Icelandic Salmon AS (OSL:ISLAX)
kr 101.5 -0.50 (-0.49%) Market Cap: 3.14 Bil Enterprise Value: 4.17 Bil PE Ratio: 0 PB Ratio: 1.79 GF Score: 82/100
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Q3 2024 Icelandic Salmon AS Earnings Call Transcript

Nov 18, 2024 / 09:00 AM GMT
Release Date Price: kr128 (-0.78%)

Key Points

Positve
  • Icelandic Salmon AS (STU:I6X) successfully stabilized the biology after a challenging winter and spring, leading to good growth in biomass.
  • The company introduced two new vaccines to reduce the risk of biological incidents, showing proactive measures in health management.
  • There was an increase in harvest volume compared to the previous quarter, with expectations for continued growth into the next quarter.
  • Sales and marketing efforts resulted in good price achievements, with increased sales to North America and Asia.
  • The company has a long-term ambition to increase production to 26,000 tons per year, supported by a robust corporate culture and competent staff.
Negative
  • The EBIT for the quarter was negative EUR 3 million, affected by low revenues due to low volume and high costs.
  • A 10,000-ton license for sterile salmon was revoked, impacting potential future operations.
  • The equity ratio decreased to 54% due to weaker operational results and increased net interest-bearing debt.
  • Biological challenges in the first half of the year will affect harvest volumes in 2025, with a lower than hoped 15,000-ton target.
  • The company faces uncertainty regarding new law proposals due to political disagreements and upcoming elections, affecting future operations.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

ISLAX.OL - Icelandic Salmon AS
Q3 2024 Icelandic Salmon AS Earnings Call
Nov 18, 2024 / 09:00AM GMT

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Presentation
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Unidentified_1 [1]
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Welcome everyone and thank you for taking time to watching this quarter three presentation for Icelandic Salmon.

Today I have with me Ena Zar Bergeson and Metalla. So in this presentation, after the presentation, there will be a Q&A session, you can send your questions to questions at Analogx dot is at any time during the session.

First, a brief overview of Icelandic Salmon.

As most of you probably know, the company is listed on the Euronext growth market in Oslo and on NASDAQ first north market in Reykjavik. The company is the sole owner and the parent company of Analogx A HF in Iceland or all our operational activities of the group are performed in Analogx A HF.

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