Gigante Salmon As · OSL:GIGA
Gigante Salmon As — Q3 2023 Earnings Presentation
16 slides from Gigante Salmon As's earnings presentation, Oct 24, 2023
Slide 1: Q3 Report 2023
Q3 REPORT 2023 24th October 2023 CEO Helge E. W. Albertsen CFO Rune Johansen
Slide 2: Majority owner Gigante Havbruk across the value chain
51,38 % ROE S M O LT W E L L B O AT R&D PA C K I N G S TAT I O N The majority owner Gigante Havbruk is also a co-owner of operations at all stages of the salmon value creation chain. This ensures Gigante Salmon access to the necessary expertise in all areas.
Slide 3: Slide 3
Slide 4: Updated project summary Rødøy
Updated project summary Rødøy THE PROJECT THE INCREASED CAPITAL NEED IS § Gigante Salmon is constructing a land-based salmon farming site on Lille Indre Rosøy which has ECONOMICS REMAIN FUNDED AS FOLLOWS: a yearly production capacity of up to 16.000 tonnes HOG, based on a licensed MAB of 13,731 STRO
Slide 5: Fully-funded to produce 16,000 tonnes after capital raise
Fully-funded to produce 16,000 tonnes after capital raise PHASE 1 FULL PRODUCTION INVESTMENT: MNOK 645 No additional investments required SMOLT RELEASED: 1,100,000 3,300,000 HARVEST (TONNES, WFE): 6,350 19,050 HARVEST (TONNES, HOG): 5,300 16,000 UTILISATION MAB: 0.5x 1.4x PROD. COST NOK/KG HOG1: 60
Slide 6: Health, Security, Environmental & Quality
Health, Security, Environmental & Quality HSE&Q PROJECT EXECUTION An overriding focus for all our activities is that the health of our colleagues and fish is crucial for our success: “If the fish are doing well, then we are doing well.” Important areas of responsibility for Gigante Salmon AS as the
Slide 7: Highlights Q3 2023
Highlights Q3 2023 THE THIRD QUARTER OF 2023 • Onshore power for phase I established • Feed, housing and work fleet anchored and operational • Risers and sieve boxes for water intake phase I installed • Preparations, groundwork and installations of technical area for phase I in completion • All posi
Slide 8: Majority of capex increase directed to increase quality and robustness
Majority of capex increase directed to increase quality and robustness ADDITIONAL INVESTMENTS SPLIT OVERVIEW 44 200 -5 MNOK 64 CAPEX Increase 35 % 64 MNOK 200 33 Design improvement 65 % Concrete works Shore power Total Land and Excavation Technical installations Other Original Updated Additional Cap
Slide 9: Snapshot from Building Information Model
Snapshot from Building Information Model
Slide 10: Slide 10
Slide 11: On track for first harvest in Q4-2024
On track for first harvest in Q4-2024 2021 2022 2023 2024 2025 2026 2027 Project execution phase CONSTRUCTION Q3-23 Groundwork complete PHASE Q4-23 Grow-out basin completed Q3-24 Entire production plant completed Startup production – 1.1 mill smolt Harvest 5,300 PRODUCTION tonnes HOG PHASE 1 Startup
Slide 12: Income statement - Group
Income statement - Group • Income statement reflects project execution phase, with limited income and operating expenses
Slide 13: Balance sheet - Group
Balance sheet - Group • Equity ratio at 54% • Strengthened financing through increased leasing (100 MNOK) and private placement (200 MNOK), carried out in October
Slide 14: Income statement – GS Rødøy
Income statement – GS Rødøy • Total investments in the group in the second quarter rose 385 260 kNOK, compared to 260 074 kNOK in Q2
Slide 15: Balance sheet – GS Rødøy
Balance sheet - GS Rodoy Assets Note 032022 2022 Equity andlabilties Note 032023 932022 2022 Lan. aldngsansother property 50a 07800 Share capital 19230 19230 Shipe 728 778 Share premium e870 weer 2870 ‘Total tangible assets 984028 65.839 108576 Total paid-inequity 192100 192100 192100 ‘Total fixedas
Slide 16: Gigante Salmon
Gigante ax Salmon