25.2.2025 06:00:01 CET | Måsøval AS | Half yearly financial reports and audit
reports / limited reviews

Sistranda 25.02.2025

This morning, Måsøval announced its Q4 and 2024 preliminary results. In
accordance with a trading update, the Group reports a harvest volume of 5802
GWT, this includes 1076 GWT harvested on commercial co-location agreements.
Yielding a full year harvest volume in 2024 at 25.058 GWT for the Group
including harvesting on commercial co-location.

Financially the quarter ended with a positive operational EBIT of MNOK 3, with
an operational EBIT pr kilo of 0.7 in the quarter. Region mid reporting negative
margins of NOK -3.3 contrasting a stellar result in the first half. The region
experienced extraordinary high sea lice pressure second half of the year. While
region west more than doubled margins from NOK 8.2 pr kilo same quarter last
year to NOK 17.6 pr kilo Q4 2024. CEO Helge Kvalvik comments "region mid is
below what should be expected of this region, while Q4 was another stepping
stone in the improvement of the west region". Sales and processing reported a
negative result of MNOK 13.7. Helge Kvalvik commented "the negative result
reflects integration cost of establishing a fully owned and controlled sales
department and ramp up cost at our new harvesting plant TL52". Q4 concludes the
year 2024 with an operational EBIT pr kilo through the value chain of NOK 16.3
compared to NOK 19.2 in 2023.

Helge Kvalvik the group CEO comments "2024 was another important year in our
growth as a company. Since 2017 we have managed to increase harvesting volume
every single year. Moreover 2024 was important in order to optimize our value
chain and to add harvesting capacity and fully owned sales department. Looking
into 2025 the Group expect to increase volumes further by maintaining its full
year guidance of 29.000-31.000 GWT." 

Please find enclosed the Q4 report for Måsøval.

Måsøval's CEO Helge Kvalvik and CFO Anders Hagestande will present the results
in Norwegian at 08:00 at Auditorium H2, Haakon VIIs gate 2, Vika. The
presentation can also be followed via this link: 

https://channel.royalcast.com/landingpage/hegnarmedia/20250225_3/

The presentation and report are attached in this notification.

Forward looking statements:

This release may be deemed to include forward-looking statements, such as
statements that relate to Måsøval's goals and strategies, salmon prices, ability
to increase or vary harvest volume, production capacity, trends in the seafood
industry, restructuring initiatives, business prospects and positioning with
respect to market, demographic and pricing trends, strategic initiatives, and
the effects of any extraordinary events and various other matters (including
developments with respect to laws, regulations and governmental policies
regulating the industry and changes in accounting policies, standards and
interpretations) on Måsøval's business and results. Forward-looking statements
are Måsøval's current estimates or expectations of future events or future
results. Actual results could differ materially from those indicated by these
statements because the realization of those results is subject to many risks and
uncertainties. All forward-looking statements included in this release are based
on information available at the time of the release, and Måsøval assumes no
obligation to update any forward-looking statement.

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

CONTACTS

 * Anders Hagestande, CFO, Måsøval AS, +47 415 82 138,
   anders.hagestande@masoval.no 
 * Helge Kvalvik, CEO, Måsøval AS, +47 979 79 772, helge.kvalvik@masoval.no 

ABOUT MÅSØVAL AS

Måsøval is an integrated producer of Atlantic salmon with more than 50 years of
operational experience. Located in Central and West of Norway, Måsøval has both
significant farming operations at sea and inhouse smolt production. Måsøval is
processing and exporting high quality Atlantic salmon to a global marketplace.

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847731/18432137/5664/Download%20announce
ment%20as%20PDF.pdf

Masoval AS - Q4 24 report.pdf -
https://kommunikasjon.ntb.no/ir-files/17847731/18432137/5662/Masoval%20AS%20-%20
Q4%2024%20report.pdf

Masoval Q4 24 presentation.pdf -
https://kommunikasjon.ntb.no/ir-files/17847731/18432137/5663/Masoval%20Q4%2024%2
0presentation.pdf