Building on over 70 years of expertise in the Icelandic fisheries, Icelandic Group is today one of the 5 largest seafood companies in Europe

Icelandic Group Reports Stable Turnover In 2010

Global processor and trader in seafood Icelandic Group  has released its consolidated financial statements for the year ended 31 December 2010.

• Stable turnover in 2010 of EUR 999.6 million
• EBITDA of EUR 41.9 million or 4.2 percent of sales
• Profit before tax amounted to EUR 15.6 million, up 25 percent compared to EUR 12.4 million in 2009

Icelandic Group has three main business segments; primary processing, value added processing, and sales and marketing

With total sales in 2010 of EUR 999.6 million, Icelandic Group’s international network of production and marketing companies in Europe, North America and Asia continue to deliver stable turnover year on year.

Profit before tax amounted to EUR 15.6 million, up 25 percent compared to EUR 12.4 million in 2009. EBITDA amounted to EUR 41.9 million or 4.2 percent of sales and net profit of EUR 6.1 million is on par with last year.

Icelandic Group is an international network of independent companies

Return on equity was 3.9 percent, compared to 4.3 percent in 2009. With a strong equity ratio of 33 percent, Icelandic Group is well equipped to continue to consolidate and integrate its operations for further value creation.

About Icelandic Group

Building on over 70 years of expertise in the Icelandic fisheries, Icelandic Group is today one of the 5 largest seafood companies in Europe and one of the 10 largest worldwide. Icelandic Group employs approximately 3,700 people worldwide and has an annual turnover of about Euro 1 billion.

Icelandic Group’s core business is focused on value-added processing of seafood, mostly ready meals for retail and food service

Icelandic Group is uniquely positioned in the seafood sector with its international network of independent production and marketing companies in Europe, North America and Asia. Offering a wide variety of fresh, chilled and frozen seafood products and services on a global scale, Icelandic Group’s core business is focused on value-added processing of seafood, mostly ready meals for retail and food service.

Icelandic Group has three main business segments; primary processing, value added processing, and sales and marketing, representing 6 percent, 69 percent and 25 percent of total sales respectively.

On the production side, the Group operates processing plants in the United States, United Kingdom, France, and Germany focused on value added products, in particular for private label products for retail markets and foodservice. The sales and marketing platform is focused on promoting Icelandic branded products on all major markets, most notably in United Kingdom, Spain and Japan. In addition, Icelandic Group is also involved in primary processing of raw material in Iceland, China and Thailand.  

Source: Icelandic Group

Margaret E.L. Stacey
Editor Companies and Products
editorial@fis.com
www.fis.com

Address:	Borgatún 27
City:	Reykjavík
State/ZIP:	(560-7800)
Country:	Iceland
Phone:	+354 560 7800
Fax:	+354 562 1252
E-Mail:	info@icelandic.is
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