Q1 2025 Icelandic Salmon AS Earnings Call Transcript
Key Points
- Icelandic Salmon AS (OISE:ISLAX) is on track to deliver an all-time high smolt output in 2025, both in terms of number and average weight.
- The company has implemented effective lice control measures, including preventive measures like lice skirts and the use of lumpfish and stingray lasers.
- There is a significant build-up of biomass planned for 2025, which is expected to reduce production costs.
- The company expects a lower cost level in 2025 compared to 2024, driven by increased volume and lower feed costs.
- Icelandic Salmon AS (OISE:ISLAX) continues to experience strong demand for its products despite global market challenges.
- The company faced a challenging biological situation in seawater in Q1 2025, leading to a lower harvest volume compared to the previous year.
- EBIT for the quarter was negative at €-3 million, down from €-0.2 million in the first quarter of the previous year.
- The average weight of harvested fish was low due to early harvesting to safeguard fish welfare.
- The company is concerned about new toll tariffs implemented by the United States, which could reduce salmon consumption and price achievement in the US market.
- There is uncertainty regarding the approval of a 10,000-ton license for sterile salmon, which was revoked and is currently under review.
Good morning everyone.
Thank you all for taking time to watch this quarter1 presentation for Icelandic Salmon. My name is Bjorn Hambre, and with me today I have Jonas Haidar Bergeson and EUR Metusamson. After the presentation, there will be a Q&A session, and you can send questions to the mail address questions@arnalos. Is anytime during the session.
First, a brief overview of Icelandic salmon. As most of you probably know, the company is listed on Euronex growth market in Oslo and in Reysjavik on the Nosto first North.
The company is the sole owner and parent company of Analogs AHF. All operational activities of the group are performed in Analogs AHF.
We are present throughout the value chain from smolt to sales. We have 4 small facilities with a current capacity to produce 25 to 30,000 tons of head-on gutted salmon.
We have farming operations in 8 sites in 3 fjords in the west fjords of Iceland, and all our production in the sea is AIC certified. The total maximum allowed
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