Slide 1: Arctic Fish Q2 2023 Management Report
Arctic Fish Q2 2023 Management Report 23 August 2023
Slide 2: Disclaimer
Disclaimer Cautionary note regarding forward-looking statements This presentation is the managements summary of the 2nd quarter report, it includes forward-looking statements that reflect the Company's current views with respect to future events and financial and operational performance. These forwa
Slide 3: Q2 2023 Presentation: Highlights for the period
Q2 2023 Presentation Highlights for the period
Slide 4: Highlights
Highlights ▪ Harvested quantities were in line with the company’s short term and long-term plans, resulting in low volumes while moving all harvesting operations to the company’s own new state of the art harvesting facility ▪ The new harvesting facility in Bolungarvík was tested at the end of the qu
Slide 5: Key Financials
Key Financials From July 1, 2023, the operational currency of Arctic Fish has been converted to Euros (EUR) and all reporting will be in EUR from that point onwards.
Slide 6: Q2 2023 Presentation: Financials
Q2 2023 Presentation Financials
Slide 7: Profit and Loss
Profit and Loss Revenues amounted to 22.8 MNOK in the second quarter of 2023, a decrease of 74% from the corresponding prior-year period which can be traced to substantially lower volumes. The positive fair value adjustment in the quarter can largely be attributed to higher forward price indications
Slide 8: Financial Position
Financial Position At the end of the reporting period, total assets amounted to NOK 2,330 million, an increase of NOK 82.4 million from the prior period. The Group’s net interest-bearing debt (NIBD) increased by NOK 163 million from NOK 893 million at the end of the first quarter of 2023 to NOK 1,05
Slide 9: Cash Flow and Net Interest-Bearing Debt
Cash Flow and Net Interest-Bearing Debt Net interest-bearing debt has increased as a result of increased Capital Expenditures. Very low harvest volumes affect the cash flow from operations in the quarter. Continued weakening of the NOK against the EUR in the quarter resulted in currency losses.
Slide 10: Capital Expenditures
Capital Expenditures Ongoing investments Planned capital expenditure going forward Actual Capital Expenditures (MNOK) ▪ We are committing to our growth plan and have Planned Capital Expenditures (MNOK) been focusing on the harvesting capacity and increased smolt production. 500 ▪ Both investments ar
Slide 11: Financing Overview
Financing Overview Refinancing ▪ A Term Sheet has been signed to refinance its existing bank facilities and support planned growth with a EUR 170 million three-year senior secured term loan and revolving credit facility with Danske Bank, DNB, Nordea and Rabobank. ▪ The committed facility comprises a
Slide 12: Volume Guidance
Volume Guidance ▪ In Q2 2023, the Company harvested 100 tonnes (HOG) and YTD 5.0 thousand tonnes compared to 5.3 thousand tonnes the year before. ▪ All processing of the Group's salmon from Q3 2023 and onwards will take place in its brand-new state of the art harvesting facility in Bolungarvík. The
Slide 13: Q2 2023 Presentation: Appendix
Q2 2023 Presentation Appendix
Slide 14: Strong Sustainability Profile
Strong Sustainability Profile First of its kind hi-tech smolt facility All Icelandic attributes preserved, There has not been a need for with 100% green energy1 low sea temperature and density antibiotic treatment in the farming activities Certifications ▪ All fish sold and all sites in use have bee
Slide 15: License Portfolio
License Portfolio Licenses and applications are well positioned for future growth with locations in different fjords In thousand tonnes (MAB) 31.9 4.8 27.1 5.31 I 21.8 All license applications includes fertile salmon Capacity with current Pending applications Capacity if granted licenses (MAB) Ísafj
Slide 16: Shareholders
Shareholders Arctic Fish Holding does not own any of its own shares 20 largest shareholders list includes nominee accounts that are composed of multiple individual shareholders. **Síldarvinnslan hf is a part of the nominee account “J.P. Morgan SE”.
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