Bifogade filer
NOAP 2025 Q1 Interim Report
Prenumeration
Beskrivning
| Land | Norge |
|---|---|
| Lista | Euronext Growth Oslo |
| Sektor | Tjänster |
| Industri | Allmänna tjänster |
Highlights
- Revising production strategy targeting harvest weight of 7 kg LW, equivalent to 5.8 kg HOG
- Resumed sales in mid-February with very positive reception at market re-entry and solid price achievement
- Implemented corrective actions and protocols to manage geosmin
- Harvest of ~200 tonnes HOG with high quality and average weight of 6.2 kg HOG, equivalent to 7.5 kg LW
- Good underlying operational and biological performance for all batches with excellent fish health and welfare
- Secured bridge funding through EUR 13 million short-term credit facility
During the first quarter 2025, Nordic Aqua resumed commercial harvest of its premium quality Atlantic salmon to the growing Chinese market. Market reception was very positive, with price achievements around the EUR 9/kg mark on average harvest weights of 6.2 kg HOG (7.5 kg LW). Capitalizing on the Chinese market’s preference for large size fish, Nordic Aqua is in process of implementing revised production strategy, targeting average harvest weight of 5.8 kg HOG (7.0 kg LW).
Overall biological performance remains strong with no maturation, low mortalities and high survival rates for all batches. Following the handling of off-flavour incidents, production is back on track. Overall biomass production was 933 tonnes during the quarter, with March production amounting to 461 tonnes. While 107 tonnes were taken out to opitmise stock, total biomass at the end of the period stood at 2,805 tonnes.
Commenting on Nordic Aqua's current position, CEO Ragnar Joensen, said:
"We are pleased to announce that the sale of Atlantic Salmon at our Ningbo facility is back on track and stronger than ever. With comprehensive corrective actions now in place, the Ningbo facility is fully optimized for sustainable, high-quality salmon farming, and the company is now reengaging with partners and customers. Handling the operational issues brought challenges, but it also demonstrated the capabilities of the available resources and the robustness of our business model."
Construction for Stage 2 expansion develops according to plan. The first inlay of egg was successfully completed in September 2024, and the project is on schedule for the first harvest in Q3 2026, paving the way to more than double production capacity to 8,400 tonnes, 7.0 kg LW salmon annually.
Outlook
Nordic Aqua's plans for 2025 include scaling production, strengthening market penetration, and advancing sustainability initiatives to secure long-term shareholder value.
Nordic Aqua is currently finalizing the investment details for Stage 3, and the company expects to announce specifics about this expansion stage during H2 2025. The completion of the Stage 2 expansion, and the further growth to 20,000 tonnes reinforces the company's commitment to long-term growth and market leadership.
Results presentation
CEO Ragnar Joensen, CFO Tom Johan Austrheim, and managing director for Nordic Aqua's operational activities in China, Andreas Thorud, will host a webcast to present the results today at 08:30 a.m. CEST. The webcast can be accessed at www.nordicaquapartners.com, or with the following link:
https://channel.royalcast.com/landingpage/hegnarmedia/20250515_15/
Following the presentation, Nordic Aqua will take questions from the audience. Webcast participants need to register to post questions. The presentation and subsequent Q&A will be held in English.