Kaldvik AS (OSL:KLDVK)

Q4 2025 Kaldvik AS Earnings Call Transcript

Feb 25, 2026 / 09:00AM GMT

Release Date Price: kr5.5 (-6.78%)

Transcript

Key Points

Positve

Kaldvik AS (STU:4YYA) achieved a record-high harvest volume of almost 8,000 tons in Q4 2025.
The 2025 generation of fish is performing well, with good health and ahead of growth plans.
The company successfully transferred 8.25 million smolt with acceptable mortality rates.
Forward prices for salmon in Q2 and Q3 2026 are promising compared to 2025.
Kaldvik AS (STU:4YYA) maintains a strong equity ratio of 55%.

Negative

The company reported a negative operational EBIT of EUR 10.6 million for Q4 2025.
Early harvest of the 2024 generation due to winter wounds resulted in lower average weight and a low superior share.
The financial situation is challenging, leading to a request for a waiver from banking partners.
The 2024 generation will generate approximately 5,200 tons less harvest volume than anticipated.
Net debt increased by EUR 6 million during the quarter.

Vidar Aspehaug

Kaldvik AS - Interim Chief Executive Officer

Good morning everyone. I'm Vidar Aspehaug, CEO of Kaldvik, and I'm pleased to welcome you to the presentation of our fourth quarter results for 2025.

Joining me today is our new CFO Hjalti HvÃtklett, who will introduce himself shortly. Together we'll walk you through the key highlights and developments from the past quarter.

After the presentation, we'll open the floor for questions and before and as before, you're welcome to submit them to email by email to qa@Kaldvik.

But first of all, this, so let's move on.

So here is the updated management team with Hjalti HvÃtklett stepping in as CFO, and I will leave the word to him to introduce himself.

Hjalti HvÃ;tklett

Kaldvik AS - Interim CFO

-

Thank you, Vidar. My name is Hjalti HvÃtklett. I started here in Kaldvik. The beginning of February.

I live in the Faroe Islands and will be commuting to Iceland. I had my education in finance from the University of Auros in Denmark and I worked

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