Q2 2024 Arctic Fish Holding AS Earnings Call Transcript
Key Points
- Arctic Fish Holding AS (OSL:AFISH) reported the best first half in the company's history in terms of operational EBIT and operational EBIT per kilo.
- The company achieved an operational EBIT of EUR3.17 per kilo in the first half of the year, indicating strong performance.
- Harvest quantities for the quarter increased significantly to 1,300 tonnes compared to 100 tonnes in the same period last year.
- Operational revenues for the quarter reached EUR11.6 million, a substantial increase from the previous year.
- The company has a state-of-the-art RAS hatching and smolt production facility, enhancing its production capabilities.
- Net financial losses for the quarter amounted to EUR2.4 million.
- Net interest-bearing debt increased from EUR112.3 million to EUR118.6 million, indicating rising financial obligations.
- The equity ratio decreased to 37.5%, down by 1.3% from the previous quarter.
- Negative operational cash flow was reported, mainly due to working capital build-up.
- Total assets decreased by EUR3.21 million from the prior period, primarily due to a reduction in current assets.
Dear ladies and gentlemen, welcome to the Q2 2024 presentation for Arctic Fish. My name is Stein Ove Tveiten, I'm the CEO of Arctic Fish. And joining me here today is our excellent CFO, Baldur Smari Einarsson.
I will start with a brief overview of our Arctic Fish. Arctic Fish is listed on the Euronext Growth market in Oslo, is a leading salmon farmer in Iceland with a sustainable and attractive value chain that goes from smolt to sales. The company's production capacity is today 29,800 tonnes, a maximum allowed biomass, MAB. This includes license covering 13 farming areas across six different fjords, all located in the West fjords of Iceland.
Our value chain features a state-of-the-art, RAS hatching and smolt production facility. We have attractive sea site with high carrying capacity and high energy equipment. And also, with the newest additions to the value chain, a newly completed harvesting facility. So this infrastructure ensures that we have the capacity needed to utilize licenses and not just achieve our growth
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
