Athens Greece | 31 March 2017 Annual 2016 Results Presentation NIREUS AQUACULTURE S.A.
Table of Contents Pages I. Our Vision……………………………………………………………………………………..……………………………………….…3 II. Profile…………………………………………………………………………………………………………………………………..4-13 III. Main Events…………………………………………………………………………………………………………………………....14 IV. Sales by Business Sector…………………………………………………………………………………………………..……..15 V. Sales evolution………………………………………………………………………….....…………………………………………16 VI. FY 2016 Performance…………………………………………………………...…………………………………….……..17-22 VII. Appendix A – Seabass & Seabream Industry ………………………………………....………..………...………….23 VIII. Appendix B – IFRS 13 & IAS 41 for biological assets………………………………………....………..…………..24 Disclaimer This presentation has been prepared solely for informational purposes. Any projections or other estimates in this presentation, including estimates of returns or performance, comments with respect to our objectives and strategies, or the results of our operations and business, are forward-looking statements based upon certain assumptions that may be wrong. These assumptions may be influenced by factors within or beyond our control, and actual results may differ materially from any estimates and projections. Factors influencing actual results include but are not limited to fluctuations in fish prices and raw material prices, the effects of competition in the areas in which we operate, changes in the economic environment, regulatory and economic conditions. This presentation is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. No part of this presentation may be construed as constituting investment advice or a recommendation to enter into any transaction. No representation or warranty is given with respect to the accuracy or completeness of the information contained in this presentation, and no claim is made that any future offer to transact any securities will conform to any terms that may be contained herein. Before entering into any transaction, investors should determine any economic risks and benefits, as well as any legal, tax and accounting consequences of doing so, as well as their ability to assume such risks, without reliance on the information contained in this presentation 2 Key points
Our Vision “To include high nutritional Mediterranean fish in consumers’ diet around the globe” 3 Key points
Profile Serving our customers is a top priority � � Leading food retailers, distributors, processors and fish farmers are capturing the growing market demand for Leading food retailers, distributors, processors and fish farmers are capturing the growing market demand for healthy and sustainable seafood with NIREUS products. healthy and sustainable seafood with NIREUS products. � � We enable our customers to grow their business by offering the largest selection of high quality products and We enable our customers to grow their business by offering the largest selection of high quality products and integrated solutions adapted to their needs. integrated solutions adapted to their needs. 35 + 1,5 million fish 350 Customers Countries delivered every week 4 Key points
Profile In 2016 Nireus group delivered more than 100 million meals Note : Assuming one meal = 140 gr of fish fillet 5 Key points
Profile � � Less than 0,01% quality claims Less than 0,01% quality claims 6 Key points
Profile We create value for our customers by Highly rated by our customers in offering them tools to grow their business 2016 Customer Satisfaction Survey � � The Largest Selection & Product Range of The Largest Selection & Product Range of Mediterranean Fish Mediterranean Fish � � Year-round Supply Year-round Supply � � Vertically Integrated Operations Vertically Integrated Operations � � Infrastructure, Product & Market Know-How Infrastructure, Product & Market Know-How � � Complete Sales Support Complete Sales Support � � Innovative & Sustainable Aquaculture Practices Innovative & Sustainable Aquaculture Practices � � High Standards in Food Safety & Environmental High Standards in Food Safety & Environmental Management Management 7 Key points
Profile - Product portfolio A prized portfolio for retailers, distributors, processors and aquaculture producers FISH PRODUCTS Our fish grow in a unique environment. They are raised in a natural and wholesome manner in the clear blue waters of Greece and Spain, in sea farms Gilthead sea bream well-tended by our skilled and caring staff who are present 24 hours a day, 7 days per week. Their premium quality is ensured by low stocking density levels, being 2% fish to 98% water. Their appearance, taste, texture and color derive from our own European sea bass carefully selected brood stock, our fish feed made to best suit their particular life stage needs and from NIREUS’ extensive know-how in aquaculture since 1988. They are available in all product forms : � Pargus Fresh and frozen � Whole � Gutted � Fillets � Pre-packaged Mearge 8 Key points
Profile - Product portfolio INDUSTRIAL PRODUCTS 9 Key points
Profile – Production Facilities Production facilities in Greece and Spain Fish Farming Processing 6 1 4 3 26 Packing units Processing Hatchery Pre-fattening Fish farming unit units units units 2 Fish Feed factories (capacity 90.000 tons) Fish farming Fish Feed Hatchery Pre-Fattening Processing Plants Units Units unit Packing units � � � � � Greece � � Spain 10 Key points
Profile - Vertically Integrated Operations NIREUS, being a vertical producer, controls NIREUS, being a vertical producer, controls the entire value chain of all its products, the entire value chain of all its products, ensuring that every stage of production ensuring that every stage of production adheres to the best industry practices. adheres to the best industry practices. 11 Key points
Profile - Pioneering Technology The most advanced breeding selection program for Mediterranean fish Cutting-edge technology in Long-standing cooperation with Universities and leading research institutes 12 Key points
Profile – Main Customers in Europe 13 Key points
Main events in 2016 � � Restructuring of the loans of SEAFARM IONIAN SA Restructuring of the loans of SEAFARM IONIAN SA The refinancing of the loans of merged company SEAFARM IONIAN of an amount of € 20,9 million was concluded on 14.01.2016, subsequent to the merger by absorption of the company with its subsidiary SEAFARM IONIAN SA (22.12.2015). � � Increase in the Company’s Share Capital Increase in the Company’s Share Capital � Following the merger of SEAFARM IONIAN and approval of the trading of new shares as at 24.03.2016, 31.582.478 shares of a value of € 9.474.743 were issued � Furthermore, during the year 2016, 884.404 shares, of a value of € 265.321 from the conversion of bonds which the bondholders held from the convertible bond loan, were issued � As a result, the Company’s share capital as at 31.12.2016, amounted to € 87.449.210,40 divided into 291.497.368 common shares with voting rights, at a par value of € 0,30 each. � � Removal of the trading of NIREUS AQUACULTURE SA shares from the “under surveillance” Removal of the trading of NIREUS AQUACULTURE SA shares from the “under surveillance” The trading of the company’s shares in the Main Market of the Athens Stock Exchange is effective as of 12 February, 2016. 14 Key points
Sales by Business Sector Sales by Business Sector FY2015 & FY2016 (€ mil.) Sales by Business Sector FY2016 (%) FISH FARMING 90,2% 168,6 178,3 Fish farming = fish + juvenile sales Fish farming = fish + juvenile sales 100,0% (own production + merchandise) (own production + merchandise) 80,0% 60,0% 40,0% 6,2% 3,6% FY2015 FY2016 20,0% FISH FEED 0,0% Fish Farming Fish Feed Other 7,1 5,1 � � Fish farming sales increased by € 9.7 mil Fish farming sales increased by € 9.7 mil FY2015 FY2016 � � Fish feed sales increased by € 2.0 mil Fish feed sales increased by € 2.0 mil OTHER 12,4 � � Other sales increased by € 0,7 mil Other sales increased by € 0,7 mil 11,7 Other = fish farming equipment and Other = fish farming equipment and aviculture product sales aviculture product sales 15 Sales evolution FY2015 FY2016
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