
Slide 16: Forward looking statements
Forward looking statements 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's current views on future events and performanc
Slide 17: We are Iceland Seafood
We are Iceland Seafood www.icelandseafood.com
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