Proximar Seafood As · OSL:PROXI
Proximar Seafood As — H1 2022 Earnings Presentation
16 slides from Proximar Seafood As's earnings presentation, 2022
Slide 1: Company Presentation: 1st half 2022 reporting
Company Presentation 1st half 2022 reporting PRIVATE AND CONFIDENTIAL
Slide 2: Disclaimer
Disclaimer This presentation contains certain forward-looking information and statements. Such forward-looking information and statements are based on the current, estimates and projections of Proximar Seafood AS (“the Company”) or assumptions based on information currently available to the Company.
Slide 3: Today's speakers
Today’s speakers Company Presentation Joachim Nielsen Pål Grimsrud CEO CFO 3
Slide 4: Proximar Seafood's vision
Proximar Seafood’s vision Company Presentation “Our vision is to be a leading provider of sustainably produced seafood and contribute to feed a growing population with proteins.”
Slide 5: Well positioned in terms of operations and business outlook
Well positioned in terms of operations and business outlook Local production Operations about to start Robust business outlook Company Presentation • Completion of the Hatchery & Nursery • Imported Atlantic salmon receiving • 5,300 tonnes annual production facility in September record high prices ca
Slide 6: Important achievements during H1 2022
Important achievements during H1 2022 Sales and distribution agreement with Marubeni The construction continues progressing according to signed covering sale of all volumes produced by time, schedule and budget – less than 0.5% CAPEX Proximar for the Japanese market with an initial term of impac
Slide 7: Construction on time and on budget
Construction on time and on budget Construction of facility according to original schedule – completion of Company Presentation construction targeted 3Q23 Unchanged CAPEX estimate, with more than 95% of CAPEX fixed and limited exposure to material cost increase Hatchery and Nursery building: Post sm
Slide 8: Estimated EBT-cost of ~52 NOK/kg at full utilization
Proximar has an estimated EBT-cost of ~52 NOK/kg at full utilization, in line with expected production cost in Norway Proximar non-tax cost breakdown1) and average Historical calculated sales price Japan (not including premium) and production cost Norway industry cost Figures in NOK/kg Figures in NO
Slide 9: Long term EBT cost of ~52 NOK/kg, profitable at low densities
Proximar expects a long term EBT cost of ~52 NOK / kg, and will remain profitable even at very low densities / harvest levels Expected annual harvest with varying densities Expected non-tax (EBT) cost at varying harvest levels Tonnes (HOG) at steady state production NOK / kg (HOG) at steady state pr
Slide 10: Highly qualified team members in place
Highly qualified team members in place Well positioned for the operational phase, securing key positions in 1H22 Organizational Key positions of the operational team filled, and all members now relocated to Japan highlights 1H2022: • Dharma Rajeswaran (COO), starting his position in January and relo
Slide 11: Another half year of consistent performance and harvest
Another half year of consistent performance and harvest Actual growth performance Size in grams / month at the Poland facility (last 5 batches) 5 000 Smolt Grow-out 4,187 Technological 4 000 highlights 2022: 3 000 Another period passed Presentaton 2 000 CompanyPresentation showing stable 1 000 242 p
Slide 12: Financial highlights 1st half 2022
Financial highlights 1st half 2022 P&L 30 June 2022 30 June 2021 Revenue and other income 0 0 Operating expenses -11 078 -5 546 Net financials 12 -13 891 Net loss for the period -11 065 -19 437 Currency effects on loans -17 298 1 620 Net result for the period -28 363 -17 817 Operating expenses incre
Slide 13: Status on securing debt financing for the stage I facility
Status on securing debt financing for the stage I facility - good progress following the signing of off-take with Marubeni Focus on the long-term debt, as construction financing to a large degree Company Presentation is dependent on securing long-term financing Active discussions ongoing and in fina
Slide 14: Proximar's business model puts sustainability at centre
Proximar’s business model puts sustainability at centre Proximar has a sustainable business model… …verified by leading certifiers ESG Significantly reduced Carbon Footprint due to highlights 2022: elimination of long-distance air freight. Proximar has chosen a production technology with low Company
Slide 15: Summary
Summary The construction is continuing to progress according to time and cost with more than 95% of CAPEX fixed The long-term outlook of the Japanese market for Atlantic Salmon remains attractive, with strong prices and long-term increase in consumption, reaffirming Proximar’s outlook Company Presen
Slide 16: Q&A
Company Presentation Q&A