Iceland Q4 right in line with model

All,

Iceland are out with Q4 results today and have a cap. markets day in the city this afternoon. Tomas is going, so please let him have any questions.

Tomas’ comments:

  • Perfectly in line with our model - Sales slightly behind, EBITDA £140m versus £139m. 

  • Leverage comes in at 4.9x versus your 5.2x expected, due to better Working Capital inflow (we were expecting higher stockpiling at 31st March for Brexit). The new distribution centre is also already filled with stock at current numbers.

  • Company presenting at Allen & Overy offices today at 11, I will be there.  

  • Company buying back £9m bonds and plan to buy a further £45m in the coming year.  (Of the 2020) 

  • Overall Company in line with their guidance - FY20 guidance is cautious. But debt reduction still planned and likely less CAPEX in FY20 than FY19.  

Tomas is your analyst.

Wolfgang

Iceland FY19 Q4 Presentation

Iceland FY19 Q4 Financial Statements

Tomás MannionICELAND