Icelandic Salmon As · OSL:ISLAX
Icelandic Salmon As — Q4 2024 Earnings Presentation
12 slides from Icelandic Salmon As's earnings presentation, 2025
Slide 1: Q4 2024 Summary Presentation
Q4 2024 questions@arnarlax.is 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 Arnarla
Slide 3: Q4 Summary
Q4 SUMMARY Stable biology in the quarter Stable biological situation, higher volumes, solid quality on Harvest Operational EBIT harvest volume, and good lice control (Thousand tonnes gw) (EUR/kg) 7,2 0,28 0,22 6,5 Quarterly harvest volume of 6,455 tonnes, compared to Q4-23 at 7,219 tonnes -0,20 — Fi
Slide 4: License Status
LICENSE STATUS STRATEGIC UPDATE Arnarlax holds licenses of 23,700 tonnes MAB in the Icelandic LICENSES Westfjords (Arnarfjörður, Patreksfjörður, and Tálknafjörður) • The license for 10,000 tonnes MAB of sterile salmon in Ísafjarðardjúp was revoked in Q3 • We are working closely with authorities on t
Slide 5: Sales & Marketing Update
5 SALES & MARKETING UPDATE STRATEGIC UPDATE STRONG DEMAND FOR ICELANDIC SALMON • Good price achievements • Larger fish than market average (Our avg.weight: 5.2kg gwt vs. Norwegian market avg. in Q4: 3.9kg gwt*) • North America: Strong market in Q4 and gave a high share of sales to that market (18%)
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) KEY UPDATES FOR FOURTH QUARTER 2024 264 263 120 Extension on financing agreement 113 115 116 34 22 — Additional EUR 65 million, increasing the loan facility to EUR 160 million. 91 — Extension on our current Sustainabil
Slide 8: Net Interest-Bearing Debt
NIBD Q4 2024 NET INTEREST-BEARING DEBT Decrease in NIBD including leasing, of EUR 2.5 million — Positive EBITDA EUR 5.5 million — Positive change in working capital EUR 5.6 million Investments in smolt facilities are proceeding as planned * Including resource tax ** Including lease liabilities SUSTA
Slide 9: Operational Update
OPERATIONAL UPDATE SUSTAINABILITY – IT’S IN OUR NATURE 9
Slide 10: Operational Update
OPERATIONAL UPDATE STATUS • Stable biological situation in sea during Q4 • Sea temperature 1°C below normal • Good MAB utilization on Arnarfjörður licenses • Sea lice situation well under control • Improved performance on the smolts output • Cost reduced compared to previous quarters • High harvest
Slide 11: Outlook
OUTLOOK Building a base for sustainable production of 26,000 tonnes in steady state • Long-term growth potential of up to 26,000 tonnes on existing licenses within current regulatory framework • Significant biomass increase expected in 2025, and better MAB utilization • Strengthening our value chain
Slide 12: Q&A Session Starting Soon
Q&A SESSION STARTING SOON SUSTAINABILITY – IT’S IN OUR NATURE 12