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Alfesca - 2Q Results 2006/2007   21.2.2007 08:34:12
News categories: Corporate results      Íslenska  English
 Alfesca - 2Q Results 2006.pdf
 Alfesca - Fréttatilkynning 06 2006.pdf
 Alfesca - Pressrelease 2Q 2006.pdf
Six-months net profit €17

Six-months net profit €17.7 million

Profit up by 47%


Highlights from operations:

·        Sales during Q2 amounted to € 235 million, an increase of 6.1% over the previous year.[1] Sales for the first six months of the year came to € 346.9 million, representing organic growth of 6.3% over last year.

·        EBITDA for Q2 came to € 34.7 million and EBITDA for the first six months came to € 38.3 million, an increase of 20% over last year.

·        Profit after tax was € 19.4 million for Q2 and € 17.7 million for the first six months of the financial year, representing an increase of 47% over last year.

·        The acquisition of the French shell fish company Adrimex has been finalised. The enterprise value is € 21.2 million.

·        The raw material price of salmon seems to be stabilizing. The volume of salmon expected to reach harvesting size late in 2007 is about 32% greater than the corresponding figure for last year.

·        In the light of its reduced leverage, the Company is examining the possibility of refinancing the Group in the coming months.


Xavier Govare, CEO-President of Alfesca:


“The second quarter of the financial year is by far the most important in terms of securing good results for the year as a whole. On behalf of Alfesca, I would like to express my great pleasure at the results and the market share positions achieved by the Company. Both are better than we expected and budgeted for.


It is clear that our strategy of focusing on four core product categories – smoked fish, shellfish, regional speciality products and spreadables – was the right one and is producing good returns for the Company and its shareholders. The best indications of this are that we have continued to expand our market share at the same time as raising the profit level of the Company.


We have just finalised the acquisition of the French shell fish producer Adrimex. This acquisition immediately gives Alfesca the leading position in the sale of chilled shellfish on the French market; the same position as the Company already has in its key product categories in France and in the shellfish sector in the UK. Now we must address ourselves to the task of integrating the operations of Adrimex with those of Alfesca and consolidating our position.”









[1] Alfesca’s financial year runs from 1 July to 30 June.