NIREUS AQUACULTURE 2011 Q1 Financial Results Summary Q1 Total - - PowerPoint PPT Presentation

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NIREUS AQUACULTURE 2011 Q1 Financial Results Summary Q1 Total - - PowerPoint PPT Presentation

Nov 07, 2023 155 likes •273 views

NIREUS AQUACULTURE 2011 Q1 Financial Results Summary Q1 Total sales up +10% to 44.3 mil (Q1 2010 vs Q1 2011) Fish volumes up +3.4%, value up +15.4% to 36.6 mil (Q1 2010 vs Q1 2011) Debt decreased by 8.6 mi.

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SLIDE 1

NIREUS AQUACULTURE

2011 Q1 Financial Results

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SLIDE 2

Summary Q1

  • Total sales up +10% to € 44.3 mil (Q1 2010 vs Q1 2011)
  • Fish volumes up +3.4%, value up +15.4% to € 36.6 mil (Q1

2010 vs Q1 2011)

  • Debt decreased by € 8.6 mi.
  • Improved operational results driven mainly by increasing

prices

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SLIDE 3

Nireus Group - Key Figures Q1

l 4m € revenue increase

  • vs. Q1 2010

l Volume & Price Increase l Improved recurring

  • perational EBITDA

margin from -0.66% to 3.48% (+€ 1.8 mil)

Key Figures (in € .000) Q1 2011 Q1 2010 Difference

Sales volume - fish, tones 7.805 7.545 259 Revenue 44.302 40.286 4.016 EBIT reported 3.442 3.626

  • 184

Fair value adj. on biomass 4.111 5.822

  • 1.711

Income/loss from associated companies

  • 24

208

  • 232

EBIT Operational 1)

  • 646
  • 2.404

1.759 One-off expense & Write-downs of receivables

  • 1

1 Write-downs of inventories EBIT Operational recurring 2)

  • 646
  • 2.404

1.758 Net Depreciation 2.193 2.136 57 EBITDA reported 5.631 5.762

  • 132

EBITDA operational recurring 1.543

  • 268

1.811

EBITDA operational (recurring) % 3,48%

  • 0,66%

Net Financials items

  • 3.056
  • 2.521
  • 535

Revaluation of fixed assets Income/loss from divestments EBT reported 385 1.105

  • 719

EBT operational recurring

  • 3.702
  • 4.925

1.223 31/12/2010 Net debt 239.719 229.795 9.924 Total Equity 156.372 154.714 1.658 Total Assets 511.071 528.776

  • 17.706

1)Aligned for fair value adjustement of biomass, income/loss from associated companies 2)Aligned for one-off items and write-down of assets

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SLIDE 4

3

Revenue Analysis – Per BU

Total Nireus Group Q1

l 10% Revenue Growth l Emphasis on core activities l 15,4% Growth in Fish Sales l

  • 16.7% in Sales of

Juveniles

Nireus Group Revenue (thou. €)

27.701 33.135 2.770 2.260 1.234 1.199 2.267 1.888 3.634 2.377 2.680 3.443

  • 10.000

20.000 30.000 40.000 50.000

Q1 2010 Q1 2011 Fresh Processed Frozen Juveniles Fish Feed Other

40.286 44.302 10%

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SLIDE 5

Exports Evolution

Sales evolution in mi. € Q1 2010 Q1 2011 Greece 10.71 10.25 EU 25.27 28.27 Other 4.31 5.79

Sales Breakdown 3M 2011 Greece 23% E.U. 64% Other 13%

Sales Breakdown 3M 2010 Greece 27% E.U. 62% Other 11%

77% of total sales 90% of fish sold in foreign countries

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SLIDE 6

Gross Profit Analysis Group Gross Profit Bridge Q1

l GP: after transportation cost

GP BRIDGE 2011 - Total

241 2.564 4.606 17 1.707 3.525

1.000 2.000 3.000 4.000 5.000 6.000 7.000

GP 2010 Volume Price Cost Effect Other GP 2011

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SLIDE 7

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Revenue Analysis

Fresh Fish – Volume / Prices Q1

l 356 tons increase in sales (5.08%) l 16.64% increase for Bass l 5.6% decrease for Bream l 144% increase for Other l Average Bass Prices increased by 9% l Average Bream Prices increased by 18% l Weighted Average Prices increased by 14%. Fresh Fish Sales Volume (tons)

3.234 3.772 3.751 3.541 19 47

  • 2.000

4.000 6.000 8.000

Q1 2010 Q1 2011 Bass Bream Other

Average Selling Price €/Kg

4,03 4,41 3,89 4,60 4,50 3,95 3,80 4,30 Q1 2010 Q1 2011 Bass Bream Weighted Average

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SLIDE 8

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Revenue Analysis

Processed / Frozen Fish Q1

l 97 tons decreased sales

  • 17.9%.

l Sales of Frozen Fish with 11% decrease. l Sales of Processed Fish decreased by 20.2%

Volume Sales of Processed / Frozen Fish (tons)

405 323 136 121

  • 100

200 300 400 500 600 Q1 2010 Q1 2011 Total Processed Total Frozen

Average Price (€/Kg)

7,00 9,88 6,85 9,05 7,40 7,79 6,00 7,00 8,00 9,00 10,00 Q1 2010 Q1 2011 Weighted Avg. Processed Weighted Avg. Frozen Weighted Avg. Processed / Frozen

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SLIDE 9

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Revenue Analysis

Juveniles Q1

Juveniles: l 16.7% revenue decrease l 23.7% volume decrease l 9.18% average price increase

Juveniles Sales

3,00 2,27 7,65 6,21 0,47 0,00 0,00 4,00 8,00 12,00 Q1 2010 Q1 2011 m Pieces Bass Bream Other

Average Price (€/piece)

0,21 0,22 0,20 0,23 0,19 0,20 0,15 0,20 0,25 Q1 2010 Q1 2011 Bream Bass Weighted Average

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SLIDE 10

9

Revenue Analysis

Fish Feed / Other Q1

Fish Feed l 41.5% lower quantity as more feed used for internal consumption. l 12% Higher prices driven by raw materials cost increase.

6.314 5.820

Fishfeed / Other Revenue

3.634 2.377 2.680 3.443

  • 1.000

2.000 3.000 4.000 5.000 6.000 7.000 Q1 2010 Q1 2011 thou € Fish Feed Other

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SLIDE 11

Communication – Financial Calendar

I nvestor Relations

  • Ms. Maria Kotsovou, I R Director
  • Tel. + 30 210 66 98 335
  • Mob. + 30 693 66 98 335

Email m.kotsovou@nireus.com

Financial Calendar 2 011

FY 2010 Results Thursday, 31 March 2011 3M 2 01 1 Results: Monday, 30 May 2 01 1 Ordinary AGM: Thursday, 30 June 2011 6M 2011 Results: Monday, 29 August 2011 9M 2011 Results: Monday, 28 November 2011

Legal Notice

This presentat ion has been prepared solely for inform ational purposes. Any project ions

  • r other estim ates in this present ation, including est im ates of returns or perform ance,

com m ents w ith respect to our objectives and st rat egies, or the results of our

  • perations

and business, are forw ard- looking statem ents based upon certain assum ptions that m ay be w rong. These assum pt ions m ay be influenced by factors w ithin or beyond our control, and actual results m ay differ m aterially from any estim ates and project ions. Factors influencing actual results include but are not lim it ed to fluctuations in fish prices and raw m at erial prices, the effects of com pet ition in the areas in w hich w e operate, changes in the econom ic environm ent, regulatory and econom ic condit ions. This present ation is not an offer to buy or sell or a solicit ation of an offer to buy or sell any securit y or instrum ent or to part icipate in any trading

  • strategy. No part of this present ation m ay be construed as constituting investm ent

advice or a recom m endation to enter into any t ransact ion. No representat ion or w arrant y is given w ith respect to the accuracy or com pleteness of the inform ation contained in this present ation, and no claim is m ade that any future offer to t ransact any securit ies w ill conform to any term s that m ay be contained herein. Before ent ering into any t ransact ion, investors should det erm ine any econom ic risks and benefits, as w ell as any legal, tax and account ing consequences of doing so, as w ell as their ability to assum e such risks, w ithout reliance on the inform at ion contained in this presentat ion.

Appendix