Andfjord Salmon Group As · OSL:ANDF
Andfjord Salmon Group As — Q2 2022 Earnings Presentation
23 slides from Andfjord Salmon Group As's earnings presentation, Sep 15, 2022
Slide 1: Q2 2022 Status and Progress
Q2 2022 STATUS AND PROGRESS 15 SEPTEMBER 2022
Slide 2: Q2 Presentation 2022 Agenda
Q2 2022 Q2 PRESENTATION 2022 AGENDA Martin Rasmussen CEO Introduction Quarterly highlights and subsequent events Operational update Key financial figures Bjarne Martinsen Summary and outlook CFO
Slide 3: Andfjord Salmon at a Glance
Q2 2022 ANDFJORD SALMON AT A GLANCE FOUNDED: 2014 LOCATION: ANDØYA, NORWAY EURONEXT GROWTH: ANDF FLOW-THROUGH – NATURAL FLOW FIRST LOCATION Uses a closed flow-through system, which Andfjord Salmon has been granted a licence combines the benefits of both traditional and for 10,000 tonnes MAB with pot
Slide 4: Expansion potential to a total capacity of ~90,000t (HOG)
Q2 2022 EXPANSION POTENTIAL TO A TOTAL CAPACITY OF ~90,000T (HOG) • Andfjord Salmon has secured, by purchase or purchase options, land on Andøya enabling an increase in total annual production volume to ~90,000t (HOG) • License for Kvalnes I secured, licensing process for the expansion initiated 21
Slide 5: Agenda
Q2 2022 AGENDA 1 2 3 4 QUARTERLY HIGHLIGHTS OPERATIONAL KEY FINANCIALS SUMMARY AND AND SUBSEQUENT EVENTS UPDATE OUTLOOK
Slide 6: Highlights Q2
Q2 2022 HIGHLIGHTS Q2 SUCCESSFUL SMOLT JEROMINO MARTINS LAUNCH OF CALANUS®PLUS APPROVAL OF BREIVIK RELEASE AT KVALNES INVESTS MNOK 173.9 BY ANDFJORD SALMON ZONING PLAN In June Andfjord Salmon Jerónimo Martins, a Portugal- Andfjord Salmon, Skretting Norway Andøy municipal council approved the success
Slide 7: Agenda
Q2 2022 AGENDA 1 2 3 4 QUARTERLY HIGHLIGHTS OPERATIONAL KEY FINANCIALS SUMMARY AND AND SUBSEQUENT EVENTS UPDATE OUTLOOK
Slide 8: Kvalnes Phase 1: Successful Smolt Release
Q2 2022 KVALNES PHASE 1: SUCCESSFUL SMOLT RELEASE SMOLT RELEASE 25 JUNE • ~200,000 smolt • Average weight 120 grams ADAPTED QUICKLY TO NEW SURROUNDINGS • Close to full survival rate in high-stress event for fish • Adapted quickly to new surroundings
Slide 9: Successfully Recreating the Salmon's Habitat on Land
Q2 2022 SUCCESSFULLY RECREATING THE SALMON’S HABITAT ON LAND POOL FUNCTIONS • Pool functions and technology work exactly as expected • Laminar water flow proving highly reliable • Pool water changed ~15 times per 24 hours BIOLOGICAL CONDITIONS • Creating the salmon’s natural habitat on land • Handli
Slide 10: Current Status: Fish Thriving in Pool
Q2 2022 CURRENT STATUS: FISH THRIVING IN POOL FISH GROWING WELL INDUSTRY-LEADING SURVIVAL RATE Average weight per fish (grams) Survival rate of released smolt (%) 450 100 99.8 99.4 402 400 99 350 98 97 300 96 250 95 200 94 150 120 93 100 92 50 91 0 90 30 June 15 Sept. 30 June 15 Sept.
Slide 11: Excavation of Two Next Pools Complete
Q2 2022 EXCAVATION OF TWO NEXT POOLS COMPLETE AREA • Scraping of entire area complete • Currently finalising plan for optimal layout and development of expansion NEXT TWO POOLS • Blasting and excavation work complete EXCAVATION • Pools closest to first pool to be excavated first, then moving sequent
Slide 12: Breivik Zoning Plan Approved
Q2 2022 BREIVIK ZONING PLAN APPROVED BREIVIK ZONING PLAN APPROVED 13 JUNE 2022 BREIVIK Approved • Plan to build land-based fish farming facility, targeting production volume of 25,000 tonnes HOG FISKENES ZONING PLAN APPLICATION: 25,000 TONNES HOG IN TOTALo 25,000 T HOG POTENTIAL PRODUCTION VOLUME o
Slide 13: Agenda
Q2 2022 AGENDA 1 2 3 4 QUARTERLY HIGHLIGHTS OPERATIONAL KEY FINANCIALS SUMMARY AND AND SUBSEQUENT EVENTS UPDATE OUTLOOK
Slide 14: Invest with a Clear Conscience
69°N ANDØYA VESTERÅLEN NORWAY INVEST WITH A CLEAR CONSCIENCE
Slide 15: Income Statement
Q2 2022 INCOME STATEMENT ANDFJORD SALMON AS All amounts in NOK Q2 2022 Q2 2021 YTD 2022 YTD 2021 2021 1.4– 30.6 1.4 – 30.6 1.1– 30.6 1.1 – 30.6 1.1 – 31.12 Unaudited Unaudited Unaudited Unaudited Operating income and expenses Other income 0 0 31 500 0 0 Total operating income 0 0 31 500 0 0 Salary a
Slide 16: Balance Sheet
Q2 2022 BALANCE SHEET ANDFJORD SALMON AS All amounts in NOK 30.6.2022 31.12.2021 30.6.2021 Assets Unaudited Unaudited Total intangible assets 3 598 802 2 664 757 1 457 561 Total property, plant & equipment 492 081 626 428 987 851 330 237 220 Total long-term fixed assets 106 260 123 970 141 680 Total
Slide 17: Balance Sheet
Q2 2022 BALANCE SHEET ANDFJORD SALMON AS All amounts in NOK 30.6.2022 31.12.2021 30.6.2021 Unaudited Unaudited Total equity 514 905 320 323 273 127 342 714 856 Liabilities Non-current liabilities Liabilities to financial institutions 85 426 178 39 478 187 30 000 000 Other non-current liabilities 59
Slide 18: Cash Flow Statement
Q2 2022 CASH FLOW STATEMENT ANDFJORD SALMON AS All amounts in NOK Q2 2022 Q2 2021 YTD 2022 YTD 2021 2021 1.4 – 30.6 1.4 – 30.6 1.1 – 30.6 1.1 – 30.6 1.1 – 31.12 Unaudited Unaudited Unaudited Unaudited Net cash flow from operating activities -13 196 10 985 750 -16 759 647 -13 137 544 -20 620 952 Net
Slide 19: Agenda
Q2 2022 AGENDA 1 2 3 4 QUARTERLY HIGHLIGHTS OPERATIONAL KEY FINANCIALS SUMMARY AND AND SUBSEQUENT EVENTS UPDATE OUTLOOK
Slide 20: Summary & Outlook
Q2 2022 SUMMARY & OUTLOOK FISH FINANCE BIZ DEVELOPMENT FIRST HARVEST • Successful smolt release Strengthened financial • Approval of Breivik zoning • Targeting first harvest in • Desired biological position: plan mid-2023 conditions • NOK 50 million bank loan • Fiskenes decision expected • Excellent
Slide 21: On Track to Build the World's Most Fish-Friendly and Sustainable Facility
69°N Q2 2022 ANDØYA VESTERÅLEN NORWAY ON TRACK TO BUILD THE THE WORLD’S MOST FISH-FRIENDLY AND SUSTAINABLE FACILITY
Slide 22: DQ onorsono” Q2 2022
DQ onorsono” Q2 2022 SALMON
Slide 23: Andfjord Salmon Kvalnes, Andøya, Norway
ANDFJORD SALMON KVALNES, ANDØYA, NORWAY ANDFJORDSALMON.COM ANDFJORD.NO POST@ANDFJORD.NO