High Liner Foods Inc.

Overview Key strengths Key risks Strong brand recognition in Canada Narrow product portfolio in value-added frozen seafood with concentration in breaded, white fish Balance between food service and retail channels for product distribution Volatile earnings and cash flows owing to variable commodity costs, volume, and foreign exchange Inflationary headwinds could challenge consumers demand for value added products High Liner Foods Inc.?s last 12 months to (LTM) March 31, 2022, revenues and EBITDA grew by the mid-double-digit percentage area compared with the same period last year. The pandemic-induced increase in at-home food consumption, new business wins, and a preference shift toward higher-margin branded value-added products continued to bode well for High Liner through 2021 and early 2022. Furthermore, the recovery in

...The company's operating performance remained consistently strong through early 2022 aided by recovery in the food-service segment and growth in the retail business segment. High Liner Foods Inc.'s last 12 months to (LTM) March 31, 2022, revenues and EBITDA grew by the mid-double-digit percentage area compared with the same period last year. The pandemic-induced increase in at-home food consumption, new business wins, and a preference shift toward higher-margin branded value-added products continued to bode well for High Liner through 2021 and early 2022. Furthermore, the recovery in food service sales volumes since the lifting of pandemic restrictions led to higher sales volumes compared with same period in 2021. Finally, overall revenues rose as a result of pricing increases related to inflationary pressures on input costs. We expect the demand for High Liner's products will remain robust for 2022 given the company's brand recognition and consumer preference for seafood product categories....

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