Image: Salmon Evolution / FIS

Salmon Evolution ASA: NOK 40/kg (USD 3.68) in farming EBITDA margin in Q1 2024

NORWAY
Wednesday, May 08, 2024, 07:00 (GMT + 9)

Salmon Evolution ASA ("Salmon Evolution" or the "Company", OSE: SALME) reported operating revenues of NOK 100.3 million (USD 9.23 M) in the first quarter of 2024 and a group EBITDA of NOK 24.1 million (USD 2.22 M) . The first quarter constitutes a significant milestone for Salmon Evolution with strong profitability and positive EBIT at Group level.

"In Salmon Evolution we have a vision to grow salmon on land with excellent biology in a highly profitable way”, CEO of Salmon Evolution, Trond Håkon Schaug-Pettersen said. “The strong results in the first quarter are a testament to this and truly demonstrates that Salmon Evolution has established a unique, efficient and profitable growth platform. We are only at the start of our journey”, he continued.

Highlights in the quarter:

Source: Salmon Evolution. Clic on the image to enlarge

• Farming EBITDA of NOK 36.2 million (USD 3.33 M) , NOK 40.2 EBITDA/kg (USD 3.70).
• Group EBITDA of 24.1 million (USD 2.22 M) and group EBIT of NOK 5.8 million (USD 0.53 M).
• Q1 harvest volumes of 901 tonnes HOG, with average weight of 4.6 kg LW, superior share of 96 % and strong price realization.
• Record high standing biomass of almost 2,700 tonnes LW end of quarter.
• Stable operations with net biomass growth of ~1,560 tonnes LW, up 8 % from Q4 2023.
• Q2 harvest volumes expected in the range of 1,600 - 1,800 tonnes HOG.

Source: Salmon Evolution. Clic on the image to enlarge

Results presentation:

CEO Trond Håkon Schaug-Pettersen and CFO Trond Vadset Veibust was present the results for the first quarter of 2024 at Hotel Continental in Oslo, Tuesday 7 May 2024

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

Source: PR Cision / Salmon Evolution 

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