Proximar Seafood AS (OSL:PROXI)

Q1 2026 Proximar Seafood AS Earnings Call Transcript

May 29, 2026 / 07:00 AM GMT

Release Date Price: kr0.463 (-9.22%)

Transcript

Key Points

Positve

Proximar Seafood AS (FRA:84Q) reported high survival rates and a superior share of fish, indicating strong biological performance.
The company achieved a record harvest volume of 697 tonnes HOG, nearly doubling from previous quarters.
Operational revenue increased to 36 million NAC, supported by insurance payouts and improved EBITDA.
The company is experiencing strong interest from Japanese investors and is considering engaging a Japanese investment bank for strategic review.
Proximar Seafood AS (FRA:84Q) is benefiting from the Japanese government's focus on increasing in-country food production, including aquaculture.

Negative

The average harvest size was below expectations, impacting revenue due to lower price achievements in the oversupplied Japanese spot market.
The company had to request a waiver from banks for its sales covenant due to lower revenue expectations.
Proximar Seafood AS (FRA:84Q) is facing challenges with market prices and has revised its full-year harvest expectations downward.
Elevated nitrate levels were observed, which could impact fish growth, although they are now trending down.
The company is experiencing high current liabilities due to upcoming loan maturities and is actively working on refinancing options.

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

PROXI.OL - Proximar Seafood AS
Q1 2026 Proximar Seafood AS Earnings Call
May 29, 2026 / 07:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and thank you for joining this first quarter presentation. With me here from Yokohama today I have our CFO Kobayashi and we will now first go through the presentation and then we'll have a Q&A session afterwards.

Through the first quarter and into the second quarter we have continued to see good operational development also when looking at the biological performance.

We see high survival rates and high superior share, although the first quarter was impacted specifically by two tanks of the underperforming mixed batch 11, which was harvested in March.

The average harvest size achievement was somewhat below expectations, but the overall harvest volumes in the higher end.

The big

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