Icelandic Salmon As · OSL:ISLAX
Icelandic Salmon As — Q2 2024 Earnings Presentation
12 slides from Icelandic Salmon As's earnings presentation, 2024
Slide 1: Q2 2024 Summary Presentation
Q2 2024 SUMMARY PRESENTATION
Slide 2: This is Icelandic Salmon
THIS IS ICELANDIC SALMON Icelandic Salmon AS is listed on the Euronext Growth market in Oslo, and Harvesting plant Four smolt facilities, NASDAQ First North in Reykjavik. in Bíldudalur. Current capacity The company is the sole owner and of 7-8 million smolt, BRCGS* certified parent company of Arnarl
Slide 3: Q2 Summary
Q2 SUMMARY Harvest Operational EBIT (Thousand tonnes gw) (EUR/kg.) New license 7,2 0,73 — 10,000 tonnes MAB of sterile salmon at three sites in Ísafjarðardjúp 4,0 2,8 0,28 Quarterly harvest volume of 702 tonnes compared to Q2-23 at 88 tonnes 0,7 0,1 -0,20 -5,37 — Started harvesting of autumn 2022 ge
Slide 4: License Status
LICENSE STATUS STRATEGIC UPDATE ISSUED LICENSES Arnarlax holds licenses of 33,700 tonnes MAB in the Icelandic Westfjords (Arnarfjörður, Patreksfjörður, Ísafjarðardjúp and • New licence of 10,000 tonnes MAB of sterile salmon Tálknafjörður) issued in Ísafjarðardjúp. The licence includes 3 new sites fo
Slide 5: Sales & Marketing Update
5 SALES & MARKETING UPDATE STRATEGIC UPDATE AND OUTLOOK STRONG DEMAND FOR ICELANDIC SALMON • Robust market with high prices • Low volume to US, mainly contract- based volume • Low volume to Asia 89% • Benefited from good price achievements on downgraded fish • Contract share for Q2 was 59% SUSTAINAB
Slide 6: Financial Highlights
FINANCIAL HIGHLIGHTS SUSTAINABILITY – IT’S IN OUR NATURE 6
Slide 7: Group Balance
GROUP BALANCE FINANCIAL HIGHLIGHTS Assets Liabilities (EUR million) (EUR million) 85 KEY ITEMS FOR SECOND QUARTER 2024 231 240 74 23 Overall performance 90 23 82 — Mortality and reassessment of stock value at one site impacted biological assets 62 51 148 150 — Continued focus on sustainable growth a
Slide 8: NIBD Q2 2024
NIBD Q2 2024 NET INTEREST-BEARING DEBT Working capital affected by reassessment of stock value at one site and mortality Investment activities — Partial payment of hybrid service boat — Cages nets and other seawater equipment SUSTAINABILITY – IT’S IN OUR NATURE 8
Slide 9: Operational Update
OPERATIONAL UPDATE SUSTAINABILITY – IT’S IN OUR NATURE 9
Slide 10: Operational Update
OPERATIONAL UPDATE STATUS • Biological challenges in Q2 related to mortality in sea • Biological situation is significantly improved into Q3 • Implementation of new procedures towards POX-virus in smolt production seems promising • Risk reduction by 2 new vaccines (ISA and winter wounds) • Smolt out
Slide 11: Outlook
OUTLOOK Volume guidance for 2024 is reduced to 13,000 tonnes 2025 volumes will be affected by biological challenges in H1 2024 Contract share expected to be 10% in Q3, and ~12% for FY 2024 Smolt output to continue according to plan into Q3 Icelandic Salmon is well-positioned for increased sustainabl
Slide 12: Strandgata 1 465 Bíldudalur Iceland
Strandgata 1 Iceland arnarlax.is 465 Bíldudalur (354) 456 0100 arnarlax@arnarlax.is