Brief: Iceland Seafood International FY Net Result Turn To Loss Of EUR 9.9 Mln

Iceland Seafood Internat hf

22/02/2023 15:53

Feb 22 (Reuters) - Iceland Seafood Internation hf  ICESEA.IC :
    * UNPRECEDENTED COST INCREASES AND HIGH VOLATILITY SEVERELY IMPACTED ICELAND SEAFOOD'S
OPERATION
IN 2022
    * NORMALISED PBT OUTLOOK RANGE FOR 2023 OF EUR 10.0 - 14.0M, EXCLUDING IS UK OPERATION
    * PLAN FOR IS UK EXPECTS POSITIVE CASH FLOW FROM Q2 2023 ONWARDS BUT A NEGATIVE PBT OF
£2.5-3.0M
FOR 2023
    * DIMINISHING CONSUMER PURCHASING POWER, HIGH SEAFOOD PRICES IMPACTED DEMAND NEGATIVELY,
ESPECIALLY IN Q4
    * REPORTS 6% DECREASE IN SOLD VOLUME FROM PRIOR YEAR, ALTHOUGH SALES IN EURO TERMS INCREASED
BY
11%
    * SALES FOR 2022: EUR 420.8M, UP 11% FROM 2021
    * PRICES OF KEY INPUT FACTORS HAVE STARTED TO EASE, AND MARKETS ARE STABILISING
    * NORMALISED PROFIT BEFORE TAX FOR 2022: EUR 12.4M, DOWN EUR 7.1M FROM 2021
    * NET LOSS FOR YEAR 2022: EUR 9.9M COMPARED TO EUR 8.8M PROFIT IN 2021

Source text for Eikon:  ID:nGNE6wN60r 
Further company coverage:  ICESEA.IC 
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